Ottawa Senators should use their cap space as a weapon

The Ottawa Senators should be creative this offseason by using their cap space to acquire assets.

This NHL offseason will be totally different from the ones in previous years. There has never been an offseason like the one which is about to happen. With a flat salary cap ceiling of $81.5 million and very little time for teams to clear cap space to sign players, cap space will be at a premium. The Ottawa Senators are in a very unique position to take advantage of the chaos.

As of Sept. 20, the Senators have over $39.5 million of cap space, according to CapFriendly. Of course, this comes with a caveat – the Senators have just 10 players signed, including just four forwards. They have numerous RFAs and UFAs, such as Connor Brown, Chris Tierney, and Anthony Duclair. After re-signing their RFAs, I’d expect them to have roughly $25 million of cap space.

Since the cap ceiling is the same, it’s safe to assume the cap floor will remain the same at $60.2 million. This would leave the Senators roughly $5 million short of the floor. So they’re probably going to have to take on a fairly significant deal or two just to reach that.

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The Senators shouldn’t stop there, though. If they’re smart and Eugene Melnyk is willing to open his pocketbook, the Senators could use their immense cap space as a weapon. Teams are going to be looking to shed salary. If the Senators are willing to do it, they’ll likely get extra draft picks and/or prospects.

Let’s look at a few quick examples of some players who they should target.

Marc-Andre Fleury

Now, Marc-Andre Fleury has a modified no-trade clause. So he might not even want to go to Ottawa. However, if he’s not on their list, the Senators should be all over him for several reasons. First of all, the Senators need to add a goalie. Why not add Fleury, who’s also an excellent leader?

Secondly, I’m willing to bet the Vegas Golden Knights would happily part with a high draft pick or very good prospect if the Senators take on his entire $7 million cap hit.

Leo Komarov

Leo Komarov’s deal is a bit more palatable than Fleury’s. Though he has a $3 million cap hit in each of the next two seasons, it’s worth pointing out he’s only due $4.5 million in salary. The Islanders need to clear some cap space so they can re-sign both Mathew Barzal and Ryan Pulock.

Travis Dermott

OK, technically, this isn’t a cap dump because right now, Travis Dermott doesn’t even have a contract. He’s an RFA. But if the Maple Leafs wind up signing Alex Pietrangelo, Dermott’s going to be the odd man out. He has the potential to be a top-four defenseman. The Senators should be all over him if he’s available.

Jason Demers

The Arizona Coyotes are desperately looking to clear cap space. Ottawa should be asking about Jason Demers. It likely wouldn’t take too much to acquire him. While the Senators probably wouldn’t get an asset to take on Demers’ contract, they could bet on him getting them a decent return at the 2020-21 trade deadline. Of course, that’s a bit risky. But a team like the Senators can afford to take a few risks.

These are just a few of the names the Ottawa Senators should be interested in. They’re obviously not going to spend to the cap ceiling. It’s simply not plausible for them to do it. But if they need to add some money just to hit the cap floor, why not get an asset or two to do so?