Monday News and Notes

After a slow week around the NHL, the pace has quickened with players signing to new teams or inking extensions.

This week will also be very interesting because arbitration hearings begin. 

For those of you who are unfamiliar with arbitration, it is a process in which a restricted free agent and an organization are unable to come to terms on a contract and use a third party (court of law) to decide what the salary should be. Usually, the player is asking for more than the team is willing to pay and the arbitration ruling is somewhere in between what the player was asking for and what the team was asking for. 

Anyways, here's whats going on in the NHL:

Update: Toronto avoids arbitration with D Carl Gunnarsson by resigning him to a three year deal worth $9.45 million ($3.15 million cap hit annually)

• Jaromir Jagr is expected to sign a one year deal with the New Jersey Devils (should be announced Tuesday)

I suppose New Jersey can afford to take the gamble on the 41 year old after the Ilya Kovalchuk debacle (which I covered here). Personally, I don't like the move. New Jersey gets an older and slower player who might be signing his last contract in the NHL. As their roster currently stands, their average age is 29.5 and with the addition of Jagr, that number shifts to 30. This puts the Devils as the oldest team in the NHL. 

The additions they have made this summer (Clowe and Ryder) are additions that a contending team would make to bolster their already strong roster. Supplemental players is a good way to classify them as they can produce but won't necessarily be your top players. 

However, the Devils have signed Clowe and Ryder to come in and be the go-to guys on a team that'll be missing Ilya Kovalchuk. Clowe's contract (5 years, $24.25 million with an average of $4.85 million annually) is already being mentioned as one of (if not the) worst contracts handed out during this summer's free agent frenzy. 

What makes this situation even more interesting is the fact that the Devils have to forfeit their first round pick this year. If you recall, they were forced to forfeit one first round pick in one of the next four years from 2010 as a result of the 17 year contract they tried to sign Ilya Kovalchuk to.

Should the Devils struggle this year, look for them to move Jagr, who is the only one of the aforementioned players on a one year deal, and could probably fetch them a first round pick come trade deadline.

• The Edmonton Oilers resign C Sam Gagner to a three year deal worth $14.4 million (annual average of $4.8 million)

Another big signing is the Oilers locking up Gagner for three years. It was reported that Gagner was looking for $5.5 million annually while the Oilers were hoping for $3.5 million. It isn't surprising that they agreed somewhere in the middle. Something to note is that Gagner has receives a no movement clause in year two but not in year three which allows the Oilers the flexibility to trade him in his last year. 

At an average of $4.8 million annually, this is a pretty good deal for the Oilers. They lock up a young, 23 year old center (hard to believe Gagner is only 23...). Gagner has put up five consecutive seasons of scoring 40+ points and had a breakout year in 2012-2013 where he scored 38 in 48 (0.79 ppg average). 

This deal looks good for Edmonton because they retain a young player that has shown upside but have structured the contract in such a way that IF he fails to live up to expectations, they can move him in the last year where Gagner will be 25-26 years old. Not to mention his cap hit of $4.8 million could look very good should he exceed expectations. 

• The Ottawa Senators resign D Patrick Wiercioch to a three year contract worth $6 million (annual average of $2 million)

Another solid signing. Wiercioch was second in rookie defenseman scoring this past season. This upcoming season will see him get a shot in Ottawa's top four defense corps. The 22 year old is a big body at 6'4 but is known more for his smooth skating and offensive abilities. 

If he can continue to bulk up and work on his defensive game, this deal could be a steal for the low budget Senators. The deal is essentially low risk, high reward if Wiercioch flourishes in his increased role on Ottawa.

• The Philadelphia Flyers sign C Sean Couturier to a two year extension worth $3.5 million ($1.75 annually)

Great signing for Philadelphia. Couturier is only 20, has plenty of upside and this contract keeps him in a Flyers uniform for the foreseeable future. The cap hit is more than friendly and will give Couturier an opportunity to cash in big time when the deal expires. 

• The Winnipeg Jets resigned RFA Bryan Little to a five year deal worth $23.5 million with an average of $4.7 million annually.

Very similar to Gagner's deal in Edmonton, Little gets a little more term to his contract (he is also two years older than Gagner). Playing in all of Winnipeg's 48 games last season, Little registered 7 goals and 25 assists. Look for him to improve on those numbers with the additions of Michael Frolik and Devin Setogouchi. Both players should help the Jets score some more goals; a welcome trend Jets fans would love to see. 

That's it for now but be sure to check back here. I'll be posting updates as they come in.

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Thanks for reading!