Miller time could last another year
‘PLAY TO EARN IT’: Canucks considering incentive-laden extension for veteran goalie
CHICAGO — The agent for Ryan Miller put a proposed incentive-laden one-year contract extension for his client into perspective Thursday.
To the mathematical layman, the concept is as clear as advanced calculus. To agent Mike Liut and the Vancouver Canucks, it could add up to addressing salary-cap concerns and also providing the veteran goaltender, who turns 37 next month, with a suitable salary plus bonuses.
Unless the pending unrestricted free agent intends to check out the open market July 1, discussions could pick up momentum this weekend after a brief talk between Liut and Canucks general manager Jim Benning on Wednesday night.
“Incentive-based contracts can only be done if you do a one-year deal if you’re over 35 and all you’re doing is moving money guaranteed from a fixed cost to a variable cost,” Liut said Thursday. “You’re essentially taking money off the cap for the summer and adding it back to the end number at the end of the year.
“When you start talking about the salary cap, it’s not that you don’t trust the player or think he’s not going to perform. It’s just a means of shifting money off the direct cap and shifting it to an indirect cap.
“With Ryan, you have to be careful with anyone over 35. They are going to agree to something that they can earn because the risk to the player is that he gets hurt. You have to play to earn it, and this just provides incentive. I’ve talked about every possible scenario with Ryan.”
A one-year incentive deal in the US$3-million-to-US$4-million range makes sense on several fronts.
From a competitive perspective, it allows starter-in-waiting Jacob Markstrom to continue to transition to the physical and mental demands of being the guy in a workable tandem with Miller — especially with his three-year, US$11-million extension kicking in next season.
Financially, it’s the only way to go because multi-year deals for players 35 and older carry risk.
The cap hit counts regardless of whether, or where, the player is active. The 35-plus rule was introduced in the 2005 collective bargaining agreement to keep clubs from burying veterans in the American Hockey League or front-loading contracts.
It has led to 35-plus players signing shorter contracts to prevent having a full cap hit applied if they are injured or unable to compete at an NHL level.
The Canucks have US$19.5 million in cap space, but contracts for Miller, Bo Horvat, Brendan Gaunce and two more restricted free agents — plus replacing Luca Sbisa via free agency — could eat up at much as US$15 million.
The Canucks also have to extend Sven Baertschi, Markus Granlund and Troy Stecher next summer. But if Henrik and Daniel Sedin retire and don’t take one-year extensions, that becomes an easier problem to solve.
An incentive-based extension for Miller doesn’t seem as complicated as it sounds.
“I don’t like to comment on negotiations, but that’s something that we’re looking at and talking about,” Benning said. “We’ll see if that concept works for their camp and it’s something we’d like to do. We’re in conversations and we’re going to talk again this week, so we’ll see where it goes.”
Benning has never wavered from his intention to re-sign Miller, who is coming off a decent season. While he’s had better numbers — his 2.80 goals-against average and .914 save percentage were similar to 2015-16 — he also made 54 appearances, which spoke to his durability and a battle level that never waned. The native of East Lansing, Mich., faced 40 or more shots on nine occasions, including three times in the final month.
There is also his mentorship and ability to support a transitioning back end in what will be a trying rebuild. That isn’t lost on the agent, the GM or Miller. It’s why reachable incentive-laden bonuses for games played, goals-against average and the team’s point total could sell the stopper on staying in Vancouver.
Committing to Miller isn’t a sign of a total rebuild — it would simply provide a foundation for the work already in progress.
“There’s no worse feeling than trying to develop young players and get them up and going when you know you don’t have a chance to win,” Benning said.
That’s why Miller has an important role to fill — if it makes financial sense.