Assessing Five Recent Notable NHL Player Moves
Mike Hoffman joining the Blues and two significant trades by the Senators highlights this roundup of the notable Christmas holiday weekend news in the NHL morning coffee headlines.
THE ATHLETIC: Jeremy Rutherford reports the St. Louis Blues signed free agent Mike Hoffman to a professional tryout offer. Hoffman can negotiate with other clubs while training with the Blues. However, Rutherford believes the two sides have in place a one-year deal worth between $3.5 million and $4.5 million, and they’re waiting to officially announce it because of salary-cap implications.
SPECTOR’S NOTE: I doubted the Blues would sign Hoffman unless he was willing to reduce his rumored asking price of between $5.5 million and $6.5 million. He’s apparently done so to join a Stanley Cup contender.
Hoffman will provide some much-needed short-term offense with sniper Vladimir Tarasenko sidelined by offseason shoulder surgery. A solid performance could improve Hoffman’s chances of a more lucrative deal in next year’s UFA market.
Cap Friendly shows the Blues with $1.175 million in cap space with Vince Dunn to be signed. They will get cap relief by placing Alexander Steen and his $5.75 million annual average value on long-term injury reserve at the start of the season.
Rutherford points out having Hoffman on a PTO gives Blues general manager Doug Armstrong time to determine how much it’ll cost to re-sign Dunn. It could also allow time to make a cost-cutting trade, though they could also get some wiggle room if necessary by placing Tarasenko ($7.5 million AAV) on LTIR.
ARIZONA SPORTS/OTTAWA SUN: The Senators were busy in the trade market on Sunday. Their first move saw them ship a 2021 second-round draft pick (originally owned by the Columbus Blue Jackets) to the Arizona Coyotes in exchange for center Derek Stepan.
SPECTOR’S NOTE: A good move by both clubs. The Coyotes wanted to shed some salary and the rebuilding Senators sought some short-term experience and leadership at center.
PuckPedia pointed out this deal gives the Coyotes a projected $3.7 million in salary-cap space without having to place Marian Hossa on long-term injury reserve (LTIR). They can accrue cap space to put toward this season’s trade deadline and their performance bonuses earned won’t automatically carry over into next season. That extra second-rounder will offset their lack of a third-round pick in the ’21 draft.
Some folks wondered why the Senators took on Stepan when (in their minds) they could’ve pursued better options. One reason is Stepan will get more playing time with the Sens than he was getting with the Coyotes. Another is he lacked no-trade protection. His actual salary is another factor. While his annual average is $6.5 million annual average value for this season (the last of his contract), his actual salary is just $2 million.
Critics feel the Senators gave up too much for Stepan by parting with a second-round pick. This, however, was a move they could afford to make. They still have two second-round picks in the ‘21 draft and could land another second-round pick if they decide to peddle Stepan at the trade deadline. Failing that, they could get a third-rounder. Some will scoff at that notion but one must never underestimate the willingness of general managers to overpay at the deadline.
OTTAWA SUN/TAMPA BAY TIMES: The Senators’ second deal saw them send the contracts of winger Marian Gaborik and goaltender Anders Nilsson to the Tampa Bay Lightning in exchange for defenseman Braydon Coburn, forward Cedric Paquette, and a second-round pick in 2022.
SPECTOR’S NOTE: Gaborik hasn’t played since 2017-18 while Nilsson is expected to miss this season with concussion symptoms. The Lightning will place their combined salaries ($7.5 million) on LTIR, allowing the club to become cap compliant when this season begins.
Like Stepan, Coburn and Paquette will provide the Senators with short-term experience and leadership. Both will be unrestricted free agents next summer, though there’s a chance the Sens could sign the 27-year-old Paquette to an extension if he plays well this season.
OTTAWA SUN: The Senators also signed top prospect Tim Stuetzle yesterday to a three-year entry-level contract. He was given his release by Adler Mannheim in the German league Sunday in order to sign with the Sens.
SPECTOR’ S NOTE: This signing isn’t surprising considering how well Stuetzle’s performed for the COVID-ravaged German squad thus far in the 2021 World Junior Championship. The 18-year-old winger is expected to finish the tournament with Germany and join the Senators’ training camp following a seven-day quarantine in Ottawa.
TSN: Ilya Kovalchuk has officially signed a two-year contract with KHL club Avangard Omsk.
SPECTOR’S NOTE: That should bring Kovalchuk’s second tenure in the NHL to a permanent close. He’s no longer the scoring threat he once was, bouncing last season from the Los Angeles Kings to the Montreal Canadiens to the Washington Capitals.
NBC SPORTS CHICAGO: The Blackhawks signed free-agent center Carl Soderberg to a one-year contract worth $1 million.
SPECTOR’S NOTE: This move comes after Blackhawks promising young center Kirby Dach suffered a fractured wrist last week playing for Canada at the World Juniors.
THE SCORE: The Capitals signed free-agent goaltender Craig Anderson to a professional tryout contract. This signing comes less than two weeks after Henrik Lundqvist was sidelined for the season by a heart condition.
EDMONTON JOURNAL: The Oilers signed free-agent defenseman Slater Koekkoek to a one-year contract worth $850K.
THE COLUMBUS DISPATCH: The Blue Jackets signed free-agent defenseman Michael Del Zotto to a professional tryout contract. He’ll compete for either a roster spot or a place with the Jackets’ taxi squad.
TSN: Buffalo Sabres defenseman Casey Nelson has opted out of playing the 2020-21 NHL season.
SPECTOR’S NOTE: The deadline for player opt-outs was Dec. 27.
THE SCORE: Forward Mark Letestu announced his retirement yesterday after 11 NHL seasons. He tallied 93 goals and 210 points in 567 games with the Pittsburgh Penguins, Columbus Blue Jackets, Edmonton Oilers and Winnipeg Jets.
SPECTOR’S NOTE: Best wishes to Letestu in his future endeavors.