Blues' Brilliant Offer Sheet Gamble With Broberg, Holloway – Hockey Writers – St Louis Blues

The general manager of St. Louis Blues Doug Armstrong made a big deal Tuesday morning, using the NHL's latest tradition and signing two Edmonton Oilers players to offer sheets: forward Dylan Holloway, 22, and defenseman Philip Broberg, 23. The Oilers now have seven days to match the sheets what is offered. If they don't, they're the right compensation: a second-round draft pick for Broberg, and a third-round pick for Holloway. In that event, both players will join the Blues next season on two-year contracts.

How Offer Spreadsheets Work

The NHL allows offer sheets for players who are Restricted Free Agents (RFAs). Any team in the league can sign a player to an active offer sheet. Once signed, the team that owns the player's rights has one week to “match” the offer sheet, signing him to the same contract to remain in their organization. If the offer sheet is not matched, then the player changes teams and the team that owns the player's rights receives compensation based on the size of the contract.

The Blues gave both Holloway and Broberg the highest possible AAV in their respective categories, which is common in these negotiations (as it theoretically makes the offer sheets harder to match). The Oilers are already over the salary cap and both players are still unsigned. Now, newly installed general manager Stan Bowman has a week to figure out how to spend nearly $7 million in salary cap space if he wants to keep the services of both players.

Offer sheets are often the “third rail” of NHL player moves, with general managers often refusing to use them out of respect for the professionals. But Armstrong has used his creativity here, targeting two young players who could be big additions to his core and taking the risk of getting a contender's salary. Now, what has been a very quiet season for the Blues, apart from Alex Steen's succession plan, has become very interesting, at least for the next week.

Broberg and Holloway Fit Perfectly

As for the players the Blues are trying to land, both fit well into the club's long-term plans. The franchise is in the midst of a rebuild when Armstrong refuses to clearly label the rebuild. However, while the names may not be clear, what is clear is that the team wants to add young talent to build a new core around franchise stars like Robert Thomas and Jordan Kyrou and future prospects like Dalibor Dvorsky and Jimmy Snuggerud. Broberg and Holloway would both fit that mold well.

Both players are in their early twenties, former top draft picks, and are thought of as young top players with high ceilings. Broberg, the eighth pick in 2019, will be the best young defenseman in the Blues program by leaps and bounds and could quarterback one of the team's power play units early this season. Holloway, the 14th overall pick in 2020, first emerged as a threat in the playoffs, where he played in all 25 games for the Oilers and scored five goals. It is likely that both of these players will see significant playing time for the Blues this season. And in deals reminiscent of the ones Armstrong signed for Jakub Vrana and Kasperi Kapanen recently, the two-year contract length protects the Blues if these risks don't pan out. It's a calculated and smart gamble from Armstrong.

Are the Oilers the Same?

Now the focus is on Edmonton, where Bowman and company have a week to decide if they can match the contracts. Already pressured by the salary cap, their focus has been on re-signing superstar Leon Draisaitl, whose contract will likely give him the highest annual value (AAV) in the league — at least until Connor McDavid signs his extension next summer. . The first season of Draisaitl's new contract will add a second season to both of these offer sheets, making it difficult to match.

By signing two players at the same time to the same team, Armstrong gave his former rival Bowman a very difficult puzzle to solve. It seems difficult for the Oilers to match both players. Given that Holloway has been an integral part of the team's postseason frontcourt, the Oilers may be eager to keep him. Broberg has yet to fully establish himself as part of the core, and has only played 10 games in the postseason. Paying him as an established NHL defenseman for two seasons while sporting razor-thin caps will be difficult to do, and if he struggles to find his place, he could quickly become public enemy in Alberta. My best guess is that Edmonton matches the offer sheet to Holloway and offers Broberg to the Blues.

Armstrong Still Cooks

For many Blues fans, the biggest benefit of this news will be renewed faith in the club's management. In recent seasons, doubts have begun to spread about Armstrong's continued ability after more than a year at the helm. But the move is both silly and smart, reminding the 59-year-old executive at his best. It will take a week to know if these moves work for the Blues, but it's clear that Armstrong is still determined to build a better future for his franchise.