New Jersey Devils Should Offer Sheet Mika Zibanejad

Helping your team at the expense of a rival is a true win-win. Could the New Jersey Devils use the offer sheet process to do just that to the New York Rangers?

Editor’s Note: Arbitration eligible players aren’t available to talk offer sheets with other teams as per the NHL rules, but teams are allowed to walk away from contracts from player-elected arbitration when it exceeds $3.5 million. We are assuming that’s the case here.

Let’s start with the obvious here.  Offer sheets and the restricted free agent (RFA) process is not, by any means, the perfect or ideal process for acquiring players. No club wants to surrender future draft picks in exchange for an RFA, and making offers can make an NHL General Manager persona not grata in the eyes of some executives within the league. Those are pretty much the main reasons the RFA process and offer sheets are rarely put into play within the NHL.

Yet, in a world where we keep hearing about how difficult it is to attract unrestricted free agents to New Jersey, one must use all available alternatives for bringing in talent. Accordingly, other vehicles in addition to trades should be seriously considered by Ray Shero.

Could Mika Zibanejad be an RFA target for the Devils?

Shifting our gaze to the protagonist of this article, Mika Zibanejad is truly a nice piece to have on any team.  The Stockholm native is basically a twenty goal scorer the past three years (when factoring in his injury last season). He plays right wing, a position which is desperately thin on the New Jersey Devils roster. He’s capable of playing on the PP and the PK. Zibanejad is big, possesses a hard shot and fills a gaping hole for Jersey’s Team. Plus, he’s 24 years old and Ray Shero loves European forwards. He’s a great fit.

Zibanejad is currently a restricted free agent.  As such, it requires that an offer sheet be submitted for his services. Compensation is in play and the New York Rangers have the right to match any offer. Given those facts, consider some of the pros and cons of say a 5-year $27.5 million offer ($5.5 million AAV) by the Devils for Zibanejad’s services.

• An offer of this nature is not dissimilar to the contracts signed by Adam Henrique and Kyle Palmieri at a comparable point in their NHL careers.  A touch more money, with the premium applied because the player is changing clubs and coming to a ‘less attractive’ situation.
• The New York Rangers probably don’t want to make Zibanejad their second highest paid forward. If they did, Zibanejad probably would not have applied for salary arbitration.
• The compensation level of a first and third round draft pick for Zibanejad for the $5.5M AAV of a proposed offer is a significant price to pay for his rights. That can not be understated. Shrewd selections in the draft is the best way to improve in this league. That being said, it is not too much more than what was paid for Marcus Johansson and the Devils would gain Zibanejad’s rights for a full five years as compared to two years for Mo Jo.
• The New York Rangers probably don’t want to give Mika Zibanejad the longest term contract on their roster.
• Right wing is a true position of need on the Devils. It’s probably a bit more than the Devils would want to pay Zibanejad in the ideal world, but when you have $20 million in cap room, you can tolerate a modicum of indiscretion.  I think the other Devils would overlook that inequity and understand the club is doing what needs to be done to compile the best possible roster to compete for a playoff slot in 2017-18.

If the New Jersey Devils were to submit such an offer sheet, what might one expect the Rangers to do? Match the offer and retain Zibanejad’s rights, or let him walk?  In my view, it’s a pretty close call. On the one hand, the Rangers would hate to see a player like him across the Hudson. At the same time, as we saw with the Capitals, there are limits on the number of promising players you can keep long-term.

Next: New Jersey Devils Draft A Big Success

From the Devils’ perspective, in my opinion, submitting an offer sheet is a win-win.  Should the Rangers choose not to match, I can live with the compensation. Not totally thrilled with it, but this is a 24 year old right winger who is a proven scorer in the National Hockey League. Draft picks are assets and possibilities, not proven commodities and givens. Zibanejad’s production level is pretty close to a given, he’s been at the same general 20-goal level three years running.

If the Rangers match the offer sheet, well, no harm no foul for New Jersey. The Rangers are saddled with a contract they probably don’t want on the books. That’s just fine by me too.

What are your thoughts on this? Look forward to hearing them and, as always, thanks for reading.