NHL Trade and Free-Agent Markets Could Soon Stir to Life
NHL Trade and Free-Agent Markets Could Soon Stir to Life
Reaction to reports of the Golden Knights shopping Max Pacioretty in today’s NHL rumor mill.
NBC SPORTS: Adam Gretz took note of TSN’s reporting the Vegas Golden Knights could consider trading Max Pacioretty. He points out only seven teams – “Florida, Columbus, Detroit, Ottawa, Nashville, Los Angeles, and New Jersey” – have sufficient salary-cap space to absorb the winger’s $7 million annual cap hit.

Vegas Golden Knights winger Max Pacioretty (NHL Images).
Gretz scratched the Blue Jackets from that list because re-signing Pierre-Luc Dubois will take up most of their $9.2 million cap space. Ottawa, Detroit and Los Angeles are rebuilding and probably unwilling to take on an expensive 32-year-old forward.
The Predators could be the best fit because they need a finisher. The Devils need a scoring winger alongside centers Nico Hischier and Jack Hughes. The Panthers need someone to replace departed winger Mike Hoffman.
BOSTON HOCKEY NOW: Joe Haggerty suggests the Bruins should take a run at Pacioretty. It could cost them winger Jake DeBrusk and perhaps defense prospect Urho Vaakanainen but Haggerty feels it would be a fair price for a big, skilled second-line scorer.
PITTSBURGH HOCKEY NOW: Dan Kingerski reports multiple sources are claiming the Penguins are among the clubs expressing interest in Pacioretty, with one saying general manager Jim Rutherford circled back on Wednesday and is awaiting a response. Kingerski considered the talks exploratory.
THE ATHLETIC: Jesse Granger reports his sources said Golden Knights GM Kelly McCrimmon is simply testing the trade market regarding the value of Pacioretty, goalie Marc-Andre Fleury and winger Jonathan Marchessault following a period without much player movement around the league.
Granger acknowledged the Golden Knights must become cap compliant before the season begins but believes they would be making a mistake trading Pacioretty. The club is built to win now and trading their leading goal scorer wouldn’t put them closer to the Stanley Cup. He also indicates the trade market isn’t strong right now, making it difficult to move high-salaried players like Pacioretty.
SPECTOR’S NOTE: ESPN.com’s Greg Wyshynski tweeted a report out of Las Vegas in which Golden Knights owner claimed his club is “not shopping Patches.” He admits they have cap issues that must be addressed before the season begins but moving Pacioretty isn’t among the options.
Granger believes McCrimmon could be looking at available options if he goes the trade route to shed salary. While they could easily get under the cap by demoting a player, McCrimmon could also be looking at freeing up enough salary to target a UFA forward like Mike Hoffman or former Golden Knights center Erik Haula.
I said yesterday that Pacioretty’s age, $7 million AAV and 10-team no-trade clause makes it difficult to move him given the current economic situation. Fleury ($7 million AAV, 10-team no-trade) and Marchessault ($5 million AAV, eight-team NTC) would also be tough to trade. I’m not saying it’s impossible, but the sticking points are significant.
The Bruins can’t afford Pacioretty’s salary. Cap Friendly indicates they have over $2.9 million in cap space. Moving DeBrusk’s $3.675 million won’t free up enough for the veteran winger. Yes, they could get some short-term cap relief by placing Brad Marchand or David Pastrnak on LTIR, but both could return to the lineup by February, forcing the Bruins to shed salary. Besides, I think their focus is on shoring up the left side of their blueline.
With just $1.3 million in cap space, the Penguins have less money to work with than the Bruins. Pittsburgh GM Jim Rutherford has a well-earned reputation for wheeling-and-dealing but I don’t see how he can pull off acquiring Pacioretty.
If McCrimmon doesn’t shop one of his expensive players, The Score’s Josh Wegman suggested perhaps moving a couple of depth players such as “Tomas Nosek ($1.25 million AAV), William Carrier ($1.4 million), Nick Holden ($1.7 million) and Ryan Reaves ($1.75 million). It could come to that if demoting a lower-salaried player doesn’t free up sufficient wiggle room under the cap.
In today’s NHL rumor mill, the Golden Knights are reportedly trying to trade Max Pacioretty plus the anticipation of increased activity in the trade and free-agent markets as the new season approaches.
TSN: Frank Seravalli reports the Vegas Golden Knights have “doubled down” in recent days and weeks in their efforts to trade Max Pacioretty. The 32-year-old winger has three years remaining on his contract with an annual average value of $7 million. He led the Golden Knights last season with 32 goals.

Vegas Golden Knights reportedly shopping winger Max Pacioretty (NHL Images)
The Golden Knights are over the salary cap and attempted earlier in the offseason to shed some salary. Seravalli suggests moving Pacioretty would clear sufficient salary to become cap compliant and perhaps take a run at unrestricted free agents such as Mike Hoffman and former Golden Knight Erik Haula.
KUKLA’S KORNER: The Athletic’s Jesse Granger reports winger Jonathan Marchessault ($5 million AAV) and goalie Marc-Andre Fleury ($7 million) have also come up in Golden Knights’ trade chatter.
SPECTOR’S NOTE: For the first time in weeks we’ve finally got a juicy NHL trade rumor. The last trade was made on Oct. 12, when the Golden Knight shipped defenseman Nate Schmidt to the Vancouver Canucks in a cost-cutting deal.
The Golden Knights are above the $81.5 million salary cap by over $974K according to Cap Friendly. Moving Pacioretty would indeed free up sufficient space for the Golden Knights to perhaps add a more affordable scorer like Hoffman or a cost-effective center by bringing back Haula.
Pacioretty’s cap hit, age and his 10-team no-trade clause, however, could make finding a suitable trade partner difficult. So will the limited number of clubs with sufficient cap room to comfortably absorb his full $7 million AAV.
Fleury was thought to be a goner when the Golden Knights signed goalie Robin Lehner to a contract extension. GM Kelly McCrimmon denied that speculation but Granger said the Golden Knights are looking into the trade values of Fleury, Pacioretty and Marchessault. Fleury also has a 10-team no-trade list while Marchessault has an eight-team list.
Whether it’s Pacioretty, Fleury or Marchessault on the trade block, the Golden Knights won’t want much (if any) salary in return. Only a handful of teams (New Jersey, Los Angeles, Nashville, Detroit and Ottawa) can comfortably afford any of them. Those clubs might not be on the trio’s lists of preferred trade destinations.
SPORTSNET: Elliotte Friedman reports action is starting to pick up in the free-agent market. UFA winger Mikael Granlund hopes to situate his family and could make a decision in the next few days. So could other notables such as Mike Hoffman and Andreas Athanasiou.
He believes some teams could start talking with the Seattle Kraken to see what they can do about future salary-cap space if the cap remains flattened.
Chris Johnston suggests keeping an eye on the restricted free agent market following the Philadelphia Flyers yesterday signing defenseman Philippe Myers to a three-year contract. He cites Ethan Bear in Edmonton, Oliver Kylington in Calgary and Erik Cernak in Tampa Bay among the blueliners who could be affected by the Myers signing.
Check out the latest notable contract signings plus an update on the Penguins in today’s NHL morning coffee headlines.
THE DENVER POST: The Colorado Avalanche signed Devon Toews to a four-year, $16.4 million contract. The annual average cap hit is $4.1 million. The 26-year-old defenseman will earn $2.35 million in 2020-21, $3.55 million in 2021-22, $4.6 million in 2022-23 and $5.9 million in 2023-24.

Colorado Avalanche sign Devon Toews to a four-year contract (NHL Images).
SPECTOR’S NOTE: The Avalanche acquired Toews earlier this month from the New York Islanders. Avs general manager Joe Sakic praised him as a “smart, two-way, puck-moving defenseman who is a durable defender and is excellent in transition”.
Toews is getting a significant raise over the $700K per season of his previous contract. Like a number of contracts signed during this offseason, his deal is backloaded to pay him more in actual salary in the latter years as league revenue is expected to increase.
THE DETROIT NEWS: An arbiter has awarded Tyler Bertuzzi a salary of $3.5 million for 2020-21. The 25-year-old Red Wings forward sought $4.25 million while the club offered $3.15 million. He earned $1.4 million last season. He will be a restricted free agent with arbitration rights at the end of next season.
SPECTOR’S NOTE: Bertuzzi was going to get a substantial raise given his performance over the last two seasons. It’s curious that he and the Wings needed arbitration to sort this out considering how narrow the gap was between them. It’ll be interesting to see if Bertuzzi goes that route again next year.
THE NEWS & OBSERVER: The Carolina Hurricanes avoided arbitration with Haydn Fleury, signing the 24-year-old defenseman to a two-year contract worth an annual average value of $1.3 million.
NEW YORK POST: The Islanders and winger Josh Ho-Sang avoided arbitration by agreeing to a one-year, two-way deal worth $700K at the NHL level.
SPECTOR’S NOTE: Ho-Sang requested a trade last year but the Isles couldn’t find any takers. This could be his last chance to stick with the franchise.
WINNIPEG SUN: The Jets signed restricted free agent forward Jansen Harkins to a two-year contract worth $725K per season.
OTTAWA SUN: The Senators signed forward Filip Chlapik to a one-year, two-way contract worth $750K at the NHL level.
THE PROVINCE: Former Vancouver Canucks defenseman Oscar Fantenberg has signed with KHL club SKA St. Petersburg.
THE SCORE: cites The Athletic reporting the Pittsburgh Penguins are exploring the possibility of hiring former Florida Panthers GM Dale Tallon in some capacity.
SPECTOR’S NOTE: The Penguins could also be considering bringing back Jason Botterill, who was fired as Buffalo Sabres GM earlier this year.
The latest on Marc-Andre Fleury and Robin Lehner, Canucks acquire Nate Schmidt, the Islanders sign Cory Schneider and trade Devon Toews to the Avalanche, and more in today’s NHL morning coffee headlines.
SPORTSNET: Vegas Golden Knights general manager Kelly McCrimmon said he will be keeping his goaltending tandem intact for next season and won’t be trading Marc-Andre Fleury. He also indicated Robin Lehner will undergo shoulder surgery but will recover in time for training camp.

Marc-Andre Fleury is staying with the Vegas Golden Knights (NHL Images).
SPECTOR’S NOTE: Fleury was the subject of trade speculation after Lehner got the bulk of the starts in the playoffs and signed a contract extension earlier this month. There was talk they were trying to move Fleury by getting a third team involved who would absorb part of his $7 million salary-cap hit. It was assumed he’d be moved to clear salary-cap space to sign Alex Pietrangelo, but the Golden Knights made another move (see below) to address that issue.
The coming season could be Fleury’s last in Vegas. He lacks a full no-movement clause and will likely be left unprotected in next year’s expansion draft.
THE PROVINCE: The Golden Knights found another way to shed some cap payroll after signing Pietrangelo yesterday, trading Nate Schmidt to the Vancouver Canucks for a third-round pick in 2022.
SPECTOR’S NOTE: The Golden Knights shed Schmidt’s $5.95 million cap hit. They’re still above the $81.5 million salary cap by over $974K but that’s within the 10 percent allowable offseason cap overage.
The Canucks, meanwhile, find a suitable replacement for Chris Tanev, who signed with Calgary as a free agent. Schmidt is a good puck-moving defenseman who can log over 21 minutes per game and skate on the left or right side of the blueline. He’s got five years remaining on his contract, which could become a cap headache in the latter years, but he should be a welcome addition to the Canucks defense corps in the short term.
TSN: The New York Islanders signed goaltender Cory Schneider to a one-year, $700K contract.
SPECTOR’S NOTE: The Isles are expected to go with Semyon Varlamov and promising Ilya Sorokin as their goalie tandem next season. Schneider is an affordable insurance move in case Sorokin struggles to adjust at the NHL level.
THE DENVER POST: The Colorado Avalanche acquired defenseman Devon Toews from the Islanders in exchange for a second-round pick in 2021 and a second-rounder in 2022. They also re-signed defenseman Ryan Graves to a three-year, $9.5 million contract.
SPECTOR’S NOTE: The Avs were looking for a defenseman after shipping Nikita Zadorov to Chicago for Brandon Saad over the weekend. Toews, 26, is a fine replacement. Colorado GM Joe Sakic sang his praises as “a smart, two-way puck-moving defenseman” who logs over 20 minutes per game and is “excellent in transition”.
Graves’ new contract is worth an annual average value of $3.16 million. That’s a considerable raise over the $735K of his previous deal. He earned it with a career-best 26-point performance and a league-leading plus-minus of plus-40.
Speaking of the Avalanche, The Athletic’s Ryan S. Clark took to Twitter reporting preliminary contract talks have begun with captain Gabriel Landeskog. He’s slated to become an unrestricted free agent next summer.
NBC SPORTS PHILADELPHIA: The Flyers signed defenseman Erik Gustafsson to a one-year, $3-million contract.
CHICAGO SUN-TIMES: The Blackhawks signed center Mattias Janmark to a one-year, $2.25-million contract and center Lucas Wallmark to a one-year deal worth $950K.
TWINCITIES.COM: The Minnesota Wild re-signed goaltender Kaapo Kahkonen to a two-year, $1.45-million contract.
NEW YORK POST: Alexis Lafreniere signed a three-year entry-level contract with the New York Rangers. The 19-year-old left-winger was the first-overall pick in this year’s NHL Draft.
THE ATHLETIC: Bill Shea reports talks are ongoing to extend the NHL’s 10-year, $2-billion broadcast rights contract with NBC Sports that expires at the end of next season. While the league’s playoff ratings were down due to the pandemic, it still helped NBCSN have one of its best-ever third quarters. ESPN, Fox Sports and Turner Sports are also interested in the NHL’s TV and streaming business.
The NHL’s free-agent market opens at noon ET today. Check out the latest speculation on Alex Pietrangelo, Taylor Hall, Torey Krug and many more in today’s rumor mill.
PIETRANGELO

St. Louis Blues defenseman Alex Pietrangelo could head to market today (NHL Images).
TSN: Pierre LeBrun reports St. Louis Blues defenseman Alex Pietrangelo was ready to go to market as of yesterday afternoon. He’s up to visiting with interested clubs that are willing to have him travel. It could take a couple of days until he reaches a decision on his destination and next contract. The Vegas Golden Knights, Florida Panthers and Toronto Maple Leafs could be among the interested parties.
TORONTO SUN: Lance Hornby reports it could take moving a high-profile Leaf or two, such as William Nylander or Frederik Andersen, to free up cap space to sign Pietrangelo. He feels general manager Kyle Dubas has hinted that’s not going to happen, giving Andersen a vote of confidence while staying out of the Matt Murray trade market.
PHILLY.COM: Sam Carchidi expects Pietrangelo will be too costly for the Philadelphia Flyers. He suggests more affordable options like Toronto’s Tyson Barrie, Boston’s Torey Krug or Calgary’s T.J. Brodie.
EKMAN-LARSSON
TSN: Darren Dreger said the Arizona Coyotes might not be able to meet the Friday trade deadline set by defenseman Oliver Ekman-Larsson. He’ll only waive his no-movement clause for the Boston Bruins or Vancouver Canucks.
SPORTSNET: Chris Johnston and Elliotte Friedman report the Canucks appear the more interested buyer for Ekman-Larsson.
THE ATHLETIC: Thomas Drance and Rick Dhaliwal report the parameters of a deal with the Canucks would include “a draft pick of some magnitude, an inefficient contract from their bottom-six and a prospect.”
NBC SPORTS BOSTON: cites TSN’s Darren Dreger reporting the Bruins don’t like Arizona’s asking price. The Coyotes are believed to prefer the Bruins’ prospects over the Canucks.
HALL
SPORTSNET: Chris Johnston and Elliotte Friedman report there’s some talk Coyotes winger Taylor Hall would consider a reunion with the Edmonton Oilers. It would be difficult to achieve that unless the Oilers shed some salary.
THE DENVER POST: Mike Chambers suggests Hall would be a perfect fit for the Colorado Avalanche’s second line. He’s open to a short-term deal, perhaps a one-year contract that could pave the way for a longer contract in free agency after next season.
THE ATHLETIC: With the Columbus Blue Jackets shedding salary yesterday, Aaron Portzline wonders if they might get into the bidding for Hall. Other options could include Florida’s Mike Hoffman or Evgenii Dadonov or Vancouver’s Tyler Toffoli.
MARKSTROM
THE ATHLETIC: Thomas Drance and Rick Dhaliwal report the Vancouver Canucks remain confident of re-signing Jacob Markstrom despite persistent rumors linking the goaltender to the Calgary Flames and Edmonton Oilers.
TSN: Pierre LeBrun reports the Oilers are among the teams that could be interested in Markstorm if he goes to market today.
SPORTSNET: Chris Johnston and Elliotte Friedman reported the Flames, Detroit Red Wings and Oilers (despite their salary-cap constraints) could pursue Markstrom.
EDMONTON JOURNAL: David Staples doesn’t see how the Oilers could afford Markstrom, who could seek $6 million annually on a long-term deal.
CALGARY SUN: Wes Gilbertson believes Markstrom should be the Flames’ top target in the UFA market. He feels Markstrom could become the high-end goalie they’ve been missing since Miikka Kiprusoff retired.
NEW YORK POST: Larry Brooks listed the Minnesota Wild as a possible destination for Markstrom if he goes to market.
STARTRIBUNE.COM: Sarah McLellan also included Markstrom among possible Wild UFA targets. Other options could include Washington’s Braden Holtby and Chicago Corey Crawford.
FLEURY
TSN: Frank Seravalli reports the Vegas Golden Knights have put trading goaltender Marc-Andre Fleury on the side burner for now. His no-trade clause and $7 million annual average value makes him difficult to move.
HOLTBY
TSN: Pierre LeBrun reports Capitals goaltender Braden Holtby is garnering interest from the Oilers.
NEW YORK POST: Larry Brooks believes the Dallas Stars and Minnesota Wild could be interested in Holtby.
KRUG
SPORTSNET: Chris Johnston and Elliotte Friedman report of increased chatter suggesting the Red Wings could pursue Boston Bruins defenseman Torey Krug. He was raised in a Detroit suburb and seeks long-term security. The Wings have the cap space to make a lucrative offer.
THE DETROIT NEWS: Ted Kulfan reports Red Wings GM Steve Yzerman would like to address his blueline issues with one or two defenseman signings. It remains to be seen if he’ll pursue Krug. Yzerman said he expects to be “relatively conservative” in the free-agent market.
KHUDOBIN
TSN: Goaltender Anton Khudobin is heading to market after talks broke off with the Stars. The Flames could be interested, along with the Canucks if they fail to re-sign Jacob Markstrom or the Golden Knights if they can move Marc-Andre Fleury.
TOFFOLI AND TANEV
THE ATHLETIC: Thomas Drance and Rick Dhaliwal report Canucks winger Tyler Toffoli and defenseman Chris Tanev are heading to market.
NBC SPORTS BAY AREA: Toffoli tops Brian Witt’s list of possible free-agent targets for the San Jose Sharks.
BRODIE AND HAMONIC
TSN: Darren Dreger reports the Flames renewed contract talks with defenseman T.J. Brodie. Dreger also believes Flames blueliner Travis Hamonic would sign with his hometown Winnipeg Jets but there’s not a lot of interest at the moment. The Maple Leafs, Ottawa Senators and Oilers could be among Hamonic’s suitors.
BARRIE
SPORTSNET: Chris Johnston and Elliotte Friedman reported the Oilers could have an interest in Maple Leafs defenseman Tyson Barrie as a short-term replacement for sidelined blueliner Oscar Klefbom.
GREISS
TSN: Pierre LeBrun believes New York Islanders goalie Thomas Greiss could draw interest from the Canucks if they fail to re-sign Markstrom or Vegas if they trade Fleury.
NEW YORK POST: Larry Brooks suggested Greiss or Cam Talbot could be a fit with the New Jersey Devils.
SPECTOR’S NOTE: The opening hours of the free-agent period tend to be very busy with the best available players being quickly signed. However, it will be interesting to see how the flattened salary cap affects the market and the pace of the signings.