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The Tampa Bay Lightning and captain Steven Stamkos are running out of time to agree to an extension. The forward will become a free agent on July 1 if they do not reach an agreement by the end of June.
According to Stamkos’ agent Don Meehan, via text message to Pierre LeBrun of The Athletic, the veteran will in fact reach unrestricted free agency when the NHL market opens at the start of July.
“(Stamkos) will be a free agent on July 1,” Meehan texted LeBrun on June 28.
Gabby Shirley of Bally Sports Florida provided additional details from Lightning General Manager Julien BriseBois’ perspective. The GM held a Zoom meeting on June 28 before the draft and Shirley shared some notes.
“As we stand here right now, we haven’t been able to reach an agreement yet,” BriseBois told reporters, according to Shirley. “I don’t know if we will be able to reach an agreement but we met with Steven’s agent again yesterday and both sides are still interested in getting a deal done but we have not been able to agree to terms that are satisfactory for both sides. I think, at this time, it’s probably best if I leave my comments to that for the time being.”
Can the Lightning Afford to Re-Sign Steven Stamkos?
Stamkos, 34, has been a cornerstone of the Lightning franchise for over a decade, and it’s hard to envision Tampa Bay without him.
The captain led the franchise to four Stanley Cup Finals and won two. Despite that, financial issues might make it impossible for them to reunite, leading to a breakup in this relationship.
Stamkos just completed an eight-year, $68 million contract with the Lightning. The captain scored 40 goals and 41 assists for 81 points in 79 games during the 2023-24 season. Stamkos has only played for Tampa Bay since he entered the NHL in 2008 as the No. 1 overall pick.
The Lightning, however, boasts a very tight cap situation, and Stamkos projects to earn as much money as his production merits.
Evolving Hockey projects Stamkos to sign a four-year, $8.7 million deal whether that’s in Tampa Bay or elsewhere. On the other hand, The Athletic projects the forward to sign a contract with a slightly lower $8.4 million AAV.
CapFriendly projects the Lightning to enter the offseason with $5.3 million in cap space and only 18 of 23 players under contract. Even if Stamkos gives a hometown discount to Tampa Bay, based on the projections above, the Lightning could still fall short of meeting his demands.
Red Wings & Predators Enter the Steven Stamkos Sweepstakes
LeBrun’s report regarding Stamkos’s availability dropped just hours after the insider shared another interesting nugget of information while appearing on TSN’s Insider Trading on June 26.
LeBrun mentioned that several teams are eager to talk to Stamkos and his agent. He specifically mentioned the Detroit Red Wings and the Nashville Predators as the two franchises interested in the lifetime Lightning player.
“Teams are lining up, hoping to talk to Steven Stamkos and his agent, Don Meehan, come Monday when the market opens,” LeBrun said. “Tampa is going to have to change their offer and that still can happen between now and Monday. Among those teams I am told is the Nashville Predators.”
LeBrun expanded on what it might take for Tampa Bay to reach an agreement with Stamkos before it’s too late.
“From talking to other leagues sources, here’s what I can gather as of now: A short-term deal doesn’t work because of Tampa Bay’s cap situation, so the concept, which I believe both sides have embraced to some degree, is to go longer term to bring down the average annual value. That’s been the focus of talks. And again, I don’t know exact numbers being exchanged.”
In LeBrun’s eyes and according to his intel, the strategy employed by Tampa Bay is paying Stamkos the same figure other franchises will be able to offer him, only over a larger period.
“My guess is around $3 million or so over eight years,” LeBrun guessed when discussing the Lightning’s potential offer to their captain. “But that’s not going to cut it. I would imagine Newport Sports would want something closer to $4 million to $5 million per year depending on how long the term is.”
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