FINANCIAL FIREWORKS IN NHL
Free agent deals worth $330M
Thirty minutes into the start of NHL free agency and more than US$284 million had already been handed out in new contracts.
A half-hour later, the number was up to $330 million for about 33 signings. No wonder most refer to July 1 as the start of the Silly Season. Well, stupid might be a better word for it.
From Chicago convincing defenceman Brian Campbell to take a discount and Edmonton and Buffalo handing out matching seven-year contracts to Milan Lucic and Kyle Okposo, respectively, here are the best and the worst deals of the day:
BEST DEALS
Alexander Radulov, Montreal
Contract: 1 year, $5.75 million ($5.75-million cap hit)
It sounds risky to bring in a player who twice fled for the KHL on bad terms. But the Canadiens, who took a similar gamble last year in signing Alex Semin to a one-year contract, have once again put the risk on the player. It’s in Radulov’s best interest to perform to his potential. If not, he might not get another chance in the NHL.
Eric Staal, Minnesota
Contract: 3 years, $10.5 million ($3.5-million cap hit)
After combining for 13 goals and 39 points with the Hurricanes and Rangers — his worst offensive season since 2003-04 — Staal’s best days are well behind him. But Minnesota seems to have recognized this. At $3.5-million, the expectation is that Staal will replace recently bought-out forward Thomas Vanek (18 goals and 41 points) at half the price.
Brian Campbell, Chicago
Contract: 1 year, $2 million ($2-million cap hit)
It wasn’t exactly a hometown discount. More like a championship discount. Whatever you want to call it, Campbell’s decision to return to Chicago, where he won a Stanley Cup in 2010, was the bargain of the day. The 37-year-old defenceman was never going to get anywhere close to the $7-million salary he made last year, but after another productive year in Florida he was in line for a pretty decent payday.
Dan Hamhuis, Dallas Contract: 2 years, $7.5 million ($3.75-million cap hit)
After losing Jason Demers and Kris Russell to free agency, the front-loaded Stars needed defencemen. And while Hamhuis isn’t the same player he was when he won a gold medal for Canada at the 2014 Olympics, the 33-year-old is still serviceable. That’s not exactly a ringing endorsement. But as a two-year stopgap, Hamhuis buys Dallas some time as 23-year-olds John Klingberg and Stephen Johns continue to develop.
Troy Brouwer, Calgary Contract: 4 years, $18 million ($4.5-million cap hit)
If there was something the Flames were missing last season — aside from a goalie who could stop the puck, of course — it was a heart-and-soul forward who can score big goals. Brouwer, who was traded to St. Louis for T.J. Oshie last summer, scored the game-winner in Game 7 against the Blackhawks. He’s the perfect complement to Johnny Gaudreau and will likely play a mentor role to first-rounder Matthew Tkachuk.
WORST DEALS
Loui Eriksson, Vancouver Contract: 6 years, $36 million ($6-million cap hit)
Is Vancouver trying to rebuild or contend? Even the Canucks don’t seem to know after signing Eriksson. While the Sedins will no doubt love playing with the 30-year-old forward who scored 30 goals and 63 points with the Bruins last season, Eriksson won’t turn the Canucks into Stanley Cup contenders. If anything, he’ll stall a rebuild that should have already been happening years ago and keep Vancouver in mediocrity.
Milan Lucic, Edmonton Contract: 7 years, $42 million ($6-million cap hit)
OK, so it might not be as bad as the contract that the Leafs gave David Clarkson in 2013. But it’s darn close. In fact, don’t be surprised if the Oilers also come to regret this deal in the next two years — especially after trading away Taylor Hall. We understand GM Peter Chiarelli’s thinking in wanting to protect Connor McDavid, but signing a 28-year-old in a 38-year-old’s body is not the answer.
Kyle Okposo, Buffalo Sabres Contract: 7 years, $42 million ($6-million cap hit)
The John Tavares effect is constantly brought up when talking about Okposo’s production with the Islanders. Fair or not, Okposo still only managed 22 goals and 64 points last season. That’s not worth $6 million a year. While Buffalo wants to contend right now and is hoping that chemistry will instantly form between Okposo and Jack Eichel, expecting it to last for seven years is a stretch for a player who will be 35 years old when the contract expires.
David Backes, Boston Contract: 5 years, $30 million ($6-million cap hit)
The power of intangibles played a large role in the Bruins’ decision to sign Backes. After all, he scored only 21 goals and 45 points last season. But the reason he’s being paid more than Brad Marchand ($4.5 million) is because he’s a leader and fits the Bruins’ mould of a big, heavy forward. With centres Patrice Bergeron and David Krejci signed long-term, Boston might have been better off signing a winger who can, you know, actually score goals.
Andrew Ladd, N.Y. Islanders Contract: 7 years, $38.5 million ($5.5-million cap hit)
Something is wrong here. The Islanders replaced Kyle Okposo and Frans Nielsen with Andrew Ladd and Jason Chimera? While Chimera scored 20 goals and 40 points in Washington last season, he is 37 years old. Ladd, who had a down year in Winnipeg before being traded to Chicago, will be 37 when this deal expires. There’s a good chance the Islanders will be regretting the contract well before then.