Take It To The Limit - Canes and the Salary Cap
by Bob Wage on Jun 25, 2008 1:57 AM EDT
11 comments
The Carolina Hurricanes roster is starting to take shape, and it's not a pleasant sight for the Bank of Karmanos. With the recent signings of Tim Gleason and Tuomo Ruutu, the total number of possible, (or probable) roster players under contract is up to 18 at the present time.
Let's take a closer look.
The following numbers are actual out of pocket salary amounts for the coming season. (We will examine the salary cap hit at a later time, which is just a bit different).
- $5,000,000 Staal
- $4,000,000 Cole
- $4,000,000 Brind'Amour
- $3,550,000 Whitney
- $3,500,000 Williams
- $2,800,000 Cullen
- $2,750,000 Corvo
- $2,500,000 Walker
- $2,500,000 Ward
- $2,300,000 Samsonov
- $2,250,000 Ruutu
- $2,200,000 Kaberle
- $2,000,000 Gleason
- $1,750,000 Wallin
- $1,100,000 Eaves
- $850,000 Sutter
- $600,000 Leighton
- $510,000 Borer
___$44,135,000_____
The total expense for those 18 players is just over $44 million. That doesn't count the buyout amounts for Hamilton and Tanabe which would bring the total well up over $45 million.
Last year, Carolina started out with a self-imposed cap of about 46 million, and reportedly they wanted to keep close to that amount again this year. But that doesn't seem possible right now without some savvy trading or an influx of cheap, young talent.
The goaltending situation is all set. (contrary to what Eklund thinks, the Canes will not be adding Ray Emery)
There are 5 defensemen with NHL experience under contract presently, (in bold above), and that includes the promising, but unproven Casey Borer. At least 2 more blueliners need to be signed, or acquired via trade.
Currently there are 11 forwards under contract, not counting Trevor Gillies who played in Albany last year. It seems like Carolina's management isn't counting on Gillies to make the roster because of the recent attempt to sign Darcy Hordichuk to the enforcer position.
In my opinion, they should be in the market for two more inexpensive fourth line players. (Chad LaRose, where are you?)
Maybe they could fill the positions with a Zach Boychuk or Drayson Bowman, but those players will not make the Canes any tougher and Carolina would probably like more experience anyway.
Anyway you slice it, they need to sign at least 4 more players which will probably put them ever so close to that $50 million mark, out of pocket.
While the league wide salary cap is supposed to be increased to $56 million this year, there is no way in the world that the Carolina Hurricanes will "take it to the limit", even if I did give that title to this article.
It would be surprising if they agreed to hit $50 million.
What does all this mean? As much as everyone would love to see one of the few, highly sought-after free agent defensemen brought in here, I don't see it happening. The Hurricanes don't have it in their budget to get into a bidding war over John-Michael Liles or Mark Streit, no matter how good they would look in red.
Of course the plan is to trade one of their high priced forwards, but even if they do that they will probably be replacing that forward with a defenseman of similar salary. No team is going to trade a promising player with a low salary for the 4 million dollar expense of Erik Cole. These types of trades are usually close to dollar for dollar because of the salary cap.
Another problem with trading Erik Cole is that he only has one year left on his contract. Why would Vancouver trade Kevin Bieska for Cole, when their defenseman is under contract for three years, and they could lose Cole after just one?
I'm sure that the Canucks are asking for an additional forward in the deal as well, someone with a lower salary like Patrick Eaves or Tuomo Ruutu. As much as Jim Rutherford would hate to do that, he may eventually have no choice.
Or, he may have to end up trading Justin Williams, simply because Justin's contract is more favorable.
The Edmonton Oiler's Joni Pitkanen isn't even signed yet, so he's a different problem altogether. How tough would it be to make a trade for the talented Finn, but then not be able to sign him afterwards? Pitkanen could always decide to play in Finland for a year. That would be a disaster.
What's a General Manager to do?
One thing is for sure. The defense can not stay the way it is, and it needs more than a couple of cheap band-aids in order to be successful in the coming season.
There is yet another possible scenario. Carolina could trade a forward, (Erik Cole), for draft picks or a prospect, (maybe to Dallas, a team who expressed interest and has room within their salary cap). That move would clear four million dollars off of the books, then the Canes could use those funds to sign Liles or Streit.
If they use that strategy though, they will need to move fairly quickly. Usually once July 1st hits, all hell breaks loose in the market. The most highly sought after free agents don't stay "free" for very long.
It wouldn't be surprising to see either Anton Babchuk or Mike Commodore, or maybe even both back in Raleigh this fall. Either that, or maybe Glen Wesley will come out of retirement for one last hurrah? (just joking Glen!)
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Well written, and very insightful. Gives us all a lot to think about.
I would hate to be JR right now. His decisions over the next 2 weeks will either make or break this team this season and the few to follow.
by packpigskinfan25 on Jun 25, 2008 2:16 AM EDT reply actions
I know Karmanos does not want to lose money, but couldn’t you attract more fans by having a better team (bring in some "superstars"), therefore making the money back.
by Canesrdabest on Jun 25, 2008 10:16 AM EDT reply actions
How can you be competitive at 10mil under cap?, and in turn, how can you make money when your not competitive? Imagine if JR announced we’d be taking it all the way to the cap? If he announced that today can you imagine your post for tomorrow?? All the possibilities!?
by TylerA on Jun 25, 2008 10:16 AM EDT reply actions
Remember, Karmanos said he was going to take a more hands on approach. It is HIS bottom line at stake, and I’m sure that he and JR will do what they can to make the ‘Canes competitive. I’m sure he wants to make sure that owner in Detroit sees the Hurricanes hoisting the cup again – and again. He also wants to do it in a smart way.
Bubba- again, you’ve outdone yourself. That is why I read this blog all the time. These numbers and explanations give a new understanding to what impedes GM’s and the choices they have to make. I think that he’ll stand pat and see what the market does, and then go in for the kill when he sees something develop to his advantage / liking. Like a shark, that Rutherford.
by marc on Jun 25, 2008 10:39 AM EDT reply actions
Thanks for breaking it down. Great stuff!
by hotchips-n-salsa on Jun 25, 2008 12:53 PM EDT reply actions
Thanks for the comments all. I would like to add that I don’t think that it’s a good idea for any team to spend right up to the cap limit. It’s always wise to leave a little room for flexibility in case of injuries or the like. But it sure would be interesting to see the Canes break over the 50 million dollar mark, and pick up one of those highly sought-after free agent defensemen.
I would just be very surprised if they did that.
Imagine keeping all of the present forwards, plus having an above average defense? That would be one tough team to play against.
by Bubba on Jun 25, 2008 2:25 PM EDT reply actions
Bubba, Which defense do you think the canes are eyeing? I would love to see Brian Campbell come to Carolina, How about Wade Redden? John-Michael Liles? even Kalnin is not that bad
by Canesrdabest on Jun 25, 2008 2:56 PM EDT reply actions
Campbell wants(and will get) way more money then he deserves. Kalinin would be a good fit, but Liles is my personal choice.
by packpigskinfan25 on Jun 25, 2008 4:08 PM EDT reply actions
CRdabest-
I honestly don’t know who they are eyeing.
But, if I had to make a guess I would think that they would prefer to add a higher level defenseman using a trade, rather than by free agency.
If they add someone by free agency, players like Redden, Campbell, and even Liles would be too expensive, unless they relieve salary in some other manner.
I do think they will pick up someone on or after July 1st, but the player will probably have to be signed at 2 million or under per year. That’s why I keep bringing up Commie’s name. Not that management is dying to have him back, but he would probably be affordable.
hey, I have been wrong before though. It would be great to have Liles here, no doubt, or Campbell as well. I just don’t see the available money to do it.
Kalinin is a possibility if he doesn’t go for too much money.
by Bubba on Jun 25, 2008 4:29 PM EDT reply actions
if the hurricanes go to the free agency for d and no more d get sighined who do you think we will get
by canescup on Jun 25, 2008 5:23 PM EDT reply actions
I’ll make a posting about that in a day or two :-)
by Bubba on Jun 25, 2008 6:06 PM EDT reply actions
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