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NHL Free agency: Most long-term contracts will end in trade or buyout

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Exactly six years ago Friday, the Toronto Maple Leafs made one of the most infamous free agent signings in the salary cap era when they inked David Clarkson to a seven-year, $36.75 million contract. It was a dubious signing from the very beginning due to Clarkson’s age (he was already 29 years old) and lack of consistent, top-line production in the NHL. Adding to the absurdity was the reception of the contract in Toronto (comparing him to Wendel Clark) and the way then-general manager Dave Nonis defended the signing from any and all criticism by saying, “I’m not worried about six or seven right now. I’m worried about one. And year one, I know we’re going to have a very good player. I believe that he’s got a lot of good years left in him.”

How did that work out?

In year one Clarkson scored five goals in 60 games, was a colossal bust, and was then traded to the Columbus Blue Jackets halfway through year two of the contract for Nathan Horton, another free agent bust from the same offseason whose career would be derailed and ultimately ended by injury. The Maple Leafs knew Horton would never play again and the whole trade was nothing more than a way to shed an albatross contract that looked to be a mistake from the start. It was an obvious — and ultimately legal — circumvention of the league’s salary cap.

Clarkson’s contract is far from the only one that has gotten general managers in trouble for signing a player for too many years in free agency. Almost every time the justification is similar to the one Nonis gave for the Clarkson signing: We’re not worried about four or five years, we just want to win right now.

Most of them never win “right now,” and almost all of them are looking for a way out within two years.

Between the summers of 2009 and 2016 there were 35 unrestricted free agents signed to contracts of five years or longer.

What sort of return did teams get on those investments?

Let’s start with this, showing the result of each signing.

[Related: PHT 2019 Free Agent Signing Tracker]

This only includes players that actually changed teams as UFA’s. It does not include re-signings of players still under contract with their current team (contract extensions), or the re-signing of restricted free agents.

• Fourteen of the 35 players were traded before the end of their contract term. That includes nine players that were traded before completing three full seasons with their new team. Most of these trades were salary dumps or an exchange of undesirable contracts.

• Ten of the contracts ended in a buyout, usually after three or four seasons.

• There are only three players signed during this time period that are still playing out their contracts with their current teams: Zach Parise and Ryan Suter in Minnesota, and Michael Frolik with the Calgary Flames. The latter has been mentioned in trade rumors for more than a year now.

• Only four players played out the entire term with the team that signed them: Paul Martin with the Pittsburgh Penguins, Anton Stralman with the Tampa Bay Lightning, Brian Gionta with the Montreal Canadiens, and Dan Hamhuis with the Vancouver Canucks.

• Three players had their careers ended by injury before the duration of the contract: Marian Hossa with the Chicago Blackhawks, Ryane Clowe with the New Jersey Devils, and Mattias Ohlund with the Tampa Bay Lightning.

• On average, those 35 players played out just 57 percent of their contract term with the team that signed them. Fourteen of them played out only half of the contract or less.

• If you want to go with the “I don’t care what happens in six years as long as we win the Stanley Cup with this player” argument, the only players in the above sampling that actually won a Stanley Cup with the team that signed them during their contract were Hossa in Chicago and Matt Niskanen and Brooks Orpik in Washington. The only others to even play in the Stanley Cup Final were Anton Stralman, Valtteri Filpulla, and Matt Carle in Tampa Bay, and Brad Richards with the New York Rangers (he was bought out the following summer after three years of a 10-year contract).

What did teams learn from this sampling?

Mostly nothing, because they have kept doing it.

Between the 2016 and 2018 offseasons there were 13 UFA contracts of five years or more signed, and the early returns are already looking disastrous.

In the summer of 2016 the following deals were signed.

  • David Backes to the Boston Bruins for five years at $6 million per year
  • Kyle Okposo to the Buffalo Sabres for seven years at $6 million per year
  • Frans Nielsen to the Detroit Red Wings for six years at $5.25 million per year
  • Milan Lucic to the Edmonton Oilers for seven years at $6 million per year
  • Loui Eriksson to the Vancouver Canucks for six years at $5.5 million per year
  • James Reimer to the Florida Panthers for five years at $3.4 million per year
  • Andrew Ladd to the New York Islanders for seven years at $5.5 million per year

Not sure there is anybody that would look at any of those contracts just three years later and argue that any of those teams are getting what they hoped to get. Reimer has already been traded so the Panthers could give another long-term deal to a different goalie (Sergei Bobrovsky) this offseason, while the rest of the contracts have all quickly become an albatross for every team that signed them.

There were six contracts signed over the 2017 and 2018 offseasons with Alexander Radulov, Karl Alzner, John Tavares, James van Riemsdyk, Jack Johnson, and John Moore all getting contracts of five years or more.

So far the Radulov and Tavares contracts look to be the best investments and have provided the most return.

Alzner spent time in the AHL this past season, while Johnson has been the subject of trade rumors after just one season in Pittsburgh.

This offseason seven teams have decided to bet against history and take their chances on long-term deals.

  • Vancouver signed Tyler Myers to a five-year contract
  • New York signed Artemi Panarin to a seven-year contract
  • Florida signed Bobrovsky to a seven-year contract
  • Pittsburgh signed Brandon Tanev to a six-year contract
  • Nashville signed Matt Duchene to a seven-year contract
  • New York Islanders re-signed Anders Lee to a seven-year contract

History suggests that probably at least five of these players will be playing for a different team within two or three years.

The players that have had the highest chances of playing out most of their contract are the high-end players (first-or second-line forwards; top-pairing defenders) that are still reasonably close to the prime of their careers, so that might be good news for the Rangers and Panarin and maybe — emphasis maybe — Duchene and the Predators.

All of the rest? These look like textbook deals that are destined to end in a salary dump trade or a buyout within a couple of years.

If a player makes it to unrestricted free agency you should know what you are bidding on and adjust your expectations accordingly. It is usually a player that has almost certainly already played their most productive hockey in the NHL, and it is usually a player that their former team didn’t feel was worth the money or term they were going to be able to get on the open market. It is rare that a team allows a player it actually wants to re-sign and values make it to free agency.

Elite players like Tavares and Panarin are the exception.

The end result is a bidding war for a declining player that probably isn’t as good as you think, which then ultimately leads to a team paying a player to NOT play for them (buyout), or trading them for another player another team doesn’t want, or giving up a more valuable asset to entice a team to take your bad contract in a trade.

NHL Free agency: Sometimes the best way to win is to not play.

Adam Gretz is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @AGretz.

What the Penguins need to become a championship team again

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There is going to come a point in the next few years where the Pittsburgh Penguins are no longer a playoff team.

Sidney Crosby, Evgeni Malkin, and Kris Letang are all over the age of 32 and probably only have a handful of high-level years ahead of them. When they start to decline or retire there is going to be no replacing them and no matter what moves the Penguins make today there is not going to be anything that stops them from needing an extensive rebuild in the not-too-distant future. That future is not quite here yet.

After barely making the playoffs and getting swept in Round 1 with a roster that seemed to lose its way, it is not unfair to say that the team has slipped a bit in its standing as a Stanley Cup contender. What do they need to get back closer to the top?

We know the Sidney Crosby-Jake Guentzel duo is going to excel on the first line and the Kris Letang-Brian Dumoulin pairing is going to be great. After that it is a bunch of questions. The obvious keys focus on Alex Galchenyuk fitting in, Evgeni Malkin being better (especially at even-strength), and Matt Murray playing at his best (all things we already looked at today).

But that alone will not be enough.

[MORE: 2018-19 Summary | Under Pressure | X-Factor | Three Questions]

1. Rediscover their identity. I touched on this immediately after their Round 1 loss but the single biggest flaw the Penguins have is their sudden fascination with having players that provide “push back.” For a team that won two Stanley Cups under the mantra of “just play” it was a needless overreaction to some perceived injustices from a select few opposing players. The result was a shift away from what made team so tough to play against (balanced offense, mobile defense, speed, four scoring lines) and a rapidly growing collection of long-term, pricey contracts for depth players (Jack Johnson, Erik Gudbranson, Brandon Tanev). The big thing that would help address this: Another mobile, puck-moving defender that can play on the second pair. The big intangible thing: Go back to “just play” instead of worrying about pushing back.

2. A resurgence from a (hopefully) healthy Patric Hornqvist. Hornqvist’s status as a team leader and gritty forward with a non-stop motor masked the fact that his play rapidly deteriorated in the second half of the season, to the point where he was a complete non-factor offensively. It was a stunning slump after a strong first half. The thing that stands out about that is there is a pretty firm line that separated his season. That line was another head injury that kept him out of the lineup midway through the season. Was it a fluke slump? Was it a result of the injury? Was it a sign of things to come for him in the future now that he is 32 years old? A combination of all three? Whatever it was, the Penguins have Hornqvist signed for four more years at more than $5 million per season. The work ethic and effort are great, but at that price the Penguins need him to produce more than he did this past year or that contract will quickly turn into another drain on the salary cap.

3. Some young players need to emerge. The big focus during their mid-season turnaround in 2015-16 was on the coaching change. But there was another element at play: A bunch of young players became impact players at the same time (Murray, Conor Sheary, Bryan Rust, Tom Kuhnhackl; Guentzel a year later). The Penguins need that again. While the farm system is thin, there are some candidates to take big steps forward at the NHL level. Dominik Simon is polarizing because he is a favorite of the coaching staff and struggles to score goals, but he is a good defensive player and playmaker. Jared McCann is a favorite of the front office because they love his potential and he had a strong showing after the trade from Florida. He needs to show it was not a fluke. Dominik Kahun is an intriguing add from Chicago and is coming off a solid rookie season. And even though this might be for a couple years down the line, Pierre-Oliver Joseph is the exact type of defender they need to emerge and become a regular.

The three superstars at the top are the most important ingredient. But they are only part of the recipe. These three keys are just as important.

MORE:
• ProHockeyTalk’s 2019 NHL free agency tracker
• Your 2019-20 NHL on NBC TV schedule

Adam Gretz is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @AGretz.

It’s a big year for Penguins’ Matt Murray

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Each day in the month of August we’ll be examining a different NHL team — from looking back at last season to discussing a player under pressure to identifying X-factors to asking questions about the future. Today we look at the Pittsburgh Penguins.

Pittsburgh Penguins goalie Matt Murray has a lot to prove this season.

He has to prove to the NHL that he is still the goalie that backstopped his team to back-to-back Stanley Cups, and he has to prove to the Penguins that he is worthy of a significant long-term commitment after this season when his current deal expires.

Murray is an interesting player because he has already accomplished more in his first four years than most goalies will accomplish in an entire career. But for all of that team success there is still some debate as to what type of goalie he is and what his long-term prospects are as a No. 1 goalie.

His first two years in the league where as good as any goalie in the history of the league, maintaining a save percentage over .925 (regular season and playoffs) and winning two championships.  He regressed during the 2017-18 season and playoffs and then stumbled badly out of the gate this past season before catching fire when he was finally healthy in mid-December, playing some of the best hockey of his career between mid-December and the end of the regular season.

Looking at his career from a big picture perspective, he has been mostly outstanding when healthy and his play over the final four months of the 2018-19 season was probably one of the biggest reasons, if not the biggest reason, the Penguins were even able to make the playoffs. He masked a lot of flaws the team had defensively and their success was driven mostly by how he played.

[MORE: 2018-19 Summary | Under Pressure | 3 Questions]

When he was good, the Penguins won. When he was not good, they did not win.

Barring something unforeseen he is going to continue to be the Penguins’ starting goalie for years to come because, 1) he is good, and 2) they have zero organizational depth behind him. It is his spot. So while it is a little odd that have not made a new contract a priority (Jake Guentzel, Mike Sullivan, Jim Rutherford all signed long-term contracts within the organization over the past year — but the starting goalie has not) they still have time to get it done.

And Murray has time to show just exactly what type of goalie he is and what he is worth.

He is definitely the Penguins’ biggest X-Factor this season because with the makeup of their defense he is probably going to be tested often. Again. The Penguins are not as strong in front of him as they were two or three years ago and have a much smaller margin for error, finishing just four points clear of the first non-playoff team this past season. Even playing on a team that has Sidney Crosby, Evgeni Malkin, and Kris Letang as the core there is probably not a single player that will impact what they are capable of more than Murray. They all showed this past season how much his play impacts them in the standings.

If he plays like he did from December-March of this past season, which is pretty close to how he played in 2015-16 and 2016-17 when he was lifting the Stanley Cup, he is going to be in line for a huge contract.

If he plays like he did between 2017 and the end of November in 2018, it might create a little more uncertainty for the Penguins and make his next deal a little more complicated.

MORE:
• ProHockeyTalk’s 2019 NHL free agency tracker
• Your 2019-20 NHL on NBC TV schedule

Adam Gretz is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @AGretz.

Penguins questions include defense, trade bait, and Malkin’s bounce-back

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Each day in the month of August we’ll be examining a different NHL team — from looking back at last season to discussing a player under pressure to identifying X-factors to asking questions about the future. Today we look at the Pittsburgh Penguins.

Three pressing questions for the 2019-20 Pittsburgh Penguins

1. Is the defense good enough?

In the opinion of general manager Jim Rutherford, yes. He has repeatedly defended the construction of his defense and at one point even went as far as to call it the best defense he has had during his time in Pittsburgh. High praise considering he has been in Pittsburgh for two Stanley Cup winning teams.

This team, though, is not coming off of a Stanley Cup win and there is little objective evidence to suggest this defense is anything better than ordinary. They were 12th in the NHL in goals against this past season and even that ranking was driven significantly by the performance of Matt Murray in net thanks to some of the best play of his career from mid-December on.

As a team, the Penguins were one of the worst teams in the league at preventing shots, average in preventing scoring chances, and a little below average on the PK. They have one great defense pairing in Kris Letang and Brian Dumoulin (one of the best pairings in all of hockey) and then a bunch of flawed players and question marks after that. Other than shipping out Olli Maatta over the summer, the Penguins have done nothing else to change the look of their defense. Rutherford obviously believes in this group, and he is taking a pretty big bet that he is right.

2. Who is the next salary cap casualty or trade chip?

This is probably more of a preseason question than a question for the season, but somebody has to go.

Trading Phil Kessel was supposed to alleviate some of the salary cap crunch, but taking Alex Galchenyuk as part of the return and signing Brandon Tanev in free agency quickly erased that savings. Add that to the returning contracts for Jack Johnson and Erik Gudbranson and the Penguins have a significant chunk of money going to depth players that probably are not moving them closer to another championship. It has put them in a position where they have to move out someone else.

As it stands, they are slightly over the salary cap and still have to re-sign RFA Marcus Pettersson. After this season, Galchenyuk, Justin Schultz, Jared McCann, Dominik Simon and starting goalie Matt Murray will be in line for new contracts. So who goes?

[MORE: 2018-19 Summary | Under Pressure | X-Factor]

Johnson or Gudbranson could be an option to go off the blue line and would probably the ideal trade bait, while Bryan Rust or Nick Bjugstad seem like logical candidates at forward.

3. Will Evgeni Malkin bounce back?

It is a good bet that he will.

The final offensive numbers from this past season look good (better than a point-per-game average) and he had a great start to the season, but his production really slumped over the final three quarters of the season and especially at even-strength. His defensive game was also lacking and he will be the first to say the 2018-19 season was not his best. He can be better, and the Penguins need him to be better. Malkin is a proud player and will no doubt be motivated to show this past season was a fluke and that he is still one of the league’s best and most dominant players. A driven Malkin playing at his best is a season-changing player, and if he gets back to that level it will be more valuable to the Penguins than any other potential offseason addition could have been.

MORE:
• ProHockeyTalk’s 2019 NHL free agency tracker
• Your 2019-20 NHL on NBC TV schedule

Adam Gretz is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @AGretz.

P.K. Subban, Lindsey Vonn announce engagement

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Lindsey Vonn and P.K. Subban are engaged, according to U.S. Ski & Snowboard.

Vonn, who retired in February with a female record 82 World Cup wins, and Subban, a New Jersey Devils defenseman, have dated for more than one year.

Vonn was previously married to fellow Olympic skier Thomas Vonn in 2007. They announced divorce plans in late 2011.

Vonn reportedly grimaced when asked in 2013 if she would get married again.

“No, thanks!” she said, according to Vogue then. “I am definitely not getting married. To anyone.”

After her divorce, Vonn dated Tiger Woods and NFL assistant coach Kenan Smith before dating Subban, going public in June 2018.

“Right off the bat, I knew he was different,” Vonn said, according to a Vogue magazine announcement of the engagement. “But I’d been married before, so I was pretty hesitant to let myself think that I could find someone that I would want to be married to again. After a few months of dating, I knew he was the one I wanted to be with, though.”

Subban, 30, also owns an Olympic gold medal playing for Canada in Sochi.

“Lindsey’s the best thing that’s ever happened to me,” Subban said, according to Vogue. “There are people in life that deserve to be with good people. They have that person who takes care of them and makes them smile, and she deserves to be with someone who loves her more than anything else in the world, and I do.”

Vonn and Subban would become one of the most prominent married Olympic champion couples, joining the likes of tennis players Andre Agassi and Steffi Graf and gymnasts Nadia Comaneci and Bart Conner.

For more from Nick Zaccardi check out Olympic Talk on NBC Sports