EXPLAINING, EXAMINING, NHL FREE AGENT FRENZY

When the clock strikes noon, money will be thrown like crazy … as usual.

Even with the salary cap being set lower than many general managers expected and hoped for at $69 million and what’s considered a shallow pool of top-end players available, this unrestricted-free-agent period figures to follow the familiar script of teams bidding up prices to keep up with each other.

“You have to be prepared rightly or wrongly to overspend and to give more term than you probably would want to,” Boston Bruins GM Peter Chiarelli said on a conference call last week. “That doesn’t mean you don’t make a good deal, it’s just the deal is probably pricier than you would like.”

Bad contracts of years past are being revisited now as they’re bought out, like the Buffalo Sabres getting out from the rest of Ville Leino’s deal or the New York Rangers having little choice but to cut ties with Brad Richards. Last year’s madness included Mike Ribeiro getting $22 million over four seasons, and last week he was bought out.

“It is a time where I think the day after some of these contracts are signed, people go, ‘Hmmm,’ and sit back and think,” Winnipeg Jets GM Kevin Cheveldayoff said last week in Philadelphia. “That’s the age we’re living in. That’s the nature of it.”

The teams that sign winger Thomas Vanek, centre Paul Stastny, defenceman Matt Niskanen hope their investments prove more sound. Those three players lead the crop, followed by wingers Matt Moulson and Jarome Iginla, centre Dave Bolland, defencemen Christian Ehrhoff and Dan Boyle and goaltenders Ryan Miller and Jonas Hiller.

Already, before teams are free to sign players at noon Tuesday, over $1.1 billion has been spent to retain potential unrestricted free agents at an average cost of $3.57 million, according to CapGeek. Many of the top free agents will get more money than that on an annual basis, just based on the market value.

Still, Chiarelli believes it’s possible to spend smart money in free agency.

“As long as the expectations are in place and you know the player that you’re getting, I wouldn’t necessarily call it a bad deal,” he said. “It may be in five years if it is a bad deal, but it is something that can help your team and you just have to be cautious of the hysteria that happens.”

The hysteria started early this year thanks to the new five-day window teams and pending unrestricted free agents have to talk before deals can get signed. They’ve been free to discuss fits and salary parameters, just not agree verbally or in principle.

It seems to have given players more leverage than before because they can consider options rather than make a quick decision on July 1. For teams, the negotiating period is still a work in progress.

“It’s useful in that you can lay some plans and some groundwork,” Toronto Maple Leafs GM Dave Nonis said last week in Philadelphia. “Whether it helps in getting players in or not, I think that remains to be seen.”

Compliance buyouts have also changed the landscape, pouring more players like Richards, Ehrhoff, ex-Vancouver Canucks winger David Booth and ex-New Jersey Devils defenceman Anton Volchenkov into the market. Those players can double-dip on pay cheques, while their former teams can allocate the saved salary-cap space elsewhere.

The Buffalo Sabres have the most cap space, according to CapGeek, with almost $39 million. They need to spend more than $20 million just to get to the $51-million floor.

First-time GM Tim Murray isn’t worried about needing to get to the floor, nor is he scared of the perils of free agency.

“I don’t think it’s dangerous. I go back to my old cliche: evaluate properly and it’s never dangerous,” Murray said Saturday in Philadelphia. “If you fall in love with the flavour of the week, it could be very dangerous.

“But do your homework. Evaluate players properly. Go after the right players, which doesn’t mean it’s the top guy on somebody else’s list. It’s who you feel is the right guy.”

The negotiating window has shed some light on the idea that some guys are wanted by a lot of teams. Niskanen’s agent, Neil Sheehy, said in an email that more than 10 teams had shown interest in the 27-year-old defenceman and that they were planning to pare down that list before Tuesday.

That’s a task many of the top free agents and their representatives have been going through because it’s still very much a players market.

“It’s kind of the double-edged sword,” Cheveldayoff said. “You’re trying to find pieces that can maybe push you and the different depths of the free agent market in different years entices you or maybe doesn’t excite you.

“But it’s a way to add and if you can do it reasonably and maybe someone fits in your organization and maybe it becomes a long-term thing. You have to take a look at that regardless of the dollars.”

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Here’s a look at what the NHL’s seven Canadian teams need as free agency begins at noon on July 1, with salary-cap estimates courtesy of CapGeek:

TORONTO MAPLE LEAFS

Cap space: $23.6 million

Unrestricted free agents: C Dave Bolland, LW/RW Nikolai Kulemin, LW Mason Raymond, C Jay McClement, D Paul Ranger, RW Troy Bodie, C Leo Komarov, C Trevor Smith, G Drew MacIntyre

Restricted free agents: G James Reimer, D Jake Gardiner, D Cody Franson, RW Carter Ashton, LW Jerry D’Amigo

Biggest needs: Centre, bottom-six forwards, backup goaltender, right-handed-shooting defencemen

Outlook: President Brendan Shanahan and general manager Dave Nonis should be busy as a healthy amount of roster turnover is expected. Four of the top-six forward spots are filled by core players (Phil Kessel, James van Riemsdyk, Joffrey Lupul and Tyler Bozak) and Nazem Kadri is signed for one more season, but after that there isn’t much up front. Bolland is someone the Leafs like, but not at the salary he’d like to attract as one of those much-desired hard-working pieces of a winning team. If he gets a payday elsewhere, Toronto will be forced to debate external versus internal replacements. Shanahan and Nonis wanting the Leafs to play a different way under same coach Randy Carlyle is a wild card, so it’ll be fascinating to see the off-season unfold.

MONTREAL CANADIENS

Cap space: $17.4 million

Unrestricted free agents: LW Thomas Vanek, RW Brian Gionta, LW George Parros, D Francis Boullion, D Douglas Murray, D Mike Weaver, F Ryan White

Restricted free agents: D P.K. Subban, C Lars Eller

Biggest needs: Top-six winger, size, depth defencemen

Outlook: The Habs are taking a no Vanek, no panic approach to July 1, bidding adieu to the inconsistent yet talented scoring winger who will likely either get a long-term, big money deal or sign with the Minnesota Wild. A deadline acquisition for just a second-round pick and prospect Sebastien Collberg, Vanek helped Montreal to the Eastern Conference final but found himself on the fourth line late in the run. If Gionta departs, the Habs will need a new captain from its current roster, but P.A. Parenteau _ acquired Monday from the Avalanche for Daniel Briere _ could fill his spot. Josh Gorges’ trade situation will make for even more turnover on defence, which could be very young next season with kids like Greg Pateryn, Nathan Beaulieu and Jarred Tinordi filling spots. Getting face-of-the-franchise Subban locked up to a long-term deal, though, remains GM Marc Bergevin’s biggest task of the summer.


VANCOUVER CANUCKS

Cap space: $17.7 million

Unrestricted free agents: F Mike Santorelli, D Andrew Alberts, F Jordan Schroeder, F Zac Dalpe

Restricted free agents: C Linden Vey (acquired from Kings at draft), LW/RW Zach Kassian, D Chris Tanev, D Yannick Weber

Biggest needs: Starting goaltender, defencemen, youth

Outlook: With the makeover well underway in Vancouver, the Canucks are in a weird spot wanting to build back up around young players but not ready to call it a “rebuild.” GM Jim Benning has already gotten rid of centre Ryan Kesler, fetching Nick Bonino, defenceman Luca Sbisa and a first-round pick from the Anaheim Ducks, but it’s unclear how many more veterans want out. The climate of change is exciting for young players who crave opportunity, but will it be attractive to prospective free agents? Goaltender Ryan Miller has a previous relationship with Benning from Buffalo, and his destinations might be so limited by a lack of open jobs that Vancouver makes the most sense for the 33-year-old.

OTTAWA SENATORS

Cap space: $16.5 million

Unrestricted free agents: RW Ales Hemsky, LW Milan Michalek, F Matt Kassian, D Joe Corvo

Restricted free agents: G Robin Lehner, F Stephane Da Costa

Biggest needs: Top-six wingers, depth forwards, Jason Spezza trade

Outlook: There won’t be any shockers to the level of Daniel Alfredsson leaving this summer for the Senators, but his stated concern about this team not being on the cusp of winning a Cup is more true now than it was then. A rough season has led to more questions than answers for a team with a Jack Adams Award-winning coach in Paul MacLean and some legitimate offensive talent in Bobby Ryan and Erik Karlsson. Filling the holes around it will be GM Bryan Murray’s job as he also seeks to find a taker for Spezza, his captain who has asked out of Ottawa and has a year left on his contract. Clearing Spezza’s $7-million salary would open the Senators up to do some shopping, whether that means re-signing Michalek or bringing in capable replacements for him and Hemsky.

EDMONTON OILERS

Cap space: $20.1 million

Unrestricted free agents: D Anton Belov, F Ryan Jones, F Ben Eager, F Steve MacIntyre, D Mark Fraser

Restricted free agents: D Justin Schultz, D Jeff Petry, F Luke Gadzic

Biggest needs: Top-nine forwards, puck-moving defencemen, size

Outlook: Sunday night’s trade of Sam Gagner to the Tampa Bay Lightning for winger Teddy Purcell got proceedings going for the Oilers, who could have a different mix around the core of Ryan Nugent-Hopkins, Taylor Hall and Jordan Eberle as they seek to end a seven-year playoff drought. GM Craig MacTavish has gone on record as saying he’d like to add a puck-moving defenceman _ who wouldn’t? He also wants top-nine players who can fill roles and allow Matt Hendricks and Boyd Gordon to slide down to the fourth line, where they’re strong fits. Drafting Leon Draisaitl fills two major needs _ a second-line centre and more size _ but Edmonton might have to hedge in case the 18-year-old German isn’t ready. On the trade market, MacTavish thinks the Oilers can use their salary-cap space to pick up some more expensive players but without giving up too much in return.

CALGARY FLAMES

Cap space: $29.7 million

Unrestricted free agents: C Mike Cammalleri, D Chris Butler, G Joey MacDonald, D Chris Breen, F Kevin Westgarth, F Blair Jones, F T.J. Galiardi, F Paul Byron

Restricted free agents: C Joe Colborne, F Lance Bouma, G Joni Ortio

Biggest needs: Goaltender, big, young forwards, depth defencemen

Outlook: Still in the early stages of a rebuilding effort, the Flames can start to take the form wanted by president of hockey operations Brian Burke and GM Brad Treliving. That means bigger players up and down the lineup to build around Monahan. After trading Reto Berra to Colorado at the deadline, the Flames are either in the market for a backup to Karri Ramo or someone who might fit in a 1A/1B situation. If Treliving and his staff remain committed to a long-term building project, July 1 might not be too active as other teams shell out big-money contracts.

WINNIPEG JETS

Cap space: $18.3 million

Unrestricted free agents: C Olli Jokinen, RW Devin Setoguchi, G Al Montoya, F Chris Thorburn, F Matt Halischuk, D Keaton Ellerby

Restricted free agents: RW Michael Frolik, C James Wright, G Michael Hutchinson

Biggest needs: Centre, right-wingers, goaltender

Outlook: July 1 is another barometer of how the Jets will lean, between fans’ impatience over three years without playoffs since moving to Winnipeg and GM Kevin Cheveldayoff’s calm approach. Not one to swing for the fences, Cheveldayoff said he’d look for opportunities to strike in free agency, but it’d be surprising to set the Jets make a big splash. If Jokinen and Setoguchi don’t return, Winnipeg will need to fill significant holes up front. Hutchinson is considered a strong bet to be Ondrej Pavelec’s backup goalie and potential future starter. If the organization feels he needs more time, trading for James Reimer or signing another goaltender would make sense.

(Canadian Press/Stephen Whyno)