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The Seattle Kraken had themselves a pretty significant NHL Free Agency this year. After focusing on depth last year, they clearly wanted to make a statement this summer. And they certainly showed a commitment to bouncing back from a disappointing 2023-24 campaign. One of the more notable moves saw the Kraken sign Chandler Stephenson to a seven-year contract on July 1.
Stephenson has experienced a bit of a renaissance over the last few seasons. He comes to Seattle from the Vegas Golden Knights, who acquired him from the Washington Capitals in 2019. Once in Vegas, he emerged as one of their better centers. In fact, he anchored the top line for the Golden Knights until the team traded for Jack Eichel. This all culminated in a Stanley Cup championship in 2023.
Stephenson now heads to Seattle where he could contend for time on the top line like he did in Vegas. But is this contract worth it for both the player and his new team? Let's hand out grades to Chandler Stephenson and the Kraken for this six-year, $43.75 million contract signed in NHL Free Agency.
Chandler Stephenson signs with Kraken
This was likely the best chance Stephenson would get to cash in on his time with the Golden Knights. And he certainly made the most of it. The $6.25 million he receives is quite a bit more than some expected him to get. It also serves as a healthy raise from the $2.75 million he made on the last contract he signed back in 2020.
If that wasn't enough, he has a lot of control and certainty over his future. The 30-year-old Kraken center has a full no-movement clause inserted in the first four years of this deal. After that, it becomes a modified no-trade clause for the final three seasons. This modified clause allows him to block a trade to 10 teams of his choosing.
Overall, this is an incredible deal for Stephenson. He receives a big raise and incredible security moving forward. Additionally, he has a chance to remain a top-line center in the NHL. His only legitimate competition for the job in Seattle is Matty Beniers. It's certainly hard to find much wrong from the player's perspective.
Kraken sign Chandler Stephenson
The Kraken are taking a rather expensive gamble with this contract. Yes, Stephenson played on the top-line at times and was a regular part of Vegas's top-six. However, this past season saw some decline in his form. His scoring rate in all situations dipped, and his overall play at even strength took a hit, as well.
Perhaps this was simply a down season for the veteran forward. And perhaps his usually strong two-way game finds the mark with the Kraken beginning with the 2024-25 campaign. Even with that said, though, this is still a huge risk for Seattle. It's hard to argue that Stephenson is a $6+ million player despite what contract projections said before NHL Free Agency. Giving him this salary along with this term and the no-move/no-trade protection could blow up in their face.
It's not all bad, though. Stephenson gives the Kraken a respectable top-nine center core along with Beniers and Yanni Gourde. Additionally, Jared McCann may move back to the wing, where he could continue to thrive for Seattle. That said, it's hard to ignore the risks involved with this contract as things stand now.
Grades and final thoughts
Chandler Stephenson receives high marks for this contract while the Kraken receive an average grade. Stephenson parlayed a successful tenure with the Vegas Golden Knights into a huge long-term contract. Meanwhile, Seattle is simply hoping that the 30-year-old center can rebound after a poor season without Mark Stone on his wing for the next six seasons.
Chandler Stephenson grade: A+
Seattle Kraken grade: C+
