What's Price worth?

The Habs have a few remaining pieces to round out their roster for next year, the biggest of which is RFA Carey Price. As reported here earlier, Gauthier probably made a huge blunder by trading Halak and not signing a decent goalie to replace him (Alex Auld certainly doesn't qualify). Gauthier had the right idea by trading Sergei Kostitsyn for essentially the negotiating rights to Dan Ellis (and Dustin Boyd), as Ellis was one of the better goalies available. Maybe not as good as Turco or Nabokov, but certainly on a second tier.

But he still managed to fumble away that opportunity, letting Ellis sign elsewhere for a mere $500k more than what he eventually signed Alex Auld for. Now Price's agent is in the driver's seat, knowing that his client is the undisputed #1 goaltender going forward.

But this mistake aside, what should Price be paid? His cap figure from his original contract stood at $2.2M. But that certainly was inflated by his potential, not by what he had actually accomplished.

And the Habs can't afford much more than that anyway. According to capgeek.com Gauthier has about $4.7M left to sign Price as well as add a couple of forwards. The site makes a few assumptions about who will actually make the roster, including Boyd and Lars Ellers. These are reasonable assumptions, so one only needs to figure out who the two remaining forwards would be to arrive at the remaining cap space for Price.

Those forwards could be any of the following:

• Max Pacioretty ($910k cap hit), another first rounder who could push Benoit Pouliot, Tom Pyatt and Mathieu Darche for playing time.
• Ryan White ($850k), a gritty forward who would be the only right handed centerman on the team.
• Alexander Avtsin ($607k), a big right winger who will only make around $67k playing for the Bulldogs. He could have made much more staying in the KHL, so he must think his chances of sticking with the big club are fairly good.
• Ben Maxwell ($850k), who managed to grab a postseason roster spot with the Habs even though he could have been gaining valuable experience with the Bulldogs' own deep playoff run.
  

The safe bet for the remaining two spots would be on Maxwell and White. That would leave about $3M left for Price. One would hope that Gauthier would leave some cap room for future transactions, and sign Price for a more reasonable $2M cap hit. But Price's agent has almost certainly done the same math, and knows he can get more. And hence the prolonged standoff.

Overpaid, Pt II

In the last installment we examined the contract given to Tomas Plekanec. It looks like he was overpaid, especially for someone who hadn't hit the UFA market yet and wanted to stay a Hab.

Maybe the biggest impact of the Plekanec contract was on the backup goalie position. Earlier we presumed Gauthier wouldnt simply hand the keys over to Price, given Price's inconsistent play. So Gauthier traded malcontent Sergei Kostitsyn for essentially the negotiating rights to Dustin Boyd and, more importantly, Dan Ellis. Gauthier managed to sign Boyd, but Ellis went elsewhere -- for only $500k more than what the Habs ended up giving Alex Auld.

When one looks at the probable lineup for next year, its not hard to see that the Habs only had about $1M to offer a backup goaltender. But here's where the Plekanec contract comes back into play: if the Habs had $500k more in cap room, Ellis or (better yet) Johan Hedberg could have been in play. Both signed for $1.5M per and both are goalies with a much better track record than Auld. Even when Gauthier traded for the negotiating rights to Ellis, he still couldn't close the deal. Gauthier was probably trying to pitch the $1M cap hit contract, and Ellis knew he was worth more.

It doesnt stop there: now that Price's agent knows that Price is the man, his bargaining position suddenly got much better. And the Alex Auld signing only reinforced that position. If Ellis or Hedberg were signed instead, the message to Price and his agent would be: we still have options.

The Plekanec contract may have also affected how Gauthier could improve his corps of forwards. He wanted to leave it mostly intact, but obviously could not afford to re-sign Moore and Metropolit (at least not at their current salaries).

Still, the Habs desperately need size and some grit, something that was only provided consistently by Moen and Lapierre during the playoffs. And that size and grit was available, for a decent price: Adam Burish was signed by the Stars for only $1.15M in cap hit money. His Stanley Cup experience and right handed shot would have been an added bonus too. But instead the Habs signed Dustin Boyd, for $500K less.

So if Plekanec signs for a much more reasonable $4M per, the Habs would have had a chance at Burish, Ellis and Hedberg. Much better than Boyd and Auld.