- The Vancouver Canucks made headlines when they signed center J.T. Miller to a long-term extension, and the deal left many wondering if Elias Pettersson’s future was on the wing, since it was presumed that the Canucks would opt to keep Miller and Bo Horvat as centers. While that was a reasonable thing to wonder, it seems that the Canucks are planning to play Pettersson as a center for next season. Per Sportsnet’s Iain MacIntyre, Canucks coach Bruce Boudreau plans on deploying Miller, Horvat, and Pettersson as centers, believing that he is able to do so thanks to the team’s “upgraded top-nine.” Pettersson’s last two seasons have been rockier than he’d likely have hoped, so the Canucks are seemingly hoping that allowing Pettersson to center and drive his own line will help stabilize his game.
Canucks Rumors
Coyotes, Blue Jackets Sign Players To PTOs
7:52 PM: The Coyotes have confirmed Chiasson’s invitation while also noting that goaltender Christopher Gibson has also inked a PTO. The 29-year-old spent last season with AHL Charlotte, posting a 2.80 GAA and a .907 SV% in 14 games. Gibson has 16 career NHL appearances between the Islanders and Lightning.
5:33 PM: Per CapFriendly, the Arizona Coyotes have signed forward Alex Chiasson to a PTO, while the Columbus Blue Jackets have signed forward Victor Rask and defenseman Ben Harpur to PTOs.
Chiasson, now 31, has a legit shot at not only getting a contract, but playing a top-nine role if things go well. With far more offensive upside than players currently slated to play top-nine roles in Arizona like Nick Ritchie and Christian Fischer, he could get a decent amount of playing time on the power play as well and provide solid value on a cheap contract for Arizona. Playing just 11:37 per game last season with the Vancouver Canucks, Chiasson scored 13 goals in 67 games, six of which came on the power play. He’s not exactly an impact player at both ends of the ice, but he’s been a solid depth scoring option now for multiple seasons. With Arizona simply needing more NHL players in their lineup, signing Chiasson should be a no-brainer.
The opposite is true for the Blue Jackets, who have a bit of a logjam at the bottom of both their forward and defense depth charts. Harpur would be a solid addition to the top-four in AHL Cleveland if he does get a deal, but Rask will have much more competition for a roster spot amongst Columbus’ young forwards. With players like Kirill Marchenko, Yegor Chinakhov, Kent Johnson, and others poised to be full-time NHLers next season, Rask will really need to have a strong camp in order to earn a deal (if he wants an NHL role, that is).
Latest On Bo Horvat
If there was any concern that Bo Horvat was the one holding up any extension talks with the Vancouver Canucks, he put it to rest today. Horvat explained to the media including Thomas Drance of The Athletic that he wants to be a part of the Canucks long-term, and that he is leaving the negotiation up to his agents without putting a deadline on the talks.
Horvat, 27, is signed through the end of 2022-23 at a $5.5MM cap hit, the final season in a six-year, $33MM contract he inked in 2017. The two-way center was named the 14th captain in franchise history in 2019 at the age of 24, following Henrik Sedin’s tenure with the “C.”
It seemed earlier this summer like an extension was inevitable but after the team handed seven years and $56MM to J.T. Miller, some have wondered whether the Canucks would be able to fit Horvat in on a long-term deal.
The good thing in this scenario is that there doesn’t appear to be any rush from either side. Sometimes, players put a deadline of the beginning of the season on negotiations, not wanting to have any conversations while they are playing. That’s what happened with the Calgary Flames and Johnny Gaudreau, for instance, leaving a short window after the year ended to try and get something done before the star forward reached free agency.
If Horvat hasn’t put a timeline on things, there will be more space to breathe for the Canucks and time to move in a different direction if necessary. Still, if an extension isn’t worked out in the next few weeks, plenty of questions will follow Horvat throughout the year.
Vancouver Canucks Sign Danny DeKeyser To PTO
The Vancouver Canucks are bringing in some extra defensive depth, signing free agent Danny DeKeyser to a professional tryout. The veteran will attend training camp with the Canucks and try to earn an NHL contract.
DeKeyser, 32, has spent his entire career to this point with the Detroit Red Wings, playing in 547 games over parts of ten seasons. Undrafted, he was a hometown kid that made good, playing for Western Michigan before going almost directly to the NHL as a steady two-way presence.
With a career-high in points set way back in 2014-15, there isn’t a lot of offense left in the veteran. DeKeyser registered just 11 assists last season and failed to score a single goal. But for experience and defensive ability – especially on a PTO – you could certainly do worse.
The Canucks, who are currently over the salary cap ceiling, may even have a deal done with DeKeyser, whose agent told ESPN just a week ago that he was confident his client would get a contract before training camp. As we’ve seen in the past, sometimes teams that have little cap flexibility bring a veteran in on a PTO only to sign them just as the season begins, once some other mechanisms (like in-season LTIR) can be used.
If DeKeyser does land a spot with the Canucks, he would be joining a defense corps that has both aging veterans and young talents. Quinn Hughes leads the way and Travis Dermott was brought in as a younger option, but Oliver Ekman-Larsson, Tyler Myers, and Luke Schenn are all on the wrong side of 30 and likely not bringing as much to the table as they once did.
Adding another piece for a low cost (even perhaps league minimum in this case), certainly seems prudent, especially when Tucker Poolman’s status is still up in the air.
Latest On Bo Horvat’s Extension Negotiations
With J.T. Miller now signed long-term, questions in Vancouver have now turned to the future of Bo Horvat. General manager Patrik Allvin touched on negotiations with his captain at today’s media availability:
Bo is our captain. We respect and we like Bo. We’re communicating with his camp, and we’ll see if there is a deal to be made here.
There was no hint of frustration from Allvin – in fact, it seemed more as though Horvat’s talks had been pushed to the back burner while they dealt with Miller, and that they would now get into them. Elliotte Friedman and Jeff Marek discussed the situation on Sportsnet’s 32 Thoughts podcast, with the former explaining that the last he had heard was “not much going on there.” Both hosts believe that an extension will be done at some point.
Horvat, 27, has one year left on his current contract and carries a $5.5MM cap hit for the 2022-23 season, after which he will become an unrestricted free agent. The ninth overall pick in 2013 is coming off a career-best 31-goal season (in just 70 games) and has been the team’s most consistent offensive producer with five 20+ goal seasons in his eight-year career.
How the Canucks fit Horvat into the picture is another story. As we examined recently the Canucks cap situation isn’t excellent, with Tyler Myers’ $6MM hit still on the books through 2023-24 and Oliver Ekman-Larsson’s $7.26MM through 2026-27, but there should be enough flexibility to add in a raise for Horvat if the team decides to do that. If they do, the question will then become how can the Canucks surround that core with enough talent to really compete in the next few years, given they are likely going to face some pain at the end of these long-term deals.
Even though a late-season surge put them extremely close to a playoff spot, the team still lost 42 games (including overtime and shootout), not exactly the number a contender can point to as a reason to spend. If they do decide to keep Horvat long-term, there is plenty of risk to the way that Allvin and president Jim Rutherford are operating. Being “stuck in the middle” – meaning good enough to avoid the top few draft slots but not good enough to really challenge for the Stanley Cup – is something that teams try to avoid at all costs. The team already has six players signed through at least 2025-26, with only Hughes under the age of 26.
Salary Cap Deep Dive: Vancouver Canucks
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 2022-23 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.
Vancouver Canucks
Current Cap Hit: $85,261,667 (over the $82.5MM Upper Limit)
Entry-Level Contracts
F Nils Hoglander (one year, $891.7K)
F Andrei Kuzmenko (one year, $950K, UFA)
F Vasily Podkolzin (two years, $925K)
Potential Bonuses
Hoglander: $300K
Kuzmenko: $850K
Podkolzin: $850K
Total: $2MM
Kuzmenko had several suitors in the spring following a strong season in the KHL that saw him put up 53 points in 45 games. If he’s able to lock down a spot in the top nine, the Canucks will get a good return on this deal and he’ll have a chance to hit some of his ‘A’ bonuses. Notably, Kuzmenko will be an unrestricted free agent next summer again and obviously, his showing this coming season will dictate the level of interest he gets next time around.
Podkolzin’s first NHL season was a solid one as he was a capable secondary scorer with 26 points in 79 games while mostly playing only at even strength. He should have a similar role in 2022-23 which wouldn’t have him on the trajectory for a pricey second deal; a bridge contract would be the likelier route for him. A similar role will make it tough to reach his ‘A’ bonuses as well. Hoglander took a step back in his sophomore year and dropped down the depth chart. With the extra depth that they’ve brought in, his production will likely be limited, pointing him in the direction of a bridge deal as well that might check in around double his current price tag. He probably won’t hit his ‘A’ bonus but the $87.5K in games played is achievable.
Signed Through 2022-23, Non-Entry-Level
D Kyle Burroughs ($750K, UFA)
D Travis Dermott ($1.5MM, RFA)
F Justin Dowling ($750K, UFA)
F Micheal Ferland ($3.5MM, UFA)
F Bo Horvat ($5.5MM, UFA)
D Brady Keeper ($762.5K, UFA)
D Luke Schenn ($850K, UFA)
Horvat has been a reliable two-way pivot for most of his career and has been playing on a below-market contract for the last few years. That’s likely to change next summer when he’ll be one of the top centers on the open market. Adding a couple million to his current price tag is doable. Ferland missed all of the last two seasons with concussion issues and won’t play this year either. He’ll be on LTIR which will help get Vancouver back into cap compliance. Dowling split last season between the NHL and AHL and is the type of depth player that could stick around for another couple of years at the minimum.
Dermott has had a quiet couple of seasons now and this feels like a make-or-break situation for him. If he can establish himself as a capable secondary producer from the back end and stabilize the third pairing, he could land a small raise next summer beyond his $1.75MM qualifying offer. If not, he’s a non-tender candidate. Schenn showed himself to be capable of being a regular on the back end last season after being more of a reserve player and that could generate a stronger market next summer and push him past the $1MM mark. Keeper and Burroughs will be battling for a spot at the end of the roster but both are players that will be unlikely to land much beyond the minimum on their next contracts.
Signed Through 2023-24
F Jason Dickinson ($2.65MM, UFA)
G Spencer Martin ($762.5K, UFA)
D Tyler Myers ($6MM, UFA)
F Tanner Pearson ($3.25MM, UFA)
F Elias Pettersson ($7.35MM, UFA)
D Jack Rathbone ($825K, RFA)
Pettersson opted for a bridge contract last summer which helped Vancouver to stay cap-compliant and give them a little more flexibility in the short term. However, the contract is significantly backloaded and carries a qualifying offer of $8.82MM next summer (the lower of 120% of the AAV or the final year’s salary of $10.25MM). At this point, the 23-year-old is well on his way to being worth that qualifying amount but the Canucks will likely need to come in above that to get him to commit to a long-term agreement. Otherwise, he could simply opt to take the minimum offer and test the open market in 2025. Horvat’s deal is the priority right now but Pettersson’s situation looms large from a planning perspective.
Pearson improved upon his performance from the year before but it was still a notch below how he did in his first full season with the Canucks. On its own, the contract isn’t an overpayment but the market has been tight for middle-six wingers lately so there’s no guarantee he’ll be able to get that two years from now. Dickinson’s first season with Vancouver was a disaster. Brought in to be the third-line center, he instead struggled mightily, putting up the worst full-season numbers of his career. At this point, he’s a candidate to be waived in training camp (which would still leave a lingering $1.525MM cap charge).
Myers hasn’t lived up to his contract from a value standpoint but he has logged some heavy minutes in a top-three role since joining the Canucks three years ago. His offensive game has tailed off which won’t help his market two years from now but he should still be able to land a multi-year deal in the $4MM range in 2024. Rathbone is another player that will be in the mix for a roster spot with Vancouver in training camp and notably received a one-way deal for both years despite having limited NHL experience. He has the offensive ability to put up some numbers that could quickly escalate his salary two years from now if he’s able to lock down a regular role in the lineup.
Martin has very limited NHL experience with just nine appearances under his belt, six of which came last season where he did well enough to earn the backup nod. If the 27-year-old can establish himself as a capable full-time backup based on performance and not his contract, there will be an opportunity to add a couple of million or more on his next deal.
Signed Through 2024-25
F Brock Boeser ($6.65MM, UFA)
F Curtis Lazar ($1MM, UFA)
D Tucker Poolman ($2.5MM, UFA)
Boeser’s case was one that had some pressure on it earlier this summer when the qualifying offer deadline was getting close. In the end, he took less than that number ($7.5MM) in exchange for a three-year commitment. Boeser produced closer to the level of a second-liner last season and if that continues, this could wind up being an above-market contract. Lazar comes over after spending last season with Boston on their fourth line and he’ll likely have the same role with Vancouver. There really isn’t much risk with this deal; $1MM for a capable fourth liner is a fair price.
Poolman is someone whose availability is certainly in question as he continues to try to work his way back from a concussion. When healthy, he is an option for the third pairing but if he’s unable to start the season, he could go on LTIR and simplify Vancouver’s short-term salary cap situation.
Lots Of Pressure On Bruce Boudreau This Season
- Last season, Bruce Boudreau was the toast of the town in Vancouver as the new bench boss nearly led the Canucks to an improbable playoff appearance. Despite that, Adam Proteau of The Hockey News posits that the head coach is squarely on the hot seat for 2022-23. The team is clearly in win-now mode and has returned its core from last season with a couple of additions and he wasn’t picked by current management as he was installed behind the bench before Patrik Allvin took over as GM. Allvin declined to offer a contract extension after the season so Boudreau instead will coach on the final year of his deal. Those factors will certainly put pressure on him early and often.
Miller's No-Move Protection Only Starts July 1st
As part of his seven-year, $56MM contract that was signed yesterday, Canucks forward J.T. Miller received a full no-move clause. That in itself isn’t noteworthy but he was eligible to have it apply to the upcoming season as part of the contract as well since he’s of UFA age. However, CapFriendly reports (Twitter link) that this was not the case. As a result, Miller does not have any sort of trade protection between now and July 1st when the NMC kicks in so if things don’t do well next season or Vancouver decides to shake things up, Miller will be trade-eligible even with his new deal in place.
Brady Keeper Has Fully Recovered From Leg Injury From Last Season
- Canucks defenseman Brady Keeper has fully recovered from the broken leg he sustained back in training camp, notes Patrick Johnston of the Vancouver Province. The 26-year-old signed with Vancouver as an unrestricted free agent last summer and had a chance to push for a spot on the roster but instead, he wound up missing the entire year. Depending on Tucker Poolman’s availability, Keeper could have a chance to push for the sixth or seventh spot on the back end in training camp.
Extension Candidate: Bo Horvat
One down, one to go. That’s the situation that the Canucks find themselves in when it comes to their impact 2023 unrestricted free agents. J.T. Miller is now off the board after signing a seven-year, $56MM extension on Friday which allows them to now turn their focus to re-signing captain Bo Horvat.
It’s telling that while Miller had been in all sorts of trade speculation in the days, weeks, and even months leading up to his eventual extension, it has been the exact opposite for Horvat. There has long been an expectation that the two sides would work something out and discussions are ongoing according to Sportsnet’s Iain MacIntyre. But what might a new deal look like?
2021-22
Horvat quietly is coming off a career year in the goal department, surpassing the 30-goal mark for the first time in his career. It didn’t affect his defensive game too much as he still took a regular turn on the penalty kill, logged nearly 20 minutes per night, and won the sixth-most faceoffs in the league. Notably, over the final six weeks of the season when Vancouver was in the midst of trying to pull off quite the second-half comeback to get into the playoffs, Horvat was better than a point-per-game player, showing an ability to step up in crucial moments. While they ultimately fell a little short of achieving that goal, it certainly wasn’t his fault while the improved production under Bruce Boudreau creates some optimism for what’s to come.
Statistics
2021-22: 70 GP, 31 goals, 21 assists, 52 points, +3 rating, 40 PIMS, 194 shots, 57.0% faceoffs, 19:31 ATOI
Career: 572 GP, 170 goals, 196 assists, 366 points, -68 rating, 188 PIMS, 1,294 shots, 53.6% faceoffs, 18:20 ATOI
The Market
Center has always been the premium position among the three forward spots with the extra responsibilities that are always placed on a middleman. Horvat has more than handled those challenges well and certainly isn’t the type of player that a team could think about moving to the wing. Plain and simple, he’s a center and top centers get paid big bucks in free agency or, at least, when they become eligible for free agency.
Last season was basically a continuation of what Horvat has been in his career. He doesn’t necessarily produce like a number one center does but with all of the other elements he brings to the table, he gets to the level of a low-end number one or a high-end number two. There is enough of an established marketplace for players like that to get a reasonable idea of what Horvat’s next deal is going to cost.
Comparable Contracts
Sean Couturier (Philadelphia) signed an eight-year, $62MM extension ($7.75MM AAV) a little over a year ago in the same spot that Horvat is now, a year away from UFA eligibility. From a points-per-game perspective, they’re nearly identical (.638 for Couturier, .639 for Horvat) while both players have averaged close to 20 minutes per game in recent seasons while playing in all situations. Couturier’s top offensive years have been better than Horvat’s which is worth noting although Horvat will be beginning his next deal at 28, one year younger than Couturier.
Brayden Schenn (St. Louis) is playing on an eight-year, $52MM deal ($6.5MM AAV) that was signed back in 2019. His five-on-five production has been quite close to Horvat over the past few seasons but it’s worth noting that he doesn’t have the same defensive responsibilities that Horvat does. The current-day equivalent of this contract is $6.584MM and with the extra roles that Horvat has, it’s safe to pencil this contract in as the floor when it comes to extension discussions.
Kevin Hayes (Philadelphia) received a bigger contract than many expected back in 2019 when he signed for seven years and $50MM ($7.142MM AAV). He was coming off a career-best 55 points that summer and also was an all-situations player that often was on the second line offensively like Horvat. Since then, his production has tapered off so Horvat’s camp would likely be looking to come in higher than this rate. From a cap percentage perspective, a deal equal to this is worth just over $7.4MM per season today.
Tomas Hertl (San Jose) signed his extension last season, one that was worth $65.1MM over eight years ($8.1375MM AAV). He’s the same age Horvat is now and only has one more 30-goal season that Horvat does. The two were used very similarly last season and Hertl’s career point per game average (.661) is quite close to Horvat’s. Some feel that this was an overpayment on the part of the Sharks but that doesn’t matter for Horvat’s camp who will undoubtedly be using this deal as a comparable in negotiations. This is the high end of the scale for where his next contract should fall.
Dylan Larkin (Detroit) is also one to watch for but we don’t know his next contract yet as he’s in the same situation as Horvat. The two are fairly similar – Larkin is a bit more productive, Horvat more involved defensively – and whichever one doesn’t sign first will quite likely be looking at the contract of the one that does sign as a viable comparable.
Projected Contract
Based on the above comparables, something above the current equivalent of Hayes’ deal and a little below Couturier’s appears to be a reasonable sweet spot for an agreement. That would put the AAV in the $7.5MM (or slightly higher) range and he should be able to command a max-term agreement, either an eight-year one with Vancouver or a seven-year one elsewhere.
The big question that Canucks GM Patrik Allvin will have to ponder is whether they can afford Horvat’s next deal in their cap structure. Miller checks in at $8MM on his new deal which pushes their commitment in 2023-24 to nearly $69MM to 14 players. The Upper Limit is only expected to go up to $83.5MM for 2024-24 so Horvat would be taking up close to 60% of their remaining space. Fitting everyone else in would be a challenge.
Vancouver also has to keep in mind that Elias Pettersson’s qualifying offer two years from now is $8.82MM (120% of his $7.35MM cap hit). While Pettersson has spent a lot of time on the wing, he’s also a natural center and spending over $24MM on three centers could be a luxury that they can’t afford. That shouldn’t affect Horvat’s specific situation unless he’s willing to leave money on the table to stay but they’ll be factoring in their own cap situation in discussions with their captain over the coming weeks and months.
Photo courtesy of USA Today Sports Images.