Panarin extension creates cap crunch in Windy City
The Chicago Blackhawks have locked up Artemi Panarin for the next two seasons, but it won't come cheap.
On Wednesday, the Blackhawks and Panarin agreed to terms on a two-year, $12-million extension. The deal secures Panarin's place in the Blackhawks' lineup for the next two seasons, while he can become an unrestricted free agent in 2019.
With 37 points in 37 games, Panarin has outpaced all Blackhawks this season, including Patrick Kane, last year's Art Ross winner, and sits just four places and five points back of the NHL scoring lead. The 25-year-old made his NHL debut last season after spending the previous six seasons in the KHL, and captured Rookie of the Year honors after scoring 77 points in 80 games.
On his new deal, Panarin will become the Blackhawks' third-highest paid forward, behind only Kane and captain Jonathan Toews. Beyond that, he's the fourth-highest paid on the team, behind defenseman Brent Seabrook and earning the same as goaltender Corey Crawford.
Taking that a step further, 10 Blackhawks will earn at least $3-million against the salary cap. In total, 15 players are signed through 2016-17, and nine others are in need of new contracts, including five forwards, three blue-liners, and a backup goalie. Assuming little to no change in this year's $73-million salary cap, the Blackhawks will have less than $7 million to fill out the rest of their roster.
In short, others need to go in order to make room for Panarin's new money. Here are three possibilities:
Marcus Kruger
Center Marcus Kruger is relied on for his strong checking presence down the middle. He's a valuable pivot at both ends of the ice, relied on for his skills on the penalty kill, in the faceoff circle, and even his knack to chip in offensively.
He's also owed a shade over $3-million against the cap for the next two seasons. His intangibles aside, that sort of money makes Kruger a good candidate for the trade block.
In his place, look for the Blackhawks to turn to some of their more affordable young talent to pick up the slack for Kruger.
Niklas Hjalmarsson
A high-end second pairing defenseman could be a luxury the Blackhawks can no longer afford, given that the same money could soon be redirected toward Panarin.
At a $4.1-million hit on the salary cap, Niklas Hjalmarsson is signed through the next two seasons, a price tag that is likely too much of a squeeze for the Blackhawks. Chicago could opt to move the blue-liner for picks or prospects, or even young and affordable players to fill out the rest of their roster.
The Blackhawks have some interesting young defensemen, including Gustav Forsling, Trevor van Riemsdyk, and Michal Kempny, which should help cover the potential loss of Hjalmarsson. The team could also re-sign veteran blue-liner Brian Campbell, who returned to Chicago this season on a hometown discount, earning a cap-friendly $1.5 million.
Scott Darling
The Blackhawks have a quality second-string goalie in Scott Darling. The problem is his performance this year will earn him too big of a raise for the Blackhawks to accommodate.
Through 17 games this season, Darling has posted a 10-3-2 record and .923 save percentage. That type of play gives confidence to coach Joel Quenneville and offers key breaks for Crawford.
But with a cap hit of under $600,000 this season, Darling is due for a healthy raise.
A jump of about $1 million or so will be tight for the Blackhawks, while Darling will likely look for a lot more minutes elsewhere, in addition to a raise in pay. For the Blackhawks, a younger, more economical goalie could better fit their cap picture next season, like Swedish goalie Lars Johansson, who made his North American debut this season with Rockford (AHL).