Despite having limited salary-cap space entering free agency, the New York Islanders made two moves on Monday. Here's what their finances look like ahead of day two.
Despite having limited salary-cap space entering free agency, the New York Islanders made two moves on Monday. Here's what their finances look like ahead of day two.
Despite having limited salary-cap space entering free agency, the New York Islanders made two moves on Monday.
First, they retained defenseman Mike Reilly on a team-friendly one-year deal worth $1.25 million.
The 30-year-old was one of the best under-the-radar transactions in 2023-24, as his game fit Patrick Roy's system to a tee.
He's likely to line up alongside defenseman Scott Mayfield, who missed 41 games last season with a fractured ankle.
The Islanders made one more move after inking Reilly, as they signed speedy forward Anthony Duclair to a four-year deal worth $3.5 million annually.
Duclair played his junior hockey for Roy with the Quebec Remparts and cited that Roy was the reason the 28-year-old winger is Long Island bound.
During his Monday media availability, he spoke glowingly about his old-new head coach, citing that "when a coach calls you and tells you he wants you on his team, it's hard to say no, especially when it's Pat."
As of now, Duclair's off-the-rush speed makes him the prime candidate to start the season alongside Bo Horvat and Mathew Barzal on the Islanders' top line.
Starting the day with $5.8 million in cap space, the Islanders ended the day with $900,000 in cap space.
But that's not a true indication of the Islanders' financial situation, at least for now.
On Sunday, the Islanders sent out five qualifying offers, but let's focus on the ones who played NHL games last season.
Oliver Wahlstrom's qualifying offer ($917,831), Simon Holmstrom's qualifying offer ($874,125), and Ruslan Iskhakov's qualifying offer ($813,750) total $2.61 million.
Those players haven't accepted their QOs just yet, with the deadline for that on July 15.
Wahlstrom and Iskhakov are both arbitration-eligible, and it would not be a shock if either filed. But Wahlstrom's injury and his struggles to get back to form and Iskkaov's playing in just two NHL games give neither leverage in front of an arbitrator.
If a player files for arbitration, that will open up a second buyout window as a last resort to become cap complaint before the start of the season.
It's incredibly likely that Wahlstrom will no longer be on the roster in the fall, as general manager Lou Lamoriello said following Day 2 of the NHL Draft that if there's an opportunity to move him, they will, but not for free.
Maybe he's an add-in to a future trade.
One would think that Iskhakov could have a fighting chance to make the NHL roster because he has nothing really left to prove in Bridgeport after back-to-back All-Star seasons.
But, financially, the Islanders only have room for one of the three RFAs, a spot that would likely go to Holmstrom.
If Holmstrom does accept his QO, the Islanders will have around $186,000 in space.
They'd also only be able to roster 22 men instead of 23.
Things can change over the next few months.
During the offseason, teams can go over the cap by 10 percent, $8.8 million, so this doesn't mean the Islanders are done adding.
Lamoriello did not address the media on Monday night, which likely means he's still working to bolster the club after a successful Day 1.
Shedding salary cap is hard enough. It's much more difficult when teams know just how much has to be cut, as they have all the leverage in trades.
It's more than likely that if the Islanders are going to add to the roster, that new player will come via a trade, as we don't see Lamoriello going over the cap to sign any of the remaining free agents—especially given the high annual values on most of the deals signed.