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Signing Laine and other Jets cap challenges after Wheeler extension

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The Winnipeg Jets answered a big question on Tuesday by signing captain and star winger Blake Wheeler to a five-year, $41.25 million extension. That removes a huge item from the franchise’s to-do list, yet they face plenty of challenges in keeping this talent-packed roster together for the long haul.

Much of the future worries come down to extending Patrik Laine, but there are other considerations that can make an impact on this loaded team’s ability to contend.

Winnipeg’s cap questions are pretty involved, so let’s go step by step.

(Note via Cap Friendly’s numbers: Winnipeg has about $10.24M in cap space as of this writing. They have about $52.48M committed to 11 players heading into 2019-20, which would give them a bit more than $27M to work with in the unlikely event that the cap would remain at $79.5M.)

More Morrissey

GM Kevin Cheveldayoff faces one more big obstacle for 2018-19: hashing out a contract with RFA defenseman Josh Morrissey.

Right now, the tone seems to be “don’t panic,” even though training camp is rapidly approaching.

The Jets are running some risky business when it comes to their young defensemen.

Jacob Trouba may just become hockey’s answer to Kirk Cousins: a player either forced to or willingly choosing to make short-term bets on himself with the goal of a big payday in the future. Winnipeg is lucky enough that, despite that arduous arbitration hearing, Trouba would only be considered an RFA if he makes it to next summer without a deal. Still, it’s tough to shake the impression that the situation will end with Trouba eventually playing for a different NHL team, much like Cousins ultimately left Washington.

Winnipeg must walk a fine line with two young defensemen (Trouba’s 24, Morrissey is 23). It’s easy to see why Morrissey would prefer a “bridge” contract, particularly considering the defensemen who may be forced out with the cap crunch.

Beyond the Trouba turmoil, Tyler Myers‘ contract ends after 2018-19, with both of those defensemen carrying $5.5M cap hits. Morrissey could goose his numbers by naturally earning more minutes next season, but especially so in the likely event that Myers can’t fit under the cap.

Then again, the added security of term could be quite appealing if the Jets decide that Morrissey is worthy of a Noah Hanifin-ish commitment.

(Goalie Eric Comrie is also an RFA in need of a deal.)

While Morrissey’s situation is unsettled, the Jets made substantial investments in other players, for better or worse:

Long-term commitments: the very good, and the troubling

Whether they end up being wise or imprudent investments, Cheveldayoff committed to some serious term in recent (and semi-recent) situations.

Wheeler’s cap hit goes from $5.6M next season to $8.25M starting in 2019-20. As of this writing, he’s a bargain at both rates, but the unavoidable concern is for regression, considering that the American-born forward is already 32. (He’ll be 33 right before his extension kicks in.)

The Jets also made an interesting bet on young goalie Connor Hellebuyck, handing the 25-year-old a six-year contract that carries a $6.167M AAV. It says a lot about how perception can change in a year, as the Jets signed Steve Mason to a fairly healthy two-year, $8M deal heading into 2017-18 thanks to the uncertainty they still faced in net. If Hellebuyck replicates (or at least produces work close to) his strong, steady season, then that cap hit could be a nice bargain. Goalies are risky, though, and the Jets ended up regretting Ondrej Pavelec’s rancid contract for basically its entirety. Maybe the Hellebuyck contract is “the price of doing business,” but that bill could create some buyer’s remorse if last year was a mirage.

Overall, the Jets boast eight lengthy commitments (three years or more) at significant rates* as of this writing: Wheeler, Hellebuyck, Mark Scheifele, Nikolaj Ehlers, Dustin Byfuglien, Bryan Little, Mathieu Perreault, and Adam Lowry.

Scheifele’s $6.125M ranks on the shortlist of the absolute best bargains in the NHL, especially since it runs for six more seasons. If the Jets manage to wade through this jungle of cap challenges, credit that Scheifele bargain and also locking down Ehlers at an affordable (and potentially steal-worthy) $6M long-term as two key developments.

Some of the veterans might provide problems, though. Little’s been a hidden gem through even the Atlanta Thrashers days, yet the 30-year-old’s $5.292M cap hit already looks dicey, and it runs through 2023-24. Little’s contract may force out a valuable-yet-not-essential player like Perreault, who virtually always shines from an analytics standpoint, and does so at a reasonable $4.125M clip.

Winnipeg’s cap crunch could force out some combination of Little, Perreault, or Lowry, while Dmitry Kulikov may force some LTIR shenanigans.

(Hey, at least other contenders have set a template for how Winnipeg could … “bend some rules.”)

* – Sorry, Tucker Poolman, whose name will forever sound like a fake handle for someone in a fantasy league.

Aiming for raises

All of the situations above bleed into the Jets’ biggest worries: what’s next to come.

Patrik Laine’s rookie contract expires after next season, and Winnipeg can sign him to an extension at any time. Laine already scored 80 goals and 134 points in just 155 games, and it’s tough to imagine his standing in the league falling after 2018-19. The Jets essentially have to hope that Laine will fall in line with other rising stars who’ve signed for relative discounts, as his RFA status only means so much.

Laine is the biggest ticket item, but far from the only player who could rake in big bucks.

Kyle Connor represents a potentially tricky situation. After a minimal, truncated rookie season (5 points in 20 games in 2016-17), Connor broke through last year, managing 31 goals and 57 points.

If you’re Winnipeg, you probably would prefer to sign him to a reasonable extension instead of letting him flirt with even bigger totals in 2018-19, considering that only seven of his 31 goals came on the power play. (Though, to be fair, Connor received pretty healthy reps.)

With Trouba’s situation merely postponed for a year and Morrissey possibly only getting a bridge deal, the Jets could still face some big calls with key players. That’s especially true if management views re-signing Tyler Myers as a necessity rather than a luxury.

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Overall, the Jets need to try to find value in the next deals for Laine and Connor, while making the right calls with Morrissey and Trouba.

While contenders such as the Chicago Blackhawks have shown that you can get out of a bad deal or two, they’ve also cemented the notion that you might end up regretting being loyal to the wrong players. The Jets handed out no-trade or no-movement clauses to veterans such as Wheeler, Byfuglien, Little, Kulikov and Perreault, which may only complicate matters.

For a GM who inspired puns about “taking the day off,” Kevin Cheveldayoff sure has his work cut out for him.

James O’Brien is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @cyclelikesedins.