Contenders emerge as teams taking a chance at Alex Formenton trade before deadline

Alex Formenton remains the league’s last unsigned free agent. Reports out of Ottawa haven’t been very encouraging for the young forward, who needs to sign before Thursday at 5 o’clock ET, or else he will be ineligible to play this season.

Neither the Senators or Formenton’s camp is commenting on the contract statement, which prompted some fans and reporters to speculation that the status could be linked Canada’s 2018 World Junior team that’s under investigation over allegations of sexual assault. There is no indication that Formenton was involved, however, chatter has grown since he never commented on the incident.

But Frank Seravalli asks a very valid question that linked Formenton to trade chatter: “However, with the full extent of the details in the investigation unknown, will one team step up over the next day and take a flier on Formenton? What is Formenton was not party to the alleged assault?”

The insider canvassed the league on Wednesday and found two teams that could be linked to Formenton in a last-minute trade tomorrow, the Vegas Golden Knights and the Carolina Hurricanes.

Here is how Seravalli explains it:

"Vegas Golden Knights: The Golden Knights raised eyebrows on Wednesday when they traded defenseman Zach Hayes to Carolina in exchange for future considerations. They were previously at the 50-contract maximum and moving Hayes without getting anything in return provided them the flexibility to acquire and sign Formenton if need be. GM Kelly McCrimmon has a decades-strong relationship with Newport Sports Group, who represents Formenton and many other players on Vegas’ roster. Plus, the Golden Knights’ will to win and improve their roster by seemingly any means necessary cannot be discounted. Perhaps the only thing standing in the way is the Golden Knights’ lack of salary cap space. Formenton is likely due a one-year deal somewhere in the neighborhood of $2.25 million based on comparables, and Vegas doesn’t have that much space, but that is potentially solvable by sending an active roster player back to Ottawa in a potential deal.

"Carolina Hurricanes: It’s probably a bigger long shot in Carolina, but they should at least be considered based on what we believe to be their risk profile. The Hurricanes have an owner who has bucked norms, and they have taken on other ‘project’ type players, such as being the first to step up and sign Tony DeAngelo after he was exiled by the Rangers. That worked out well. DeAngelo put up 51 points in 64 games last season. These two scenarios are not nearly comparable. But it is important to point out that Carolina does it a little different, they play in a market that flies under the radar, and they may be able to withstand any potential scrutiny a little better than most. Plus, they’re hungry to win and have a strong organizational culture that oozes with leadership."

If the league doesn't reveal in its investigation that Formenton was involved in Team Canada 2018 World Junior Championship team’s sexual assault case, we have to admit that he remains an interesting player to have on a roster. Last season, he put up 18 goals and 32 points with the Senators. 

What's next for Formenton? We'll have a better idea in less than 24 hours...