(Photo credit: SinBin.vegas Photographer Brandon Andreasen)
You’ve probably started to see some of the rumors. If you haven’t, wait a few days and you’ll eventually find them, as they’ll likely get louder and louder as the Stanley Cup Final ends. It always happens with trade speculation, the first time you see the name of a player currently on the roster and under contract you will think, seriously? Whether there’s actually weight behind them or not (I have no idea about any of the Marner stuff), the names finding their way into hypothetical deals are no fluke.
Which brings us to the name that will inevitably appear in every major trade rumor about the Golden Knights as long as their situation remains stagnant, Shea Theodore.
There are several reasons why Theodore stands out among the VGK roster as an attractive and potential trade piece.
First of all, and the most important thing despite what it may seem, is your current contractual situation. As things stand, Theodore only has one season left on his contract before hitting unrestricted free agency for the first time in his career. The 28-year-old will be paid $5.2 million against the salary cap this season and with the numbers he has posted over the past few seasons, he is due a raise next summer.
Vegas then added a highly paid puck-moving defenseman at the deadline and instantly re-signed him to a long extension. Noah Hanifin is now under Golden Knights control through the end of the 2031-32 season for the steep price of $7.35 million. Add in $8.8 million alternate captain Alex Pietrangelo and there isn’t much room for another high-value defenseman.
Finally, Theodore has hit the first losing streak of his career with the Golden Knights. Despite excellent season stats of 42 points in 47 games, Theodore finished the year with only five points and no goals in his final 10 games. Then in the playoffs, he went scoreless despite averaging 22 minutes a night with 63% starts in the offensive zone. Historically, when a player struggles in big moments while wearing a Golden Knights uniform, his time in Las Vegas ends shortly thereafter.
Putting it all together, Theodore makes perfect sense as the primary bargaining chip in any imaginary trade.
On the other hand, while many other teams may be salivating at the thought of plucking a nearly point-per-game defenseman from the league’s deepest defensive corps, first, Vegas has to decide what to do with him.
Starting July 1, Theodore will be eligible for a contract extension with the Golden Knights. To end all speculation and secure such a good defensive trio anywhere, Vegas could offer Theodore a long-term extension that would not count against the salary cap until the 2025-26 season (not next).
However, if they don’t, that’s where things get a little tricky. As we’ve seen with Jonathan Marchessault, Chandler Stephenson, and the rest of the VGK UFAs, playing a full season on an expiring contract means a lot of uncertainty. It also opens the door for the player to leave at the end of the year and Vegas to receive nothing in exchange for a valuable asset. Every day that passes after July 1 increases the likelihood that Theodore will be in a real trade.
While the salary cap is expected to increase again next season, Theodore will be one of many VGK pieces that will need new contracts. Adin Hill, Logan Thompson, Brayden McNabb, Brett Howden and Keegan Kolesar are all set to become UFAs and there is a fair argument for each and every one of them to be in line for a pay raise.
Due to the age and construction of VGK’s roster, Theodore will always stand out among that group as the most coveted piece by other teams, although he is still somewhat expendable in Las Vegas.
If Shea enters this season without a deal, his time in Las Vegas will run out, unlike any unrestricted free agent before him. By not offering him an extension this summer he admits the Golden Knights view him as a luxury rather than an indispensable piece. With that will come the vultures.
So if you’ve already heard his name, that’s why. If you haven’t, get ready, because you will.
Keynote USA
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