For comparison, last summer the Flyers gave MDZ a 2 year deal at $3.875m just before his arbitration case.
He had 32 points in 64 games in 14-15.
It is funny b/c MDZ was my best comp for Stone's value, even though they are different players.
MDZ has played 160 more NHL games than Stone and has nearly double the points. MDZ has had three years of basically hitting 0.5 PPG (09-10, 11-12, and 14-15 season). Stone had that last year. His only year of doing so. By that logic, Stone would have to come in under what MDZ agreed to. Let's say that number is $3.5 M per year.
The kicker is how much that knee injury affects Stone next year. The Coyotes would be stupid to throw a 5 year deal out there for a player coming off major injury. If he never performs at a level that he once did, then that is $3.5-4.5 M AAV for the next 5 years that Coyote management would have to chalk up as a loss.
In arbitration cases, does injury to the player come into play? If an arbiter gives Stone between $4.5-5.0 M, then the arbiter would have to be drunk.
Arizona probably qualified Stone at $2.2-2.8 M or something equivalent to a 2nd round pick. Other teams can't offer sheet that b/c of his injury. Stone is probably looking to maximize the value of his one or two year deal b/c a team won't sign him long term as a result of the injury. Goes to arbitration. Stone gives his background, and Chayka simply says, "Everything presented is true, but he is coming off of major surgery." No way that an arbiter decides north of $3.75 M AAV. Arizona signs him to a 2 year deal. If no ill effects from injury, extension talks start next offseason. If there are potential issues from injury, Coyotes can trade him or expose him in expansion draft.