The St. Louis Blues are still dealing with a tight salary cap. Another option for them to clear cap space is to trade Nick Leddy.
The Blues Cap Situation
The Blues have made some progress in clearing cap space this off-season. During the draft, the Blues traded Kevin Hayes to the Pittsburgh Penguins. Furthermore, the Blues did not have to retain any salary on Hayes’s contract. This freed the Blues a little over $3.5 million.
Trading Hayes was a big step in the right direction. However, there is more the Blues can do to clear cap space. The option most people would have thought of would have been trading Torey Krug. However, the Hayes trade showed the Blues might have had to give up a little more to get a team to take on some of Krug’s $6.5 million cap hit over the next three seasons. Furthermore, Krug’s recent arthritis diagnosis will likely keep him out for the season. Therefore, a Krug trade is unlikely to happen.
Trading Nick Leddy Is The Next Option
The Blues could clear more cap space by trading Leddy. The 33-year-old defenceman has two years left on his current contract. The contract has a cap hit of $4 million a season.
The Blues acquired Leddy at the 2022 trade deadline. Leddy had an immediate impact on the team, helping the Blues reach the second round of the Stanley Cup Playoffs. Furthermore, the Blues re-signed Leddy to a four-year contract following the end of the season.
Despite a rough last two seasons for the Blues, Leddy has been a silent positive. In his two full seasons with the Blues, Leddy has averaged about 22 minutes of time on the ice. Furthermore, he averages less than a penalty minute a game. This is important because it shows Leddy is not making mistakes that puts his team at a disadvantage. Considering Leddy plays roughly 7:30 a period, it is important that he is staying out of the box. When Leddy is on the ice, the Blues average two goals a game.
The advanced numbers are not all positive, but the takeaway is that Leddy is a plus player when he is on the ice. If Leddy were playing for a contending team, those numbers would reflect closer to his time with the Blues in 2022, where the Blues averaged over three goals a game when he was on the ice.
In short, Leddy is still a productive player. He would be an asset to a contending team. Of the other Blues defenders possibly available, Leddy has the most value.
What Would A Trade Look Like?
To get the Penguins to take Hayes’s full contract, they had to give up their second-round pick. Since Leddy is still a productive player, a team may be open to taking on the salary for two seasons. Conversely, if the Blues did retain salary, it would be no more than $2 million a season. They would still be saving $2 million a year.
The return in a Leddy trade would likely depend on whether the Blues are retaining any salary. The Blues could encourage a team to take on more of the salary if the return is minimal. Right now, clearing cap space is what the Blues want. An additional $2-$4 million a season in exchange for Leddy is a great deal for the Blues.
Possible Pairings Without Leddy
If Leddy is traded, that would change how the Blues defensive pairing would look. One pairing certainly needs to be Scott Perunovich and Colton Parayko. Justin Faulk could be on a pairing with the newly-signed Ryan Suter. The third pairing then could be Matthew Kessel and either Tyler Tucker or Pierre-Oliver Joseph. Whoever does not make the lineup between Tucker and Joseph would be the extra defenceman.
A Leddy trade would open more opportunities for young defencemen like Perunovich and Tucker to play. Furthermore, it opens the door for Jeremie Biakabutuka or another young defenceman to get some NHL time should they earn it at the minor-league level.
The Blues Are Not Contenders, So Why Not?
Re-signing Leddy in 2022 made a lot of sense because the Blues thought they would still be contending. The reality is that they are not. Another reality is they have cap constraints. Furthermore, Leddy is still showing productivity despite being on a struggling team. It would be wise for the Blues to try and make a deal work. They would clear cap space while giving more playing time to younger players. These are two important things that need to happen during this retool.
Main Photo Credit: Perry Nelson-USA TODAY Sports
