Lightning create wiggle room under salary cap, but not for Steven Stamkos

The Tampa Bay Lightning cleared a lot of cap space on Saturday, but apparently not to re-sign captain Steven Stamkos.

General manager Julien BriseBois said the team and Stamkos decided to let the Lightning star hit the unrestricted free agent market on Monday. This follows two trades made Saturday during the NHL draft that opened up significant salary space, as the Lightning sent defenseman Mikhail Sergachev ($8.5 million average annual value) to Utah and forward Tanner Jeannot (average annual value of $2.665 million) to the Los Angeles Kings.

CapFriendly now estimates that the Lightning will have $16.5 million in available space under the salary cap. There was a lot of speculation that this extra space was intended for a new contract for Stamkos, but that was not the case.

BriseBois said he spoke with Stamkos’ agent, Don Meehan, on Saturday after the trade was completed but did not increase the team’s offer to his star forward. Multiple reports say the Lightning have made a long-term offer to Stamkos, but with an average annual value of just $3 million.

“The plan is for Steven to test the free agent market. Our respective positions have not changed as a result of today’s transactions. I understand that when you get so close to the free agent market, it can be tempting to see what the market has to offer. That was a risk I took when I didn’t consult Steven a year earlier to try to lock him up and get a deal done,” BriseBois said.

The general manager also told Meehan that “it’s in the best interest of our organization to explore all options in the coming days, whether it’s through trade or entering free agency.”

There was strong speculation during the draft in Las Vegas on Saturday that the Lightning could target Carolina Hurricanes winger Jake Guentzel in free agency, who is five years younger than Stamkos. The Hurricanes attempted to retain Guentzel but have yet to re-sign him.

“We have this space under the salary cap. We can allocate it in different ways, either getting volume or quality. I don’t know yet how we’re going to get there. I know the priority will be to take care of our forward group,” said BriseBois.

Stamkos, 34, has been a key part of that forward group since the Lightning selected him first overall in the 2008 draft.

Stamkos spent 16 seasons with the Lightning and is the club’s career leader in goals (555), points (1,137) and games played (1,082). He won two Stanley Cups (2020, 2021) with the franchise and has 50 goals and 51 assists in 128 playoff games.

Last season, Stamkos scored 40 goals and 41 assists in 79 games. It was the seventh time he scored 40 or more goals. A seven-time All-Star, Stamkos also had his first career four-goal game last December.

Stamkos nearly became a free agent in 2016 before signing an eight-year, $68 million contract just before the free agency period began. But this time he is heading to the market.

“We have to see what’s best for the Lightning organization and Steven has to do what’s best for him, his career and his family,” BriseBois said. “So unless something changes between now and July 1 — and it doesn’t look like it will — then we’ll get to July 1.”

The Lightning are also hoping to reach a contract extension with defenseman Victor Hedman, who has one season remaining on an eight-year, $63 million deal. Hedman, 33, has 13 goals and 76 points in 78 games this season, his 15th with the club.

“We have had discussions with Victor’s agents about an extension,” BriseBois said. “In his case, we have more room to maneuver before having to reach a deal, because he still has one year remaining on his current contract. That being said, the plan remains to be able to announce an agreement on a new contract for Victor in the coming days. »

Information from Field Level Media was used in this report.