The New York Islanders Should Create Cap Space
The New York Islanders need to create salary cap space to use during the offseason if the team looks to retool rather than rebuild. Cap space is essential to improving any team, especially this Islanders’ team that severely lacks offense. Removing ineffective players and replacing them with potent scoring options can bring the Islanders back to the top-four team that nearly made the Stanley Cup Final in back-to-back years.
The New York Islanders have a projected $13,755,833 in cap space for the 2022-23 NHL season. They will have to fill eight roster spots, not including filling out Bridgeport. Freeing up and effectively using the cap space will make the Islanders candidates for the 2023 NHL Playoffs. Therefore, fan favorites must be on the move to make the team better — short-term pain for long-term gain is the motto for Lou Lamoriello.
Kyle Palmieri
Hero to zero can summarize Palmieri’s tenure with the New York Islanders. A dynamic performance in the 2021 NHL Playoffs following the trade from New Jersey made fans call for the Islanders’ to re-sign the forward. Nine goals en route to a Game 7 loss at the hands of the Tampa Bay Lightning, Palmieri seemed like a focal point to the Islanders’ offense for the next half-decade.
Palmieri signed a four-year contract with an average annual value of $5 million in the summer of 2021. It has been a disaster. Seven goals, 10 assists for 17 points in his first 42 games is the type of play that leaves a bitter taste in fans’ mouths. Dumping his contract would provide ample cap room this offseason.
Phil Kessel and Alexander Radulov are veteran forwards entering free agency. Kessel or Radulov at a reduced rate would be better options than the struggling Palmieri. It will be costly to move on from Palmieri early on into his contract; however, with teams like the Seattle Kraken and Arizona Coyotes willing to take on bad contracts for picks, a deal can happen.
Semyon Varlamov
Too much of a good thing is a reality for the Islanders. Semyon Varlamov and Ilya Sorokin sharing the starting role was great last season. But with Varlamov having another year remaining on his contract at $5 million, Sorokin is ready to take the reins as the primary starting goalie. Paying a backup starter-money is not feasible for a contending team.
Many NHL teams are in the market for a goaltender. The Edmonton Oilers, Toronto Maple Leafs and Washington Capitals are some teams looking for an upgrade in net. In the offseason, signing a serviceable and cheap backup goaltender should prove easy, giving the Islanders more flexibility financially.
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Moving on from Palmieri and Varlamov will be hard; yet, freeing an extra $10 million in salary-cap space will make the pain worth it.
Assuming the two players are gone, a total of $23,755,833 in cap space will be available in the summer. A complete overhaul of the offense could happen, bringing the Islanders back to contention.
