San Jose tenders Qualifying Offers to Setoguchi, Joslin, and Zalewski

The San Jose Sharks tendered qualifying offers to three notable restricted free agents today, ensuring that the organization will have the rights of Devin Setoguchi, Derek Joslin, and Steven Zalewski heading into free agency, which is set to begin on July 1st.

If either of these players rejects San Jose's initial offer and signs a contract with another team, San Jose will have an opportunity to match that contract, including all of its provisions (bonuses, no trade clauses et cetera) in order to retain their services.

If San Jose does not elect to match the contract, they would receive compensation in the form of draft picks for these players services. Based on the salary cap increase, here are the estimated numbers that Derek Zona of Copper and Blue expects to see at each level:


Estimated RFA Compensation

Salary Range

Compensation Teams N/A
League Min.
$1,029,448
No Compensation
None
$1,029,449 $1,559,770
2011 3rd Round Pick
TOR, BOS, CGY, COL, PIT
$1,559,771 $3,119,539
2011 2nd Round Pick
CGY, MIN, MON, NJD, PHI, WSH
$3,119,540 $4,679,310
2011 1st & 3rd Round Pick
TOR, BOS, CGY, COL, PIT
$4,679,311 $6,239,080
2011 1st, 2nd, & 3rd Round Pick
TOR, CGY, MIN, MON, NJD, PHI, WSH, BOS, COL, PIT
$6,239,081 $7,798,850
2011 1st, 2nd, 3rd Round Pick & 2012 1st Round Pick
TOR, CGY, MIN, MON, NJD, PHI, WSH, BOS, COL, PIT
$7,798,850 League Max.
2011, 2012, 2013, & 2014 1st Round Pick
TOR

The teams listed under the N/A category currently do not have the necessary draft picks in order to extend an offer sheet at that level. Under the CBA's rules, a team who extends an offer sheet to an unrestricted free agent must have their own draft pick available at the relevant round required to compensate the player's initial team.

For example, the Minnesota Wild traded their 2011 second round draft pick with a pair of other players to the Boston Bruins in exchange for Chuck Kobasew. Unless they are able to engineer a trade with Boston in order to re-obtain that draft pick, they would be unable to extend offer sheets in the $1.55MM-$3.11MM and $4.67-$7.79MM range.

San Jose currently has their own draft picks in the 2011 NHL Entry Draft's first three rounds, and would be able to extend an offer sheet to any restricted free agent in this year's class.

Daniel Rahimi, Matt Jones, and Michael Vernace were not extended qualifying offers today, making them unrestricted free agents on July 1st. Rahimi was acquired from Vancouver last summer in a deal that saw Christian Ehrhoff and Brad Lukowich moved for salary cap purposes, leaving Patrick White the lone fruit remaining from that deal.

In other Sharks news, David Pollak of Working the Corners is reporting that Doug Wilson and upper management are still in contract negotiations with Manny Malhotra. Malhotra was a great addition to San Jose last season, providing big minutes on the penalty kill, succeeding at a phenomenal 62.5% in the faceoff circle, and chipping in 14 goals throughout the year. The two-way third line center has a booming slap shot that produces big rebounds, and would be an excellent addition to the team during 2011.

Whether or not he will be able to be re-signed is unknown at this point, with the Sharks having $8.965MM to fill out the roster. Nine forwards, six defenseman, and one goaltender are currently under contract at the NHL level.

Jay Leach has also been offered a contract to play with San Jose. It's a two-way offer, meaning that the Sharks would be able to move him between their minor league affiliate in Worcester and the big club depending on needs throughout the year. It's a strange move considering the signing of Niclas Wallin this weekend, as Leach is nothing but another bottom pairing defenseman whose age makes development all but an unachievable event at this point of his career. Bringing in a younger defenseman, such as Mike Moore, in the event a call up is required seems like a better use of resources for the organization considering Leach would be taking away a younger defenseman's playing time in Worcester.

Masterton nominee Jed Ortmeyer was told he would not be extended a contract this offseason.

 

Go Sharks.

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