The Vancouver Canucks are in desperate need of a successful 2021 offseason, spearheaded by General Manager Jim Benning. After posting 23-29-4 record and finishing at the bottom of the Scotia North Division, players, coaches, and management are well aware that the future of the franchise, and perhaps their own futures, are heavily dependent on this offseason.
Through free agency and the trade market, as well as the upcoming Expansion Draft, the Canucks must be able to assemble a team capable of challenging for a playoff spot in the Western Conference’s favourable Pacific Division. Failure to do so could result in catastrophic changes for the organization.
The question that should be on the mind of the Vancouver faithful is whether or not this front office is up to that daunting challenge. Given the team’s current situation, which includes pending RFA stars Quinn Hughes and Elias Pettersson still unsigned, a handful of long-term crippling contracts, and only two proven NHL defencemen on the roster (one of them being Nate Schmidt, who is reportedly on the trade block), the task seems like an almighty tough road to climb.
In this investigative review, we’ll be looking into last year’s offseason, specifically determining if the past work of the front office shows optimism or pessimism for Vancouver moving forward.
We’ll view the three biggest decisions the Canucks were tasked with last offseason, and evaluate how they turned out given the events of this past year.
Let’s get started.
2020 Offseason Move #1: Letting Tyler Toffoli leave in free agency
Tyler Toffoli was supposed to be the centre piece of an exciting 2020 offseason for Canucks fans. Toffoli was acquired via trade from the Los Angeles Kings a week before the trade deadline, in exchange for Tim Schaller, Tyler Madden, a 2020 second-round draft pick, and a conditional 2022 draft pick. After compiling ten points in ten regular season games, followed by four points in seven playoff games during the bubble, Toffoli had become a fan favourite and appeared destined to become a Canuck for years to come.
However, as we all know, that never came to fruition.
On October 12th, 2020, Toffoli signed a four-year, $17 million deal with the Montreal Canadiens, sticking a dagger into the hearts of Vancouver while showing how poorly Benning and his team played their cards.
After playing only 17 games for the club, Toffoli was gone at the price of $4.25M AAV. For a consistent 20+ goal-scoring, top-six forward with a Stanley Cup ring to his name, regardless of how the Canucks viewed his worth, Toffoli’s new contract with Montreal seemed very reasonable.
To make matters worse, Toffoli went on to have one of his best statistical years in the first year with his new club, whilst also leading the Canadiens to the Stanley Cup Final.
Toffoli tallied 28 goals and 16 assists in 52 games with the Habs during the regular season, a pace which would’ve put him at 44 goals and 25 assists over an 82-game regular season. He also recorded 14 points in 22 games during the playoffs. Not bad for only $4.25M AAV, right?
After giving up four assets for only 17 total games in Vancouver, there’s no doubt that this transaction (or lackthereof) will permanently tarnish Benning’s tenure in Vancouver.
Grade: F
2020 Offseason Move #2: Signing Braden Holtby and letting Jacob Markström leave for Calgary
After three successful seasons of tending the goal for the Canucks, Jacob Markström appeared on his way to an extension. Markström, who was acquired from the Florida Panthers in March 2014, had just come off of a season in which he posted a 23-16-4 record and a career-high .918 SV%, while leading to Canucks to the playoffs. However, like former teammate Toffoli, Markström was unable to strike a deal on an extension with Benning.
On October 9th, 2020, Jacob Markström reached an agreement on a six-year, $36 million deal with the Calgary Flames, a long-standing foe of the Canucks. Despite his numbers declining slightly during his first season in Calgary, Markström’s play remained strong. Much of Markström’s numbers decline can be attributed to the high-scoring North Division, the disorientation behind the Flames’ bench, and the poor play of the team in front of him.
In an attempt to rectify the mistake made by failing to sign Markström, the Canucks needed to act quickly and went to the next option, signing ex-Capitals goalie Braden Holtby later that day to a two-year, $8.6 million contract. Despite hopeful promise for bringing on a former Vezina and Stanley Cup winner in Holtby, expectations far exceeded reality. Holtby only played 21 games during his first year in Vancouver, slumping to a 7-11-3 record, with a career-high in GAA (3.67) and career-low in SV% (.889).
Most believed that Holtby and other netminder Thatcher Demko would be battling for the 1A position at the beginning of the season, but Demko quickly took over the reins. At the end of the day, it should be considered a positive that Demko was able to take over the starting goaltender position with ease. Plus, his new five-year, $25 million contract will likely become a steal later on, especially if he’s able to keep up the stellar performances and numbers moving forward. Not to mention, Demko will only be 30 years old at the end of this contract, while Markström will be 36 at the conclusion of his. However, despite these positives, Benning and co. will now need to deal with Holtby’s $4.3 million AAV cap hit for one more year, which could put a dent in their plans to be aggressive and competitive this offseason.
Grade: C+
2020 Offseason Move #3: Trading for Nate Schmidt
By avoiding the contract extensions of Toffoli and Markström, Benning was able to clear some cap space for a larger transaction. Splash trades or free agency signings often excite and enhance fans expectations for what their team could achieve the following season. However, in hindsight, this is far from what occurred when the Canucks completed a trade with the Vegas Golden Knights to acquire defenceman Nate Schmidt.
On October 12th, 2020, the Canucks sent a 2022 third-round pick to Vegas in exchange for Schmidt, who, at the time, had five years remaining in his six-year, $35.7 million contract. Given his successful past in the league, Schmidt was immediately thrusted into the top-four defensive unit with high expectations of playing big minutes, carrying and distributing the puck, and important special teams roles. Schmidt, however, was never able to find his footing in Vancouver, and stumbled to a year of career-lows in points and plus/minus.
Nate Schmidt is reportedly on the trade block for VAN. He really was not a good fit in their defensive system (to the extent that one actually exists) and saw his transition numbers plummet upon arrival. That big contract might be tough to move. #Canucks pic.twitter.com/RW1lsW8pNs
— JFresh (@JFreshHockey) July 1, 2021
At his $5.950 million AAV, Schmidt takes up 7.3% of the Canucks’ salary cap, second most on the team behind Tyler Myers. As things stand, this number for four more seasons is crippling to the Canucks and their future aspirations of putting together a contending team.
While Schmidt does have some bounce-back potential to improve if he stays in Vancouver, this deal appears to be another issue created by Benning and the front office.
Grade: D+
One year since the vital 2020 offseason, and Benning’s work from last offseason appears to already be a disaster for the long-term future of the Canucks. If the past is something to base the future on, then the Canucks, accompanied by their front office, have an incredibly tough task ahead of them for the next few weeks.
Overall 2020 Offseason Grade: D-
What are your thoughts on how last year’s offseason deals panned out? Will they cripple the organization moving forward? Make sure to drop a comment below!