Avalanche likely bargain hunters as NHL free agency starts Monday

Unless something changes, the Colorado Avalanche will be bargain hunting when the NHL’s free agent market opens Monday morning.

The Avs have a unique set of circumstances, but if what general manager Chris MacFarland said this past weekend at the 2024 NHL draft is true, they have very little room below the salary cap ceiling to work with.

Colorado could spend well past the $88 million limit, for now, because Valeri Nichushkin’s $6.125 million cap hit doesn’t go on the books officially until he is reinstated. He’s currently in Stage 3 of the NHL-NHLPA Players Assistance Program and suspended through at least mid-November. MacFarland downplayed the chances of the team doing that.

The top priority after getting No. 2 center Casey Mittelstadt signed has appeared to be bringing back Jonathan Drouin, who is one of seven Avs players who become unrestricted free agents Monday. Without trading someone off the current roster, that might just not be feasible.

“Can it get across the finish line? I don’t know,” MacFarland said of a potential contract. “I do think that Jonathan was great for us, but I also think the Avalanche were great for Jonathan as well. We’ll certainly stay in touch with (Drouin’s agent) Allan Walsh through the weekend, and we’ll see what happens.”

So, the Avs currently have nine forwards, four defensemen and two goaltenders under contract who were regulars last season. Add in defenseman Sam Malinski and forward Nikolai Kovalenko, who are the best internal bets to become regulars, and there are still three everyday lineup spots open, plus any extras the club would keep.

Even if the Avs filled all of those spots with guys making the veteran minimum ($775,000), there would be less than $500,000 left over. The biggest need is an everyday defenseman. Others include a depth defenseman or two, a No. 3 goaltender and multiple forwards who can either compete for a fourth-line role, be a potential placeholder for Nichushkin or captain Gabe Landeskog if he’s not ready to start the season, or both.

The Avs have excelled at finding bargains with limited funds in recent years, with Drouin being the best example a year ago. Beyond the players who have been pending UFAs for weeks, there are several new names in the class after a round of buyouts and pending restricted free agents not receiving qualifying offers.

Drouin is the headliner, but the Avs will likely see other key players from the 2023-24 team sign elsewhere Monday. The full list of UFAs: Sean Walker, Jack Johnson and Caleb Jones on defense and Drouin, Yakov Trenin, Brandon Duhaime and Joel Kiviranta up front.

Monday is also the first day players who have one year left on their current contract are eligible to sign future extensions. Avs star Mikko Rantanen is one of those players, along with Logan O’Connor and Alexandar Georgiev.

Avs set camp roster: Frozen Four hero Matt Davis will be one of the most recognizable names at the Colorado Avalanche’s development camp this week.

Davis, who helped the University of Denver win its record 10th NCAA title with legacy-building performances against Boston University and Boston College at the 2024 Frozen Four, is one of several undrafted invites to the Avs’ camp, which will take place at Family Sports Center.