In a move that is now being heavily questioned, the Boston Bruins traded Linus Ullmark to the Ottawa Senators without securing a contract extension for former goaltending partner Jeremy Swayman. Swayman, who shared the crease with Ullmark during the 2023 season, emerged as the team’s starter during the 2024 postseason. His stellar performance, including a .933 save percentage, also made him the team’s choice as their netminder moving forward, so the club traded Ullmark under the impression they could get a Swayman deal done without much issue.
The mistake was less about trading Ullmark than was the timing. More and more time keeps passing and the Swayman deal isn’t done. Concerns that the two sides elected not to go to arbitration could make the Bruins vulnerable to an offer sheet. So too, Swayman’s contract could set a bar for other netminders (or visa versa) and now questions about cap space in Boston are surfacing.
The Bruins Have Been Working on a Swayman Deal for Some Time
Sportsnet’s Elliotte Friedman reported in early March that Swayman and Bruins’ GM Don Sweeney had begun negotiating Swayman’s next contract. Swayman confirmed as much, even if he didn’t elaborate on how things were progressing. And, it’s hard to know where things stand. The arbitration process last summer was tough for Swayman, who described it as “hearing things that a player should never hear”. He’s likely professional enough to move forward, but there are some things you don’t forget when negotiations come back around. This experience likely influenced his expectations and willingness to be flexible.
Knowing they might have soured the relationship a little, the Bruins’ choice to trade Ullmark before a deal was in place with Swayman was intriguing. Some might argue that the Bruins had to clear out Ullmark’s $5 million cap hit, but without a finalized deal for Swayman in the bag, Boston took a serious gamble.
The Bruins Are in a Tricky Spot Now
Even as a restricted free agent, the Bruins now face the challenge of negotiating with a player who has proven his worth and has significant leverage. Swayman, two years away from unrestricted free agency, is poised to command a substantial increase from his previous salary of just under $3.5 million. Meanwhile, the Bruins currently have over $8.6 million in cap space for the 2024-25 season, with Swayman being the only active roster player needing a new contract. The goalie knows his value, he understands the Bruins are in a tight spot, and he knows he is their priority.
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GM Don Sweeney emphasized Swayman’s importance to the team, stating on July 1, “Sway is a big part of this whole dynamic of what we’re trying to put together. It’s a priority for us. We’re going to continue to find a negotiated landing spot.” That said, Sweeney isn’t about to show his cards. He said free agency and Swayman’s negotiations aren’t related, even if they are. He told the media, “We’re in a great spot to find the best-negotiated deal we can find for both sides.” It’s become clear that’s not entirely true and Swayman seems prepared to go all-in.
This isn’t to suggest a deal won’t get done or that an offer sheet is coming. Swayman will probably sign in Boston on a long-term contract extension. Still, Swayman can make it easy on Boston or he can stretch this out. Regardless, the netminder is going to get a serious pay hike.
Options range from a long-term deal to a shorter two-year contract, with an average annual value (AAV) expected between $6.5 million and $7.5 million. And, if the Bruins play hardball, an offer sheet is a potential threat. Anything above $9 million and Swayman may sign it, especially given past frictions in negotiations.
The Bruins’ decision to trade Ullmark without securing Swayman first appears to have been a mistake in hindsight. If the Bruins attempt to lowball Swayman again and another team presents a more lucrative offer, Boston could lose a player they have heavily invested in. At the very least, Sweeney has eliminated the potential of a team-friendly deal and made it so there is no reason for Swayman to do them any favors.
