The Vancouver Canucks added to their defence in free agency. They also added to their already-excessive salary cap hit, and they have until October 10th to correct it.
Canucks Added Players, Pain
Vancouver needed defencemen. Hardly a trade secret we’re giving out here, but the issue was exacerbated with the Oliver Ekman-Larsson buyout and the Ethan Bear injury. What had needed an upgrade also needed bodies. The depth of the Vancouver Canucks Defence is now in plenty.
I Fence, You Fence
With the departure of Ekman-Larsson, the Vancouver Canucks defence got reinforced. Enter Ian Cole and Carson Soucy, and, to a lesser degree, Matt Irwin. Now, Irwin likely isn’t playing a lot of NHL games this season, but he is a solid choice as an extra man in the 7-8 spot.
It is interesting to see that for all the talk of the importance of handedness, none of those three have a right-handed shot. Cole, Soucy, and even Irwin have played on the right side often enough to be comfortable there, but they’re still lefties.
The righties still with the team are AHL players Filip Johansson and Jett Woo, “tweener” Noah Juulsen, LTIR candidate Tucker Poolman, the injured Filip Hronek, and… oh, yeah. Tyler Myers.
Myers Mired
This is where the Vancouver Canucks Defence can take a turn. Things got interesting when former Canucks employee Rachel Doerrie said this on Sekeres and Price:
"I think Tyler Myers is going to get dealt…I believe that bonus was paid this week, based on the info I have. If it hasn't…the #Canucks can opt to pay it early so they can facilitate a trade. That is an option."@CampbellPound | https://t.co/cy2hdm1fWp
— Sekeres and Price (@sekeresandprice) July 7, 2023
If that is the case, then there is very little in the way of a deal involving Myers. Surely, if he’s getting traded it’s better for all involved that it happen before training camp. New team, new coaching for him; working out the pairs for the Canucks.
Whatever the Canucks add in return for Myers is just a bonus at this point. Except nothing in Canucks land is ever that simple. David Quadrelli soon came out with this:
Re: Myers’ bonus:
Told the #Canucks have not and will not be paying his bonus early as it would he deemed to be circumventing the salary cap by the NHL.Team will not be paying the bonus early.
— David Quadrelli (@QuadrelliD) July 8, 2023
Myers is in the last year of his 5 x $6 million contract. It was deliberately written so that this final year would have a $5 million bonus in it, making the deal hard to move. Because nobody likes moving, including NHL players.
The Myers Contract Dilemma
His contract situation is no secret, with everyone knowing that once the bonus was paid, Myers’ value is actually pretty good. He still has good speed, and it’s not like he shrunk over time. As a $1 million defenceman, he’s a steal – if you have the cap space.
Add the reliable word of Frank Seravalli that a deal is/was on the table with the San Jose Sharks, and the relationship meter stays pinned at “It’s Complicated.”
“My understanding was that the deal on the table was Tyler Myers straight up for Kevin Labanc.”
It’s not a perfect deal, but it’s not a bad one. Both players have a year to go, and while Kevin Labanc is yet another winger, his cap hit is $1.275 million less. In actual cash money, he’s owed $5.875 million compared to Myers’ $1 million.
That is very likely the sort of deal Vancouver will need to do to move that cap hit. Cash now – and more of it – for cap space. While the Canucks added defencemen, Lebanc is also less desired positionally.
Deal or No Deal
The most frustrating thing about the whole issue is that no one who actually knows is talking. The team isn’t revealing anything through official channels – apologies to David Quadrelli – and Myers’ representatives have said nothing.
We have known for a long, long time that if Myers’ deal didn’t work out it was going to be hard to buy out. The only movement that made sense was either an early trade or a very late one.
The hopes for an early trade went out the window with the first three seasons having a full no-trade clause. The chances of a late trade are, well, now. Or whenever the heck that bonus is paid out.
Just to keep things clear: we fully support a player having no-move and no-trade clauses. We also fully support those players exercising them. They were negotiated, after all, for a reason. No one likes moving.
But now it looks like Tyler Myers’ opportunity here is over. His no-trade clause is down to ten teams, and if the situation is reasonable he might get talked into other locations.
What the Contract Says (Maybe)
Bonus money is normally paid out on July 1st. That’s essentially the beginning of the NHL’s New Year, with contracts signed ending on that date and free agency opening. But that wouldn’t stop someone from specifying when their bonus money gets paid mid-contract.
Whoever it was that told Quadrelli that early payment would constitute a cap circumvention is probably wrong. Or they may have been paraphrasing for ease of communication. It’s unlikely the NHL would object to bonus payments being made early, but the NHLPA might.
Players put clauses into their deals for their own reasons – including making it very difficult to trade them. Having a $5 million payment due less than a week before training camp is an added incentive for teams to keep away.
Ducking that specific obligation – without the player’s permission – would and should draw the NHLPA’s ire. This doesn’t mean it is impossible, just that one more obstacle is on the course.
What the Math Says (Definitely)
If the Canucks added Kevin Labanc, they would have another NHL-quality winger. They’d also have a $4.725 million cap addition and a $5.875 million cash layout.
Moving on from Tyler Myers, they would have one fewer NHL-quality right-side defender. They’d also reduce their cap obligation by $6 million and their cash layout by… Hm. Either $6 million or $1 million.
You’d think that $5 million would make a difference, but not if San Jose has already put the offer forward. Nothing else would be exchanged in the deal. And, apparently, the Canucks can’t offer San Jose Tyler Myers AND $5 million for Kevin Labanc for “reasons”.
The Sharks are trying to move Erik Karlsson, and do have room for an overpaid, right-handed defenceman. In return, Vancouver would be getting a marginally cheaper player at an overstuffed position and $1.275 million in cap savings.
Is Labanc a better winger than Vancouver has right now – or will have if they succeed in moving one? He scored 15 goals and 33 points last year, almost all of them at even strength.
He wasn’t used on the penalty kill, but Labanc’s ES Corsi was over 54% on a team with a -87 goal differential. That’s better than Anthony Beauvillier managed last year, though he was a bit more sheltered. He’s not replacing Conor Garland‘s scoring, but on the bottom six?
Shifting Problems, Canucks Style
If the Canucks added Labanc for Myers, it wouldn’t solve their depth issues at wing. Nor would it make their salary cap issues go away. And indeed, it would make the team worse at defence in both speed and size.
That all being said, it might be worth it. Labanc can improve the bottom six forward group, possibly moving to the middle six if Vasily Podkolzin or Nils Höglander falter. A bit of improvement in two areas – wing and cap space – at the cost of some defence.
This management group rarely makes one-part moves, so feel free to speculate what else the team is trying to do, knowing this deal is available. But bonus payment made or not, this deal – or one like it – is one the Canucks should take.
Main Photo: Bob Frid-USA TODAY Sports
