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Washington Capitals Sign Ryan Hofer

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The rush on entry-level contracts continues, with the Washington Capitals signing Ryan Hofer to a three-year deal. It will carry an average annual value of just over $850K, and likely starts next season. Today is the first day to register entry-level contracts for 2023-24.

Hofer, 20, is currently playing for the Kamloops Blazers of the WHL, this year’s host of the Memorial Cup. He was selected in the sixth round last summer after being passed over in each of his first two years of eligibility.

The late bloomer didn’t even crack major junior until 2020-21, before exploding onto the scene last year with 25 goals and 58 points in his first full season in the WHL. This year, as an overage player, he has 36 goals and 56 points in just 53 games, split between Kamloops and the Everett Silvertips.

Hofer will get a chance to play deep into the spring with a Memorial Cup appearance as the host city gets an automatic bid. Next year, he’ll be sent to the minor leagues where he can start his pro career with the Hershey Bears.

Capitals Sign Nick Jensen To A Three-Year Extension

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While the Capitals have been selling some of their pending free agents, they won’t be doing so with Nick Jensen. Instead, the team announced that they’ve signed the blueliner to a three-year contract extension that carries an AAV of $4.05MM.  PuckPedia reports (Twitter link) that the deal does not include any trade protection and breaks down as follows:

2023-24: $3MM salary, $2MM signing bonus
2024-25: $2.15MM salary, $2MM signing bonus
2025-26: $1MM salary, $2MM signing bonus

When Washington acquired the 32-year-old back in 2019, he quickly inked a four-year, $10MM extension.  However, the contract didn’t look like it would age well as Jensen had somewhat of a limited role early on with the Caps.  That changed last season when he had a career year offensively with 21 points while logging over 19 minutes a night, pushing himself into a top-four spot on their depth chart in the process.

Jensen has continued that progression this season, picking up 24 points in 62 games, good for second among Washington blueliners behind John Carlson.  On top of that, he’s averaging close to 21 minutes a night while playing heavy minutes on their penalty kill.  Those characteristics would have made him a very intriguing rental option for several contenders but instead, he has decided to stay put with an organization that has seen him go from being a depth piece to a core player while GM Brian MacLellan felt that this route was better than taking a futures-based return.

Washington entered the day with just one defender signed for next season – Carlson, who makes $8MM.  However, they now have three under contract with this deal plus the earlier acquisition of Rasmus Sandin from Toronto.  Those three, plus pending restricted free agent Martin Fehervary, appear to be the new top four for the Capitals as things stand.  It has been suggested that the Capitals don’t plan to undertake a sizable rebuild so it wouldn’t be surprising to see MacLellan continue to remodel his back end between now and the start of next season.

Photo courtesy of USA Today Sports Images.

New York Islanders Acquire Pierre Engvall

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The Toronto Maple Leafs confirmed that the team has traded forward Pierre Engvall to the New York Islanders for a third-round selection in 2024. After already trading away defenseman Rasmus Sandin to the Washington Capitals earlier this afternoon, the Maple Leafs send another player out the door. Headed for unrestricted free agency at the conclusion of this season, Engvall adds another large and imposing forward to the mix for the Islanders. Standing at 6’5″, Engvall becomes a valuable player that the Islanders will now have on their roster.

As likely the team and fan base with the most desperation for Lord Stanley’s glory, GM Kyle Dubas continues to cultivate the Maple Leafs into an even more legitimate Stanley Cup threat. After having already acquired players such as Ryan O’Reilly, Jake McCabe, and Erik Gustafsson in various moves, Dubas was able to create even more flexibility for the Maple Leafs with this move. Set to become a free agent at season’s end, Engvall was on a one-year, $2.25MM contract this year. Drafted in the seventh round by the Maple Leafs in the 2014 NHL Draft, Engvall became one of the better depth forwards for the team over the course of the last several seasons. Scoring a career-high 35 points last year, Engvall will have the ability to show off his skill with another team in the playoff hunt.

Immediately becoming one of the tallest forwards on the team, Engvall will allow the Islanders to employ an even more imposing offense. Having already supplemented their goal-scoring issues with the acquisition of Bo Horvat earlier this year, Engvall takes more of a defensive approach to the game. With a Corsi-for above 50% in the last two seasons, Engvall’s team was controlling the puck more with him on the ice. One of the more defensively sound teams in the game, the Islanders will benefit from adding another forward who fits their mold and style of play.

Elliotte Friedman of Sportsnet was the first to report that Pierre Engvall was headed to the Islanders.

Washington Capitals Acquire Rasmus Sandin

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The Toronto Maple Leafs said this week that there were ways to recoup some of their recently traded draft capital, and it didn’t take long. The Washington Capitals have acquired Rasmus Sandin from the Maple Leafs in exchange for Erik Gustafsson and Boston’s 2023 first-round pick, as confirmed by Toronto.

The move comes just after the Maple Leafs landed Jake McCabe to shore up their defensive group, ultimately pushing Sandin out of the regular lineup. The 22-year-old defenseman has been unable to keep a grip on that full-time role, even with outstanding underlying metrics through his first few NHL seasons.

In 140 career games, Sandin has ten goals and 48 points, averaging just under 17 minutes a night. It seemed as though he was turning a corner with Toronto this season, but instead will have to find his way with a new organization.

Signed to a two-year contract last summer, Sandin carries a very reasonable $1.4MM cap hit and can contribute in several ways for the Capitals. After they moved Dmitry Orlov, he should find playing time next season and could run the team’s second powerplay unit. There’s plenty of upside still left in the first-round pick, though his size and foot speed will always likely limit him to a middle-pairing ceiling in the NHL.

Still, you can see that the Capitals aren’t content with a full rebuild while their core is still in place. Flipping a first-round pick (despite how late it will be in the first round) for a young defenseman gives them a chance to quickly rebound and try to compete again in the 2023-24 season.

For Toronto, that pick might not be in their pocket for very long. The team still has to make another move to clear enough cap space to activate Matt Murray, and they now have another chip to waive in any trade discussions.

Not to be forgotten in this deal is Gustafsson, who has 38 points in 61 games this season as an all-offense defenseman. The curious thing is where he fits into the lineup right now, as like Sandin, he currently projects outside of their top group. The Maple Leafs essentially kept their defensive depth intact with this move, though with Gustafsson being a UFA, they are sacrificing it in future seasons.

Sportsnet’s Elliotte Friedman was first to break the trade.

Minnesota Wild Acquire Marcus Johansson

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Minnesota Wild general manager Bill Guerin has been clear that he thinks his group deserves an addition at the deadline, and now he’s made one. The Wild have acquired Marcus Johansson from the Washington Capitals in exchange for a 2024 third-round pick.

This is Johansson’s second stint with Minnesota, though he may still have nightmares about his first go-round. After being acquired from the Buffalo Sabres in 2020, the versatile forward would play 36 games for the Wild during the regular season before breaking his arm in a game three playoff loss to the Vegas Golden Knights.

Surgery and a seven-game elimination followed, ending his time with Minnesota prematurely. Johansson will get to rewrite history this time, joining the Wild ahead of another playoff run.

With a bit of a rebound after some disappointing seasons, Johansson has 13 goals and 28 points in 60 games for the Capitals this season. The left-shot forward can play center in a pinch, and adds another capable NHL option to the Minnesota lineup—one that currently leans heavily on one line to do most of the heavy lifting. Johansson’s goal and point totals would put him fifth on the Wild, who have gotten little production from players like Marcus Foligno and Jordan Greenway.

For Washington, expiring contracts are must-trades unless an extension is possible. The club has already thrown in the towel on this season by trading long-time defender Dmitry Orlov, and might as well sell off anything else that’s not tied down.

Getting a third-round pick for Johansson is a nice return, though it should be pointed out that they invested more than just the one-year, $1.1MM contract he is currently playing on. Last year at this time, it was Washington trading for him at the deadline, sending Daniel Sprong and two draft picks (a fourth and a sixth) to the Seattle Kraken. This is the fifth time he has been traded in his career, and the third at the deadline.

Kevin Weekes of ESPN broke news of the deal on Twitter.

West Notes: Karlsson, Chychrun, McDonough

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With Timo Meier already out the door, many have wondered if even more big changes will be coming to the San Jose Sharks before Friday’s trade deadline. More specifically, many have wondered if two-time Norris Trophy winner and leading defensive scorer Erik Karlsson could be traded. According to Karlsson himself, it doesn’t seem like that’s going to be a possibility. In speaking to The Athletic’s Corey Masisiak, Karlsson said “it would be weird” if Sharks GM Mike Grier asked him to waive his no-trade clause just a few days before the deadline, indicating that it would be a complete shock at this point if he were dealt in the next few days.

While the 32-year-old has had a vintage season (he’s on pace to score 105 points) Karlsson’s $11.5MM cap hit through the 2026-27 season has seemingly presented a significant obstacle toward finding an agreeable trade. The Edmonton Oilers have been widely rumored as having had interest in acquiring Karlsson, only for any trade talks to stall once the issue of retained salary came under the microscope. Despite his stellar play, it could be the Sharks’ reported unwillingness to retain a major chunk of Karlsson’s average annual salary (more than $1-2MM per year) that has thrown a wrench in any blockbuster mid-season deal happening.

  • With Karlsson seemingly off the market, the top defenseman on the market before Friday’s deadline is widely considered to be Arizona Coyotes blueliner Jakob Chychrun. The Fourth Period’s David Pagnotta issued an update on Chychrun’s status, tweeting that trade “talk has picked up,” although no trade is expected to be imminent. He also adds that the Washington Capitals, Los Angeles Kings, and Carolina Hurricanes are “three of the teams very much in the mix” to acquire Chychrun.
  • Northeastern University captain Aidan McDonough has had a strong senior season for the Huskies, scoring 36 points in 31 games, and is nearing a significant decision regarding his professional career. He’ll have the ability to choose his pro destination this summer and could potentially sign with a different team besides the Vancouver Canucks, the club that selected him 195th overall at the 2019 draft. Per CHEK’s Rick Dhaliwal, McDonough “is still very open to signing in VAN,” and his ultimate decision is “not far away.” It’s likely that quite a few teams would be interested in adding McDonough, so should Vancouver get him it would be a quality addition to their prospect system.

Deadline Notes: Capitals, Dumba, Foote

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The Washington Capitals are in unfamiliar territory as they became deadline sellers when they traded Dmitry Orlov and Garnet Hathaway to the Boston Bruins. It doesn’t sound like this is the beginning of a massive selloff though. According to Tarik El-Bashir of The Athletic, general manager Brian MacLellan is not interested in moving pending unrestricted free agents Nick Jensen, Conor Sheary, Trevor van Riemsdyk or Erik Gustafsson for small returns. Quite the opposite, as he is interested in bringing back all four if they are open to an extension. He also has interest in keeping winger Connor Brown who played only four games this season before tearing his ACL.

El-Bashir also notes that the Capitals may flip some of the assets they received in the Orlov/Hathaway deal and try to add before the deadline. Jakob Chychrun is of interest to them. Chychrun has been sitting out for over a week now waiting for a trade from the Arizona Coyotes and has two more years remaining on his contract with a cap hit of $4.6MM.

  • The Minnesota Wild have had an up-and-down season but appear to be firmly entering the buyer category ahead of the deadline. A recent hot streak has propelled them to within two points of Central Division leading Dallas Stars. This should put talk of Matt Dumba’s availability to rest. Joe Smith of The Athletic reports that Wild general manager Bill Guerin said Dumba would be tough to replace and he is not looking to move the right defenceman with his team playing so well.
  • One right-shot defenceman that is available is Cal Foote. Emily Kaplan of ESPN reports the Tampa Bay Lightning are open to moving the 24 year-old defender. The Lightning have already traded their first and second-round picks in 2023 and first-round pick in 2024 so they are low on assets at this deadline. Their general manager Julien BriseBois has stickhandled around sticky cap situations before and will have to do the same this season to add before Friday’s deadline.

Marcus Johansson Misses Saturday's Game Due To Illness

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  • We’re at the time of the year when players on expiring contracts being absent is worth keeping track of. However, while the Capitals were without Marcus Johansson for their game this afternoon against the Rangers, NHL.com’s Tom Gulitti relays (Twitter link) that the winger has a non-COVID illness.  Johansson is on an expiring deal that carries a $1.1MM cap hit and has 28 points in 60 games this season which could draw some interest around the league.

Capitals Looking To Rebuild On The Fly

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Anything you can do, I can do better. After a report emerged earlier today that the Pittsburgh Penguins have shown interest in Jakob Chychrun, rival Washington Capitals have also now been linked to the Arizona Coyotes defenseman. Darren Dreger of TSN reports that the Capitals are hoping to “rebuild on the fly” and, after yesterday’s trade of Dmitry Orlov and Garnet Hathaway, now have the assets to pull it off if it gets that far.

The Penguins and Capitals are in similar situations, trying to contend as many times as possible while their franchise icons are still on the ice. Neither one is guaranteed to make the playoffs this season, meaning it will be quite the task to retool quickly enough to challenge for the Stanley Cup. In the meantime, the Capitals have recalled Aliaksei Protas from the minor leagues to fill the last vacated roster spot.

West Notes: Krug, Olofsson, Eller

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St. Louis Blues defenseman Torey Krug is set to return to the lineup against the Pittsburgh Penguins on Friday, head coach Craig Berube told reporters today. It ends a brief absence stemming from a lower-body injury.

It’s been a bumpy road for Krug in 2022-23, who’s missed significant portions of the season. This is the fifth separate occasion he’s missed time with a lower-body injury, including a 13-game-long absence through December and January. Krug’s ice time has dipped below 20 minutes this season, and his -28 rating is tied for the worst on the team. He’ll return to his usual spot alongside Justin Faulk.

  • After being sent down yesterday, the Dallas Stars have brought forward Fredrik Olofsson back up from the minors. The 26-year-old has been a frequent call-up as of late, and he’s recorded a goal and three assists in 15 games with Dallas on top of 14 points in 37 games with AHL Texas. Olofsson will draw back into the lineup tomorrow against the Vegas Golden Knights as Luke Glendening and Joel Kiviranta remain sidelined with injuries.
  • The Athletic’s Pierre LeBrun covered the Washington Capitals’ trade deadline plans in his latest piece and listed pending unrestricted free agent center Lars Eller as a potential fit for the Colorado Avalanche. Eller’s offense has taken a step back this season, recording just seven goals and 16 points in 58 games, but he’d be good depth insurance for an Avalanche team that’s thin at center. As Colorado begins to string wins together ahead of the trade deadline, they hope some depth additions combined with healthy stars propel them back into the “contending” category of teams.

 

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