Subscribe
Follow Us
The Philadelphia Flyers signed forward Noah Cates to a four-year contract extension last week, worth $16 million.
Cates is 26 years old and scored 16 goals and 37 points in 78 games in 2024-25. The deal carries a $4 million cap hit, and will kick in for the 2025-26 season. Below, we examine how the deal looks for the Flyers, and whether it carries fair value.
Noah Cates has been a good fit with Flyers
Originally selected by the Flyers in the fifth round of the 2017 NHL Draft, Cates spent four seasons with the University of Minnesota-Duluth between 2018 and 2022. Upon the conclusion of his NCAA tenure, Cates made the jump right to the NHL, playing 16 games with the Flyers in the 2021-22 season.
The forward followed up with a good first full NHL season in 2022-23, scoring 13 goals and 38 points. However, Cates did see his production and role reduced the following year. His production slipped to just six goals and 18 points through 59 games, and his ice time dropped by four minutes per game.
However, following some time as a healthy scratch early in the 2024-25 season, Cates was able to bounce back to put together a solid year. He's able to play either at center or on the wing, and has ultimately produced at an 82-game-rate of 36 points over his NHL career. He has a strong defensive impact, and has shown to be a versatile fit with the Flyers. While Cates' ideal position would likely be as a third-line forward, he's able to play up and down the lineup.
The goal would be that the Flyers' young talent continue to grow their roles, and the team introduces more talent to the top of their forward group. This would allow Cates to shift down the lineup on a more regular basis. In the short-term though, the Flyers have the option to use Cates higher if needed.
The contract carries fair terms
At four years in length, the deal has a lot of potential upside for the Flyers. Just entering his mid-20s, Cates is arguably in what should be the prime of his career, and there won't be any risk of age-based decline.
The Flyers are also just coming out of their rebuild, and are looking to get more competitive. However, the team is also likely still trying to figure out what their forward group will look like down the road, and the strong majority of their forward group isn't under long-term contract. With a four-year deal in place, it provides some runway to use Cates as a bit of a building block. With the extension, Cates becomes only the fourth forward on the Flyers who's locked up past 2027.
The term is also short enough that there isn't a ton of risk with things going south. Even if Cates did stumble, it's a short enough deal at a low enough number that it won't cause any long-term issues. At the same time, there's enough term where if Cates is able to sustain his play, or even take a step, then the Flyers could see a lot of value from the contract in the later years.
Article Continues Below
It's a reasonable cap hit
Cates' contract also comes with a reasonable number attached to it. I had previously projected that a four-year deal for Cates would likely come in at $4.5M per year. As a result, the Flyers are getting pretty good value with the deal. Plus, with the salary cap rising substantially over the next few years, the deal should only look better down the road.
The Flyers have also been able to preserve cap space to this point. While they still need to get a deal done with defenseman Cam York, Cates' deal should leave the Flyers with a lot of flexibility.
The cap hit probably won't be crucial over the next year or two, as the Flyers may not spend right to the cap. At the same time, it could be more important in years 3 and 4, as we expect the team to get more competitive.
Cates gets no trade protection
Another notable part of the deal is that it doesn't come with any trade protection. We've seen a shift to more and more protection being included as part of contracts over the last half-decade or so, but when in place, it can limit a team's options.
Without any trade protection included in Cates' deal, essentially, it leaves the Flyers with a bit more flexibility. On one hand, if things were to go south for whatever reason, the Flyers could look to get out from under the contract. On the flip side, it also gives the team the ability to consider Cates as part of a larger trade later on, if there's ever a move that warrants it.
Overall, the deal carries fair value for the Flyers. The team was able to sign Cates at a reasonable cap hit, and the term came in as expected. Philadelphia should get decent value from the deal, without a ton of risk attached.
Flyers Grade: B+
