Welcome to this
year’s free agent frenzy, which begins on July 1 at 12:00 PM eastern. And, of course, Happy Canada Day to our
neighbo(u)rs in the north.
The NHL free agency
crop is a bit lacking this year, but with the cap increasing to $70.2 million,
plenty of money will change hands and it will still be sure to be a
frenzy. This is the first free agency
period in a few years where the trade market is more actually more interesting
than the free agent market. Forwards
Rick Nash and Bobby Ryan are up for possible movement, as well as goaltender
Roberto Luongo, who would have to share time with Cory Schneider if he stays in
Vancouver. There is top-end talent in
this free agent class with Zach Parise and Ryan Suter, but a lot of potential
free agents have opted to sign with their current clubs before July 1st.
Why?
Teams have more
money to spend and free agent contracts have always been about overpaying and
giving a long-term deal to players who are anything but a lock to produce and
earn that huge contract. General
managers should opt for players who are known commodities in their
organization, already having played with the guys on their roster and already
having been coached by their staff.
Players usually wait for July 1st
to see their paychecks potentially skyrocket, undoubtedly at the urging of
their agents.
This year, however,
players are uncertain about the looming expiration of the Collective Bargaining
Agreement in September and a potential delay in the start of the 2012-13
season. The result of a new CBA may be a
reduced salary cap than what the league is working with today, so players are
probably returning to the same security of a known situation with their
existing teams.
What is this, risk
management for a time of the year where risk is cast aside? Welcome to uncertain waters of today’s NHL
and the labor issues that are right around the corner.
The trade market
could pick up today because of the need to clear out cap space, which is the
name of the game. But, according to
CapGeek, 19 teams are under the $54.2 million salary cap floor. In other words, very little cap space has to
be cleared. Among those 19 teams,
historically free-spending teams such as the Rangers, Canadiens, and Red Wings,
are under the floor. They will not have
a problem throwing money at holes on their rosters.
Yet another wrinkle
in this free agency season is the potential for some of the most sought-after
free agents waiting a while before signing because of money issues with their
previous clubs. Shane Doan is waiting to
find out about the Phoenix ownership situation, according to TSN’s Darren
Dreger, which may become clearer on July 9th. Zach Parise could very possibly wait a bit
before deciding to sign somewhere new, as the Devils ownership situation needs
a cash infusion and, according to the New York Post, the NHL is waiting a few
weeks before stepping in. But, this may
take the better part of six weeks to determine the state of the franchise and
Parise, and fellow free agent Martin Brodeur, will definitely sign before then.
At the down of the
frenzy, Boston has the smallest amount of cap space ($278K) and their roster is
all but set with 23 players under contract.
The Flyers have the fifth-most space in the league at about $10.5 million
with 20 players signed, while the three New York-area teams are currently under
the cap floor. The Rangers are closest
to the floor with about $50.5 million tied up in 16 players ($19.7 cap space),
with the Devils ranking 11th in cap
space available (about $25.3 million) and the Islanders figuring in 10th (about $25.5 million).*
The Islanders have
improved their 2012-13 on-ice product with a draft day trade for defenseman
Lubomir Visnovsky. The Devils have the
most to lose in free agency with Parise and Brodeur likely to leave, and they
have signed some ancillary players such as their entire fourth line (Ryan
Carter, Steve Bernier, Stephen Gionta).
The Rangers secured their backup goaltender in coming to an agreement
with Martin Biron for $1.3 million per year for two years. Boston arrived at an important agreement with
restricted free agent, Tuukka Rask, on a one-year, $3.5 million deal, made much
more important because of Tim Thomas taking a one-year sabbatical. Philadelphia went the trade route in
improving their defense by dealing James van Riemsdyk to Toronto for Luke
Schenn. Philadelphia may lose Matt
Carle, who will command a big contract especially in this market.
* - All figured
courtesy of CapGeek.com
