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Salary Cap

Snapshots: Salary Cap, Senators, Hall Of Fame

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There will be a meeting of the Board of Governors next week at which time there will be another update about the projected salary cap for next season.  The most recent estimates were that if the escrow debt was repaid, the Upper Limit could jump to $86MM, an increase of $3.5MM from where it is now.  Meanwhile, if the debt wasn’t repaid, the increase would once again be limited to $1MM.

However, there could be a third option.  As Pierre LeBrun and Darren Dreger detailed in TSN’s latest Insider Trading segment, the NHLPA is polling its membership about their possible interest in smoothing out the cap increases over the next couple of years without affecting escrow.  That would likely result in a greater jump than $1MM next season which would allow for a bit more flexibility with so many teams capped out.  On the flip side, the anticipated jump once the escrow debt is paid off wouldn’t be as dramatic.  At this point, this is strictly a hypothetical scenario and it has not been discussed with the league just yet.

Elsewhere around the hockey world:

  • While it’s still unknown who the next owner of the Senators will be, expect actor Ryan Reynolds to be a part of the ownership group. Postmedia’s Bruce Garrioch reports that the league is making it clear to all prospective owners that they want Reynolds to be a minority partner in the purchase for whoever winds up buying the team.  Reynolds was initially planning to align with one bid but has been instructed by the league to hold off on doing so.
  • The IIHF has announced its 2023 Hall of Fame honorees, a list that includes three former NHL players in winger Henrik Zetterberg, defenseman Brian Leetch, and goaltender Cristobal Huet. Zetterberg, the long-time Red Wing, is the 21st member of the IIHF ‘Triple Gold’ club while Leetch suited up in 76 games internationally, including three appearances at the Olympics.  As for Huet, he played in 13 World Championships for France along with two Olympics.  Jimmy Foster and Caroline Ouellette were the others that will be entering the Hall in the player category.

Alex Iafallo Moved To LTIR, Austin Wagner Shuttled

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October 24: The Kings have now loaned Wagner back to the Reign, according to the team. The Kings did not have a game yesterday, and Wagner’s recall was likely just a paper transaction to optimize LTIR relief.

October 23: The Los Angeles Kings announced a series of roster moves this afternoon, headlined by forward Alex Iafallo, who has been moved from regular IR to LTIR. In addition to Iafallo, the Kings have loaned defenseman Jacob Moverare to the Ontario Reign of the AHL and recalled forward Austin Wagner. The move gives Los Angeles 14 forwards to go along with seven defensemen on its active roster.

Iafallo had already been out and on IR since October 18th with a lower-body injury which he suffered in a game on October 17th against the Detroit Red Wings, but placing him on LTIR will create additional cap space that allows the Kings to call up Wagner, who carries a $1.133MM cap hit while sending down Moverare and his $762.5K cap hit. Prior to the transaction, Los Angeles had $521K in cap space. Of note, due to Iafallo’s $4MM cap hit, his trip to LTIR will give the organization more than enough room to work with on the salary cap front while he’s out. Despite the injury, Iafallo has had a tremendous start to the season, contributing two goals and three assists in four games.

Sending Moverare down simply gives the Kings more flexibility when setting a lineup by subtracting their eighth defenseman for another forward, flexibility they’ll continue to need in Iafallo’s absence. The defenseman had yet to play a game this season in the NHL, but does have a pair of AHL contests under his belt in 2022-23, prior to his call-up on October 18th. Wagner on the other hand, is receiving his first call-up of the season after starting the year with Ontario. There, he has two points in three games to start.

Salary Cap Could Increase More Than Expected In 2023

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Speaking with the media today, NHL commissioner Gary Bettman said there’s a “good probability” that the remaining COVID-related escrow balance could be paid by the players this season, and remains optimistic about revenues. If the escrow balance gets paid off, the salary cap could jump more than the predicted $1MM incremental increase, two years sooner than originally expected coming out of the pandemic.

Bettman did note that it would be a close call, but if the revenue numbers hit, the cap could jump roughly $4MM to a figure of around $86.5MM for the 2023-24 season. The league’s cap growth would then mirror pre-pandemic trends, if not more.

This is gigantic news for a number of teams, especially those who have big-name free agents due for contracts by July 1 of next year. It also bodes well for teams tight to the salary cap to be able to have more roster flexibility in the offseason.

That list of big-name unrestricted free agents next summer is no joke, and a ~$4MM salary cap increase would have a massive effect on many negotiations. Ryan O’Reilly in St. Louis, David Pastrnak in Boston, Dylan Larkin in Detroit, Bo Horvat in Vancouver, and Frederik Andersen in Carolina are some notables who could re-sign with their current teams for a big payday.

It also makes life easier for teams like the Vegas Golden Knights, who are poised to get a healthy Robin Lehner back but already remain well over the currently projected $83.5MM salary cap for 2023-24.

Injury Updates: Montour, Timmins, DeBrusk, Edler

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Just ahead of their game this evening, the Florida Panthers announced that defenseman Brandon Montour would not play. Per the team announcement, Montour is suffering from an upper-body injury. It’s unclear exactly how Montour suffered the injury; the defenseman has played in each of the team’s first two games this season, playing 24:56 opening night and 21:44 in Saturday’s game against the Buffalo Sabres.

An interesting wrinkle in this is, because the Panthers have had to carry a light roster due to their position against the salary cap, they will not be replacing Montour in the lineup. Instead, the team will run with 17 skaters – twelve forwards and five on defense. Considering teams only need 18 skaters and a pair of goaltenders to field a full team, it would seem practical for a team in such a cap situation to only carry 18 players on the roster, however a situation like the one Florida faces this evening is a prime example of why that strategy could cause issues down the line.

  • Arizona Coyotes defenseman Conor Timmins will miss tonight’s game against the Toronto Maple Leafs with an upper-body injury, says the team. Fortunately for Timmins, who missed significant time last season due to injury, it appears he is only day-to-day.
  • Jake DeBrusk will make his return to the Boston Bruins lineup this evening after missing Boston’s last game. The winger was injured in the team’s opening night game against the Washington Capitals after playing just 11:06. Given Boston’s slate of injury issues, especially to winger Brad Marchand, getting the offensive-minded forward back in the lineup will be key to staying in contention while the team’s stars recover. DeBrusk will be taking the place of forward Jakub Lauko in the lineup. The Athletic’s Fluto Shinzawa was the first to report DeBrusk had re-entered the lineup.
  • Per the Los Angeles Kings, defenseman Alex Edler will not play in tonight’s game against the Detroit Red Wings. Edler was originally expected to be in the lineup, but took a puck to the face during warmups. The veteran defenseman will be replaced by Sean Walker. No update is available yet on how severe the injury is.

Carolina Hurricanes Recall Jordan Martinook

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After clearing waivers a few days ago, beloved forward Jordan Martinook is back up on an NHL roster with the Carolina Hurricanes. Evidently, the team has made the salary cap moves necessary to accommodate him on the active roster.

In a corresponding move, the team assigned forward Jamieson Rees and goalie Pyotr Kochetkov to the AHL’s Chicago Wolves.

Waiving Martinook and temporarily assigning him to the AHL allowed Carolina to optimize their cap space as much as possible prior to placing defenseman Jake Gardiner on long-term injured reserve to start the season. With Gardiner and his $4.05MM cap hit now on LTIR, the team now had the flexibility to recall Martinook.

He’ll likely reprise his role as the team’s fourth-line left wing, with AHL superstar Stefan Noesen serving as the team’s 13th forward for the time being. He’ll likely flank Derek Stepan and Ondrej Kase, making for a dynamic fourth line.

Vancouver Canucks Place Three On Injured Reserve

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There are many teams playing salary cap gymnastics today, though the award may have to go to Vancouver Canucks general manager Patrik Allvin. The Vancouver Canucks announced a series of roster moves today, most notably placing forward Ilya Mikheyev, as well as defensemen Tyler Myers and Travis Dermott, on injured reserve.

The team also loaned forward Linus Karlsson to AHL Abbotsford while recalling forward Danila Klimovich, a move expected to be reversed once their cap situation is settled. In doing so today, the team completed maximized their LTIR pool relief from Micheal Ferland’s contract, creating exactly zero dollars in cap space, allowing them to reap the full rewards of his $3.5MM cap hit. Ferland is unexpected to play again due to post-concussion syndrome.

In terms of the actual injuries, the three players can be activated from injured reserve at any time as their placement is retroactive to when their injuries were suffered during camp. Mikheyev remains week-to-week with a lower-body injury, while Myers is expected to miss about two and a half more weeks with a lower-body injury (he was given a three-week timeline last week). Dermott is day-to-day after suffering a concussion approximately two weeks ago.

Vancouver joined Toronto, Vegas, Tampa Bay, Edmonton, and Carolina as teams who had maxed their LTIR relief pools to within $100,000.

Waivers: 10/07/22

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It’s an important day for waivers as the regular season approaches, and several potential targets are available. With the preseason wrapping up, teams will try to sneak players through at the last second and keep them in the organization for the time being.

Many of these placements are due to salary cap restrictions or LTIR machinations to give teams maximum flexibility as the season begins. Everyone from yesterday’s list cleared.

Here is today’s group of waiver additions:

Carolina Hurricanes

Jordan Martinook

Dallas Stars

Anton Khudobin

Edmonton Oilers

Mattias Janmark
Dmitri Samorukov

Minnesota Wild

Steven Fogarty

New Jersey Devils

Andreas Johnsson
Brian Pinho

Philadelphia Flyers

Kevin Connauton
Troy Grosenick

St. Louis Blues

Martin Frk
Klim Kostin
Matthew Highmore

Vancouver Canucks

Justin Dowling

Winnipeg Jets

Johnathan Kovacevic

Snapshots: Ferland, Coyotes Injuries, Maple Leafs, Brassard

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There’s really no way around it: expectations are high for the Vancouver Canucks this season. After a slow start to the 2021-22 season, the team fired head coach Travis Green and replaced him with Bruce Boudreau and proceeded to go on a sensational run that took them from the NHL’s basement to the fringes of a playoff spot. This offseason, the organization made moves to build upon the core they had and solidify it in the long-term, adding forwards Andrei Kuzmenko and Ilya Mikheyev, then extending J.T. Miller. After all is said and done, the team finds itself $2.75MM over the salary cap ceiling. However, that is without factoring in injured forward Michael Ferland, who holds a $3.5MM cap hit for this season. While the team could utilize LTIR for Ferland and be alright, Frank Seravalli of The Daily Faceoff says Vancouver prefers not to go that route.

Instead, Seravalli says, the Canucks are actively looking to move Ferland’s contract. The reason for doing so is two-fold: one, Vancouver would prefer not to operate in LTIR, and two, because Ferland is injured, the insurance on the contract will not kick-in and whatever team has Ferland will have to pay the entirety of the $2.75MM in salary remaining on his deal. Though there are some teams that would actually benefit from taking on Ferland’s contract for salary cap purposes, similar to the Vegas Golden Knights acquiring Shea Weber this summer, Seravalli says the $2.75MM of real money owed is likely acting as a barrier to getting a deal done and would force the Canucks to give something up to move Ferland. The 30-year-old wing signed a four-year, $14MM deal with the Canucks during the 2019 offseason, but has managed to play just 14 games in that span, all coming in the first half of the 2019-20 season.

  • The Arizona Coyotes received some relatively good news today on the injury front, as forwards Nick Schmaltz and Ben McCartney, as well as defenseman Cam Dineen have all been listed as day-to-day with lower body injuries says PHNX Sports’ Craig Morgan. No team wants any of it’s players to be injured, however having all three be limited to just day-to-day status is a positive sign. The Coyotes play their next preseason game Tuesday in Vegas, and it’s unclear as of yet whether any of the three will be able to participate. For Schmaltz, who has a prominent roster spot secured, missing tomorrow night’s action wouldn’t be a major setback, but for Dineen and McCartney, who are both battling for roles in the organization, a missed opportunity in the preseason is far from ideal.
  • Speaking of injuries, after the Toronto Maple Leafs found out that depth defensemen Jordie Benn and Carl Dahlstrom would miss time, the former set to miss three weeks an the latter set to miss six months, the team was rumored to be in contact with several defensemen who were in NHL camps on PTO’s. Thus far, that has not come to fruition and in the past few days, several defenseman on PTO’s, including Nathan Beaulieu, Calvin de Haan, and Scott Harrington, signed with the teams they were trying out with. On today’s 32 Thoughts Podcast featuring Sportsnet’s Elliotte Friedman and Jeff Marek, Friedman cleared the air on these rumors, believing that the Maple Leafs had not been in on any of these defensemen, as the team would also like to sign forward Zach Aston-Reese, who is in camp with Toronto on a PTO.. Still, Friedman adds that the team could instead try to move one of its depth forwards out in exchange for a defenseman who is either waiver exempt or has already cleared. Right now, Toronto sits just below $2.9MM over the salary cap ceiling after re-signing defenseman Rasmus Sandin.
  • If Derick Brassard can catch on with the Ottawa Senators this season, it will mark his eighth different team since Ottawa dealt him to the Pittsburgh Penguins mid-way through the 2017-18 season. Once a dynamic offensive threat in the top-six group of the Columbus Blue Jackets, New York Rangers, and the Senators, Brassard has become a veteran journeyman capable of playing whatever role his team needs, anywhere in the lineup. Earlier today on TSN 1200 in Ottawa, Brassard mentioned that he would like to try to play a similar role to the one Jason Spezza played with the Maple Leafs the past few seasons, one which was to be deployed in a myriad of different situations as his team saw fit. The Hull, Quebec native added that when the offseason began, his primary focus was on joining the Ottawa Senators and hadn’t thought much about other options. Brassard has of course been playing that role for a few seasons now, but being able to do so with a team so close to home as they turn the corner from rebuilder to contender, just as Spezza did, seems like a no-brainer if he can secure the opportunity.

Looking For A Partner In An Anton Khudobin Trade

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It’s not much of a secret that the Dallas Stars would be interested in moving Anton Khudobin. That desire isn’t for a lack of liking the player or appreciating the tremendous run he went on over the COVID-shortened 2019-20 and 2020-21 seasons, as well as a trip to the Stanley Cup Final in the 2020 bubble. Instead, the team has just over $7MM left in salary cap space and still needs to re-sign breakout superstar winger Jason Robertson. The remaining $7MM could, technically, be enough to sign Robertson, but clearing some, or ideally all, of Khudobins”s $3.33M cap hit would make it not only much easier to re-sign the forward, but could allow Dallas to negotiate it’s way into a max-term deal.

The problem for Dallas is that trading Khudobin is easier said than done. For one, finding a team that is interested in a goaltender who’s dealt with injuries for much of the last year who is owed a $3.75MM salary (and $3.33MM cap hit) would be difficult. Second, even if a match is found, it’s clear this would be a cap-dump and Dallas is already in a tough position with Robertson still not in camp. If Dallas wants to make that deal, they’ll have to pay the market price to do so, but before going that far, let’s take a look at their options and who Dallas could turn to.

Bury The Contract

If the Stars are unwilling to pay the price to move Khudobin, or if they genuinely cannot find a suitor, one option would be burying Khudobin’s contract in the minors. Under the terms of the current CBA, teams can bury a player and their cap hit in the minor leagues and recoup $1.125MM against the salary cap. By doing this, Dallas would give itself $8.21MM in cap space with which to re-sign Robertson. That figure might be just enough to get a deal done with Robertson, but with little coming out of the Dallas or Robertson camps when it comes to any specific figures and considering the recent contracts given to Jack Hughes, Tim Stutzle, Joshua Norris, Robert Thomas, and Jordan Kyrou, it’s not hard to believe that $8MM AAV, whether on a long or short-term deal, is only the starting point in these negotiations.

Potential Need:

Philadelphia Flyers: When talking about teams who could take on a salary-cap trade, generally the obvious rebuilding clubs with plenty of space come to mind, and that’s no exception for Khudobin. However, some would argue the Flyers aren’t in that same position, having not committed to the rebuild and without a ton of cap space. Right now, the team is just under $2.4MM over the salary cap ceiling. But, factoring in the expected LTIR stints of forward Sean Couturier and defenseman Ryan Ellis, they will be left with a little over $11.6MM available.

In net, the Flyers will rely on young netminder Carter Hart to make a bulk of the starts and an apparent backup slotted in with Felix Sandstrom. However, with Sandstrom suffering an injury in yesterday’s game against the Boston Bruins, the organization may find itself in need of another goaltender beyond Troy Grosenick and Samuel Ersson. More impactful though, would be the ability to have Sandstrom continue his development by making the bulk of starts in the AHL and allowing Khudobin to backup Hart.

Minnesota Wild: Another peculiar team on this list, the Wild made their way into this offseason with a goaltending glut and cap issues of their own, issues which necessitated the trade of star winger Kevin Fiala and goaltender Cam Talbot. But, now, they could be a fit for a Khudobin trade. Today, the Wild have roughly $5.74MM in cap space, enough to acquire Khudobin outright. The team projects to start the legendary Marc-Andre Fleury in net, backstopped by a young Filip Gustavsson. The younger goaltender has 27 games of NHL experience under his belt, but has struggled to an extent in that time. Should the Wild want to see him continue his development in the AHL and have a veteran backstop for Fleury, taking on Khudobin might make sense. Still, the Wild had to make tough sacrifices to be cap compliant, namely Fiala, so relying on Gustavsson and looking to use their cap room to address other needs could be the more prudent option.

Cap Room To Give:

More than a few teams have the room to take on Khudobin’s contract; in fact, Robertson aside, the Stars are one of them. But, there are only a handful that not only have the room, but are in the position to do so.

Chicago Blackhawks: With $7.54MM in available cap space, the Blackhawks could afford to take on Khudobin’s contract with ease. An issue with doing so for Chicago is, given their rebuild and desire to stockpile draft picks, they will likely want to make as many cap-trades of this nature as possible. Acquiring Khudobin would bring them to just over $4.2MM in available cap space, making trades of this nature a bit more difficult, at least for this season. Moving one or both of Jonathan Toews and Patrick Kane would free up some space, but the team will likely be expected to retain significant portions of their salary.

Anaheim Ducks: Clocking in with $15.75MM in available cap space, acquiring Khudobin would be no issue for Anaheim. But, this Ducks team, unlike the Blackhawks above, is no longer in the depths of their rebuild. Making a trade of this sort is still possible, but considering where the Ducks stand, holding on to as much of their cap space as they can to see if they may wish to buy at this year’s trade deadline might make the most sense. If the team finds it’s not in that position yet, they can still utilize their cap space to aid other teams (for a price) at that time. Also at issue is the team’s goaltending situation as it stands now. Of course, John Gibson is not going anywhere, and behind him, Anthony Stolarz has proven to be an incredibly sound backup. Anaheim could bury Khudobin in the AHL, but would presumably like to give the overwhelming majority of the playing time there to promising young netminder Lukas Dostal, as well as Olle Eriksson Ek.

Buffalo Sabres: Like the Ducks, the Sabres are looking to turn a corner this year and take the next step, whether that’s a playoff spot or at least putting up a fight for one. That wouldn’t necessarily mean they aren’t interested in utilizing their league-best $20.54MM in cap space to their benefit, however it might not be top of mind. In addition to that, Buffalo has an even more crowded net than Anaheim. The team projects to rely on veterans Craig Anderson and Eric Comrie in net after waiving Malcolm Subban earlier today. Even if Subban were to be claimed, the development of Ukko-Pekka Luukkonen in the AHL is of great importance to Buffalo.

The Arizona Coyotes:

Given that the Coyotes are in a full rebuild and set to play at least the next two seasons at Arizona State’s Mullett Arena, their $19.47MM in cap space, and their well-documented desire for goaltending, a deal sending Khudobin to Arizona seems obvious. Coyotes GM Bill Armstrong has made clear this offseason he would continue to monitor the goaltending market, whether that be in free agency, the waiver wire, or via trade. Arizona has acted on it thus far, signing Jon Gillies, offering a PTO to Christopher Gibson (who has since been released), and most recently claiming Jonas Johansson off of waivers. Even after claiming Johansson, Armstrong reiterated his commitment to monitoring the goaltending market.

As of today, Arizona currently has Karel Vejmelka, Ivan Prosvetov, Johansson, and Gillies all under contract and with NHL experience. Adding Khudobin into the fold would make an already crowded situation more so, but would give the Coyotes a veteran netminder who could serve to mentor their less experienced ones. Worth noting as well, the Coyotes have been in this situation more than a couple of times and know what they can get in exchange for their cap help. Most recently, they acquired second and third round draft picks and swapped the 32nd overall pick in 2022 for the 29th overall pick to take on the contract of forward Zack Kassian from the Edmonton Oilers. What the price for Khudobin would be is unclear, but this sort of trade has paid dividends for the Coyotes before.

Snapshots: Bruins Injuries, Carcone, Caggiula, Sharks Front Office

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This afternoon saw a preseason rivalry contest with the Boston Bruins playing host to the Philadelphia Flyers. For the most part, things went the Bruins’ way, as they defeated the Flyers 4-0 with young forwards John Beecher and Marc McLaughlin each netting a pair of goals. Despite the promising performance, the team did have a couple of injury scares when both Fabian Lysell and Taylor Hall were forced to leave the game with injuries.

However, it looks like Boston avoided the worst with these injuries. In speaking to the media, including The Athletic’s Fluto Shinzawa, Bruins head coach Jim Montgomery said both players only have minor injuries. Jimmy Murphy of Boston Hockey Now adds that both will be out only one or two days. Injuries are never good news, but for a Boston team trying to compete despite a myriad of long-term injuries already on the books, missing a dynamic forward like Hall and a top prospect trying to make the team like Lysell for only a few days is certainly a relief.

  • The Arizona Coyotes announced they have recalled forward Michael Carcone from the Tucson Roadrunners of the AHL. Carcone, who is entering the second year of a two-year, two-way deal, had only just cleared waivers yesterday. The 26-year-old winger is a veteran of six AHL seasons, and just made his NHL debut last year for Arizona where he contributed four goals and two assists in 21 games. Clearing waivers may not feel like a great sign for a player, however given Arizona’s current state as well as Carcone’s track record of AHL production and his NHL contributions last season, he should still be able to find opportunities going forward.
  • For his career, when healthy, forward Drake Caggiula has proven he can be an impactful depth player for whatever team he’s been on. The key words there, though, are ’when healthy.’ Perhaps the most notable injury of Caggiula’s came last season, when the forward missed the final 64 games of the Buffalo Sabres’ season with a herniated disc in his neck. Recently, Caggiula had a chance to speak with Trib Live’s Seth Rorabaugh about his injury last season, his recovery, and his play this preseason. The forward mentioned that before his surgery in February, not only was he unable to play hockey, but his quality of life was severely impacted. However, after having surgery, relief was immediate and he was able to recover. Now, the 28 year old says he feels fully healthy. That much appears clear now, not just from Caggiula’s own words, but he has impressed in training camp as a member of the Pittsburgh Penguins, who he signed a one-year, two-way contract with this summer. In three intra-squad scrimmages, Caggiula has three goals, in addition to scoring the Penguins’ only goal of the day in today’s 3-1 loss to the Sabres.
  • The San Jose Sharks and GM Mike Grier today announced several new hockey operations hires. Dominik Zrim, Director of Salary Cap Management/CBA Compliance; A.J. Bernstein, Coordinator, Hockey Analytics; Martin Uhnak, European Scout, Czechia, Slovakia, Germany, Switzerland; Cody Ward, Assistant Video Coach; and Brian Ganz, Assistant Strength & Conditioning Coach. Already with the Sharks, but now promoted, is Stephen DiLustro, who was promoted to Director of Strength and Conditioning, who had been working under Mike Potenza in that role. Interestingly, Zrim is one of the co-founders of website CapFriendly, which tracks player transactions and salary, as well as salary cap related topics.

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