In the wake of the deadline, some Canes fans concerned that Justin Williams was too much to give up for a pending unrestricted free agent consoled themselves by arguing that if the Canes don’t re-sign Erik Cole, they’ll use the Williams/Cole salary slot to pursue a free agent.
Maybe. Maybe not.
Don’t forget that even if the Hurricanes make a playoff run this summer, at best they would hold the line on salaries.
At worst, we’ll start hearing how the salary cap is going to plummet in two seasons, so they can’t commit to any long-term deals and that as the cap comes down, they can spend much less and still be competitive.
(And if the Canes miss the playoffs, you can count on it.)
After all, they already have $40.7 million allocated to 16 players. That leaves less than $8 million to add seven more under the current budget, with restricted free agents Tuomo Ruutu, Jussi Jokinen and Anton Babchuk and unrestricted free agent Dennis Seidenberg unsigned.
If the Canes decide to sign all four, they could have only pennies left by the time they get down to their final three roster slots, even if Zach Boychuk gets one of them (and he should) at $787,000. The Williams/Cole money would be long gone.
Now, there’s a lot that can happen between now and Opening Night. The Canes could make any number of moves to free up budget room, or some of their older players could retire. Peter Karmanos could even raise the payroll budget.
But as things stand now, the situation figures to get tighter, not looser, next season.
The good news in all of this is that when the cap drops in 2010-11, and it could fall as low as $45 million, the Canes will be in good shape. Of those 16 contracts, eight expire after next season, leaving the Canes with seven players at $23.8 million, Cam Ward a restricted free agent — and $22 million to spend under the cap, in 2010-11.
Here’s how the salaries for next season break down:
Eric Staal $6,000,000
Joni Pitkanen $4,000,000
Ray Whitney $3,550,000
Cam Ward $3,500,000
Rod Brind’Amour $3,000,000
Matt Cullen $2,800,000
Joe Corvo $2,750,000
Tim Gleason $2,500,000
Sergei Samsonov $2,500,000
Scott Walker $2,500,000
Frantisek Kaberle $2,200,000
Niclas Wallin $1,725,000
Patrick Eaves $1,400,000
Brandon Sutter $875,000
(Zach Boychuk $787,000)
Michael Leighton $600,000
Tim Conboy $500,000
(Jeff Hamilton buyout $266,667)
Erik Cole UFA
Dennis Seidenberg UFA
Anton Babchuk RFA
Jussi Jokinen RFA
Tuomo Ruutu RFA
Luke has worked for The N&O since 2000. He covered the Carolina Hurricanes and the NHL before becoming a sports columnist in August 2008. A native of Evanston, Ill., he graduated from the University of Pennsylvania. He can be reached at (919) 829-8947, @LukeDeCock on Twitter or 
Comments
Trading D
Wed, 03/11/2009 - 12:01 — xpukguyEveryone here talks about the Canes trading players. The key to any trade is having a trading partner and having quasi-quality to trade. Let's all be realistic, here, and put down our red and black colored glasses for a second. Who in their right mind would want Wallin, Kaberle and Samsonov? Or the majority of the roster, for that matter?
This is our team, our tradition.
Best-case scenario...
Mon, 03/09/2009 - 01:10 — galatians220I agree this off-season will be a challenge for the front office whether we make the playoffs or not. However, there could be some ways to free up a little cash. The goal should be to try and replace as many 3rd-4th line forwards/3rd pairing D as possible with young players on entry-level contracts. Easier said than done, I know! Here's what needs to happen:
SUBTRACTIONS: Brind'Amour retires, Seidenberg & Leighton walk as UFA's, and we trade Samsonov, Walker, Wallin, & Kaberle. We would need no players in return since we'd be going with a youth movement. I think the Samsonov contract is moveable, and hopefully Walker will be healthy enough by then to garner some interest. D are always hard to come by, so maybe it'll be easier to move Wallin & Kaberle with only 1 year left on their contracts.
RE-SIGNINGS: With the $ saved by the above subtractions, re-sign Cole ($4?), Ruutu ($3?), LaRose ($2?), Jokinen ($1.75?), & Babchuk ($2?). If these guys want more $ than we can afford, consider letting them walk & fill their spot with a young guy. At some point we have to be willing to make hard decisions as a small market team.
ADDITIONS: There would be 3 forward spots & 3 D spots open in camp, allowing for some lively competition. I would tenatively fill those w/ Boychuk ($.787), Bowman ($.55), Petruzalek ($0.5?), Borer ($0.5?), Carson ($0.5?), & Rodney ($0.5?). Also, we would need to sign a backup goalie ($1?).
Our lineup would be as follows:
Ruutu/Staal/Cole
Whitney/Cullen/LaRose
Eaves/Jokinen/Boychuk
Conboy/Sutter/Bowman
(Petruzalek)
Gleason/Corvo
Pitkanen/Babchuk
Rodney/Carson
(Borer)
Ward
backup goalie?
Our total payroll: $45.229
Hurricanes and Spending to the Cap
Sun, 03/08/2009 - 09:59 — abramsdougThe trade for Erik Cole and the subject ignited play of the Hurricanes demonstrate how much the Hurricanes needed to add size, speed, and toughness to the team. It is obvious that the for the Hurricanes organization, the fans, and the community at large, a concerted effort is needed to add revenue so that the Hurricanes can spend to the NHL Cap. It's not going to a simple problem to solve; but this community has always come together to solve these kinds of problems. It wouldn't take that many more full season ticket holders for revenue to increase to the point spending to the Cap was feasible economically.
There's too much money on D
Sat, 03/07/2009 - 19:12 — ctillThere's too much money on D in the lineup above, given that we're likely to keep Pitkanen and Corvo. Pressure is on Wesley to get the top D's from Albany into the NHL. I look at Gleason, Seidenberg, Wallin, and Kaberle... at least two of them have got to go, with replacements coming from Albany.
Similarly the roster is getting jammed up with forwards, with good (and inexpensive) talent on the way up. Wouldn't surprise me if JR dumps salary by trading Samsonov, Walker, and/or Eaves for prospects and draft picks. Bayda is likely to leave, and I'm not so sure about LaRose hanging around.
LaRose?
Sat, 03/07/2009 - 13:51 — lewpulsChad seems to be missing from the list. $875,000 or something like that?
Chad is an UFA
Sat, 03/07/2009 - 15:40 — Elskerthis summer. He's currently on a one-year deal. That's why he's not on the committed salaries for next year list above
Cap
Sat, 03/07/2009 - 11:57 — louis12580To those of you out there who feel that Mr. Karmanos isn't spending enough money, this is why. Teams like Anaheim, Philadelphia, New York Rangers will be in a world of hurt. Teams that spend wisely and are prepared for the future won't be on the Titanic/Hindenberg. Personally, I would like to see some paring of salaries on the defense. Maybe a draft day deal involving Kaberle. Maybe Nic going back home. I would like to keep Dennis, but there are 3 in the minors, plus McBain in college ready to make that next step. This will probably a quiet off season as far as free agents are concerned. Not long term-high dollar contracts will be offered as teams get ready for the 2010-2011 season.
Good post...
Sat, 03/07/2009 - 12:22 — hockeyhickI would love to see Seidenberg back next season as well. But I doubt he will be. Too many good young D down in Albany to justify spending a lot on Seids...I don't think Jokinen will be resigned. Kaberle will be gone next year-just don't know how much of his contract will be on the books (I doubt anyone would trade for him.) If Brind'Amour retires (which is a strong possibility) we would be in good shape cap-wise and be able to hold onto Ruutu, Cole and bring in some of the Rats that definitely deserve to be here. We will be a much younger team next year for sure.
Kaberle
Sat, 03/07/2009 - 11:11 — RX7RavenWe gotta find a way to dump Kaberle and his salary I know we all have been talking about this for years now but I think it truly has come to futurition. We are paying him way to much money to sit on the bench. He has lost his puck moving ability (or we have better D men to do that) and his defense is not good. JR please find a way to drop Kaberle. Ty and good night.