Canadiens re-sign Alex Galchenyuk, Canucks close to re-signing Brandon Sutter, Mike Hoffman awaits arbiter’s decision and more 

Canadiens re-sign Alex Galchenyuk.

Canadiens re-sign Alex Galchenyuk.

MONTREAL GAZETTE: The Canadiens last night re-signed winger Alex Galchenyuk to a two-year, $5.6 million contract.

SPECTOR’S NOTE: Galchenyuk’s new deal is worth $2.8 million per season, and is a fair deal for a developing young forward coming out of an entry-level contract. While he tallied 20 goals and 46 points last season, the 22-year-old faded down the stretch and in the playoffs. With more consistency, he should blossom into an offensive star. Galchenyuk was the Habs’ sole remaining free agent, and his re-signing gives them around $3.5 million in cap space to put toward next season. 

NBC SPORTS: Cites a Twitter report from Sportsnet’s Elliotte Friedman claiming the Vancouver Canucks are close to re-signing center Brandon Sutter, who was acquired earlier this week in a trade with Pittsburgh. The deal is expected to be five years in length and could cost around $4.4 million per season.

SPECTOR’S NOTE: That would be a sensible cap-friendly deal for the Canucks, as Sutter’s current contract (which expires at the end of 2015-16) pays him $3.3 million per season. That could also proved to be a bargain if Sutter shines as a second-line center in Vancouver. Given his two-way skills, even if he remains in a third-line role it will still be a worthwhile deal in the long run. 

OTTAWA SUN: Mike Hoffman completed his arbitration hearing yesterday (July 30). According to the Senators, the earliest we’ll learn the arbiter’s decision is early Sunday. It’s possible the two sides could reach a settlement before then.

EDMONTON JOURNAL: Is there room on the Edmonton Oilers for both young forward Leon Draisaitl and defenseman Griffin Reinhart next season?