Grier pays the minimum tab and guards the window: my July 1 forecast
A detailed, specific, almost-certainly-wrong prediction. The whole point is the receipts.
Here is the thing about forecasting free agency two days out: I am going to be wrong, probably about most of it, possibly about all of it. (Trying anyway is the whole exercise. I respect the disorder.) So let me be wrong with conviction and exact dollar figures, because a prediction that hedges every line is just a weather report with a logo on it.
The whole thesis in one sentence: the cap floor is a bar tab with a minimum, Mike Grier is the designated driver, and he is going to order exactly enough cheap rounds to satisfy the bouncer while staying sober enough to drive the kids to 2028.
Anyway. The receipts.
San Jose sits at ~$63.6M committed (PuckPedia, verified). The floor is $76.9M. That is not a goal, it is a legal minimum: Grier must put roughly $13M of salary on the tray whether he wants the calories or not. The need is exactly one thing, a right-shot defenseman who can quarterback a power play, because the forwards are full at 13 and the goalie room (Askarov, Nedeljkovic) is closed for renovations.
The forecast slate#
| Player | The move | Terms | Odds |
|---|---|---|---|
| Collin Graf (RFA) | Re-sign, bridge-plus | 3 yr / $12.6M ($4.2M) | High |
| Shakir Mukhamadullin (RFA) | Re-sign, arbitration bridge | 2 yr / $4.4M ($2.2M) | High |
| Vincent Desharnais (UFA) | Re-sign, the PK righty | 2 yr / $4.5M ($2.25M) | High |
| Jacob Trouba (UFA) | Sign, the veteran right shot | 2 yr / $7M ($3.5M) | Medium |
| PP1 quarterback | Internal: Cagnoni or Dickinson | $0 (already here) | Medium |
| A cap-dump trade | Eat ~$4M + a pick to clear the floor | Uses a retention slot | Bold swing |
| The real top-4 RHD | Waits for the trade deadline | n/a | Structural call |
Reading the tray#
The three re-signs are the layup. Grier already qualified Graf and Mukhamadullin on June 30, which is the front office equivalent of putting your hand on the car at the dealership. Graf turned 21 goals and 46 points into leverage he technically does not have (no arbitration rights), so my pick is a bridge with a year of cushion baked in: 3 years at $4.2M, betting the scoring is real before it gets expensive. Mukhamadullin files for arbitration as a formality and lands at $2.2M. Desharnais comes back because every blue line needs one big quiet man who kills penalties and says nothing.
The one outside signing is a veteran righty, and it is short. This is where the discipline shows. The dream names are gone or wrong: Carlson chose Carolina, Andersson is going to take six or seven years from somebody (Detroit, I would guess) that San Jose should not and will not match. So Grier signs a stopgap who eats floor money without mortgaging a thing. The pick: Jacob Trouba, 2 years at $3.5M, physical, right-handed, useful on the kill, gone before the kids force him out. (The sentimental alternative, and I would not hate it: Brent Burns comes home on a one-year, $3M reunion to fire the point shot on the second power play and teach Verhoeff how to grow a beard. If Grier gets nostalgic, that is the move.)
The power play gets quarterbacked by a 21-year-old, on purpose. With Carlson gone, the PP1 keys go to Cagnoni or Dickinson, which is cheaper than a rental and, conveniently, the thing the smart people wanted all along.
The bold swing: one cap-dump trade. San Jose has a retention slot open and a pile of room. The most Grier thing in the world is to take an unwanted ~$4M contract off a cap-strapped contender, attach a late pick of his own, and get a 2027 second-rounder for the trouble. He clears the floor with cushion and banks an asset. He has done this before with Walman, with the Karlsson retention, with Kesselring's no-trade clause. He likes getting paid to absorb other people's mistakes.
No Andersson at term. No Werenski blockbuster (you do not gut the best farm system in hockey for a defenseman who can walk in 2028). No Hellebuyck (the crease is full). No splashy winger (the top nine is full and then some). And no panic. The big top-four right shot is a March problem, bought with picks when a seller gets desperate, not a July 1 one.
Where the tab lands#
Add it up and the Sharks sit around $79.8M: over the $76.9M floor by a comfortable ~$2.9M, roughly $24M under the ceiling, with the longest new commitment being Graf's three years. Nothing reaches the 2028-29 wall where Celebrini, Smith, Misa, Dickinson, and Chernyshov all get paid at once. The window stays clean. That is the entire game.
This roster makes the push on internal growth, not free agency: Stenberg arriving for ~50 points, a Will Smith leap toward 70, Misa's sophomore step, the post-Olympic-break system being the real team, and a healthy Celebrini dragging the curve. My call: in the wild-card hunt to the final week, a genuine coin flip, and probably a few points short again (call it 88 to 92), with the real swing arriving at the deadline. Close enough to believe. Not yet built to finish.
I will score this against reality once the dust settles, line by line, and own whatever I botched. (My over/under on being right about a single contract to the dollar is roughly zero, and I am taking the under.)
Grier orders the well drink, leaves a modest tip, and keeps the keys.
Sounds about right. Let's see what happens.
Your Sharks desk · forecast built off the post-draft board, the RFA tracker, and PuckPedia-verified cap. All guesses, no inside information, and the fun is in the box score later.
This piece states San Jose's need as one thing, a right-shot defenseman who can quarterback a power play. A count of all 32 clubs for 2025-26, published here on September 20, says the handedness does not belong in that sentence: 17 clubs gave more power-play time to a left-shot defenseman than to any right shot, and the 11 who gave a right shot under 100 minutes ran a better power play than the league mean. I would strike "right-shot" from the statement of need and leave the need standing. No number here is wrong. The frame is, and it was mine to catch.
CP
