As NHL free agency is now a few days old, a surprising number of prominent players have chosen loyalty and stability over testing the open market, and many did so at significant financial discounts.
Yes, as expected in the rising salary cap era, there were big-money contracts handed out. However, the number of players who took less to either keep their clubs together or stay where they were comfortable was also a significant storyline.
Brock Boeser Surprisingly Goes Back To Vancouver
One of the top available names, Brock Boeser, is staying with the Vancouver Canucks on a seven-year contract worth $7.25 million annually. While Boeser likely could have commanded more on the open market, he was approached by the Canucks in the final hours and took the longer deal.
Speculation is that Boeser was preparing himself to move on and the Canucks were targeting other options, but the Canucks circled back and Boeser said, "My heart was still with Vancouver.”
Jake Allen Gets Low AAV Over Several Years
Veteran goaltender Jake Allen, considered one of the top goalies set to hit free agency, also opted to stay put, signing a long-term deal with the New Jersey Devils. The 33-year-old signed for five years at just $1.8 million per season, well below what comparable netminders have received in recent years.
Though the term carries some risk, Allen’s cap-friendly number keeps the Devils in a flexible financial position. There is no doubt that, with the limited number of quality goalies on the market, Allen could have gotten more. Perhaps he wouldn’t have gotten the five years, but he could have doubled his salary.
Florida Convinces Its Guys To Stay
In Florida, the Panthers continued their off-season work by re-signing key players. It’s hard to argue that Sam Bennett didn’t get full value on his extension ($8-million times eight years), but Aaron Ekblad and Brad Marchand both agreed to new deals at a much lower AAV than they could have gotten elsewhere.
The Panthers made it up to Marchand, 37, with a longer term that offers stability as he enters the twilight of his career. Ekblad could have gotten more than $6.1 million. It’s important to keep in mind the tax savings each player gets, which likely had as much to do with staying as being on a contender did.
Money Wasn’t Enough Reason For Giroux To Leave Ottawa
In Ottawa, Claude Giroux made it clear that comfort and chemistry mattered more than dollars. The veteran forward signed a one-year contract with the Senators for $2 million in base salary, with the potential to earn up to $2.75 million in bonuses. Giroux acknowledged that while he and his family considered other options, their hearts remained in Ottawa.
“We like the fans, I love my teammates. We just like everything about it,” Giroux said.
Being where he was meant more than the extra dollars he would have gotten to uproot his family.
Tavares Stays With His Beloved Maple Leafs
The Toronto Maple Leafs’ former captain, John Tavares, potentially took the biggest discount of them all. He could have earned as much as $6-8 million on the open market for several seasons. Instead, he chose to leave millions on the table and took a substantial discount, signing a four-year extension with an average annual value of $4.38 million.
Despite his age, this was far below the market value for a player of his pedigree. The 34-year-old accepted less than the recent deal signed by Brock Nelson and the Avalanche (three years, $7.5M), and even came in under Matt Duchene’s four-year, $4.5-million pact in Dallas (some concessions should be made for the fact Nashville and Dallas are both paying Duchene).
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