
In the wake of a Pierre LeBrun report in The Athletic describing the contract negotiations between the Ottawa Senators and impending unrestricted free agent Claude Giroux as a "grind," an intriguing domino fell that could have an impact on the talks here in the nation's capital.
Jamie Benn, the 34-year-old captain of the Dallas Stars, agreed to a one-year contract this afternoon that is distinguished by its use of a bonus structure that the Senators could mirror in their conversations with Giroux.
According to Frank Seravalli, Benn will receive a $1 million base salary with up to $3 million in achievable bonuses.
The structure breaks down as follows:
The Stars' cap crunch is well-documented. PuckPedia lists the organization as having 10 forwards and eight defencemen signed with less than a million in cap space. State taxes be damned, the dollars are tight in Texas right now, and the organization is trying to make inroads where it can.
Having Benn sign a bonus-laden deal affords the organization some flexibility, as their captain signed for what is essentially the league minimum, with easily achievable bonuses that will count against the Stars' 2026-27 cap. The NHL announced this past January that the salary ceiling will increase to $104 million for the 2026-27 season, which will be more conducive to fitting Benn's bonuses in.
The Senators' cap situation is admittedly different than that of the Stars. Ottawa has $10.7 million in cap space with fewer constraints, assuming ownership and management are comfortable spending near the ceiling while affording themselves a bit of a cushion, thereby maintaining the flexibility needed to address the roster at various points throughout the season.
From the player's perspective, their individual motivations may differ.
Benn, who turns 36 years old in July, has spent his entire 16-year career with the Stars. His dual-purpose contract allows him to stay with the only organization he's known while simultaneously allowing the Stars to preserve their competitiveness and push the money owed to Benn down the road.
Conversely, the 37-year-old Giroux has only been with the Senators for three seasons. Although Ottawa is his offseason home, that bond between the organization and player is not as longstanding as Benn's. Knowing that, who knows what kind of guaranteed value Giroux is looking for on his next deal?
Despite their stylistic differences, their offensive production was quite similar.
Benn averaged three minutes less of ice time per game, however, so his all-strengths production rates were higher.
Interestingly, Giroux's production on the power play this past season dwarfed Benn's, but the real separation comes from the fact that Giroux averages two minutes more per game of shorthanded ice time than Benn. That, and the fact that the Senators struggled to score while playing at five-on-five, really hampered Giroux's production rates.
Where the Hearst product shines is on the defensive side of the puck.
Giroux won 61.5 percent of his faceoffs and was a valuable penalty killer for the Senators. At five-on-five, his defensive impacts are noticeable, and he does a great job of helping transition the puck from the defensive to offensive zones.

Benn, on the other hand, is a poor defensive player at this stage of his career.

Despite the concerns about Giroux being an aging talent and the potential for diminished returns, he remains a very effective player.
Is he the fastest player?
No, but he's not remotely close to being one of the slowest players on the roster.
He still adds a ton of value and offers some attributes that the Senators need. As easy as it is to say that the organization could reallocate the money that would go to Giroux, it is another thing entirely to enter the free agent or trade markets and find a player at his level or, ideally, one better.
Conversely, the clock is obviously ticking down to July 1 and the start of unrestricted free agency. As the hours and days pass, the level of concern for Giroux's future will heighten and understandably so. He is a likeable player and person, but management has earned some measure of patience. Through their actions and history, they have demonstrated a diligent and comprehensive approach to their personnel decisions.
Whether Giroux returns or not, there should not be any panic. If both parties want it to come to fruition, they will eventually work towards a resolution on a one-year deal. Alternatively, if Giroux ultimately decides to explore other offers, I would expect the organization to pivot and address his departure.
By Graeme Nichols
The Hockey News/Ottawa
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