Well, Zito is disingenuous about how it came being that he doesn't have the cap space. It's not like some divine intervention made him to trade Panthers' first round picks for essentially nothing and not buyout Hornqvist. Zito is no different than Tallon in regards to trusting and giving the rookies a fair chance at establish themselves at the NHL level. Tallon was notorious for saying that he wants 10-15 of his draftees to play for the Panthers and then in every free agency he goes out there and spends every cap dollar available to him.
Eh, I was one of the most critical of Zito's TDL, but let's not go overboard here.
The reason why we're in cap hell is not Zito: it's on Tallon and Rowe. Let's look at the contracts Zito had to deal with:
- Matheson; considered untradeable at one point at 4.8x6. Sure he turned it around in Pittsburgh, but imagine if he were still here and still playing like shit? Swapping him for Hornqvist is still a massive win, even if it worked out great for Pittsburgh too.
- Yandle with his NMC over 6M cap hit; had to be bought out (which is why we're screwed this offseason).
- the Darling buyout (for Reimer) - still screwing us this year (at least it's just 1.2 mill at this point and will be gone soon)
- Connolly and his 3.5Mx2 cap hit (just got bought out by Chicago). Zito traded him, Borgstrom (also just bought out), Stillman (n.6 D) and a 7th rounder - we got back a whatever in a few weeks of Wallmark and Lucas Carlsson (looks like the Stillman replacement at least in terms of value)
- Strallman at 5.5M (traded away for a 2nd rounder and Kolyachonok)
- the Bob albatross, still there and signed for four more years - the only guy on this list that Zito couldn't address.
Yes, Zito handled the TDL poorly, but show me a single bad contract signed on his watch. And as much as we've (rightfully) criticized the TDL: Chiarot for a 1st + Smilanic was a bad target and bad overpayment, but let's say Zito targeted Kulak like we wanted - he cost this year's 2nd round pick, a 7th and a depth D. We did need a defenceman, especially once Ekblad went down - there was no question we were getting
someone. So say Zito does it "right" - he trades Kulak for our 2023 2nd (2022 was traded away to acquire Bennett) and Smilanic to ballance out the rest. The difference between the two is the difference between a late 1st and a (probably mid-to-late) 2nd - what's the value difference, about a 3rd round pick? (And then obviously we could have also re-sign Kulak, but then again, we could have still signed him in FA - Edmonton only confirmed him yesterday).
I don't love that we paid a 1st+Tippett for Giroux since he only wanted to come here, but the market price is about right and he was clearly an asset: he had 23 points in 18 RS games for us and 8 points in the playoffs. If we don't add him, do we even make it to the second round? Toronto was 7 points behind us; we had 2 OT victories over them where Giroux had 5 points - if they win both of those in OT, they're just 3 behind, if in regulation, they're 1 point behind us. So maybe they beat us for the division and we play Tampa in round 1, or maybe we don't make it out of the 1st round without Giroux's playoff contributions against WSH (he had 3 points in the game 6 OT win). Again, I'm not sure I would have made the same decision as Zito - but for what he paid, he got the value - team won the President's trophy and more importantly made it into round 2 for the first time in 26 (!) years .
So maybe if Zito passes on Giroux or on Chiarot, we have the assets to trade Hornqvist. Then again, the value difference between Chiarot and Kulak was not that high, and Giroux was a clear asset to our run. On top of that, ditching pricey contracts has shown to be expensive lately in cap-frozen NHL - just look at Vegas having to actually give up a prospect to move 1 year of Paccioretty. If a top6 guy and .ppg producer (albeit recently injured) costs a minor prospect to move, what would it cost to move a 4th liner who's paid essentially the same cash and commands just 1.7 mill less cap space?
Buying out Hornqvist would free up enough money for Marchment for this year, but it'd be also on the cap next year - and we might need the cap space then. Even if we don't, do we feel safe betting 4.5Mx4 on Marchment? I like him, he's been amazing this year, but he's had exactly one year when he has produced at this rate - and unlike Marchesseault or Verhaeghe, he doesn't have the precedent of producing a lot at lower level. He will
probably be worth it, but if he isn't, he could handcuff us again to a contract we wouldn't be able to move - and we have zero margin for error with our big contracts in Bob, Barkov etc. Him being injury prone doesn't help either.
TL;DR: As much as the TDL was questionable and acquiring Chiarot was an overpayment, cap hell is not on Zito and I think he made the right call with Marchment. Keeping Hornqvist sucks, but it might be the least bad option in our situation.