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Salary Cap Deep Dive: San Jose Sharks

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Navigating the Salary Cap is probably one of the more important tasks for any general manager to have. Teams that can avert 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 2018-19 season. This will focus more on those players who are integral parts of the roster versus those who may find themselves shuttling between the AHL and NHL. All cap figures are courtesy of CapFriendly.

San Jose Sharks

Current Cap Hit: $75,119,584 (under the $79.5MM Upper Limit)

Entry-Level Contracts

F Dylan Gambrell (one year, $925K)
F Timo Meier (one year, $894K)
F Maxim Letunov (one year, $833K)
F Kevin Labanc (one year, $718K)

Potential Bonuses

Meier: $850K
Gambrell: $425K
Labanc: $183K

Total: $1.46MM

The team has gotten great play from their youth in the last couple of years as several players have taken that next step and become regular contributors to the Sharks’ lineup. Meier may be one of the best as the 21-year-old broke out with a 21-goal season last year. The ninth-overall pick in the 2015 draft looks ready to continue a top-six role and perhaps become a key contributor there for many more years. Meier is also playing for a big payday, so if he can take that next step and develop into a 30-goal winger, he would be heading in the right direction.

Gambrell only managed to appear in three games for the playoff-bound Sharks after he signed out of the University of Denver. The 22-year-old center is likely to force his way into a forward role in the bottom-six after he posted three straight 40-point seasons in college. Labanc, who had struggled with consistency in previous years with San Jose, finally broke into a full-time role with San Jose and produced 11 goals and 40 points. He could be primed for an even bigger year, just in time as his entry-level deal will run out.

One Year Remaining, Non-Entry-Level

F Joe Pavelski ($6MM, UFA)
F Joe Thornton ($5MM, UFA)
F Joonas Donskoi ($1.9MM, UFA)
F Marcus Sorensen ($700K, UFA)
F Barclay Goodrow ($650K, RFA)
D Joakim Ryan ($650K, RFA)
D Tim Heed ($650K, UFA)

Much of the Sharks success in the next few years will come down to the play of Thornton and Pavelski, two players that have helped carry the team during their years of success. Both players are on their final year of their deal. Thornton signed a one-year deal and only time will tell whether he will continue that career at age 39. Despite suffering a torn MCL in January, he still posted solid numbers, scoring 13 goals and 36 points in 47 games. His days of posting 80 points are likely over, but if he can prove he can still produce, he could be back for several more one-year deals. Pavelski is another matter. The 34-year-old is starting to decline, but likely wants to ink one last long-term deal. While it makes sense that both sides will eventually come to an agreement, much is depending on the success that Pavelski has this season as well.

Donskoi shows improvement as well, posting a career-high 14 goals last season. His play improved to the point that he got some playing time on the first line as he generates shots as the team attempted 53.73 percent of five-on-five shots, while the team shot just 49 percent without him on the ice.Read more

Snapshots: Sharks, Trottier, Vitale

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Are the San Jose Sharks done for the summer? In a mailbag for The Athletic, Kevin Kurz addresses the concerns of some fans that the team has not done enough this off-season after missing out on John Tavares. Kurz states that GM Doug Wilson still has the full faith and support of ownership – as he should seeing that the Sharks have the highest average finish in the league during his tenure – and reiterates that Wilson always says that the roster isn’t complete until the trade deadline. Given that San Jose hit a home run with the Evander Kane trade this past spring and fueled their Stanley Cup run in 2016 by adding James Reimer, Nick Spaling, and Roman Polak, that mantra has been proven true. However, is waiting until March going to cut it this season? Kurz points out that between Tavares, Ilya Kovalchuk, and Max Pacioretty, it seems that the Sharks wanted to do more this summer. Pacioretty is still one of several potential trade targets prior to the beginning of the season, but it seems more likely that the Sharks will go into the season as is and let their play in the first few months of the season dictate whether a big move is necessary or not. However, a slow start or a major injury could cause Wilson to reinvigorate his search for scoring depth.

  • The New York Islanders have had a far worse summer than the Sharks and maybe any team in the league, but one of the franchise legends is still confident in the direction of the team. Hall of Famer Bryan Trottier sat down with NHL.com’s Dave McCarthy recently and spoke about the “bright future” of Mathew Barzal and the Islanders, despite the departure of John Tavares. “For him to… have the kind rookie season he had, he’s not disappointing anyone… I see wonderful things for Mathew in the future and for the Islanders”, Trottier stated. Between a legitimate rising star in Barzal and an impressive pipeline featuring the likes of Kieffer Bellows, Oliver Wahlstrom, Noah Dobson, Bode Wilde, and Robin Salo, Trottier is right that the future is bright, but the Isles will likely have to endure a few brutal years before they reach that point. Yet, Trottier also spoke to the credibility that new GM Lou Lamoriello and new coach Barry Trotz bring to the team and feels that with their leadership and the talent on the roster, the team can still succeed if others step up. This first season without Tavares will be telling as to how the team will fare in the coming years.
  •  One recently retired NHLer is getting back into the game. The Blues have hired St. Louis native Joe Vitale as their new radio analyst for next season, writes Jim Thomas of the St. Louis Post-Dispatch. Vitale announced his hiring live on the Blues’ radio affiliate, KMOX, saying:

    “This is my city… I always wanted to be a Blue. I’m so passionate about this team, since I was born from the very get-go with my dad bringing me to games as a kid.”

    Vitale played six seasons in the NHL, mostly with the Pittsburgh Penguins but wrapping up his career with the Arizona Coyotes after head injuries forced him into premature retirement. Now, he’s feeling positive about getting back into the game with his hometown team. Vitale was a high-energy player, a checking line regular and face-off specialist during his career, and will likely bring that same energy to the Blues broadcast.

 

Sabres Re-Sign RFA Forward Danny O’Regan

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The Buffalo Sabres continue to work through a substantial list of restricted free agents. While it was reported yesterday that they had agreed to terms with forward Nicholas Baptiste, the team this morning both confirmed that deal and announced the signing of fellow RFA forward Danny O’Regan. With the deadline for accepting a qualifying offer arriving later today, O’Regan accepted his offer of $874,125 at the NHL level and $70K at the AHL level.

O’Regan was acquired by the Sabres at the NHL Trade Deadline in the deal that sent Evander Kane to the San Jose Sharks. The 2012 fifth-round pick had recorded four assists through 19 games with Sharks prior to the deal and saw action in two contests with Buffalo down the stretch, but was held scoreless. While his NHL offensive efforts to date – five points in 22 games – are underwhelming, O’Regan has not yet been put in a position to succeed, seeing limited ice time in an energy role. That could change in Buffalo, where he joins former Boston University teammates Jack Eichel and Evan Rodrigues up front for the Sabres. O’Regan displayed strong offensive instincts and scoring ability at BU and in his only full season at the AHL level, scoring at a point-per-game pace over the three campaigns. If given proper opportunity up in Buffalo, O’Regan could prove to be an exciting addition.

With O’Regan and Baptiste officially in the books, that still leaves Justin Bailey, C.J. Smith, and most importantly Sam Reinhart as remaining restricted free agents for GM Jason Botterill and the Sabres to sort out. Perhaps before the deadline today, new deals can be hammered out with Bailey and Smith – both of whom could be bound for the AHL for much of next season – but work on Reinhart’s extension is slow and steady.

Tavares Notes: Toronto, San Jose, Boston

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While reports suggest that John Tavares and his representation are speaking to five teams in Los Angeles, there is some confusion of which teams Tavares’ camp is speaking to. It was reported that the Toronto Maple Leafs, San Jose Sharks and the Dallas Stars are three teams that are definitely meeting with him, while other teams such as Vegas and Tampa Bay have been suggested as possibilities.

The Maple Leafs have been interested in signing Tavares for a long time, years in fact. However, with the state of their salary cap in the coming years with contracts of Auston Matthews, Mitch Marner and William Nylander on the books, there are a lot of questions whether the Maple Leafs are really true candidates to bring Tavares on board, especially after the team splurged a season ago when they pried Patrick Marleau away from San Jose.

The Athletic’s James Mirtle (subscription required) writes that trying to add a contract that at the moment is linked at $11MM per year for Tavares (possibly $12MM) might be challenging, but not totally impossible. Unlike two years ago, when they tried to sign Steven Stamkos when they were a struggling franchise, things are much different. For one, Tavares gets to come home, he can immediate play for a top team which has a legitimate chance to win a Stanley Cup, and lots of cap space in the first year of a contract, which is where the discussion ends.

Mirtle suggests one rumor that has been going around for week is to offer Tavares a one-year max deal, which would be worth $15.9MM. Then the team could attempt to lock him up to an eight-year deal after that. However, that could also be construed as cap circumvention as well as dangerous if Tavares gets injured in that first year. Another offer Toronto could add to the package is the captaincy, but that would also be an issue considering that Matthews has been in line for that role.

  • David Pagnotta of The Fourth Period confirms that the San Jose Sharks were the second team to speak with Tavares and his representatives. He writes that the Sharks are all-in on Tavares and the entire organization is on board to bring Tavares in. With more than $18MM in cap space, the Sharks have the money even after locking up winger Evander Kane to a seven-year, $49MM extension last month. With their defense and goaltending, alongside Tavares, Kane, Logan Couture, Joe Pavelski as well as a bunch of talented younger players that are ready to break out, the Sharks would look like a perennial Stanley Cup contender.
  • Joe Haggerty of NBC Sports writes that while there is no word yet, the scribe gets the sense that the Boston Bruins haven’t been told yet whether they are one of the five teams that Tavares will meet with, but Boston definitely wants a meeting with the center. Boston has almost $12MM of cap space available and a team that is full of both veterans and young stars in which the addition of Tavares could take them to that Stanley Cup level as well.

San Jose Sharks Likely To Buy Out Paul Martin

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With Evander Kane’s extension on the book now, the San Jose Sharks salary cap is much more constrained than it was a year ago. Now, The Athletic’s Kevin Kurz reports there is a “strong possibility” the Sharks plan on easing their salary cap by buying out defenseman Paul Martin next week when the window opens on June 15th. A buyout would save the team approximately $2.8MM in cap space for next season.

The Sharks signed Martin to a four-year, $19.4MM contract back in 2015 to provide a veteran presence to their veteran team. Unfortunately after two solid seasons, Martin really struggled this year. The 37-year-old started the season playing two games, but he never recovered from an ankle injury from the offseason, prompting to miss the next two months of the season. When he returned in December, he found that his position had been taken by Joakim Ryan and the veteran was finally waived in January. He played with the AHL’s San Jose Barracuda for 18 games before returning to his usual spot alongside Brent Burns. However, he was too slow which showed during the playoffs against the Vegas Golden Knights. He was responsible for the Golden Knights Game 3 game-winning overtime goal and lost his job for the rest of the series to Ryan again.

With a buyout, instead of taking Martin’s entire $4.85MM cap hit this year, the team would instead take a 2.02MM cap hit this year and a $1.42MM cap hit in 2019-20, which would save the team close to $2.8MM for next season. With Kane on the books for $7MM AAV for the next seven years and several restricted (Tomas Hertl, Chris Tierney) and unrestricted free agents (Joe Thornton, Eric Fehr, Joel Ward) they must deal with this offseason, as well as the potential extensions available to the Sharks for Logan Couture and Joe Pavelski, the team needs to free up as much cap as possible.

Poll: Should The Sharks Have Re-Signed Evander Kane?

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Yesterday the San Jose Sharks made a seven-year, $49MM contract extension for Evander Kane official. With that news, the team will be forced to surrender their first-round pick in one of the next two seasons. Had they let Kane walk after acquiring him from the Buffalo Sabres mid-season, it would have been just a second-round selection. The team had plenty of cap room with only a few players signed long-term, and were expected to be heavily involved in the free agent market this summer. It’s not clear if Kane’s contract takes them out of discussions for a player like John Tavares, as they also have potential extensions for Logan Couture, Joe Pavelski and others to hand out this summer.

It’s a lot to give Kane, who has only hit the 30-goal plateau once and never recorded 60-points in a single season. That said, he has always been considered an elite power forward waiting for the right opportunity, as his skating and puck skills are both excellent. His production after coming to San Jose showed what he is capable of when healthy and performing up to his ceiling, with 13 goals and 19 points in 26 games down the stretch and into the playoffs. If he can continue that production he’ll be more than worthy of the contract, and he won’t turn 27 until later this summer.

There has been quite a bit of discussion over whether the Sharks should have re-signed him, or used that money elsewhere on their roster and in free agency. James van Riemsdyk for instance could likely give you similar offensive numbers, though his all-around game isn’t quite as impactful. James Neal, David Perron, Paul Stastny or even Thomas Vanek are also available this summer, and have long histories of offensive production. None of them are quite as young, but also likely wouldn’t cost as much.

So what do you think? If we assume that Kane wouldn’t have signed for any less than he did, would you have put pen to paper? Would you have agreed to a seven-year deal, knowing that there are other options likely hitting free agency? Is his upside and early production too hard to pass up? What of the draft pick compensation? Vote below, and make sure to explain your reasoning in the comment section.

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Evander Kane Re-Signs With San Jose Sharks

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It’s official, Evander Kane has re-signed with the San Jose Sharks. The new deal is for seven years, and though the team would not officially release the financial details several reports have it totaling $49MM ($7MM AAV). CapFriendly has the specific year-by-year breakdown:

  • 2018-19: $6.0MM salary, $3.0MM signing bonus
  • 2019-20: $6.0MM salary, $2.0MM signing bonus
  • 2020-21: $3.0MM salary, $3.0MM signing bonus
  • 2021-22: $7.0MM salary
  • 2022-23: $5.0MM salary, $2.0MM signing bonus
  • 2023-24: $6.0MM salary
  • 2024-25: $4.0MM salary, $2.0MM signing bonus

The deal also includes a modified no-trade clause, allowing Kane to submit a three-team list to where he can be traded. The deal isn’t as front-loaded as we’ve seen, but still gives Kane a lot of the money up front in signing bonuses, making it more difficult to buyout in the future should it come to that. Sharks’ GM Doug Wilson obviously doesn’t think it will, and released a glowing review of Kane in his accompanying statement:

At only 26 years old, Evander has established himself as one of hockey’s true power forwards and an impact player. We think his abilities mesh perfectly with our group of skilled, young players and veteran leaders. It’s extremely heartening to have Evander join a trend of elite players who have chosen to remain in San Jose. It speaks volumes as to how players view this organization and further illustrates the continued commitment to our fans by our owner Hasso Plattner.

Kane came over from the Buffalo Sabres at the trade deadline for a package that included Daniel O’Regan, a conditional fourth-round pick and a conditional first-round pick. The condition on that first rounder has now been met, and the Sharks will have to send their selection in 2019 to the Sabres. If however the Sharks miss the playoffs next year, they can send their 2020 first-round selection instead.

The former Atlanta Thrashers draft pick has had an up-and-down career to say the least, but seemed to find his footing in San Jose after the deadline. With 14 points—including nine goals—in 17 games down the stretch, and another five points in nine playoff contests, Kane was a huge part of the Sharks’ offense and seemed to mesh instantly with their top-six. Kane entered the league only two months after turning 18, which has allowed him to hit free agency as one of the youngest players on the market. He won’t turn 27 until August, giving the Sharks plenty of prime years left on this contract.

Still, even with his relative youth and early success for the team this contract comes with its fair share of risk. Kane has only scored 30 goals once in the NHL, and still doesn’t have a 60-point season to his name. Some of that is due to the inconsistent play he showed for teams like Winnipeg and Buffalo, but also the injury concerns that have plagued him every year. There’s never been a season that Kane has played in more than 78 games, with that total coming just this year. Though there are no glaring chronic concerns in his injury history, there is a question of whether his physical style can be maintained long-term. The Sharks are obviously paying for more than just his offensive output, as $7MM per season is only given to the league’s elite. This season, only 25 forwards carried a cap hit of $7MM or greater.

Obviously the team felt that he was worth the contract, but this does add some more intrigue to the free agent class in 2018. This summer’s group is full of scoring wingers, with names like James van Riemsdyk, James Neal and David Perron all available for the right price. Though none of them compare exactly to the type of player Kane is, they all are successful scoring options that can bring a big-bodied presence to the front of the net. Each of their prices likely went up with this contract, and could change whether their respective teams are able to retain them.

For Kane, this is a perfect outcome after struggling to find much consistency throughout his career. The fourth-overall pick from 2009 will now have some long-term stability with the Sharks, and should be given every chance to become one of the league’s best goal scorers. He also becomes the only Sharks forward signed past the 2019-20 season, meaning he may be looked to as their key veteran weapon down the road. Joe Thornton, Joe Pavelski and Logan Couture are all nearing free agency, while younger players like Tomas Hertl, Chris Tierney and Timo Meier look ready to take over as the next wave of core Sharks forwards.

Photo courtesy of USA Today Sports Images

Sharks Nearing Long-Term Extension With Evander Kane

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The San Jose Sharks were clearly happy enough with the play of trade deadline acquisition Evander Kane that they are willing to do whatever it takes to bring him back, which appears to be giving him extensive term and salary and surrendering their first-round draft pick in 2019. Sportsnet’s Irfaan Gaffar reports that the two sides are closing in on a long-term extension, the terms of which appear to be in the seven-year, $49MM range. Per the terms of their trade with the Buffalo Sabres, if Kane does re-sign in San Jose than the second-round pick exchanged in the deal will be elevated to a first-rounder.

It is certainly understandable why the Sharks would want to bring back Kane. The 26-year-old power forward is coming off arguably the best season of his career and certainly his best campaign since being traded to Buffalo from the Winnipeg Jets in 2015. Kane finished the year with 29 goals and 54 points and nine of those goals along with five assists came during the 17-game span that he spent in San Jose to close out the regular season. Kane was the Sharks’ best player during the stretch run and continued to play well in his first ever playoff appearance, notching four goals and an assist in nine games while battling injury. If Kane keeps up that level of play in San Jose, he could be a perennial 30-goal scorer and the type of finisher that the team has sorely lacked outside of Logan Couture. 

Nevertheless, some will balk at the cost associated with re-signing Kane, especially after this report. Giving up a first-round pick has already scared away some fans and analysts alike when the idea of the Sharks bringing back Kane first came up. However, this rumored term and salary is also likely to turn more than a few heads. Though undeniably talented, Kane has been able to put together a complete star-caliber season just twice in his career and brings both off-ice issues and on-ice consistency and effort concerns. Granted, he appeared to fit well and play hard in San Jose, but that is not guaranteed to continue and especially not over seven years or so. The Sharks have enough cap space this season to target some of the biggest names on the market and enough talent to attract those players as well, but some will speculate that an extension for Kane of this amount would take them out of the running for a John Tavares or John Carlson, which could also upset fans and eliminate a major opportunity for San Jose.

However, the Sharks acquired Kane primarily for this year’s playoff run and he performed beyond expectations for a very fair price – Danny O’Regan, a second-rounder, and a fourth-rounder. Even if that pick becomes a first-round selection next year, it still isn’t an extreme over-payment by the Sharks given what they got out of Kane. San Jose now has exclusive right to negotiate with Kane, something they don’t have with the likes of Tavares and Carlson and something that they’ll lose come July 1st. If the team feels that an extension based on his strong trial run is the right move and the best way to use the bulk of their cap space, then doing what it takes to keep Kane, a top five free agent, from hitting the market makes sense. There is absolutely risk associated with a decision of this reported magnitude, but it could pay off for GM Doug Wilson and the Sharks.

San Jose Sharks Could Look Very Similar Next Season

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Many have felt for some time now that the San Jose Sharks could be a team to watch in the upcoming off-season. It’s not often that a team can have the depth and talent of a contender with almost all of their key players locked up and also have an immense amount of cap space, but that is the exact situation that the Sharks are facing this summer. Joe Pavelski, Logan Couture, Brent Burns, and Marc-Edouard Vlasic are all elite players under contract, while reliable pieces like Mikkel Boedker, Justin Braun, and Brenden Dillon have term remaining as well. Yet, the Sharks will still enter the off-season with nearly $15MM in cap space and few holes to fill. For that reason, some have speculated that John Tavares or John Carlson could be headed for San Jose or that the team could load up on other second-tier top free agents.

However, the Sharks are actually somewhat limited in what they can do this summer. A side effect of having so many players locked up is that San Jose actually has little flexibility in terms of straightforward roster management on the free agent market. The Sharks have just nine free agents total, unrestricted and restricted, far and away the fewest in the league as most teams generally have about twenty. Entering the off-season, they will already have 38 of their 50 maximum contracts already in place for next season. Assuming that key restricted free agents like Tomas Hertl, Chris Tierney, and Dylan DeMelo return, that number is already up to 41. It is almost fortunate that top prospects Josh Norris, Scott Reedy, and Mario Ferraro all chose to return to their college teams or that number would be even higher.

Regardless, the Sharks will be left with less than ten slots to add new players unless they start to trade away or buyout existing contracts. If long-time leader and fan favorite Joe Thornton re-signs, there is one less. If deadline addition Evander Kane, who has fit in very well in San Jose, decides to stay put, there’s another one. If the Sharks land a player worth immediate ice time at #21 in the first round of the NHL Draft, that’s yet another spot filled up. No team wants to enter the season with so few contract slots that their hands are tied when the opportunity to make a trade to improve the roster comes around. San Jose also doesn’t want to sign too many multi-year deals with players like Couture, Pavelski, Timo Meier, and Joakim Ryan in need of extensions next season as well.

As such, the Sharks actually seem likely to make only one or two free agent additions this summer – as they did last summer – unless major trades open up some more space in the organization. Could one of those additions be a Tavares or a Carlson? Sure, but if those players choose to go elsewhere, San Jose instead seems far likely to stick with what they have and go into next season with flexibility. Don’t expect the drastically different Sharks roster that some have predicted – it may only lead to a letdown of expectations this summer.

Morning Notes: Bruins, Wild, Kane

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The Boston Bruins will have several players head to unrestricted free agency this summer, and today GM Don Sweeney spoke about the chance of re-signing them. Though Anton Khudobin has already made it clear he wants to re-sign, and Rick Nash is open to the possibility, Sweeney doesn’t sound confident everyone will be back.

Haven’t definitively ruled anybody out…we would like to bring everyone back, but that’s not realistic in cap environment.

The Bruins currently project to have between $12-15MM in space next season depending on where the cap ceiling lands, but have to make sure they don’t get into any undesirable long-term commitments. With five forwards taking up over $32MM combined for the next three seasons, and new contracts due before long for Charlie McAvoy, Brandon Carlo, Ryan Donato and Jake Debrusk, bringing back Nash—or even Riley Nash, who is also set to become a UFA on July 1st—may be out of the question.

  • The Minnesota Wild have not made their final decision on who will become GM, as Michael Russo of The Athletic reports they have a round of interviews scheduled for next week. Paul Fenton of the Nashville Predators and Tom Fitzgerald of the New Jersey Devils will both be involved in those interviews, while Bill Zito (Columbus), John Ferguson Jr. (Boston) and Dave Nonis (Anaheim) have all sat down with Wild owner Craig Leipold at one point or another. The Wild are not rushing a decision, and Brent Flahr is currently overseeing day-to-day operations for the club.
  • The San Jose Sharks have made it clear they intend to try and re-sign Evander Kane, and he made it clear today what his three priorities are. Kane told Sportsnet that money, lifestyle and a chance to win are the “common sense” priorities for any free agent, but wouldn’t go into how he personally ranks them. The 26-year old winger found immediate success with the Sharks, but will cost the team an extra asset to re-sign. San Jose would be forced to upgrade the pick sent to Buffalo to a first-round selection should Kane re-sign this summer.

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