Senators Pushing Hard on Ullmark & Other News

Elliotte Friedman appeared on the NHL Network ahead of tonight’s game seven of the Stanley Cup Final where he addressed some of the intriguing rumours around the league.

When asked about how the goaltending market has pivoted following the Jacob Markstom trade to New Jersey, Friedman believes the market is focused on Linus Ullmark.

“I think that it has put a lot of focus on Linus Ullmark. There’s no question about that. Boston and Ottawa have been working on something. There’s the challenge there of Ullmark’s 14-team no-trade (list), but there is also the challenge of an extension. Boston is hoping for a higher price than New Jersey paid for Markstrom. And, the teams, including Ottawa, that are looking at this, they are kind of like, “We’re not interested in doing this (or) paying that price if it doesn’t come with an extension.” So now the challenge becomes, can you find an extension that both Ullmark and the Senators are happy with?”

The widely held belief is that Ullmark is on the list of teams that the goaltender cannot be traded to without permission. The caveat is that Ullmark may be willing to waive his no-trade clause to come to Ottawa.

With one year left on a contract carrying an average annual value of $5.0 million, the 30-year-old has the negotiating leverage. He knows that after the Senators lost out on the Markstrom sweepstakes, the goaltending market is depleted. He can dictate the terms of his next contract forcing the Senators into a position where they have to look at: 1) the value of an extension; 2) the assets moved to acquire Ullmark; and 3) prospective future goaltending markets; to determine whether it is in their best interests to pull the trigger on a deal.

One thing that may work in the Senators’ favour is that there may not be that large of a market for Ullmark.

“The interesting thing is, I think that for the top guys… like the Ullmarks of the world, now because New Jersey has got their guy, there’s less of a market for some of this stuff. LA got their guy. There’s less of a market. So, how much does the squeeze affect both the asks and the trade partners?”

It remains to be seen what the Senators are willing to pay for Ullmark’s services, but if they are forced to trade a valuable asset, one way they can recoup some valuable futures is by trading players off the parent roster.

One roster casualty is expected to be defenceman Jakob Chychrun.

If true, trading Chychrun for a future-laden trade return would represent a marked departure from the “needing to make a hockey deal” mantra that has permeated this market.

Trading Chychrun for futures would be one significant way to replenish the farm system. The Senators’ system has been panned as one of the league’s least talented groups. Cynics can point to a Chychrun move as another sign that this rebuild will drag out longer than it should, but I believe that does not have to be the case.

One of the few positions of depth on the roster is left defence and although Chychrun put up some decent offensive numbers last season (14 goals, 41 points), he never really bolstered the top four the way the organization was hoping.

Injuries and the inconsistent defensive pairings never helped the Senators develop a cohesive group, but the team’s porous defensive play bled into the 2023-24 season and raised questions about the group’s makeup. With two other quality left-shot defencemen in Thomas Chabot and Jake Sanderson already entrenched, it makes sense to gauge the market for Chychrun’s services to see what organizations, that need a left defenceman, are willing to offer.

Chychrun has already been linked to the Winnipeg Jets this offseason and with news that prospect Rutger McGroarty is looking for a change of scenery, perhaps that is a move the Senators would do well to consider. Regardless, trading Chychrun for futures or already drafted young assets makes sense.

Thanks to poor drafting and two significant trades that blew up in Pierre Dorion’s face, the farm system is depleted. Trading Chychrun for futures will allow the organization to restock the system with valuable assets they can develop for use themselves or eventually use as trade capital to get the pieces they need later. Additionally, this possibility creates the bonus of clearing cap space that can be reallocated toward filling another position of need.

If Chychrun’s money is used on a right defenceman like Chris Tanev or Dylan DeMelo in free agency, the Senators will bolster their weakest position. Granted, this assumes that a talented option will come here at a similar price point or be a better fit that balances the pairings more effectively.

Is that a significant reach, though?

I don’t believe that it is.

One of the encouraging signs of this front office has been the names it has been attached to over the past year. I recognize and understand that front offices are measured by the moves they make. And yes, although no transactions have been made, it is too early to give credit to the group for anything yet. At the same time, however, it feels like the process has improved markedly from its predecessor and it is only a matter of time before we start seeing some positive results.

It is not much, but with the Stanley Cup wrapping up tonight and the 2024 NHL Draft just days away, it will not be long before the moves start happening with frequency.