Signing Shane Pinto: How the Ottawa Senators Might Find the Cap Space

We examine some decent options to alleviate Ottawa's cap situation and make some wild predictions.

The Ottawa Senators are in "a bit of a pickle." 

That's according to their new owner, Michael Andlauer, speaking on TSN 1200 Radio this week. As most are aware, the Senators still need to sign restricted free-agent centre Shane Pinto, but they are up against the salary cap with just $120,953 to spare. So the Sens need to shed a big chunk of salary to find room to sign Pinto.

According to TSN's Pierre Lebrun, “Pinto probably would sign something in the neighbourhood of $2.5 million per year over two years.”

The Sens have many options to alleviate their cap situation and here are some of the likeliest ones... along with some wild predictions.

Trade Mathieu Joseph

The Senators’ 26-year-old right-winger Mathieu Joseph has been the focus of trade discussions for fans and media all summer. This option would free up the cap space to sign Pinto, with Joseph making 2.95 million for each of the next 3 years.

Wild prediction: Philadelphia acquires Joseph and (as a sweetener) defensive prospect Lassi Thomson.

Thomson was a first-round pick in 2019, going 19th overall, but doesn’t look close to becoming an NHL regular for the Sens this year.

Trade Erik Brannstrom

Erik Brannstrom was a key defenceman for Ottawa last year and signed a one-year $2 million contract over the summer. The Sens could trade him, and instead of losing an asset like Lassi Thomson or a 1st round pick, they might acquire a pick.

Wild prediction: San Jose acquires Erik Brannstrom for a future asset – perhaps a third round pick.

San Jose has some draft capital and cap space and could take a flyer on Brannstrom. Ottawa would then spend the rest of their cap on Pinto, although the move would yield only bit over $2 million dollars to sign him. It would also be difficult for fans to see the remnants of the Mark Stone trade whittled down to a third rounder.

Trade Dominik Kubalik

Dominik Kubalik has scored 30 goals before and had 20 last year. He's a proven NHLer on an expiring $2.5 million contract and the Sens could use that to re-sign Pinto.

Wild prediction: Columbus acquires Kubalik for a future asset.

After the Mike Babcock debacle, Columbus needs distractions. They want to add. They have $4,729,167 in cap space according to Cap Friendly. They could boost their core of young forwards, while Ottawa gets a pick or a prospect.

Use Waivers

The Sens could try to waive Joseph along with prospects Parker Kelly and Jacob Bernard-Docker and see how much cap they could free up.

Kelly would yield $762,500 in cap space and Bernard-Docker $805,000 if both players cleared waivers and went to Belleville or if they were claimed by another team.

If Joseph cleared waivers, which is highly likely, and the Sens sent him down to the minors, Joseph’s contract would go from 2.95 to 1.825 (according to Puckpedia) and create an extra $1.125 million dollars off the cap.

If all this happened, the Sens would free up a bit more than 2.5 million dollars, which would might be enough to sign Pinto. However, it would mean keeping all three in the AHL.

For years, the Sens operated tens of millions of dollars below the salary cap. It is a new era with new ownership and a potentially contending team. The problem for GM Pierre Dorion is this: he's in a “pickle” no matter what he does. 

The NHL season is about to begin. It’s decision time.