Bruins reportedly close to trading Torey Krug's negotiating rights

Torey Krug’s tenure in Boston could be coming to an end. 

According to multiple reports, a number of teams have shown "significant interest" in acquiring Krug's negotiating rights from Boston — with the Bruins close to pulling the trigger on said move. 

Rear Admiral of Barstool Sports was the first to report that such a deal was potentially in the works, while TSN’s Frank Seravalli confirmed on Monday afternoon that multiple teams were vying for a chance to secure exclusive negotiating rights with the soon-to-be free agent. Seravalli added that the Bruins' latest offer to Krug is believed to be six years and an average annual value of $6.5 million.

Even if a six-year, $39 million extension might be viewed by some as solid value in an offseason hampered by a flat salary cap upper limit, a potential trade of this nature simply seemed inevitable as time wore on — given the unique circumstances of this revamped offseason, Krug's potential value on the open market and what appeared to be the writing on the wall when it came to his future in Boston beyond the 2019-20 campaign.

By trading Krug’s negotiating rights, Boston would recoup at least some bit of draft capital in exchange for the playmaking defenseman’s exit — a departure that appeared to be mapped out as soon as Boston was knocked out of the Toronto bubble at the end of August. 

“I’ve spent my whole adult life, my whole professional career here in this organization, in this city,” Krug said earlier this month. “I’ve done seemingly everything that they’ve asked of me and I’m proud of that. I’ve put all my energy into trying to help this team win games and win championships and we’ve come close twice now and unfortunately, it wasn’t in the cards for us. I’m a big believer that there is a journey for all of us. Whether it’s here or somewhere else, I’m not too worried about it or anxious about it.”

If Krug is intent on going to market in search of a payday beyond what Boston is offering him ($8+ million per year remains a possibility), the Bruins might follow what appears to be a growing trend this offseason when it comes to biting the bullet on a free-agent departure by way of a deal involving negotiating rights. 

These moves are especially pertinent in this season given what is expected to be a compressed schedule as soon as the Stanley Cup Final is wrapped up this week. During previous offseasons, teams were granted a pre-interview window in which they could begin conversations with free agents before signings could become official.

That window has been removed for this offseason, with teams only getting the chance to begin negotiations with free-agent targets as soon as the market opens on Oct. 9 at Noon. 

As such, any chance a team vying for Krug or any other top UFA’s services can lay the groundwork on a new deal before the feeding frenzy of free agency begins is pretty much negated. 

That is … unless you acquire the negotiating rights to a player. That would give a team reportedly linked to Krug (Detroit, Florida, Colorado) a little under two weeks to negotiate exclusively with Krug to try and agree to terms on a new contract before he hits the market on Oct. 9. The team that holds the negotiating rights to a player like Krug can also sign him to a max term of eight years — while teams bidding for him on the UFA market can only offer a max of seven years. 

A transaction centered on negotiating rights is becoming a regular occurrence in the league, with the Jets dealing Kevin Hayes’ rights to the Flyers last June for a fifth-round pick — giving Philly an extended window to eventually sign the Dorchester native to a seven-year deal. 

Earlier this month, the Hurricanes traded the negotiating rights of soon-to-be free agent Joel Edmundson to the Canadiens in exchange for a fifth-round pick. The deal gave the Habs a window they needed to ink the defenseman to a four-year, $14-million contract well ahead of the start of free agency. Given Krug's value and standing as one of the top pending UFAs, Boston could very well have a bidding war on its hands if it goes through with dealing Krug's rights — setting them up for perhaps even a third-round pick if a team is truly desperately, although that might be viewed as the best-case scenario. 

Krug, who signed with Boston as an undrafted free agent out of Michigan State back in March 2012, has tallied 337 points over nine years and seven full seasons up in the NHL ranks — establishing himself as one of the top power-play quarterbacks in the league over the years. Since the 2015-16 season, Krug’s 256 points ranks sixth overall among all NHL blueliners, with the veteran closing out the 2019-20 campaign with 49 points in 61 games. 

If Boston signs off on a deal that ships Krug elsewhere, they will now enter the offseason with roughly $15 million in available cap space.

https://twitter.com/bruinscapspace/status/1310376501691518976

Even after re-upping RFAs such as Matt Grzelcyk and Jake DeBrusk, Boston should have a solid chunk of change remaining to be active during what should be an active free-agent market and transaction wire this fall. 

Still, finding a dependable, top-four defenseman to step into the void left by Krug’s potential exit is easier said than done — especially when factoring in the sizable impression that the veteran left on the B’s pool of young talent over his seven full years up in Boston.