Quote:
Originally Posted by Geddy Lee
I remember that dramabomb like it was yesterday. I had no idea what the right play was then and I still don't, honestly.
The Buffalo Sabres had seven days to match the Edmonton Oilers' stunning seven-year, $50 million offer to 23-year-old restricted free agent Thomas Vanek, but the Sabres didn't even need seven minutes to match the offer. "The message is that we aren't going to become a farm team for the other NHL teams," said Buffalo general manager Darcy Regier.
lol @ "sending messages"
The Sabres, the NHL's No. 1 regular-season team in 2006-07, had already lost Chris Drury, Daniel Briere and Dainius Zubrus to free agency and couldn't afford to lose another potential superstar. As it is, most of the top free agents are already claimed, and even with Vanek still on the roster, the Sabres still need to bring in at least one more center.
Bold = why they matched
The Oilers, frustrated by their inability to attract unrestricted free agents this summer, offered Vanek $5 million in the first two seasons and $6.4 million over the last five, plus $8 million in signing bonus money over the first two seasons. That's a salary-cap hit of $7.14 million..."I think that Thomas was shocked," Steve Barlett said. "I kept telling him I was going to get him a deal, and I don't think he believed me. I don't know if I believed it myself."
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I was about to comment on this, but didn't want to because I'm sure we've been down this road before, and because it'll probably lead to a very long and drawn out argument, but...
Regier should have let Vanek walk. First, because he wasn't worth that kind of money. Of course this is much, much easier to say in hindsight, rather than right after his 43g/87pts/+47 season as a 23-year old. But compensation at that time was actually 4 1st round draft picks. I just thought that the chance to get 4 1st round picks from the Edmonton Oilers is too good a chance to pass up. It's like doubling the Kessel trade.
But Regier's hand was forced because he already lost off of his UFA's (probably worked out for the better, but still), so he had to worry about what kind of team he could field in 2007. The other crappy part for him, is that since the free agency period is after the Draft, the first pick he gets in compensation is the following year. So you get nothing for a full year for Vanek, then it's still just draft picks who need time to develop, most aren't ready to step in right away. Plus with most of the free agents already signed, there wasn't much of a chance for him to fill his roster with quality players.
Vanek would have helped the Oilers become a slightly better team, but how much? Would his production over Penner (who they signed after missing out on Vanek), or other replacement players, put them too much further ahead? Meanwhile the Sabres would be sitting with Edmonton's 1st rounder in 2008 (around #22, Eberle), 2009 (around #10, Paajarvi-Svensson), 2010 (likely top-3), and 2011 (likely top-10).
It might have been the right move to not match, but the person who had the most to gain by matching was actually Darcy Regier, as it would be unlikely that he'd still be employed with the club by the time the compensation bore fruit for the Sabres.