After signing Filip Hronek to a $7.2 million average annual value (AAV) extension this past week, the Vancouver Canucks now have a little over $17 million in cap space to fill out their roster for next season. This leaves limited funds to retain key unrestricted free agents (UFAs) like Nikita Zadorov, Dakota Joshua, Elias Lindholm, and Teddy Blueger. It's likely that the Canucks will lose at least two of these players unless they can clear some salary in the coming weeks.
Unfortunately, moving contracts is easier said than done. General Manager (GM) Patrik Allvin has already tried shopping Ilya Mikheyev's $4.75 million contract without success. Now, Mikheyev's agent Dan Milstein (often referred to as the Canucks' unofficial assistant GM) is involved, working to facilitate a trade. Mikheyev has a 12-team no-trade clause, which likely excludes non-contending teams with cap space like the Anaheim Ducks, Chicago Blackhawks, and San Jose Sharks.
Here are three potential trade destinations for Mikheyev:
With Kyle Dubas now leading the Penguins, there might be interest in reacquiring Mikheyev, whom Dubas signed in 2019 with the Toronto Maple Leafs. Mikheyev had a career-high 21 goals and 32 points in the 2021-22 season with the Leafs. His speed and versatility make him valuable, and Dubas has a positive history with him, having supported him through a significant wrist injury in 2019. Mikheyev's addition could strengthen the Penguins' bottom-six and bring more speed to an aging forward group. However, Pittsburgh also faces cap constraints, which could complicate a potential deal.
New Jersey Devils
The New Jersey Devils showed interest in Mikheyev during his 2022 free agency and might be interested again, especially with Sheldon Keefe as their new coach. Keefe coached Mikheyev in Toronto, where he thrived in various roles, including as a top penalty killer. The Devils are seeking a bottom-six forward, and Mikheyev's familiarity with Keefe's system could make him a good fit. GM Tom Fitzgerald might consider Mikheyev as a valuable addition, especially given his successful past under Keefe's coaching.
Calgary Flames
The Canucks and Flames have had significant trade interactions recently, including deals for Nikita Zadorov, Andrei Kuzmenko, and Elias Lindholm. Calgary, with over $23 million in cap space, could absorb Mikheyev's $4.75 million contract. Mikheyev could add depth to their roster and reunite with Kuzmenko, with whom he showed good chemistry in Vancouver. The Flames might be willing to offer a mid-tier prospect or a third-round pick for Mikheyev's services.
Cap Space: The Biggest Asset in a Mikheyev Trade
The Canucks will likely be selling low on Mikheyev due to his underwhelming goal-scoring performance, with just one goal in 2024 and a long scoring drought. This reduces his trade value, making a third or fourth-round draft pick a likely return. The primary benefit of trading Mikheyev would be the cap space freed up, allowing the Canucks to address other needs. As the draft and free agency approach, the situation remains fluid, and the Canucks will look to navigate their cap challenges effectively.
