Free agency is now less than a month away and many teams are already looking ahead to when it opens up. There will be several prominent players set to hit the open market in mid-July while many teams have key restricted free agents to re-sign as well. Next up is a look at the Senators.
Key Restricted Free Agents
F Joshua Norris — While Senators GM Pierre Dorion previously called the day he traded Mark Stone to the Vegas Golden Knights “one of the proudest” days he’d had in his career as a GM, it’s his trade of Erik Karlsson that was the real stroke of brilliance. Not only did the Senators receive the draft pick used to select budding star Tim Stutzle in exchange for their captain, they also received center Joshua Norris, who was then in his freshman season at the University of Michigan. Norris was drafted 19th overall in 2017 and has blossomed into a lethal goal scorer. With Brady Tkachuk at his side, Norris scored 35 goals this year and finished 2021-22 with 55 points in 66 games, a 68-point pace. Norris also showed some improvements in his defensive game. While Norris’ 20.3% shooting percentage is high enough to raise questions about the sustainability of his goal scoring, Norris did have a 17.7% shooting percentage in 2020-21 and some high-end goal scorers are simply capable of sustaining inflated shooting percentages thanks to their elite shooting talent. Norris could be in that category, and the Senators shouldn’t drag their feet in locking Norris down on a long-term deal. Montreal Canadiens center Nick Suzuki’s eight-year, $7.875MM extension could be a solid number for a maximum-term deal, and it would come under Tkachuk’s $8.2MM cap hit, meaning Norris wouldn’t be making more than the captain. The Senators may want something a bit cheaper, maybe along the lines of the five-year, $6.1MM AAV extension Dylan Larkin signed, but with comparable young centers like Suzuki and the New Jersey Devils’ Nico Hischier signing long-term deals north of $7MM AAV, expect any long-term deal for Norris to come in at around that number as well.
F Mathieu Joseph — Joseph is an extremely interesting case heading into this offseason. Earlier in the season, his offseason case would have looked pretty simple. As an arbitration-eligible restricted free agent, Joseph would have had the option to take whatever the arbitrator awarded him and inch closer to a trip to unrestricted free agency. But now, there could be more appetite to get an extension done from the team side of the equation, thanks to a mid-season trade to the Senators. Joseph arrived in Ottawa in exchange for Nick Paul and found immediate success there. He fit naturally next to Norris and Tkachuk, and in the first week of April Joseph had 10 points in just four games. It was that four-game stretch that served as an endorsement of Dorion’s belief in Joseph, and also serves as the root of uncertainty with Joseph entering this offseason. Do they pay him for what they think he can be? Or do they opt to let him take a one-year deal in order to see if the talent he flashed is there to stay? It’s a risky situation, because either option could easily end up being a mistake. If he plays as he did in that stretch over the course of a full season in Ottawa, his price skyrockets. But if the Senators commit now, there’s the chance that his scoring outburst was just a mirage, and they’ve overpaid for the idea of a player rather than the reality of the one they have. With all that in mind, Joseph seems like an under-the-radar pick for the most intriguing restricted free agent situation of the offseason.
F Alex Formenton — This past season was the year that winger Alex Formenton finally broke into the NHL full-time, and his impressive rookie year couldn’t have come at a better time, as he’s lined himself up for a nice raise from the $747k cap hit he played on last season. Formenton scored 18 goals and 32 points in 79 games last year, a goal total that ranked fourth on the Senators. Formenton’s speed is his best asset, and he got to show it off on the penalty kill. Formenton averaged just under 2 minutes of short-handed ice time per game, on a penalty kill that impressively ranked 13th in the NHL. Formenton looks like he could be a long-term asset in the Senators’ middle-six, providing valuable goal-scoring, speed, and special-teams ability. While a bridge deal is definitely possible, the Senators could also look to sign Formenton to a long-term deal in order to protect against any improvements to his game driving up his price. Perhaps the best contract to use as a guide would be Buffalo Sabres forward Alex Tuch, who signed a seven-year, $4.75MM deal with the Golden Knights after a rookie season where he scored 15 goals and 37 points in 78 games, similar numbers to Formenton’s this year. $4.75MM is a lot to commit to Formenton for what he is now, but teams should be paying for what players are going to do, rather than what they’ve already done. Tuch quickly made his contract look like a steal and Formenton definitely has the talent to do the same.
Other RFAs: F Adam Gaudette, D Erik Brannstrom, G Michael McNiven
Key Unrestricted Free Agents
F Chris Tierney — Like Norris, Tierney also came to Ottawa as part of the Erik Karlsson trade. Unlike Norris, though, Tierney has played his way out of a long-term stay in Ottawa rather than played his way into one. Tierney’s first season with the Senators was a great follow-up to the promising final season he had with the Sharks. While he only scored nine goals, he finished with 48 points. While some expected the 24-year-old Tierney to build off of that season and have it serve as the baseline for the production that could be expected of him, Tierney regressed. First only a little, with a small decline in 2019-20 to only 37 points in 71 games. But it was 2020-21 where things really went downhill, as Tierney had only 19 points in 55 games, the lowest he’d ever marked in an NHL season. This year was no better, as he had 18 points in 70 games. Dorion stated at his end-of-season press conference that Tierney would not be extended in Ottawa, so he will look to find a role with another club seeking to unlock the potential he showed just a few years ago.
D Victor Mete — While Mete is technically a pending restricted free agent, Dorion has already stated that Mete would not be issued a qualifying offer and would therefore become an unrestricted free agent, hence him being listed here. Mete is an interesting case, as he’s the sort of player that, on paper, a team like Ottawa should be committing to developing. Mete, now 24, was once one of the Montreal Canadiens’ top defensive prospects, and he first made the NHL playing as Shea Weber’s partner. But while Mete’s abilities in transition as a puck-mover were always his calling card, no other aspect of his game developed as the Canadiens had hoped. Mete famously took 126 games to score his first NHL goal, and the lack of development of the rest of his tools, beyond his abilities in transition, caused the Canadiens to eventually waive him. Many were calling for teams to claim Mete, and the Senators did just that. But unfortunately for the Senators and Mete, it was more of the same in Ottawa, and by 2021-22 he found himself a frequent healthy scratch. Mete enters the offseason with the chance to choose his destination for the first time in his career, and given his history there still is some reasonable hope that he could develop into an NHLer. But the clock’s ticking on him, and the choice of his next destination will go a long way in determining if he’ll eventually turn into the NHL defenseman many once believed he could be.
Other UFA’s: F Tyler Ennis, F Andrew Agozzino, F Clark Bishop, F Scott Sabourin, F Zachary Senyshyn, F Logan Shaw, D Dillon Heatherington, D Zac Leslie
Projected Cap Space
This is where the Senators have an advantage over other teams. In a flat-cap era where having flexibility under the salary cap is at an absolute premium, Ottawa has over $20MM in projected cap space entering this offseason. Sure, a lot of that should be earmarked for potential extensions for Norris, Formenton, or even an early deal for Stutzle, but they’ll still have more room to maneuver than most teams. That’ll be especially true if they find a way to get out from under Matt Murray’s $6.25MM AAV deal. A buyout seems like the most likely solution, as it would not only save the Senators $5MM in real cash but also give them $4.5MM in cap savings this year and $5.5MM next year, at the cost of $2.5MM in dead money for the next two seasons after that. With the Senators looking to go hunting for a big name this offseason, expect their advantageous cap position to be leveraged to a great degree in order to maximize their ability to compete in the near future.
Photos courtesy of USA Today Sports Images. Contract information courtesy of CapFriendly.
Since Ottawa management do not possess crystal balls any more than the rest of us, no, they should not be paying players for what they’re “going to do,” especially when they’ve never actually DONE it before.
The whole reason so many teams are in cap hell is that they airily assume that a guy who scores 18 will surely score 25-30, and not only next season but for the next seven years, so sure, let’s hand him $5MM AAV with big term. Or they airily assume that a player who’s been a consistent performer for seven years will surely perform at the same level for the NEXT seven years (even though he’s already 30), so sure, let’s hand him big money with big term. Or they airily assume that a guy who’s been injury-prone will suddenly be healthy from now on, or that a guy who scored a freak season of 27 goals three years ago is really a perennial 30-goal scorer waiting to happen, or that a goalie who had three excellent seasons four years ago (and mediocre ones since) will somehow bounce back. Because, *reasons*.
Tuch looked good for the Sabres, sure. But he didn’t sign that contract after his rookie year; he did so after his second year, after scoring 20-32-52. And he bombed hard that next season, did well in 2021. Either way, he hasn’t yet played up to his contract.
@Nha Trang – Remember, Ottawa is the King of “low bars.” Maybe GMPD thinks he can overpay guys (spelled b-r-i-b-e) to stay there, with the mutual understanding that being competitive will be more by accident than by design. Or, perhaps their goal is to be renamed the Ottawa League Mins.
Yeah. Whatever free agent success the Sens have this offseason will be because guys want contracts that 80% of the league CAN’T offer them, even if they wanted to do so.
They’ll lock up Gulk long term
Great insight Nha Trang!! I don’t understand NHL management either when It comes to throwing money around especially In a flat cap era.