Anaheim Matched Carlsson’s Offer Sheet. Now It Has to Figure Out Gauthier.

The Anaheim Ducks just committed $18 million a year to Leo Carlsson for the next five seasons. That’s what happens when Philadelphia backs up a Brinks truck and dares you to say no. The Flyers signed Carlsson to a $90 million offer sheet, structured so that $85 million was guaranteed in signing bonuses. Match it and you’re paying out the nose. Don’t match it and you lose your franchise center and look like you were bluffing the whole time.

So the Ducks matched. They had to. General manager Pat Verbeek had publicly promised he would, and letting Carlsson walk after making him the centerpiece of the 2023 draft would have been a disaster. Now the real work starts.

The cap space is basically gone. After matching Carlsson and signing defenseman Pavel Mintyukov to a five-year, $36 million deal, Anaheim has a little more than $9 million in available room. That is not enough to sign Cutter Gauthier. Not after a 41-goal season. Not when he’s eligible for a big raise and the team has almost no leverage.

Moving Money Out

The Ducks need to shed salary, and fast. Frank Vatrano is the obvious candidate. He scored nine points last season and carries a cap hit north of $4.5 million for two more years. Moving him alone wouldn’t solve the problem, but it would be a start. Anaheim could also look at packaging a draft pick with a mid-tier contract to create breathing room. Nobody is going to hand them cap space out of charity.

Gauthier isn’t offer-sheet eligible this summer, which gives the Ducks a small window to work with. But that window closes fast. If they go into next season without signing him long-term, the same threat from Philadelphia — or some other team — shows up in 2026. And by then the asking price will only be higher.

The Clock Is Ticking

Verbeek has to decide what kind of team he’s building. If he locks in Gauthier now, the core is set for years: Carlsson, Gauthier, Mintyukov, and whoever else emerges from the pipeline. But it means moving bodies and taking some short-term pain on the cap. If he doesn’t, the Ducks risk turning every offseason into a fire drill.

The smart move is to clear the cap and sign Gauthier this summer. That keeps the band together and avoids another hostage situation. Anaheim’s front office knows what it’s like to watch a rival write a check and force their hand. They shouldn’t volunteer for a second round.