Islanders GM Mathieu Darche sees bright future, financial flexibility in upcoming seasons
Islanders GM Mathieu Darche. Credit: Newsday/Howard Schnapp
ST. LOUIS — Mathieu Darche already likes what he sees for next season. And for 2027-28. And, possibly, moving ahead from there, though that strongly depends on what happens with Matthew Schaefer.
Not that the Islanders’ first-year general manager is gazing at crystal balls to foretell the future, but given his expertise in managing the salary cap, he likes how the Islanders are financially positioned to shape their upcoming rosters.
According to Spotrac.com, the Islanders rank 21st in the NHL with a projected $16.975 million in cap space next season against the projected $104 million ceiling with 13 forwards, five defensemen and two goalies signed on the NHL level.
“Next year, we have plenty of cap space, and the good thing is, we don’t have that many contracts to sign,” Darche said after acquiring second-line center Brayden Schenn, in the sixth season of an eight-year, $52 million deal, from the Blues before Friday’s NHL trade deadline. Darche also agreed to a three-year, $14.55 million extension with pending unrestricted free agent Jean-Gabriel Pageau, the third-line center.
Schenn’s acquisition left the Islanders with $3.521 million in current cap space for this season, according to Puckpedia.com. The math works for the Islanders with four players on long-term injured reserve — meaning the team can exceed the ceiling based on their annual average values — in goalie Semyon Varlamov ($2.75 million), defenseman Alexander Romanov ($6.25 million) and forwards Kyle Palmieri ($4.75 million) and Pierre Engvall ($3 million).
Spotrac.com reported the cap ceiling is projected to rise to $113.5 million in 2027-28 — significantly the final season of Schaefer’s three-year, $2.93 million entry-level deal — with the Islanders having a projected $51.975 million in cap space and 28 signed contracts toward the organizational maximum of 50, which includes players on the NHL and AHL rosters and injured reserve. The Islanders’ four LTIR players don’t count toward that threshold this season.
It matters for the Islanders as they make their playoff push because a new rule mandates that the 20 skaters dressed for a postseason game remain cap-compliant. Romanov (right shoulder) is the only player who might be able to return in the playoffs.
It’s why a key for Darche in making the deal for Schenn was the Blues’ willingness to take back Jonathan Drouin, in the first season of a two-year, $8 million deal.
“I don’t see the playoffs being an issue at all,” Darche said. “With all the players available we have, with the 23 guys on the roster, we’re cap-compliant. You take three off every game that are not playing, it’s not a problem at all. Even if Romy comes back, we still have $3 [million], 4 million in cap space because of LTI. With Romy, we haven’t factored his full $6.25 million because, for that, you have to declare them done for the year. So we’ve only taken $3.8 million off.”
The Islanders’ remaining pending UFAs are Anders Lee ($7 million AAV), defensemen Carson Soucy ($3.25 million) and Tony DeAngelo ($1.75 million) and goalie David Rittich ($1 million). Forwards Max Shabanov ($975,000) and Marc Gatcomb ($900,000) and defenseman Adam Boqvist ($850,000) are pending restricted free agents with arbitration rights.
Meanwhile, Schaefer’s status has an overriding effect on the organization. The allure of playing with the transcendent rookie was a factor in Schenn waiving his no-trade protection to come to the Islanders. Schenn certainly won’t be the last trade target or free agent attracted to the Islanders because of Schaefer.
“Yeah, that’s no secret,” Schenn said. “He’s world-class. He’s elite. You hear a lot about him. You see his highlights and I think you really learn what the guy is all about when you start playing with him. When superstars in the league are good guys that take care of their teammates, guys are only going to want to. . . come to the New York Islanders in the future just because of his talent and his character.”
Darche has this three-year window of having Schaefer on the cheap. His next contract obviously will eat up a greater portion of the Islanders’ salary cap — possibly a much greater portion if the Islanders skip the shorter-term deals usually offered to RFAs and go right to a lucrative multiyear deal.
Darche said the next contract signed by the Sharks’ Macklin Celebrini, with one season remaining on an identical entry-level deal, could provide a strong comparable for Schaefer.
“It’s another year before we talk contracts,” Darche said. “Always when we do trades like that, I always budget about three years ahead. We only know the cap number until the end of his entry level.”
Notes & quotes: Bo Horvat was fined $2,500 for unsportsmanlike conduct against the Sharks’ William Eklund on Saturday. Horvat, at the end of his shift, used his glove to try to dislodge Eklund’s helmet as he sat on the Sharks’ bench at 16:15 of the third period . . . The Islanders will conclude a four-game road trip against the Blues on Tuesday night at Enterprise Center after Schenn made his debut in Saturday’s 2-1 overtime win in San Jose.
Andrew Gross joined Newsday in 2018 to cover the Islanders. He began reporting on the NHL in 2003 and has previously covered the Rangers and Devils. Other assignments have included the Jets, St. John’s and MLB.
