For Vince Dunn and the Kraken, new 4-year deal ‘played well for both parties’

Vince Dunn says the Kraken “changed my career, my life for the best” by picking him two years ago in the expansion draft, and that his new contract allows both to move forward in strong positions.

Indeed, last Friday’s four-year, $29.4 million deal, beyond making Dunn the team’s highest-paid player in annual salary, allows the Kraken to get on with short-term life without drastically impacting the franchise’s broader future. That’s because while Dunn’s deal was for about the expected annual dollar amount, the four-year term was shorter than many anticipated and protects the team by not tying it to the defenseman beyond his 20s should his production decline.

And, as Dunn, 26, alluded to Wednesday in a conference call with local media members, the contract is largely a bet made on himself as it offers another shot at the open market by age 30. By then, any sustained or improved production could allow Dunn to further cash in on increased NHL salary cap limits. 

“There was never really a direct number of years that I wanted to sign for necessarily, and I think (general manager) Ron (Francis) and (assistant GM) Ricky (Olczyk) were kind of back and forth with what they wanted to do,” Dunn said. “So, I think this played well for both parties. In four years, it brings me to 30 … and that doesn’t mean that I’ll try to run away at 30. It’s a good age to renegotiate for both sides. There’s going to be a lot of different changes with maybe a possible expansion team or the cap rising. 

“So, I think it just makes things easier for both sides over the next four years. And I’ve talked to them before about this: By no means do I want to leave after those four years. I’ve loved every single moment I’ve been a part of this organization. They changed my career, my life for the best two years ago.”

Dunn’s career leapfrogged forward this past season when he scored 14 goals and added 50 assists to finish second on the team in points behind Jared McCann while securing Kraken MVP honors. Playing on a top pairing with Adam Larsson, he also helped “quarterback” the power play and showed improved defensive skills in helping the team advance within a victory of making the Western Conference final.

The NHL recently raised the cap ceiling from $82.5 million to $83.5 million, but that’s expected to grow as high as $88 million a year from now. League revenues declined during the COVID-19 pandemic, but those shortfalls have been mostly recuperated to where putting expansion teams in Houston, Salt Lake City and even Atlanta again has been openly discussed.

Any expansion and the fees involved — team owners split the $650 million paid by the Kraken upon their entry two years ago — would further bolster the NHL’s economic health and likely cause the cap to be raised even higher. The higher the cap, the more money theoretically available to pay free agents, which is why many big names have signed deals for four years or fewer this offseason when contracts for top players commonly run as long as seven or eight. 

In the Kraken’s case, the $7.35 million average they’ll pay Dunn annually brings them within $1 million of this year’s cap limit and — barring salary-shedding trades — effectively curtails their ability to make further impact moves. Dunn feels the team should be OK as is.

“For us, I think having a goal to make the playoffs again is very reasonable and very achievable,” Dunn said. “We’ve lost some pieces, but we’ve definitely added some really good parts to the team.”

Beyond 2023-24, the Kraken limiting Dunn’s deal term hedges bets and conserves future cap space — knowing bigger contracts await Matty Beniers and potentially top draft picks such as Shane Wright and Ryker Evans.

There had been speculation about the Kraken extending Beniers this summer, though the team already pushing cap limits makes that unlikely. His three-year entry level contract expires after this coming season, upon which he’ll become a restricted free agent (RFA) and — given his recent Calder Trophy win — be due a significant raise over the $897,500 he currently averages. 

Extending Beniers now would have given the Kraken a chance at buying out some of his RFA and arbitration-eligible seasons for potentially less money by guaranteeing him an earlier raise. But the team is well-positioned, financially, for now, with contracts for Alex Wennberg, Chris Driedger, Justin Schultz and Jordan Eberle due to come off the books next summer, and those for Yanni Gourde, Larsson, Brandon Tanev and Brian Dumoulin expiring a year after that.

Of course, the Kraken might want to keep some of those veterans and could offer extensions. But they aren’t obligated to unless it makes sense.

Overall, no Kraken player is under contract beyond the next four years — Dunn’s becoming the latest to run the team’s max through the 2026-27 season along with those for McCann, Andre Burakovsky and Philipp Grubauer.

Combined with the expected significant cap increase over the next five seasons, and the team signing Dunn, there is still ample room and flexibility to accommodate extensions of Beniers, Wright and others well beyond what’s already on the books. Plus, it gives them a Stanley Cup-winning defenseman entering his prime with production ranking among the NHL’s elite at his position.

Dunn wouldn’t offer up any personal goals for his future production on the ice beyond not wanting to “drop off by any means” from last season.

“I think I, more or less, want to put the team first like I did last year and like everyone did last year, and focus on team goals,” Dunn said. “I think we’re so close to achieving something really special, and I think that’s where everyone’s focus should be.”