The Canucks Cap Crunch

The Problem

The Vancouver Canucks have dipped into the free-agent pool as of late, tying up large portions of their cap space into free agents. Signings such as Loui Erikkson, Jay Beagle, and Antione Roussel, and Tyler Myers come at a cost of $18 million a year, approximately 22% of their cap space for a trio of bottom-six forwards and a middle pairing defenseman. Now with 11 players ending this seeing as either UFA’s or RFA’s General Manager Jim Benning will have to work some magic to keep his team competitive.

With approximately $59 million of Vancouver’s cap already tied up and an expected salary cap of $86 million, Benning will have about $27 million to work with next season.

The Numbers

Forwards

*denotes RFA

Coming off the books this season are:

Tyler Toffoli - $4,375,000

Josh Leivo - $1,500,00

Jake Virtanen* - $1,250,000

Tyler Motte* - $975,000

Adam Gaudette* - $916,666

Zack MacEwan* - $847,500

Defense

Chris Tanev - $4,450,000

Troy Stecher* - $2,235,000

Oscar Fantenberg - $850,000

Goalies

Jacob Markstrom - $3,666,667

Louis Domingue - $1,050,000

The Verdict

Forwards

Allowing Toffoli to walk in free agency will be tough for Canucks fans. Giving up a touted in Tyler Madden for so few games of Toffoli was unfortunate, but resigning him will put the Canucks in a real tight crunch. Continually the long jam of depth forwards in Vancouver puts prospects in a tough position, leaving Toffoli off the roster potentially opens a spot for a younger player; potentially Kole Lind or Nils Hoglander.

Resigning Leivo would make sense for the team at or below $2 million AAV. He produced well in a middle-six role but if he asks for more than he is worth, he is a replaceable player. Virtanen, Motte, and MacEwan are all RFA’s and make figures close to their value, I suggest resigning all at similar prices.

Adam Gaudette proved himself an NHL player and looks to be the future #3 center for the Canucks. However, in his limited role, I think the best option for both sides is a bridge deal around $2 million AAV.

Cost: By following these suggestions Vancouver would save about $2.5 million when compared to this season’s salary.

Defense

Resigning Chris Tanev is a no-brainer for the Canucks, sturdy right-handed defenseman are few and far between, but crucial for every team. But his aforementioned value comes at a cost and a contract worth $5 million is fitting for the Canadian defenseman.

If Stecher was left-handed I would say let him walk but it is hard to find a replacement for such value. Paying $2.5 million to keep him a Canucks makes sense, even if Rafferty may take his spot in the lineup come next season. Albeit, injuries occur and the Canucks will need Stecher next season.

No need to keep Fantenberg with prospects including Rafferty, Saunter, Juolevi, and Brisebois knocking at the door.

Cost: Vancouver will have to give Tanev and Stecher raises to keep them but will keep some money letting go of Fantenberg; essentially no loss or gain to the cap.

Goalies:

Markstrom has emerged as one of the better goalies in the NHL this season which saw him in his first NHL all-star game. He could easily ask for north of $6 million, so for this article’s sake, we’ll say $6.5 million AAV. Resigning Domingue would be pointless, but won’t save the Canucks any cap space because they wouldn’t be carrying three NHL goalies if it weren’t for the Markstrom injury.

Cost: Markstrom stellar play will cost Vancouver about $3 million on their cap.

All in all

These solutions will leave Vancouver with about $5 million in space heading into next season. And yes, they could use this money to sign Toffoli however it leaves no room for free-agent signings or potentially roster boost trades around the deadline that could be crucial for a playoff push.

It’s important to Vancouver to keep their forward RFA’s ensuring their depth in the midst of the season, especially once the team is battling the injury bug.

The right-handed defensemen, Tanev and Stecher, are much-needed pieces and are difficult to replace, hence, a pay raise is warranted in both cases.

Markstrom has played his way to a deserved lumpsum pay raise and Vancouver will up his contract to keep the all-star netminder.

The ‘nucks will be able to keep the core of their team together and keep insurance cap space of give or take $5 million for free agents or deadline deals.

Kevin King/Postmedia News

~Brandon Smith, BTH