Key Takeaways
- The NHL salary cap has risen to $95.5 million, yet not a single restricted free agent has received an offer sheet this summer.
- RG spoke to a player agent about the matter, who chose to stay anonymous.
- Anaheim Ducks forward Mason McTavish is one of the most notable RFAs at the moment.
Panthers GM Bill Zito (Photo by Bruce Bennett/Getty Images)
Heading into this offseason, there was a heightened expectation that this would finally be the offseason when NHL general managers used the offer sheet weapon more. However, as of late Thursday night, not one eligible NHL restricted free agent had received an offer sheet.
After the St. Louis Blues successfully signed forward Dylan Holloway and defenseman Philip Broberg away from the Edmonton Oilers with an offer sheet last August 20, the increased salary cap, so far, has not opened up the floodgates for offer sheets this offseason. Even with the NHL salary cap rising from $88 million to $95.5 million, and expected to increase dramatically throughout the recently signed extension of the collective bargaining agreement, NHL GMs have still resisted throwing down the offer sheet gauntlet.
To understand why, RG spoke to an NHL player agent on the topic. Per the agent’s request, this agent will remain anonymous.
Interview With NHL Player Agent
Why haven’t there been any offer sheets yet?
“So, I’ve obviously given this a ton of thought over the past two years, really, but this year I think it’s really hit home just because there was so much talk about it early,” the agent acknowledged.
“So here’s my theory, if you will: I think in order to make an offer sheet, you have to overpay the player by definition because otherwise, why would you even get the player?
So I think what happens is, fans and media. …and sometimes even the team management themselves are saying: ‘If I believe in a player - kind of like what happened with the Oilers and Blues last summer - I’m willing to overpay him because I think I’m going to get the value in the end’ but what ends up happening is I think the management team has to explain themselves to ownership before they issue the offer sheet. I think the owners are competitive against each other for sure, but they’re more interested in keeping guidelines on salaries than they are on one-upping each other.
So the owner then says to the general manager:
‘Look, if they match it, then all we did is drive up the market, and I don’t want to be that guy that’s accused of doing that because then my buddy who owns that other team will call me and give me (expletive) about it and say the same to other owners’
That’s the only thing that makes sense to me because if it were truly about competition, these offer sheets would be happening all the time. They’re a great tool, as we’ve seen play out multiple times. They’re a great tool if you get the player, and they’re a great tool if you don’t get the player, because you weaken the team you targeted. If that wasn’t the case, then I think we’d see a lot more offer sheets.”
On how more cap space is affecting this with a prime example being the Anaheim Ducks - who currently have $21.3 million in salary cap space - and RFA forward Mason McTavish, who so many speculated would get an offer sheet:
“I think that’s a huge piece of it, yes,” the agent said. “When you go to your owner and you say, ‘Hey, I want to do this, and I think if I load it up front with signing bonuses, and let’s double what I think they’re willing to offer,’ I think that’s a ballsy thing for the GM to say to his owner because if that cap space like Anaheim has exists, then the owner’s going to say ‘OK, well then you better be sure they’re not going to just laugh and match it because if they match it, then we look like complete idiots and all we did was just increase the market for no reason’
But, like I said, even if they don’t match, I think the owners still get pissed at each other, and no one wants that. I’m not obviously privy to it, so this is just my guess from my position, but I think there’s still that ‘Old Boys' network going on. Again, I’m not on that side of it, but if this isn’t the case, why haven’t we seen any offer sheets yet?”
Is the Gavin McKenna sweepstakes and the expected deep 2026 NHL Entry Draft making teams reluctant to surrender first-round picks in an offer sheet?
“I think that’s a logical question, but I don’t think you can answer that question broadly because each team is in a unique position,” the agent said.
“That being said, I don’t think that is a major factor because these GMs’ life spans are so short - like you’re getting fired in less than five years - so how often is that player the GM drafts gonna help his team? I just don’t think they can over-value draft picks as much as I think the media and fans think they do. If you’re getting a kid like McKenna or say a top 5 pick, then maybe, but after that, if I’m a GM and I can acquire a young top 6 forward or top 4 d-man that helps me win now, and in the future, I’m doing it.”
