Showing posts with label free agency. Show all posts
Showing posts with label free agency. Show all posts
Friday, August 23, 2013
Rumor Mill: Top FA Signed, Jagr To Retire After Season?
According to TSN, free agent center Mikhail Grabovski has signed a one-year deal with the Washington Capitals. The move comes as little surprise, as Washington needs centers and Grabovski will be able to fill a top-six role for them. A television outlet in Grabovski's native Belarus, ONT, said that the contract is worth $3 million. I believe this is a good signing for Washington, and they were able to get him at a very reasonable price too. He'll be able to produce right away and in a spot where he'll be comfortable.
Another interesting news story revolves around Jaromir Jagr. He recently hinted on his Facebook page that this season will be his last, and because of that he declared that he "can't be too risky."I'm not exactly sure what that means, but that can't sound very good to Devils fans, who are hoping that their team can overcome major offseason losses from a mediocre squad and return to the playoffs.
Thursday, August 15, 2013
Off-Season Update: August 15th
Colorado Avalanche has extended their Captain, Gabriel
Landeskog to a 7 year deal. The financial aspect of the deal has not been
released yet but Sportsnet has reported that the deal will be a total of $39
million (should be around $5.5 million per year). Landeskog still has a year
left on his entry level contract and this extension will start next summer.
Gabriel Landeskog won the Calder Memorial Trophy as league’s best rookie in the
2011-2012 season and in two season, he has 31 goals and 38 assists in 118
games.
The New Jersey Devils have switched ownership as Joshua
Harris and David Blitzer have become co-owners of the franchise. Both have
recently purchased the Philadelphia 76’s for $280 million in 2011. The price of
the purchase has not been revealed. Jeff Vanderbeek, the previous owner of the
New Jersey Devils will remain with the Devils as a senior advisor.
Wednesday, July 31, 2013
Latest Free Agent Signings
Scott Gomez signed a 1-year, $900K deal with the Florida Panthers. Gomez notched 15 points in 39 games for the San Jose Sharks last season.
Mats Zuccarello avoided arbitration by signing a 1-year, $1.15 million deal with the New York Rangers. Zuccarello was productive after returning from the KHL late in the season, as he scored 8 points in 15 regular season games and then another 8 in 12 playoff games.
The Winnipeg Jets locked up two of their core players to long term deals. Zach Bogosian signed for 7 years, $36 million while Blake Wheeler inked a 6-year, $33.6 million contract. The Jets are pretty high on these two, and they should be as they look to break through and make the playoffs next season.
Kyle Palmieri is remaining in Anaheim after signing a 3-year, $4.4 million deal. Palmieri scored 21 points in 42 games, with 5 game-winning goals. He added 5 points in 7 playoff games.
Nathan Gerbe is taking his talents to Tobacco Road. The pint-sized winger signed a two-way deal for 1 year and up to $550K. He's guaranteed at least $250K regardless of where he plays. Gerbe had 10 points in 42 games while buried in the Sabres' depth chart. Hopefully he gets some solid playing time for the Hurricanes.
Mats Zuccarello avoided arbitration by signing a 1-year, $1.15 million deal with the New York Rangers. Zuccarello was productive after returning from the KHL late in the season, as he scored 8 points in 15 regular season games and then another 8 in 12 playoff games.
The Winnipeg Jets locked up two of their core players to long term deals. Zach Bogosian signed for 7 years, $36 million while Blake Wheeler inked a 6-year, $33.6 million contract. The Jets are pretty high on these two, and they should be as they look to break through and make the playoffs next season.
Kyle Palmieri is remaining in Anaheim after signing a 3-year, $4.4 million deal. Palmieri scored 21 points in 42 games, with 5 game-winning goals. He added 5 points in 7 playoff games.
Nathan Gerbe is taking his talents to Tobacco Road. The pint-sized winger signed a two-way deal for 1 year and up to $550K. He's guaranteed at least $250K regardless of where he plays. Gerbe had 10 points in 42 games while buried in the Sabres' depth chart. Hopefully he gets some solid playing time for the Hurricanes.
Saturday, July 27, 2013
Newest Free Agent Signings and Rumors
Here is a list of the most recent free agent signings and rumors:
Colby Armstrong signs with Vaxjo of the SHL. Rumors were that he only received two-way offers from teams and so he's heading to Sweden to try and revitalize his career.
Mikhail Grabovski has narrowed his possibilities to three teams, but no decision will be made for at least another week, if not more. We don't know which teams are among the three, except that Winnipeg is not among them, according to Aaron Ward.
Teams are contacting the Toronto Maple Leafs about the availability of Dion Phaneuf. The calls are being made because Phaneuf has only one year left on his deal and other GMs are wondering if the Leafs can re-sign him.
Continuing the Toronto-related rumors, Cody Franson is likely to be shopped before camps open. The Leafs are having difficulty coming to an agreement with Franson on a new deal, so they may look elsewhere in a trade.
Damien Brunner is supposedly close to signing with the Devils. He's been holding out all this time because he wants to land with a team that will give him top six minutes and significant time on the power play, but nobody has stepped up because the vibe around the league is that one lockout-shortened, streaky season does not make a proven scorer.
Phoenix might trade one or more of its defensemen before the season starts. They currently have nine players signed to one-way contracts on their back end. Keith Yandle and Oliver Ekman-Larsson would have to be considered untouchable, so the likely trade candidates would be guys like David Schlemko, Rostislav Klesla, and Chris Summers. There were also rumors that Coyotes GM Don Maloney turned down two offers for Yandle: A package of Matt Read and Sean Couturier from the Flyers, and a package of Magnus Pajaarvi and Sam Gagner from the Oilers.
Colby Armstrong signs with Vaxjo of the SHL. Rumors were that he only received two-way offers from teams and so he's heading to Sweden to try and revitalize his career.
Mikhail Grabovski has narrowed his possibilities to three teams, but no decision will be made for at least another week, if not more. We don't know which teams are among the three, except that Winnipeg is not among them, according to Aaron Ward.
Teams are contacting the Toronto Maple Leafs about the availability of Dion Phaneuf. The calls are being made because Phaneuf has only one year left on his deal and other GMs are wondering if the Leafs can re-sign him.
Continuing the Toronto-related rumors, Cody Franson is likely to be shopped before camps open. The Leafs are having difficulty coming to an agreement with Franson on a new deal, so they may look elsewhere in a trade.
Damien Brunner is supposedly close to signing with the Devils. He's been holding out all this time because he wants to land with a team that will give him top six minutes and significant time on the power play, but nobody has stepped up because the vibe around the league is that one lockout-shortened, streaky season does not make a proven scorer.
Phoenix might trade one or more of its defensemen before the season starts. They currently have nine players signed to one-way contracts on their back end. Keith Yandle and Oliver Ekman-Larsson would have to be considered untouchable, so the likely trade candidates would be guys like David Schlemko, Rostislav Klesla, and Chris Summers. There were also rumors that Coyotes GM Don Maloney turned down two offers for Yandle: A package of Matt Read and Sean Couturier from the Flyers, and a package of Magnus Pajaarvi and Sam Gagner from the Oilers.
Wednesday, July 24, 2013
Jaromir Jagr Isn't The Answer In New Jersey
There's little doubt in the minds of hockey fans that Jaromir Jagr has had a brilliant career. He currently ranks eighth on the all-time scoring list, with 1,688 points. He is one of only twelve players to top the 1,000 assist mark, and he is tenth in goals with 681. The man is no doubt a first-ballot Hall of Famer. After a rather cryptic and confusing video was posted on Jagr's Facebook page, one in which he said that his future in the NHL was "black", he has decided to continue his career after signing a 1-year, $2 million contract with the New Jersey Devils.
As for the contract itself, the deal is really worth $4 million, but Jagr only gets that figure if he plays in 45 games next season. It's a number he should reach easily, barring a catastrophic injury. Since performance bonuses count against the cap (teams are allowed to go over the cap by 7.5%, or $4,822,500 for next season, in performance bonuses), it allows the Devils some leeway on their bottom line should Jagr get hurt and miss substantial time.
That much is fine with what the Devils did. They got a serviceable player for a good price in a free agency year where teams, including the Devils themselves, are wildly overspending for marginal players. I still don't like the signing, and I don't think it does the Devils any favors this season. Here are my reasons:
- Jagr doesn't fill their biggest positional need. Jagr plays the right side, which is a position that the Devils aren't exactly stacked at, but they did sign Michael Ryder to be a goal-scoring RW. Look over to the other wing. Want to know who their best left wing is right now? Ryane Clowe. Yes, that Ryane Clowe, who posted three goals and three concussions in time split between the Sharks and Rangers last season. Now, Jagr could play alongside Clowe and Travis Zajac and have a nice season... or he could have those same linemates and not produce. He could also be slotted in the second line with fellow countryman Patrik Elias and what at this point looks like a revolving door on the left side (could be Rostislav Olesz; I think they'd be better served with giving Stefan Matteau a shot). Again, feast or famine. It simply isn't a good fit for either party from this aspect.
- He isn't the same player anymore. Let's be real, folks - this isn't 1996. Jagr's nearing the end of his career, and the Devils should have spent that money on younger free agents, because this is a team in rebuilding mode. Jagr's no longer a 100-point guy. Hell, he isn't even a point per game guy. I think he can give the Devils about 50 points, which isn't bad, but it's nothing to call home about. Furthermore, it certainly doesn't replace Ilya Kovalchuk's production, and I'm not sure it even replaces David Clarkson. Now, if Jagr and Clowe were one player with their combined talents, that would be sufficient to replace Clarkson. As it stands, they're getting a player who needs to have short shifts, can't play much defense, and hogs the puck at times. The Jagr of old was a complete player.
- This isn't exactly a team on the cusp of a Cup. At this point in his career, Jagr is best utilized playing for a team that he can put over the top. Had the Devils made a deal for Jagr at the 2012 trade deadline, we might be talking about how they were the champions that year and not the Kings. Right now, after Zach Parise, Kovalchuk, and Clarkson all bolted in about a year's time? I don't think it makes sense. Keep in mind that they lost the latter two guys from a team that finished last in the Atlantic. At the time of this post, I'm not sure I consider the Devils to be better than any team in the newly-formed Metropolitan Division. What does this mean for Jagr? It means that he's likely going to be dealt at the deadline, once again being a rent-a-player for a contender, just as he was for Boston last season.
Now, you could argue that there are positives in this. It could be said that Jagr might help mentor the young talent and make them better. It's possible, but the Devils already have a core of older guys (plus Zajac) to do that. Of course, Jagr does provide scoring on a team that sorely lacks it. I feel that they still sorely lack it, as Ryder might be their only bonafide sniper, but it can't hurt them offensively. Lastly, neither side has much to lose; the Devils only have to pay half the contract if Jagr gets hurt, can always trade him, and Jagr would be welcomed on almost any team regardless of his level of play because he's so experienced.
What all this adds up to is that the Devils are getting a hockey legend who is now a shell of his former self, which is still a slightly above average top six forward. He'll help them, but not enough to make a substantial jump in the standings (read: playoffs) and he's already my top pick to get dealt at next season's trade deadline. I sure hope Lou Lamoriello thinks it was worth it after next season.
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Wednesday, July 17, 2013
Off-Season Update

Here is a list of recent Offseason signings and some thoughts on each of them.
- Dustin Penner has returned to the Anahiem Ducks with a 1 year deal worth 2 Million. I feel that this was a good signing for the Ducks as they added a top 6 forward with good size at 6'4" and 240 lbs. In the shorten season, he had 14 points in 33 games but he was mostly on the 3rd line and the 2nd Power Play unit for the Kings. I feel that with the Ducks, he could be on the 1st or 2nd line and we could see about 45-60 points this upcoming season. He was with the Ducks when they won the cup in 06-07 and he will fit in nicely on either the top line line Getzlaf and Perry or the second line with Selanne (still an UFA).
- Detroit has resigned Brendan Smith to a 2 year deal worth 2.525 million per year. Brendan Smith was the 1st round pick of the Red Wings in 2007 and is a top 4 defenceman for the Wings. I feel that the Wings gave a little bit too much money for the young Dman but at 24 and only 2 years of NHL experience, he still has a lot of potential to be solid on the blue-line.
- Islanders resign Josh Bailey to a 5 year deal worth 16.5 million. I feel that this is a great signing for the Islanders. Bailey, 9th overall in the 2008 draft, is only 23 and has become a solid 2nd line center for the Islanders. He plays on both the PK and the PP and was an important piece in the Islanders reaching the playoffs. In the shorten season, he was able to accumulate 19 points in 38 games and I can see him getting around 40-50 points in a full season.
- Alec Martinez has been resigned by the Los Angeles Kings to a 2 year deal. Terms have not been released yet. Since the terms of the deal has not been released, it's a bit difficult to put a full review on this signing. That being said, I feel the Kings have resigned an important part of their team. Martinez is a 3rd line defenceman on a team that is build around Drew Doughty. Based on his first deal, I feel that the terms of the deal will be about 1.3 million or so. If it is, I feel that the Kings were able to re-sign a key part of their defensive unit.
- Jacob Markstrom signs a 2 year deal with Panthers. Terms have yet to be released. Markstrom is the future goalie of the Florida Panthers but its taking a bit longer than thought. He plays for a rebuilding Panthers team that will be better with the addition of 2nd overall Aleksander Barkov. I feel that Markstrom will be a solid starting goalie but he is only 23 and the Panthers will still be at the bottom of the Eastern Conference for a few more years.
Monday, July 15, 2013
Predicting Where The Top Remaining UFAs Will Land
Here are the top 25 remaining UFAs, according to NHL.com, and where this writer thinks they'll land:
Forwards:
Jaromir Jagr - Vancouver
He's going to want to play for a contender, but not many can say that they have the chops to contend and the cap space to sign a guy like Jagr, who made $4.5 million last season. The only team I can think of that fits both categories is the Canucks.
*UPDATE 7/16* Jagr posted a cryptic video on his Facebook page. It seems to imply that he won't be playing in the NHL next season, but it's been confirmed that he will be explaining this turn of events tomorrow.
Alexei Ponikarovsky - Columbus
Ponikarovsky shouldn't be an expensive pickup for a prospective buyer, and given the Blue Jackets' relative lack of size up front and need for another checking winger, this could be a good fit. He could also help on the power play, cleaning up rebounds.
Mikhail Grabovski - Buffalo
I would have said Arizona, had they not signed Mike Ribeiro earlier. Grabovski would be able to step right in and be the #1 pivot for the Sabres, which is the type of role that he needs to be in to succeed. Buffalo has ample cap space to get him even though he won't come cheap, and the thought of centering a line with Thomas Vanek has to be appealing to him. Granted, the Sabres have pretty much nothing else around Vanek and Ryan Miller, but I have to believe that Grabovski would take the chance to torch his former team five or six times a season if he could.
Damien Brunner - New Jersey
Since Ilya Kovalchuk quit on them, the Devils have some money to play with now. This means that they're certainly in play for a least a couple of names on this list, but Brunner is one they should target. He was on a roughly 50-point pace last season, and he also tallied 9 points in 14 playoff games for Detroit. He won't score like Kovalchuk did, but he can provide some scoring punch, something that the Devils are sorely lacking.
Dustin Penner - St. Louis
I don't really have any logical backing for picking the Blues as the destination for Penner, but after trading David Perron to Edmonton for Magnus Paajarvi and a second round pick in next year's draft (I'm still scratching my head over that move, Perron's yet to hit his peak), maybe they look to add even more size, with the added benefit of veteran leadership, by signing Penner.
Brenden Morrow - Anaheim
Can't fault the guy for chasing a cup, but he certainly isn't going back to Pittsburgh, that's for sure. The Ducks, who have a bunch of free agents but only two (Selanne and Lydman) worth trying to re-sign, could be a landing spot for Morrow. They could use another veteran up front, and Morrow proved to be a solid checking forward after coming over to Pittsburgh.
Daniel Cleary - Detroit
The Wings have made it clear that they want to bring Cleary back, so I don't have much else to say here.
Milan Hejduk - Minnesota
As crazy as it sounds, I think this is where Hejduk ends up. He wants to play for a team that will slot him in the top six, and I'm assuming he also wants that team to be pretty good. Minnesota's the best balance of that out there, with just enough cap room to sign him, if desired. He could conceivably play alongside Jason Pominville and Kyle Brodziak, which wouldn't be a bad #2 line for the Wild.
Peter Mueller - Florida
He's still eligible for arbitration, so I think that one way or another, Mueller remains in Sunrise. Whether he can return to the form he displayed in his rookie season, scoring 22 goals for the Coyotes, remains to be seen.
Brad Boyes - Washington
I have to be honest, I'm surprised that Boyes is still on the market. Even more surprised that the Islanders aren't bringing him back, after he put up 35 points in 48 games for them. He was a bit of an adventure at times on both ends, but he proved he could still produce at the NHL level. I think he winds up in Washington. The Caps need scoring, no matter the source or position, and Boyes can provide that if he's paired up with the right linemates.
Kyle Wellwood - Calgary
Wellwood is a guy who needs to be in the top six in order to reach his potential. Looking at the Flames depth chart, he could probably step right into a top six spot for the Flames. I think he's underrated, but then again he's 30 years old and his career high is 47 points. Maybe he goes to Calgary and helps bring some of their young talent along.
Scott Gomez - New Jersey
Why not? Gomez won't be back in San Jose and I'm not sure there's much of a market for him around the league. He might have to go back to the place where he made a name for himself.
Nik Antropov - Winnipeg
The Jets have a little under $20 million in cap space to work with (highest in the league), though they do have a total of 12 free agents to decide on. One would think they'll hang on to Wheeler, Little, and Bogosian at the very least, and I believe they'll keep Burmistrov and Postma as well. Whether that means they'll have enough left to keep Antropov remains to be seen, but I think that when all is said and done, he'll stay in Manitoba.
Mason Raymond - Edmonton
I could see the Oilers making a big play for Raymond, as they seem to be trying to get even faster than they already were. Playing on the league's fastest ice will benefit someone like Raymond, who once scored 53 points (25 goals) for Vancouver. It might also help him to not be buried on a depth chart.
Simon Gagne - Toronto
Wherever he lands, it'll likely be a one-year deal due to his injury history. However, he can still produce offensively and the Leafs could use the help... especially after buying out Grabovski.
Teemu Selanne - Anaheim
He either goes back to the Ducks or retires. Simple as that.
Defensemen:
Douglas Murray - Colorado
The Avalanche need a guy like Murray. He's big, strong, throws huge hits, and is a smart player in his own end. Given that they allowed 150 goals last season (3.12 per game), which was 4th-worst in the NHL, they could use the help in front of Semyon Varlamov. He's a good fit for them, the real question is whether they're a good fit for him.
Ron Hainsey - Nashville
Hainsey's been steady for the Jets, but I don't think he'll be back in Winnipeg next season. Enter Nashville, who has already spent a boatload of money on second-tier and lower forwards this offseason, but hasn't addressed their defensive depth yet. They could use a guy like Hainsey to replace Jonathon Blum.
Ryan Whitney - Calgary
Whitney's probably going to wind up with a two-way contract for a bad team, and the Flames could use the depth. He hasn't been the same since suffering an ankle injury three years ago, but he could still find himself playing on a bottom pairing.
Wade Redden - Chicago
To be perfectly honest, your guess is as good as mine. Somehow I see Redden taking a minimum contract to play for the Blackhawks. There isn't and shouldn't be a market for him at this time.
Ian White - NY Islanders
A scratch in the playoffs for Detroit, he's out to prove that he can still play in the NHL. Since they're used to doing things of this nature, it wouldn't shock me to see the Isles take a flier on White. At worst, he's a second-pair defenseman on that roster, and we all know that they can use all the help they can get on defense.
Goaltenders:
Tim Thomas - Ottawa
It actually makes perfect sense for the Senators to bring Tim Thomas in. Their current backup, Robin Lehner, is on a two-way deal for one more season. After getting Bobby Ryan in a trade with the Ducks, the Senators have made it apparent that they're trying to win now. I think they should bring Thomas in, see if he can still play, and if not they can just keep Lehner as their backup.
Ilya Bryzgalov - KHL
At this point, I would bet money on Bryzgalov being done in the NHL. It became obvious during his time in Philadelphia that the only reason he was productive in Glendale was Dave Tippett's system. Could he succeed on some teams in the NHL? I suppose. However, those teams are already set in goal. I'm talking about teams like Columbus, Los Angeles, Montreal, and any other team that plays solid defense. He's going back to Russia.
Jose Theodore - Vancouver
He certainly won't make Canuck fans forget about Corey Schneider, but Theodore won't be back in Florida and will be the backup somewhere. The Canucks haven't really replaced Schneider yet, so they're as good a place as any for Theodore to end up.
Johan Hedberg - Retirement/Elitserien
I'm sorry, but The Moose is done in the NHL. He didn't play well in the backup/spot starter role a season ago, and at 40 years old, he probably won't have a market for his services. He could go back to Sweden and play there, but I'm thinking he retires.
Saturday, July 13, 2013
How Ilya Kovalchuk Screwed New Jersey
If you're like me, you were shocked to learn of Ilya Kovalchuk's sudden retirement from the NHL, at age 30. If you haven't heard about it yet... well, sorry for the lack of a spoiler alert, but yes, it's true. Kovalchuk left 12 years and $77 million out of his original 15-year, $102 million contract on the table because he simply wants to return home to Russia and play in the KHL. He turned down being "the guy" in Newark, just so he can go home and half ass his way to being one of, if not the best player that the KHL has ever seen. Don't get me wrong, the KHL has some talent, but let's be real, it's not on the NHL's level. There are many (the bulk being Devils fans, I would assume) who are sad to see him go. By most accounts, he's an exciting player to watch, always a threat to score, and has good offensive vision, but he's quite the liability in his own end. And I'll grant all of that. What's my reaction to Kovalchuk leaving for Mother Russia?
Good riddance.
Had this come about before free agency started, or right after the end of the season, I'd have understood. However, let's look at what New Jersey has done so far this offseason:
- They inexplicably signed Marek Zidlicky to a 1-year deal worth $3 million. I heard plenty of Devils fans calling for Zidlicky's head by the end of this past season. He can still skate well and he moves the puck, but the Devils have a loaded defense corps in their farm system. In what's looking like a rebuilding year, it's time to give the kids a crack at the big show.
- In what was undoubtedly their best move so far, the Devils picked up Michael Ryder for 2 years and $7 million total. Ryder only appeared in 27 games for Montreal this past season, but he was on pace for 30 goals and 63 points over an 82-game season. He'll be called upon to replace the possibly fluky season that David Clarkson had two seasons ago, when he scored 30 goals in 80 games (note: he did score 15 in 48 games this past season, but I'm not banking on another 30 from him... not on Toronto), and I think Ryder can do the job adequately. He's still a productive player.
- They gave the following gem of a contract to Ryane Clowe: 5 years, $24.25 million. We're talking about a guy who had as many concussions (three) as he did goals this past season, and all three of his goals came after the trade deadline, when the Sharks dealt him to the Rangers. What boggles my mind is that they let Clarkson walk, I'm guessing because they didn't think he was worth the money that Toronto gave him (7 years at $5.25 million per), yet they hand Clowe a fat contract after the guy completely wasted his contract year.
- They traded the #9 overall pick in the recent draft (which became Bo Horvat, a center out of the OHL) to Vancouver in exchange for Corey Schneider. Good on them to get their "goaltender of the future" situation sorted out, even though it cost them a top pick in one of the deepest drafts we've seen in a long time. There's also the issue of them not having a first round pick in next year's draft (more on that in a bit), but still, I believe it was a move they had to make.
- Not finished yet, the Devils inked the remarkably unspectacular Rostislav Olesz to a 1-year, $1 million contract. Olesz had his most productive campaign for Florida in the 2009-10 season, posting 29 points in 78 games. He hasn't played many meaningful minutes since then and has played in the AHL for the better part of the last two seasons. However, he should get a crack at making the team, since it's a one-way contract.
Given all of these occurrences, Kovalchuk's retirement coming about now, as opposed to a month ago, has to be considered a dagger to the Devils' hopes of contention next season and beyond. While it does free up $6.55 million in cap room per season, we're talking about the team that ranked 21st in attendance a season ago. The Devils have been in dire straits financially for a few years now, and with a volatile ownership situation to boot. They did turn a profit this year, but owner Jeff Vanderbeek missed a $3 million interest payment in April and the company that operates the Prudential Center, Devils Arena, owes $170 million to lenders. For the record, I can't see them moving out of New Jersey, but I digress. Kovalchuk puts asses in seats - that much is obvious. Without him, and Marty Brodeur likely done after next season, the cupboard's pretty bare in Newark. We're looking at a nucleus of Elias, Schneider, Zajac, Henrique (if he re-signs), Zubrus, Ryder, and Clowe, with more aging defensemen than I'd like to count. You could certainly do worse than that in terms of a roster, but that bunch doesn't exactly scream "playoffs". Plus, and this is possibly the worst of all, the Devils don't have a first round pick in next year's draft. Why? Because they circumvented the salary cap when they tried to sign Kovalchuk the first time, and they deferred the league's penalty of docking a first rounder in any one draft from 2011-2014 until now. Not only that, but on paper, this roster might produce a pick in the top five. In the short-term, they're boned unless new investors come along or the team is sold outright.
However, if they can weather the storm, I believe that the Devils will be better off in the long run. They won't have to worry about Kovalchuk playing zero defense on a nightly basis, nor do they have to worry about him pulling any more dick moves like this. The extra cap space, theoretically, means that they can go out and get some free agent talent in the future, or make a trade for a big contract without worrying about having to dump salary the other way. Given the way GM Lou Lamoriello has spent money so far, though, I wouldn't count on much in the realm of intelligence on that front. They'll be able to build around Adam Henrique and their young defense, along with Schneider, and probably get back to playing the type of hockey that we're all used to seeing: gritty, defensive, and bend-but-don't-break. Even in the ludicrously-stacked Patrick Division (I'm calling the divisions by their old names until the NHL says otherwise), the Devils can still be competitive. It's going to be a few years before we can think about calling them contenders again, but the NHL has a flow to it, and the Devils will be back someday.
Let's hope that they learned a lesson from this, and that's to always be wary of signing and/or drafting Russian players. Between Radulov, the Kostitsyns, and now Kovalchuk, the threat of defection to the KHL is as prevalent as ever.
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