Ducks owner responds publicly to the Leo Carlsson offer sheet saga
Photo credit: Gary A. Vasquez-Imagn Images
Offer sheets no longer test a general manager's cap sheet. They test whether an owner will write a very large check very quickly.
The Anaheim Ducks matched the Philadelphia Flyers' five-year, $90 million offer sheet to Leo Carlsson on Thursday, per NHL.com.
What stood out was who spoke first. Henry and Susan Samueli, the Ducks owners, released their own statement.
"Matching the offer sheet was an easy decision, as Pat has intelligently left enough cap space to give us the ability to retain Leo. We have extremely high expectations for Leo. We firmly believe he will continue his strong growth trajectory and become one of the truly elite centers in the league, while continuing to make a strong impact in our community.”
- Anaheim Ducks ownership
- Anaheim Ducks ownership
General managers usually handle these announcements alone. Ownership stepped in because ownership was the target.
The weapon was cash, not cap space
TSN's Darren Dreger reported the Flyers structured the deal heavily in signing bonuses, with close to $20 million due when the contract was registered.
Signing bonus money is paid up front regardless of lockouts, buyouts or trades. A team can have cap room and still flinch at wiring that sum in July.
Pat Verbeek's cap management gave Anaheim the option. The Samuelis, who built their fortune through Broadcom, made it real.
Anaheim never disputed the price. It disputed the idea that the price was unpayable.
The next targets are chosen by balance sheet
This reshapes how the next offer sheet gets aimed. Rivals will stop scanning for teams short on cap space and start scanning for owners short on liquidity.
Cap space can be created with a trade in an afternoon. Cash reserves cannot.
Two offer sheets went out this month and both were matched, with the Utah Mammoth matching Barrett Hayton's one-year deal from the New Jersey Devils a day before Anaheim moved.
Both targets belonged to deep-pocketed ownership. That is the pattern nobody has named yet.
Carlsson, 21, scored 29 goals and 67 points in 70 games and now carries the highest cap hit in NHL history at $18 million.
The Ducks kept him because the bill could be paid, not because the math was elegant.
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