NHL Free Agency Favors Short Contracts and Bonus-Incentive Agreements this Year

Max Pacioretty found himself in a peculiar and somewhat awkward situation as he faced NHL free agency this year, following two instances of tearing his right Achilles tendon within the past twelve months.

However, his timing proved to be surprisingly opportune.

Numerous players, including Pacioretty with the Washington Capitals, adopted the approach of performance bonus-based contracts, a trend that has become favored by both players and teams willing to take measured risks and defer payments into the future.

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“We were working within a tight cap space and were keen on integrating specific elements to the team,” Brian MacLellan, Capitals’ general manager, said on Sunday. “The prospect, facilitated by the CBA, of achieving a lower cap hit, with a carry over if the bonuses are reached, was attractive to us. As such, we managed to acquire him with a $2 million cap hit instead of an elevated one, which may have been beyond our means.”

This strategy was not exclusive to them. Out of the 166 NHL unrestricted free agent contracts penned on Saturday, 68 were one- or two-year agreements. Teams such as the Boston Bruins, New York Rangers, and Edmonton Oilers also offered contracts featuring bonus incentives.

The Rangers recruited seasoned winger Blake Wheeler, recently bought out in Winnipeg, with an $800,000 contract bolstered by an additional $300,000 in bonuses. Moreover, they secured two-time Stanley Cup victor Jonathan Quick, fresh from backing up for Vegas during its championship pursuit, with an $825,000 contract plus $100,000 in bonuses.

This strategy was a deliberate move by Rangers GM Chris Drury, who anticipated the loss of wingers Patrick Kane and Vladimir Tarasenko due to the team’s cap situation.

Drury stated, “You prepare your list, organize the players, and conduct your research. I believe everyone in the industry, including agents and players, understands our limited cap space.”

This reality is shared across the board, including the 2020 and ’21 champion Tampa Bay Lightning and the Boston Bruins, who, despite setting NHL records for regular season wins and points, suffered a first-round playoff defeat.

BriseBois, Lightning GM, admitted, “The flat cap is a challenge for all 32 GMs; it isn’t any harder for me than for them.”

While BriseBois regretted losing winger Alex Killorn to a lucrative deal in Anaheim and Ian Cole to Vancouver, he added versatile winger Conor Sheary for three years, defensive center Luke Glendening for two, and depth forward Josh Archibald for the coming season.

Similarly, the Bruins bid farewell to Tyler Bertuzzi, Garnet Hathaway, and Dmitry Orlov but brought back 2011 Cup winner Milan Lucic on a contract heavy with bonuses, providing him with $1 million and an additional $500,000 in incentives.

Veteran GM Ken Holland, likely in his final season and intent on an immediate win, led the Edmonton Oilers in an inventive signing of winger Connor Brown, who’s recovering from a torn right knee ACL. Brown’s one-year contract sits at the league minimum of $775,000, with the potential for $3.225 million in bonuses.

Contenders must adopt this approach in a world with a stagnant cap. The prevalence of short-term contracts may result in a season full of driven players in contract years, potentially paving the way for a significant free agent frenzy next summer.

“We’re navigating an evolving situation, particularly with a flat cap for three years, and the potential to recoup some funds next year and beyond,” Cole observed. “We’re venturing into uncharted territories, and the upcoming landscape promises to be intriguing.”

Sunday saw several significant moves:

— Evan Rodrigues leveraged his 30-point season with then-champion Colorado to sign a $12 million, four-year contract with current Eastern Conference champions Florida.

— The Avalanche re-signed defenseman Jack Johnson with a one-year contract worth $775,000.

— The Detroit Red Wings enlisted promising 26-year-old forward Christian Fischer for next season with a $1.125 million contract. Fischer had not been extended a qualifying offer by Arizona.

Contributor: Denis Gorman, freelance reporter for AP.

AP NHL: https://bigbignews.net/nhl and https://twitter.com/AP_Sports

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• NHL Official Website
• NHL Free Agency Explained
• Salary Cap in NHL
• NHL Player Contracts and Salaries
• Overview of NHL Teams