The Hockey Rabbi

The Kaspar Quandry (VERY IMPORTANT UPDATE AT THE BOTTOM)

So Darius Kasparitis shows up at camp some 20 pounds lighter and ready to blaze a comeback trail to New York.  That would be great news if it weren't for that little thing called the salary cap!  With almost no room left under the all important cap the Rangers can ill afford to retain Kaspar and his nearly $3 million annual salary.  So what's a team to do?  Trade him?  Send him to Hartford? 

OPTION #1:  TRADE HIM:

The easiest thing for Slats to do would be to trade Kaspar.  Move him for whatever the team could get.  However, this option is probably unlikely: Kaspar missed all of last season.  He reportedly came to camp out of shape which apparently had something to do with personal issues he was dealing with at the time.  Given his age and his salary, it's unlikely an NHL club would be willing to take a risk on him.  In today's day and age, $3m is too much money to spend on an old d-man who missed a season due to personal problems.

OPTION #2:  SEND HIM TO HARTFORD:

Many observers are predicting that this scenario is likely to materialize.  I'm not so sure!  After struggling to read through the relevant parts of the C.B.A. (which is no easy task!) it appears as though section 50.9(g)(ii) sets forth that if a player like Kaspar is sent to the minors he must first clear waivers.  Any NHL club may then claim him off of waivers.  The claiming club would only be responsible for 1/2 of his salary while the Rangers would be responsible for the other 1/2 (and, of course, the 1/2 that the Rangers would be responsible for would count against the teams cap charge this season). 

At almost $3m per season, Kaspar's probably not worth the risk to many NHL clubs.  However, at just under $1.5m per season, Kaspar may very well be worth it.  Let's not forget that Kaspar is in the final year of his contract.  Therefore, a claiming club would only be taking a short term and relatively "cheap" risk. 

Then there's the Oiler$ factor:  Krazy Kevin Lowe targeted Dustin Penner in Anaheim in part because he knew the Ducks had cap issues.  If the Ducks matched the offer sheet, Lowe would have successfully financially handcuffed one of his rivals.  If the Ducks failed to match (which is what actually happened) the Oiler$ would have successfully obtained their desired player.  A no lose situation for The Krazy One.  Guess what folks, the Rangers have cap issues of their own.  They passed on Peca because they felt that the $1-1.5m he would have cost was not worth the risk.  Would anyone be shocked to see a rival club like the Icelanders claim Kaspar just to stick it to the Rangers?  How about the Devils who are surely still feeling the sting from the Scott Gomez defection.  A rival GM with cap room could certainly see the Kaspar situation as a no lose situation:  if Kaspar rebounds he's well worth the $1.5m for just one season, if he doesn't rebound...well....it was just $1.5m for one season a worthwhile investment considering that it contributed to the hated Ranger$' cap concerns. 

Surely, Slats & Co. are aware of this possibility.  That's why it wouldn't surprise me at all to see Malik or Mara get traded if Kaspar looks ready to rejoin the big club.   

**UPDATE** Thanks to dimanyr for pointing out that the 50% cap charge would only apply if a team claimed Kaspar off of re-entry waivers (i.e. if the Rangers tried recalling kaspar from Hartford to the big club).  I e-mailed John Dellapina to ask him to clarify this point and, as usual, John kindly responded almost immediately.  According to John, the Rangers would only be on the hook for 1/2 of Kaspar's salary if he was claimed off of re-entry waivers.  Sorry for the confusion and thanks to dimanyr and John Dellapina (Rangers' beat writer for the NY Daily News.  Check out the link to John's blog in my blogroll!).    

SIGNING ALERT: DUCKS LET PENNER WALK! (UPDATED)

TSN .CA reports that the Ducks have decided not to match the ridiculous offer sheet the Oiler$ have given the power forward.  Click here for more info.

In New York Rangers news:  Sam Weinman reports that the Rangers have officially locked up 19 year old prospect and centerman Artem Anisimov.  Click here for Sam's post.

SIGNING ALERT: PENS EXTEND CROSBY"S CONTRACT

TSN is reporting that the Pens have signed Sid The Kid to a 5 year $43.5m contract.  The contract will begin after this season and will keep Crosby in Pittsburgh through the 2012-13 season.  Looks like the Oiler$ will have to find a new strategy for next summer!

Like I said in Part II of my ongoing analysis of the Gomez/Drury signings, I don't expect too many of these types of players to hit the open market.  The only exception is for players who want to change locations. 

The Oiler$ Did What?

You can file this one under "Stupid G.M. Tricks"!  Kevin Lowe and The Edmonton Oilers signed Thomas Vanek of the Buffalo Sabres to a seven year $50m+ Restricted Free Agent Offer Sheet!  Buffalo obviously matched the offer immediately.  I've got so many issues with this signing I don't even know where to start!  Let's narrow it down to a few items:

     I.  Vanek is an excellent young player but he's not worth the money:

Vanek was Buffalo's 1st selection (5th overall) in the 2003 NHL Entry Draft.  In 2004-05 he scored 42 goals in 74 games for Rochester of the A.H.L.  Definitely an impressive season for the then first year professional.  In 2005-06 he made his NHL debut for Buffalo and scored 25 goals and 23 assists for 48 points in 81 games.  He was, however, a -11 in his rookie NHL season.  All in all, it was a very promising debut for the young forward listed at 6'2" and 208 pounds.  In the playoffs that year he only dressed for 10 of Buffalo's games, scoring a whopping two goals (both on the power play) and going -1.  Then came his breakout season, 2006-07, he scored 43 goals and 41 assists in 82 games for Buffalo.  His +/- soared to a +47.  In the playoffs he appeared in 16 games for the Sabres notching 6 goals and 4 assists for 10 points, while going +1.  Not exactly overwhelming playoff numbers.  Those are his credentials.  2 seasons, that's it!  After years in the NHL compiling that lengthy resume (tongue firmly planted in my cheek!), Edmonton decides to pay the guy "Franchise Player" money.  Don't get me wrong, I like Vanek as a player.  Even though it's way too early to be sure, he definitely looks like the real deal.  But after putting together 1 forty goal season and zero impressive playoff performances, what the heck was Edmonton thinking?  What if the guy's numbers were inflated because he plays for the league's most offensively oriented club?  He's not the go to guy in Buffalo, he hasn't been around long enough to prove that he can actually play that role, why would anyone pay him "go to guy" money when he hasn't been around long enough to prove he's worth it?  He's not Sidney Crosby or Alex Ovechkin.  I just don't get it.  The next point is even worse:

     II.  The Oilers' predatory signing has upset the salary balance within the league: 

I know I'm a Ranger fan, so don't laugh at this point!  Even though conventional wisdom has it that the Rangers have driven salaries out of control over the years, that's simply doesn't paint the full picture.  The Rangers have traditionally targeted Unrestricted Free Agents.  The contracts they sign these players to do not count as comparables in salary arbitration.  When a young player goes to arbitration to try to land a bigger contract he can't point to the Bobby Hoilk contract as a comp.  Everyone knows that UFA contracts are inflated, it's supply and demand: only a few free agents with a lot of interested clubs.  A contract signed by a Restricted Free Agent however, can be used as a comparable in salary arbitrations (and regular contract negotiations for that matter).  What is Henrik Lundqvist worth now?  How about Sean Avery (his numbers don't come close, but he brings very important intangibles to the team)?  Zach Parise in Jersey?  The list goes on and on. 

The problem is compounded because of the salary cap.  If the salaries of young players are not kept at reasonable levels, it will be impossible to dress a deep well balanced lineup.  In today's NHL it's impossible to dress a lineup full of top shelf UFA's.  They're too expensive.  Teams must build with good young players still earning reasonable salaries and add the right mix of UFA talent.  Anything else is too expensive and unworkable.  If the young players (who do not yet have the leverage of UFA's) start getting paid UFA money, it will be impossible to dress a competitive well balanced team.    Make no mistake, Kevin Lowe and the Edmonton Oilers have assaulted this balance. 

     III.  Isn't it ironic?

The Oilers (or should we call them the Oiler$?!?) have been one of the small market franchises that have allegedly struggled to compete against the big boys.  Their payroll was always low.  They could never spend money on talent.  They constantly traded away developing young players once those players commanded higher salaries.  They couldn't even bridge the gap between themselves and Ryan Smyth leading to his tearful departure from Edmonton (so sad).  Now all of a sudden, they've got some money to spend.  The problem is that not only were they unable to spend it, they actually shot themselves in the foot trying.  What will the Oiler$ do when one of their Restricted Free Agents takes them to arbitration and gets awarded a huge pay day with the Vanek contract cited as a comparable?  They'll probably accept it.  Why?  Because maybe just maybe the lock out wasn't really about salaries and available funds, maybe just maybe it was really about increasing the values of each franchise.  All that bickering about the big market clubs like the Rangers was possibly nothing more than posturing.  It's even more ironic when you consider that Krazy Kevin Lowe a/k/a Kaptain Small Market Suffering Franchise, abandoned these same Oiler$ in order to sign for bigger bucks with the the Rangers.  Then he bemoans the fact that current players do the same thing.  THEN, he goes and attacks the balance of salaries in the NHL ENABLING players to do the same thing.  It's enough to make your head spin.

     IV.  Never act out of desperation:

I've said it once and I'll say it many more times, sports is a microcosm of life.  Just like in life, desperation moves rarely if ever pay, so too in sports.  As a transactional lawyer I do a lot of negotiating and "deal making".  I've seen people make desperate moves far too often.  Those moves almost always come back to bite you in the behind.  The bottom line here is that the Oiler$ probably acted out of desperation.  They were willing to spend money (surprise, surprise!) and they still came up empty.  For some reason, people don't want to play in Alberta.  Go figure.  To make matters worse this is only one year after Chris Pronger left town after a trip to the finals.  The guy didn't even want to stay on a successful Edmonton club!  To make matters even worse, Krazy Kevin thought he landed Nylander only to find out that he was left at the alter once Washington stepped in.  I even read a report (although I can't remember where and, therefore, can't verify the authenticity) that Nylander signed with the Caps for less than the Oiler$ were going to pay him.  Ouch!  So Krazy Kevin goes and sticks it to the hockey world by signing the battle tested superstar Thomas Vanek to a $50m contract.  I can't imagine that this move will be popular with the rest of the teams in the league.  Even Philly didn't pull a stunt of this magnitude!   Will Krazy Kevin suffer the ramifications of this move when the Oiler$ finally cut him loose?  Will owners hold this move against him the next time he's interviewing for a job?  Neil Smith is still looking for work as an NHL G.M. after being branded a salary inflating predator.  What goes around often comes around.  Stay tuned!