Navigating the salary cap is one of the more important tasks for any GM. Teams that can avoid total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful. Those that don’t see struggles and front office changes.
PHR will look at every NHL team and give a thorough look at their cap situation heading into the 2023-24 season. This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL. All cap figures are courtesy of CapFriendly.
Detroit Red Wings
Current Cap Hit: $78,343,473 (under the $83.5MM Upper Limit)
Entry-Level Contracts
F Jonatan Berggren (one year, $925K)
F Lucas Raymond (one year, $925K)
D Moritz Seider (one year, $863K)
Potential Bonuses
Raymond: $2.5MM
Seider: $850K
Total: $3.35MM
Raymond wasn’t able to match his rookie-season output that saw him finish fourth in Calder Trophy voting but he still did well, notching 45 points in 74 games. Both sides certainly believe he has more in the tank than that which makes him a long-term extension candidate. At this point, the magic number might have to start with a seven for that to happen. A bridge agreement would be closer to the $4MM range. Berggren had a solid rookie showing last season but with the extra depth the Red Wings added up front, he will be hard-pressed to command a higher spot on the depth chart. Accordingly, he’s likely heading for the short-term second contract; if he can stay around the 30-point mark, that deal should check in around double his current price tag.
Seider also didn’t live up to the expectations of his rookie campaign in 2021-22, a performance that saw him win Rookie of the Year. But as far as sophomore seasons go, his was still pretty good. The sixth-overall pick in 2019 is their undisputed number one defenseman and there’s little reason to think that the best isn’t yet to come. With that in mind, it would make sense for GM Steve Yzerman to zero in on a long-term second contract. The eight-year, $64.4MM extension that Jake Sanderson signed with Ottawa recently figures to be the starting point in negotiations. From the bonus perspective, Seider could reach all four of his ‘A’ bonuses (Raymond has four worth this amount as part of his deal as well) but Detroit has ample space to absorb that on their books this season.
Signed Through 2023-24, Non-Entry-Level
F Christian Fischer ($1.125MM, UFA)
D Shayne Gostisbehere ($4.125MM, UFA)
F David Perron ($4.75MM, UFA)
F Michael Rasmussen ($1.46MM, RFA)
G James Reimer ($1.5MM, UFA)
F Daniel Sprong ($2MM, UFA)
F Joe Veleno ($825K, RFA)
Perron typically hadn’t had much success outside of St. Louis but changed that last year, continuing his streak of recording at least 55 points in a season for the fourth year in a row. Another season like that would seemingly boost his value but he’ll be 36 at that time and pricey multi-year deals are hard to come by at that age. Sprong was non-tendered for the second straight summer to avoid salary arbitration despite a breakout performance that saw him pass 20 goals and 20 assists for the first time. If he can repeat that this season, he could double this price tag a year from now.
Rasmussen battled injuries last year but still hit a new benchmark in points. His development has been slower but steady as they look to turn him into a second-liner. That might not happen this season but he’s still setting himself up for an AAV past the $2MM mark if he can repeat last year’s output. Fischer came over in unrestricted free agency after being non-tendered by Arizona and will need to show that last season’s offensive improvement (27 points) is repeatable to avoid being typecast into a fourth-line role. Veleno opted for a one-year lower-cost bridge agreement in the hopes of locking down a bigger role which would set him up for a better pay day next summer. Either way, he’ll be arbitration-eligible which will help his cause.
Gostisbehere’s case is an interesting one. Offensively, he produces at a rate that’s well above average but he gives a good chunk of it back at the defensive end. His situation reminds me of Tyson Barrie, a proven offensive producer but someone who struggles to generate long-term contracts on the open market. Playing time will be harder to come by in Detroit which should lower his output (and value) next summer. A multi-year deal starting with a three might be his best option next summer.
Reimer comes over in free agency from San Jose coming off by far the worst season of his career. On what should be a better team, a rebound is expected but if it’s not a significant one, his market value might take another tumble at the age of 36 next summer.
Signed Through 2024-25
F Robby Fabbri ($4MM, UFA)
G Ville Husso ($4.75MM, UFA)
F Klim Kostin ($2MM, RFA)
D Olli Maatta ($3MM, UFA)
D Jeff Petry ($2.344MM, UFA)*
*-Montreal is retaining $2.344MM per season; Pittsburgh is retaining $1.563MM per season.
Fabbri’s contract seemed like a reach when he signed it in 2021. When healthy, he plays like a $4MM player but he just can’t stay healthy. He will need to shed that label to have any chance of a deal near this price point in 2025. Kostin came over in an odd trade with Edmonton as one player was bought out and Kostin himself was non-tendered to avoid arbitration. They got this deal done soon after, a nice improvement for someone who cleared waivers in training camp last season. Detroit is clearly banking on Kostin having an ability to improve upon last season’s production and if he can, they’ll have an intriguing power forward on their hands. With those, the price tag usually only goes up from there.
Maatta’s decision to sign with Detroit last summer proved wise as he earned himself this in-season extension to keep him around longer. He’s not at the level he was in his rookie year but can still play in the top four when needed and kill penalties. This seems a bit above market but not by much. Petry is coming off a down year in Pittsburgh but still should serve as a capable replacement for Filip Hronek behind Seider on the right side of the depth chart. He’ll be turning 38 soon into his next deal and it’s fair to say that it will be a lot lower than his base $6.25MM AAV.
Husso was an interesting pickup by Yzerman last summer. Detroit traded for his negotiation rights which is something we don’t see a lot of nowadays. Husso then received a pretty sizable contract for someone with just 53 career NHL starts under his belt. The results in his first season were mixed. There were flashes where Husso looked like a capable starter (or at least a strong-side platoon option) and others where he struggled mightily. Now with a full season under his belt, it will be interesting to see if he can improve and help lead Detroit into a push for the playoffs. If that happens, he could set himself up for a small raise in 2025 but if not, he’ll drop more into the category of a true platoon goalie whose market value is about a million less than his current price tag.
Signed Through 2025-26
D Ben Chiarot ($4.75MM, UFA)
D Justin Holl ($3.4MM, UFA)
D Jake Walman ($3.4MM, UFA)
Chiarot received one of the bigger deals for a blueliner last summer but he struggled in his first season despite playing a similar role to the one he had some success with in Montreal. With a deeper back end now, it’s possible that a lesser role might make Chiarot a better fit this season. Walman is still relatively unproven as last season was his first where he played more than 51 games. But he showed enough to give the Red Wings some enthusiasm to think there’s more still to come. If that’s the case, this could be a bargain. If not, it might wind up a bit above market value as well. Holl’s contract looks above market value already after he struggled in Toronto last season to the point where he was scratched at times in the playoffs. A right-shot defender (which always carries extra value), he can hold down a lesser role on this back end but this is a high price for a third-pairing player.
Signed Through 2026-27 Or Longer
F J.T. Compher ($5.1MM through 2027-28)
F Andrew Copp ($5.625MM through 2026-27)
F Alex DeBrincat ($7.875MM through 2026-27)
F Dylan Larkin ($8.7MM through 2030-31)
It took longer than expected but Larkin eventually got a deal done last season after some comparable deals ultimately helped his price range in place. He doesn’t quite produce like a true top center but does enough in that role that he should provide a good return as long as he remains their top middleman. DeBrincat comes over following a down year in Ottawa but brings a much-needed scoring threat to Detroit’s top line. He didn’t get the long-term, big-money deal he was seeking but this is a reasonable compromise, one that gives the Red Wings a boost now but allows DeBrincat to take a shot at free agency at age 30 where he could look to secure a raise and another long-term pact at that time.
Detroit’s lack of depth down the middle led them to take a gamble on Copp last summer following a breakout year. Historically, he has produced more like a third-liner and he reverted back to that last season. While he brings value as a strong defensive player, it’s fair to say they’re looking for more. In fact, his struggles likely contributed to Yzerman making a similar gamble on Compher, a player who had a breakout year with Colorado last season but has been more of a third-liner previously. He showed he could handle big minutes with the Avs in 2022-23, a team that battled significant injuries but playing time will be harder to come by here. This contract is certainly a risk on Detroit’s end.
Buyouts
F Justin Abdelkader ($1.056MM through 2025-26)
F Kailer Yamamoto ($433K in 2023-24, $533K in 2024-25)
Retained Salary Transactions
D Jakub Vrana ($2.625MM in 2023-24)
Still To Sign
None
Best Value: Rasmussen (entry-level deals are excluded from consideration)
Worst Value: Copp
Looking Ahead
Despite quite the spending spree by Yzerman this summer, cap space isn’t an issue for Detroit which is well-positioned to absorb the bonuses that Raymond and Seider are likely to hit. If they’re in a position to add at the trade deadline, they should be a team to keep an eye on as they can take on some contracts and have a decent prospect pool to deal from.
While the Red Wings will have around 10 roster spots to fill next summer, they should have around $30MM to work with to fill them, putting them in a good position to take a swing at adding another core piece. Longer-term, they’re similarly well-positioned as a lot of their signings have been medium-term fillers. It has been a very slow build in Detroit but more spending sprees to build their roster should be on the horizon.
Photos courtesy of USA Today Sports Images.