Just to get everyone up to speed, what has happened over the past 2 weeks of this off-season? Stan was busy shedding salary room, then things got quiet after the Hjalmarsson offer match.
- July 8th Hawks lose Torchetti
Assistant Coach John Torchetti left the Hawks to join longtime friend Rick Dudley as associate coach of the Atlanta Thrashers.

- July 9th Blackhawks Prospect Camp is underway
This prospect camp holds more intrigue than past years, knowing the talent level in they system and the opportunity these young players have in front of them. With the salary cap challenges facing the Hawks, a few of these prospects have a chance to make the club this season. Top prospects to be watched are: Kyle Beach, Kevin and Jimmy Hayes, Shawn Lalonde, Nick Leddy, Jeremy Morin and Dylan Olsen.

- July 12th Hawks fill assistant coach vacancy
The Hawks sign Mike Kitchen, to replace Torchetti, as an assistant coach. Kitchen and Coach Q have some history in St. Louis. Together the two have never missed the playoffs and captured the 1999-2000 President’s Cup after leading the Blues to a franchise record 114 points.

- July 14th Jack Skille is re-signed
The speedy winger from Wisconsin signed a 1-year deal with the Hawks for $600,000. His cap hit of over a million may be one of the reasons he hasn’t made the club to this point.

- July 19th Patrick Sharp will be staying in Chicago
Stan Bowman cleared up rumors circulating that Sharp was on the market with the team still facing salary cap issues. He stated “He’s not going anywhere. He’s a big part of this. He means a lot to us on the ice and off the ice.” With a salary hit of $3.9M for the next 2 years, there has been much speculation regarding the fate of Sharp. His $3.9M hit is why the Hawks should keep him. His 25 goals and 66 points in the 2010 regular season and versatility in playing center or wing make him a reasonable cap hit with great value. Some nice numbers from Sharp are his 2010 playoff stats, in 22 game he had 11 goals, 22 points and was a +10.

- July 21st Hawks move Reasoner to Florida for Taffe
Marty, we barely knew you. Marty Reasoner came to the Hawks from the Thrashers in the Byfuglien/Eager/Sopel deal. He stopped in for a cup of coffee, and was shipped to the Panthers less than a month later. In a salary dumping move, the Hawks shed $1.15M in cap room. In return, the Panthers sent over Jeff Taffe, a center that will spend his time in Rockford. Jeff is one of those first rounders that never really live up to first round expectations. Drafted 30th (overall) in the 2000 entry draft by St. Louis, he has only found his way into 174 NHL games over 10 years. After this move, many thought it was a sure thing that Niemi would be signed before reaching arbitration, but that hasn’t been the case.

- July 23rd Bryan Bickell is signed
Bickell and the Hawks agree to a three-year, one-way deal worth a total of $1,625,000, with a cap hit of $541,666. He will make $500,000 this coming season and $525,000 and $600,000 the following years. A good contract for the Hawks as Bickell was the most often recalled from the Rockford IceHogs last season. This season, Bryan should find a spot on the roster. He is a big (6′4″ 223lb) winger that has been good when called upon last season. He should be able to step in and add the physical presence lost in Byf and Eager.

So, several announcements going quietly under the radar. The word is negotiations with the Hawks and Niemi are ongoing, but it appears the negotiations will now be in the hands of the arbitration board. So, we wait on word of Antti’s worth, but the wait won’t be long.

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Just when it looked like the Blackhawks Salary Cap situation has been minimized, in comes a curve ball. On Friday, the San Jose Sharks sign Hjalmarsson to a 4 year, $14M offer sheet.

This move puts Stan Bowman on Company back behind the eight-ball. Stan has a week to decide if he match San Jose’s offer and retain Niklas or lose his number 4 defenseman. If Hjalmarsson goes to the Sharks, the Blackhawks would receive San Jose’s first-round and third-round pick in next year’s draft. With San Jose’s level of compete, those will equate to late picks in the first and third round.

As offer sheets go, they are generally far and few between. This was an aggressive move on Doug Wilson’s part, knowing the Blackhawks situation. Wilson knew he would be putting Bowman over a barrel with this offer. With what appeared to be enough maneuvering to clear cap space, Bowman has another difficult decision to make.

The Hawks currently have 14 players signed at a cap hit of about $55.8M. That leaves them with only $3.6M to fill out their roster, typically around 21 or 22 players. They would need to add at least 7 more players for little more than $500,000 each.

FORWARDS
Jonathan Toews ($6.300m) / Patrick Kane ($6.300m) / Marian Hossa ($5.275m)
Patrick Sharp ($3.900m) / Dave Bolland ($3.375m) / Tomas Kopecky ($1.200m)
Marty Reasoner ($1.150m) / Troy Brouwer ($1.025m) / Viktor Stalberg ($0.850m)
DEFENSEMEN
Brian Campbell ($7.143m) / Duncan Keith ($5.538m)
Brent Seabrook ($3.500m) / John Scott ($0.512m)
GOALTENDERS
Cristobal Huet ($5.625m)
CAPGEEK.COM TOTALS
(these totals are compiled using the bonus cushion)
ROSTER: 14; CAP: $59.4m; CARRY-OVER PENALTY: $4.158m
PAYROLL: $55.852m; BONUSES: $0.065m; CAP ROOM: $3.613m
– CapGeek.com

To add to the uncertainty of this decision, the Hawks are still in negotiations with Antti Niemi, who has filed for arbitration. Reports say he could be looking for Halak money ($3.75M). Niemi and Hjalmarsson are the 2 key players that remain unsigned. The remained of the roster will be filled out with base salary role players. With Wilson forcing the Hawks hand, they may only be able to resign one of these two major contributors.

What are the Blackhawks options?
Let Nik walk, deciding to sign Niemi and take the picks. This would leave he Hawks thin on defense. This could also impact Campbell’s play. The back line of 51 and 4 complemented each other very well and freed up Soupy to do what he does best. Stan would have to replace the contributions of both Hjalms and Sopel with little cap space. The Hawks are deep in defenseman in the system (LaLonde, Connelly, Olsen, Leddy, Vishnevskiy), but none ready to go now.

Match the Sharks offer sheet, retaining Niklas and taking a big change on Niemi. Best scenario, Niemi’s arbitration comes in low or an agreement can be reached prior to arbitration. Unlikely. but if it does occur, there will be little to fill out the roster. If Niemi is priced too high, the Hawks are in a pinch at the most important position on the ice. Does Huet regain his title as starting goaltender for the Chicago Blackhawks? Is Toivonen ready for prime time? Does the Corey Crawford experiment start? Will he Hawks look to the free agency market for an available and cheap solution between the pipes. The list of remaining free agent goalies available is less that impressive.

Sign both Hjalmarsson and Niemi, forcing the Hawks to undoubtedly move another salary. Would it be easier to replace a forward rather than a top 4 D or a starting goalie?

In regard to the offer sheet extended from SJ, I do think it on the high side, but fair. It is hard to think about paying your number 4 defenseman $3.5M per year, but value of a contract is all relative. On the Hawks, Hjalms is playing behind Keith, Seabrook and Campbell. On some other teams, he could be in your top pair. With the absence of Blake, the SJ blueline is thin. After Dan Boyle, their D’men are better than average. So Nik would have a higher value to a team like SJ. Midway though this 4 year deal, he will be paid at market value.

I do think the Hawks could have avoided this whole mess by signing Nik and Antti before they hit the market as RFAs. Bowman commented that he was not concerned about any offer sheets being tendered, but I am not sold that he planned for it.

Whoever signs Hjalms when this is all said and done will have their work cut out for them. If the Hawks retain him, we all know further moves will be necessary. But if SJ poaches Nik from the Hawks, SJ will not be in any better salary shape. They will need 3 more forwards signed under their $3.1375M cap space, including Setoguchi. Devin Setoguchi is an RFA and will be looking for a raise. Will someone tender an offer to Setoguchi?

The Hawks have till next Friday to respond. If “The Buzz” had the GM’s hat on, we’d match.