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The Seattle Kraken signed defenseman Ryan Lindgren to a four-year contract in free agency, which carries a $4.5 million cap hit.
Beginning his career with the New York Rangers, Lindgren spent parts of six seasons with the organization. But as the Rangers made changes this past season amidst a disappointing year, the defender was dealt to the Colorado Avalanche ahead of the trade deadline. Across 72 games between the teams this past season, Lindgren managed 22 points while averaging close to 20 minutes per game in ice time.
Below is an analysis of how Lindgren's new contract looks for the Kraken.
Ryan Lindgren could help to round out the Kraken's blue line
Over his time in New York, Lindgren was able to grow his role and spent a chunk of it as Adam Fox's defense partner. While Lindgren would typically only post between 15-20 points per year, at his best, he was defensively reliable and tough to play against. Across 328 games between 2019-20 and 2023-24 in particular, Lindgren held a plus-105 rating.
Of course, Lindgren didn't thrive under head coach Peter Laviolette. Ultimately, his value had declined quite a bit by the time he was sent to the Avalanche last season.
However, the benefit with Seattle's blue line is that Lindgren won't have to take on too large of a role. We know that Vince Dunn, Brandon Montour and Adam Larsson will take on the most minutes. Then with other capable defenders in Jamie Oleksiak and Ryker Evans as well, Lindgren can benefit from a slightly reduced role.
A four-year contract makes sense for Lindgren's deal. Any shorter, and Lindgren would be serving as more of a temporary fit. The defenseman is still just 27 years old, and the deal will keep him through what should be some of the peak years of his career. If Lindgren works out in Seattle, the team can benefit for a good number of years.
However, any longer, and there'd be quite a bit more risk. Lindgren had some inconsistent results over his final stretch in New York, and we don't know where his game will be a couple of years down the line. Based on the current term, if Lindgren isn't a great fit in Seattle, it's less of an issue than if he had been signed for five or six years. Plus, there's a greater likelihood of being able to move the contract if needed.
Lindgren's $4.5M cap hit comes in as projected
Lindgren's $4.5M per year also marks a fair cap hit. It's also the same number he signed for on his most recent one-year extension with the Rangers. I had previously projected a four-year contract for Lindgren to come in at a $4.25M cap hit, at HockeyComparables.com.
At a $4.5M cap hit, Lindgren will be only be the fifth-highest paid defender on the Kraken. As a result, his contract doesn't really necessitate Lindgren being used in too large of a role, given the team has been able to spread quite a bit of money across several defenders. It's also cheap enough that it shouldn't really prevent the team from making other moves in the coming years.
Plus, the cap hit will only continue to look better as the salary cap continues to rise. Especially if Lindgren proves to be a good fit in Seattle, the deal could end up bringing really good value.
Limited trade protection in the deal
Another bonus with Lindgren's deal is that it comes with minimal trade protection. The contract comes with just a six-team no-trade list for the full four years, per PuckPedia.com.
As a result, it leaves the Kraken with options. If a bigger deal did emerge, it could always be possible to use Lindgren as a trade chip at some point. On the flip side, if the defender didn't fit as intended in Seattle, there's the possibility of being able to move the contract.
Obviously, the goal is that Lindgren will be an effective defender in Seattle until 2029. But the limited trade protection does leave the team with options, if needed.
Contract grade
In signing Lindgren, the Kraken add another piece to help round out their blue line. A four-year term was expected for Lindgren, which limits some of the risk that would've come with a longer deal. Meanwhile, Lindgren's $4.5M cap hit comes in close to expected, and could look good if the defender proves to be a solid fit. With Lindgren still just 27 years old and the Kraken also giving limited trade protection in the contract, this is a worthwhile gamble for Seattle.
Kraken grade: B
For Lindgren, it's difficult to imagine him getting a larger deal elsewhere. His value has fallen a bit in recent years, but he still managed to sign his biggest contract yet. He'll have term security, and does look to be a good fit for the team's blue line on paper. Plus, at a four-year term, he has the opportunity to build up his value over the deal, and potentially cash in with another big contract in 2029.
Lindgren grade: B+
