{"id":94266,"date":"2020-12-18T10:14:54","date_gmt":"2020-12-18T15:14:54","guid":{"rendered":"https:\/\/lastwordonsports.com\/hockey\/?p=94266"},"modified":"2020-12-17T18:10:13","modified_gmt":"2020-12-17T23:10:13","slug":"alex-steen-retirement-leaves-blues-gift-cap-space","status":"publish","type":"post","link":"https:\/\/lastwordonsports.com\/hockey\/2020\/12\/18\/alex-steen-retirement-leaves-blues-gift-cap-space\/","title":{"rendered":"Alex Steen Retirement Leaves St Louis Blues With Gift of Cap Space"},"content":{"rendered":"

The Alex Steen<\/a> retirement due to a degenerative disc condition<\/a> in his back leaves the St. Louis Blues with a couple of voids. He leaves behind a 15-year NHL career with tangible two-way production and intangible leadership. Steen also leaves the Blues with a few million dollars in cap space, thanks to complex cap maneuvering. With Vladimir Tarasenko<\/a>‘s status for 2021 uncertain, some may want the Blues to invest in free agency. However, the situation isn’t that simple.<\/p>\n

Alex Steen Retirement Leaves Blues With Cap Space<\/h2>\n

Sorting Out LTIR<\/h3>\n

What is long-term injury reserve? The NHL rulebook states that he can go on LTIR if he will be out at least 24 days and 10 NHL regular-season games. However, the money stays on the payroll and counts towards the salary cap. So where’s the benefit? Read below.<\/p>\n

(iv) The replacement Player Salary and Bonuses for any Player(s) that replace(s) an unfit-to-play Player may be added to the Club’s Averaged Club Salary until such time as the Club’s Averaged Club Salary reaches the Upper Limit. A Club may then exceed the Upper Limit due to the addition of replacement Player Salary and Bonuses of Players who have replaced an unfit-to-play Player, provided, however, that when the unfit-to-play Player is once again fit to play (including any period such Player is on a Bona Fide Long-Term Injury\/Illness Exception Conditioning Loan to another league), the Club shall be required to once again reduce its Averaged Club Salary to a level at or below the Upper Limit prior to the Player being able to rejoin the Club.<\/p><\/blockquote>\n

Sort of like the game Monopoly, this essentially serves as a “Go Over The Salary Cap Free” card. The Alex Steen retirement means he can go on LTIR. Doing so in the off-season frees up 80% of his $5.75 million cap hit, or roughly $4.2 million. Subtract the roughly $1.1 million in cap overage, and you’re down to around $3.1 million. Sign restricted free agen<\/a>t defenceman Vince Dunn<\/a> to, say, a $2.5 million deal, and there go your Steen savings, right?<\/p>\n

Well…not if you do this smartly.<\/p>\n

When To Put Steen on LTIR<\/h3>\n

If you wait until after Opening Day, the Blues essentially get\u00a0all\u00a0<\/em>of Steen’s $5.75 million as cap overage cushion. Plus, the Blues will get even more <\/em>LTIR relief with the eventual placement of Tarasenko and his bum shoulder<\/a> on LTIR, too. He’s not due back for at least two months into the season, maybe longer. In a Wednesday press conference, Blues GM Doug Armstrong stated Steen will go on LTIR after he inevitably fails his pre-season physical. As you can watch here<\/a>, Armstrong also didn’t rule out signing someone with Steen’s LTIR money but did explain the complexities of in-season and off-season LTIR and how that can affect the signing of a new player.<\/p>\n

Who They Could Sign<\/h3>\n

Mike Hoffman<\/h4>\n

It doesn’t take a hockey expert to know 30-goal scorers don’t grow on trees. And yet, as the upcoming season approaches, Mike Hoffman<\/a> still finds himself available on the market. He’s a shoot-first, pass-second, and occasionally plays defence type of forward. Still, those forwards have value, and Hoffman’s cap hit with the Florida Panthers<\/a> last season was just over $5.1 million. Surely, he’ll have to take a pandemic-aided pay cut this season, but does Hoffman take a page off the Taylor Hall<\/a> playbook and sign a one-year “prove it” deal? If so, he could do a lot worse than being centred by one of Ryan O’Reilly<\/a>, Brayden Schenn<\/a>, or Robert Thomas<\/a>.<\/p>\n

Carl Soderberg<\/h4>\n

Remember when Carl Soderberg<\/a> was a St. Louis Blue? He never suited up in the Blue Note, but he was a second-round pick in 2004 by the Blues. Unfortunately, the Blues would send him packing in 2007 to the Boston Bruins for netminder Hannu Toivonen<\/a>. He’s a veteran two-way forward who’s 35 years old and maybe better suited for a bottom-six role. But that might not be good enough for a Blues team seeking more punch. Soderberg would fill the void caused by the Alex Steen retirement, but the Blues need more than that.<\/p>\n

Mikael Granlund<\/h4>\n

A former ninth overall pick of the Minnesota Wild, Mikael Granlund<\/a> appeared to be a part of the Wild’s core for years to come. He racked up 26 goals and 43 assists as a 24-year-old just three seasons ago. His production would soon tail off and a trade to the Nashville Predators didn’t work out for anyone involved. He’s a playmaker who looks to pass first and hasn’t had more than 193 SOG in a season. He may not be the flavour of forward the Blues are looking for to help replace Tarasenko’s production.<\/p>\n

Main Photo:
\nEmbed from Getty Images<\/a>