Blackhawks latest trade is all about financial flexibility

The Chicago Blackhawks pulled the trigger on somewhat of an unusual trade on Thursday. The trade involved goaltender Laurent Brossoit, who had been on the block since returning from lower-body surgery.

But this trade was far more complex than just sending Brossoit to the San Jose Sharks. This deal was about financial flexibility.

In addition to Brossoit, the Blackhawks sent former first-round pick Nolan Allan and a 2028 seventh-round pick in exchange for defenseman Jake Furlong, a 2028 fourth-round pick, and Ryan Ellis’ contract.

Wait a minute, Ryan Ellis’ contract?

That’s the crux of this deal. The Blackhawks need the financial flexibility of meeting the cap floor next season. The club will be shedding numerous contracts this offseason. As such, the team may struggle to meet the requisite cap floor.

According to PuckPedia projections, the Blackhawks have just $56.4 million committed to next year’s cap allocation. That is well below the cap floor, which will likely hover around $78 to $80 million.

It’s worth pointing out that Ryan Ellis hasn’t played since 2021. However, his contract is still officially on the books as the cap recapture penalty discourages players from retiring before their contracts expire. So, such players have their contracts bounce around the league until they expire.

Beyond Ellis’ contract, the Sharks also have the contracts of former Montreal Canadiens goalie Carey Price and former captain Logan Couture.

For the Blackhawks, they still have Shea Weber’s contract on the books. However, that deal will finally expire at the end of this season. Yes, Shea Weber’s highly controversial 14-year deal will reach its conclusion this summer.

That’s why the Blackhawks took on the remainder of this year and next year’s cap hit of Ellis’ deal. Chicago has four impending UFAs in its forward group: Captain Nick Foligno, Jason Dickinson, Ilya Mikheyev, and Sam Lafferty. Except for Foligno, it’s a good bet none of the aforementioned UFAs will be coming back.

On the blue line, Connor Murphy and Matt Grzelcyk will also become UFAs. Murphy has been the subject of ongoing trade speculation, while Grzelcyk may return next season. If Murphy, Dickinson, Lafferty, and Mikheyev do not return, the Blackhawks could save about $14.6 million against the cap next season.

Of course, a good chunk of that will go towards Connor Bedard’s next contract. But the Blackhawks may still struggle to hit the cap floor. That’s why adding Ellis’ contract makes sense.

Lastly, if the Blackhawks found a cap-strapped team in desperate need of space, moving Ellis’ contract could be an option for Chicago to land additional resources, such as draft picks or another prospect.

Blackhawks give former first-rounder a fresh start

As for the other moving parts in this trade, the Sharks' acquisition of Brossoit could be a strategic move. The Sharks could dangle Brossoit as an option for a team looking for help at the trade deadline. Otherwise, the Sharks lose nothing by acquiring the final year of Brossoit’s deal. Perhaps he sticks with the organization moving forward, at a lower cap hit, of course.

The most interesting part here is Nolan Allan. Allnas was the 32nd overall pick from the 2021 NHL Draft. While technically still a first-rounder, you could argue he’s really more of a second-rounder. Be that as it may, Allan’s path to the NHL on the Blackhawks blue line isn’t clear-cut.

Even if the Blackhawks wanted Allan to play at the NHL level, he’d be in the bottom pairing at best. Plus, Sam Rinzel, Kevin Korchinski, and Etan Del Mastro all seem ahead of him. So, there’s really no clear path for Allan.

Plus, Allan is in the final year of his entry-level contract. That means the Blackhawks would have to re-sign him and expose him to waivers if he were ever sent down. That’s something the Blackhawks won’t risk. There’s a very good chance that a blueliner like Allan would not clear waivers.

The Sharks could be shedding three or four UFA defensemen this summer. So, it makes sense to add someone like Allan to their roster.

As for Jake Furlong, the former fifth-round pick figures to be more of a move to bolster the IceHogs’ depth. There’s little chance Furlong cracks the NHL lineup. He could somewhat of insurance, but the Blackhawks’ depth chart is so deep right now that Furlong would be a real long shot to ever see NHL action.