As the calendar flipped from the dog days of August to the infancy of hockey season in September, the Stars agreed to a three-year deal with Jake Oettinger at a $4 million average annual value. The 2017 first-round pick has long been viewed as the future of the crease in Dallas. On Thursday, the team put their money where their mouth has been.
Oettinger lived up to the hype every time he’s been given the opportunity thus far, but the opportunities themselves have been somewhat limited. He was sheltered as a No. 2 during his rookie season and started his sophomore season developing in the AHL. However, he finished that second NHL season with a bang, putting forth one of the great goaltending performances in NHL postseason history in the first round against the Calgary Flames this past May.
Stars have signed Jake Oettinger to a three-year deal. He’ll be an RFA again in 2025, one year away from UFA status.
— Saad Yousuf (@SaadYousuf126) September 1, 2022
The high personal note in which he ended the 2021-22 season boded well for Oettinger, as he entered the summer due for a new contract. The Stars, meanwhile, had to balance not overreacting to one playoff series and a generally small sample size in the regular season. Looming over both sides was the reality of a flat salary cap, which left little wiggle room.
That’s where the negotiation element came in. Oettinger’s side came to the table aiming for a long-term deal. The Stars came to the table trying to manage the finances, knowing big deals for Jason Robertson and Roope Hintz are due right around the corner.
Early in the process, Oettinger’s camp compromised on term. Oettinger expressed a strong desire to have a future in Dallas and has an especially strong relationship with Stars goaltending coach, Jeff Reese. Therefore, the intention was to make things work with the Stars instead of playing hardball and seeing the difficult situation the Stars were in with the cap, Oettinger’s camp agreed to a shorter deal. However, the numbers still had to be what they perceived to be fair.
The Stars’ early offers were well below the $4 million AAV that eventually materialized. That’s where the lengthy standoff happened. Though the impasse was long in time, it wasn’t very complicated. In negotiations, each side has to give a little. Oettinger’s side gave on their preference for term, and in turn, the Stars gave on their preference for salary. Once that happened, a deal materialized quickly.
Carter Hart was long viewed as the baseline. Hart signed a three-year, $11.9 million ($3.979 million AAV) last summer, just days before his 23rd birthday. Oettinger turned 23 on Dec. 18. Though Hart had 25 more games than Oettinger on his resume when he signed, he also entered that summer fresh off of a .877 season. Oettinger entered off a .914 season and the Calgary series.
The $4 million AAV lines up with Hart’s deal but the Stars did sweeten the pot a bit. Oettinger received a $1 million signing bonus and will have a $1.4 million salary in the first year, leaving a $4.8 million salary in his last two years of the contract. That puts his qualifying offer in 2025 at $4.8 million.
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Oettinger’s camp gave in on term in these negotiations but it could end up being a blessing in disguise. If Oettinger performs the way he has been and follows the developmental trajectory he’s been on, he will solidify himself as a bona fide No. 1 goaltender in the NHL over the next three years. In the summer of 2025, when Oettinger is looking for a new deal, the Stars will be shedding the deals of Jamie Benn ($9.5 million AAV), Esa Lindell ($5.8 million AAV), Ryan Suter ($3.55 million AAV) and Radek Faksa ($3.25 million AAV), not to mention a salary cap that is expected to be on the rise. His next deal could be a big one, which is good for Oettinger but also good for the Stars, because…