The Tampa Bay Lightning traded for Ryan McDonagh on Wednesday, May 22 in a move that could put the future of franchise icon Steven Stamkos within the organization in peril, although he might find a way to stay in Florida with the Panthers.
Although the NHL announced an increase of the salary cap up to $88 million, the Lightning will still face a significant challenge in re-signing their captain Steven Stamkos, and other pending free agents.
That’s a reason for a potential Stamkos exit from Tampa Bay, although Eric Beaston of Bleacher Report thinks he will stay in Florida… by signing with the Stanley Cup finalist Panthers.
Beaston mentions other teams, such as the Toronto Maple Leafs, as potential suitors, but he ultimately landed on Florida, depending on how they deal with a few of their pending free agents.
“There are the Florida Panthers, a team staring down its first Stanley Cup title but facing the very real likelihood that it loses some combination of Sam Reinhart, Nick Cousins, and Vladimir Tarasenko,” Beaston wrote. “Losing those players would create the necessary cap space to make such a signing possible.”
According to Evolving Hockey’s contract projections, Stamkos could get a deal with an annual cap hit around $8.5 million per year on the open market.
Steven Stamkos’ Intriguing Free Agency
Stamkos just completed another impressive season with the only franchise he’s ever known, the Lightning of Tampa Bay.
The Bolts captain scored 40 goals and assisted 41 in 79 games despite being 34 years old, averaging a sizable 18:13 minutes per game in 2024.
Stamkos will become an unrestricted free agent on July 1 after his eight-year, $68 million contract expires. Stamkos has amassed 1,137 points from 555 goals and 582 assists in 1,082 regular-season games throughout his 16-season career with the Lightning.
He’s also produced a monster 101 points in 128 postseason games while winning two of the four Stanley Cup Final series he carried Tampa Bay through.
During his exit interview on May 3, however, Stamkos expressed optimism about re-signing with Tampa Bay instead of looking elsewhere.
“We’ll have to have those discussions, but I’m certainly excited that we’re going to have those. Then we can go from there,” Stamkos said. “At the end of the day, winning is still what fuels me. Being a big part of that culture fuels me.”
The Panthers have not been remotely as successful as the Lightning but they have turned into a strong contender of late with back-to-back Stanley Cup Final appearances.
Cap Constraints Could Force Stamkos’ Exit from Tampa Bay
The recent trade for defenseman Ryan McDonagh by the Tampa Bay Lightning could complicate their efforts to re-sign Stamkos.
The acquisition added McDonagh’s $6.75 million cap hit to the Lightning’s payroll, leaving them with approximately $5.3 million in projected cap space for the next season.
General Manager Julien BriseBois acknowledged the challenges posed by the salary cap, although he sounded optimistic about finding a way to retain Steven Stamkos.
“We still have some cap space. Steven Stamkos isn’t signed yet. That’s ongoing. We’re still able, in my mind, to get something done that makes sense for the organization with Steven even after acquiring Ryan McDonagh,” BriseBois said on May 21, via Chris Krenn.
As Beaston sees it, there is an interesting case for the Maple Leafs too. Stamkos’ origins could make for a happy return home north of the border to play in Canada with Toronto.
“Despite being a Leafs killer for the majority of his career, and going to battle with the team, Stamkos grew up in Ontario as a fan of the team, as most his age did,” Beaston wrote. “Depending on what happens with Mitch Marner and the will it or won’t it happen extension, he would provide the championship experience the team lacks and potentially get the organization over the six-decade roadblock it has faced since its last Stanley Cup title.”
However, Beaston acknowledged at the end of his column that “Staying in Florida and closing out his career with a championship contender feels like the best option.”
