We Could Use a Few Signings, Couldn't We?
These are salad days for salaries in the NHL. Yesterday came word that the salary cap for 2008-09 would rise to $56.7 million, with a salary floor ($40.7 million) higher than the league's cap just back three seasons ago, in the first post-lockout regular season. Stunning. As the salary cap is directly linked to the league's revenues, which are directly linked to its gate receipts, it's seems clear that a few folks other than Tiger Woods and Tony Kornheiser are interested in hockey.
Meanwhile, there remain outstanding -- unsigned -- some necessarily expensive parts to 2008-09 for the Washington Capitals. The tally: Christobal Huet, Brooks Laich, Shaone Morrisonn, and Mike Green. Boyd Gordon and Eric Fehr need new deals, too, but I don't imagine those will be that expensive. Right now both Matt Cooke and Sergei Fedorov look like salary cap casualties, luxuries likely unaffordable in '08. Since I last wrote about matters financial Capitals' GM George McPhee has managed to sheer off about $2 million in payroll for next season by dealing Steve Eminger to Philadelphia and buying out Ben Clymer. (Ray Shero's fruitless negotiations with Marian Hossa this month apparently have sheared off $7-8 million from the Penguins' payroll for next season.)
However, it's beginning to look like McPhee will need that $2 million to pay Mike Green just in the autumn portion of the calandar next season.
Ah yes, Mike Green. For the congenitally white-knuckled of Caps' fans, his breakout season in 2007-08, combined with apparently every name New York Ranger leaving Broadway, portends his departure and the swift end of hockey's renaissance in Washington. But count me among those who think it far from a certainty that Green's gonna attract a bevy of offer sheets next Tuesday.
For one thing, as great as his game looks, Green's had only one big-number season, and the price in first-round draft picks for signing him would be exorbitant (as many as five). Additionally, both the owner and the general manager are on record stating that the club will match whatever offer comes Green's way. For another, offer sheets for restricted free agents (see Tomas Vanek) are in a very real sense one GM's performing labor for a colleague. Lastly, Green, though a young and inexperienced great talent just as Dustin Penner was last summer, is a primary building block for a contending Caps' club. Penner wasn't last summer, nor is he today, one of the 50 best forwards in the NHL. Penner's was a stupid contract conceived by a stupid GM. Brian Burke allowed stupidity to reign supreme for a moment, but his Ducks won't soon be looking up at the Oil in the standings.
In Green the Caps know what they've got -- an already impressive no. 1 rearguard whom they were awfully lucky to nab with a 29th pick in the '04 draft, one who has a great deal of progression and maturity ahead of him. Likely, too, Mike Green also knows what he's got in D.C., and specifically in Bruce Boudreau's system: the green light to pile up points for a really big deal around the time he's in his prime.
Mike Green will get signed alright. But it won't come cheap. In fact, Team Green may be pointing to Alexander Semin's 2009-10 salary ($5 million) and understandably if myopically bargaining that Green's of greater value to the team than Semin. In an ideal world, Team Green would acknowledge the client's youth and inexperience and appreciable development still ahead and ask to be made the team's highest paid defenseman . . . but not like say Anaheim's best defenseman.
Few however imagine ideal worlds with attorneys and player agents in them.
Speaking of interesting contracts, remember that "home team discount" deal Sidney Crosby signed? It will pay him $7.5 million in 2013. The thinking here is that Sidney will be a pretty good hockey player in 2013, when he's still not yet 30 years old. Do you know how many NHLers will be earning more than $7.5 million then? (Mike Green might well be one.) One of them will be Vinny Lecavalier, according to ESPN. Indeed, as early as 2009-10, Crosby may not even be the highest paid Penguin. The intrigue with the Penguins never ends.
Given the number and prominence of Capitals' restricted free agents, this wasn't supposed to be an easy summer of negotiating for GMGM. It was made tougher by the breakout seasons by Laich and Green, as well as Morrisonn's emergence as a top-pairing performer. And while last weekend was filled with the promise of securing hockey's future, this one is about placating the present. It's messy but necessary business.
It's a time to be anxious but not a time to be pessimistic.
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