Cashing In On Dual Offer Sheets

The words “offer sheet” combine for a horribly dirty phrase for some in the hockey world. It’s considered dirty pool by many fans and major media personalities, while general managers like Darcy Regier and Brian Burke take it as a personal affront. Though it’s not such a terrible sleight that it prevents them from later making moves that they deem right for the team, such as unloading Ales Kotalik on the evil guys that send out offer sheets.

Collectively, the authors here at The Copper & Blue are hockey’s biggest (and quite possibly only) proponent of dual offer sheets. The concept of a dual offer sheet is simple: send offer sheets to two separate restricted free agents currently employed by the same team, especially when that team is in some amount of cap distress. Essentially, you are forcing a team to make a choice between their assets. I’ve been lauding them for a couple of years and wrote an article about them last season in which I detailed and predicted that Phil Kessel trade, thank you very much. Because the team making the offer sheet must surrender draft picks, it doesn’t make sense for a team in the lottery to make an offer, unless the player being targeted is high-end, lottery-like talent. The strategy makes the most sense for teams in the bottom third of the draft that may have a difficult time finding talent to make an impact, or teams in the bottom two-thirds of the draft that may need an impact player but don’t see that player in unrestricted free agency.

I’ve sorted the target teams by next year’s contracted cap hit, so the teams at the top of the list are in the most cap distress.

Chicago Blackhawks

Andrew Ladd ($1,600,000)
Antti Niemi ($800,000)
Niklas Hjalmarsson ($600,000)

New York Rangers

Dan Girardi ($1,600,000)
Marc Staal ($800,000)

Montreal Canadiens

Carey Price ($2,200,000)
Jaroslav Halak ($800,000)

Washington Capitals

Eric Fehr
Jeff Schultz ($700,000)
Tomas Fleischmann ($700,000)

Edmonton Oilers

Sam Gagner ($1,600,000)
Andrew Cogliano ($1,100,00)

Dallas Stars

Nicklas Grossman ($1,000,000)
James Neal ($800,000)

Nashville Predators

Denis Grebeshkov ($3,100,000)
Patric Hornqvist ($700,000)

San Jose Sharks

Joe Pavelski ($1,600,000)
Devin Setoguchi ($1,200,000)

Colorado Avalanche

Chris Stewart ($800,000)
Kyle Quincey ($500,000)

Phoenix Coyotes

Wojtek Wolski
Martin Hanzal ($1,000,000)

6 Responses to Cashing In On Dual Offer Sheets

  1. number15 says:

    now for example, what is a team offers both Montral goalies an offer sheet. it would have to be pretty high for Montreal to decline….. 3 millio–1st/2nd/3rd rounders

    now imagine, as crazy as it seems, what if Montreal declined both. basically u HAVE to take 2 goalies at 6 million total plus 2 1st rounders, 2 2nd rounder and 2 3rds……… is that even legal?

    ***obviously Montreal wouldnt let them both go. just assume….. it could have in different cir*****stances i guess

  2. Kev_Leafs says:

    3 – 4.5 million (roughly) is worth a 1st and a 3rd in compensation.  It has to be an offer over 4.5 and under 6 million to be worth the 1st, 2nd, and 3rd round picks.

    Good point.  That would be messed up.

    But, I'd think the team wouldn't issue them at the same time though.  They'd offer Price a contract, if the Habs matched it, they'd then offer Halak a contract, which would force the Habs again to match a second one or walk.  At least that's how I'd hope they do it – to avoid the situation you just highlighted. 

  3. HABSSTAR says:

    I think teams have to have their own picks available to make and offer.  This could lead to some crazyness.  Lets say you make two offers to players on the same team (and just to keep it simple lets say both offers require you to surrender a 1st, 2nd, and 3rd) how does that work out if the team says "Ok, you can have them"?  Obviously you can't provide 2 of each 1st, 2nd and 3rd of your own picks in the same year.  So while putting two offer sheets in on players on the same team might be legal under the CBA I don't know how the issue would be resolved if the team declined to match both offers, uless the picks can be deffered to another year. 

  4. reinjosh says:

    I'm pretty sure that this isn't even possible. The proponents of the offer sheet system as outlined in the CBA restrict this type of thing from happening or at the very least make it difficult. Because you can only use your own draft picks for a designated year, you can only make an offer using said picks. Meaning, if you wanted Ladd or Hjalmarsson and you wanted to make an offer on each, you would have to make the sheets work together so they use a combination of the 1st, 2nd, 3rd so that the offers don't overlap the picks.

    Basically player A gets offered 3.5 million a year and player B gets offered 2.5 million a year so said offering team would only be using a 1st and 3rd for Player A and a 2nd for player B.

    This won't happen because their are so many factors that just make it a hard thing to accomplish.

    A, you have to get the RFA's to agree to a contract. That, unto itself is a hard thing to do. A player has to go where he wants and get how much he wants. Same as free agency just you have to give to get. B, if the other team doesn't want either, you get both. Thats a lot for two lesser players (if they have real talent and agree to a 3.5 million dollar deal, you better believe said team matches it). Anywhere from 4.5 million to 7.5 million plus a 1st a 2nd and a 3rd. Thats alot, and as the Kessel deal proves, people like to see first rounders as be all, end all ways to win. Plus, option C, you tend to piss off other GM's.

    It just doesn't make a alot of sense to double offer.

  5. wingsnation21 says:

    Look for Detroit to go after Hjalmarsson

  6. Kyleton says:

    Can't happen. Props on predicting what all major sports sites predicted.

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