Report: Kadri still listening to offers, despite having $50 million deal from Islanders

We're now nearly one full month into the offseason free agent period and star forward Nazem Kadri remains unsigned.

Or is he?

NHl insider David Pagnotta is reporting that Kadri has signed a seven year deal with the New York Islanders worth $7.25 million per season.

Check it out:

Pagnotta followed this report up with a hit on TSN radio saying:

"They'll announce that soon... They pretty much have that set in, it's a formality from what I've heard. Just paperwork and making sure all the money, the dollars, and cents all fit..."

- David Pagnotta

The problem with Pagnotta's report though is that no credible NHL insider has reported on it. And... where there's smoke, there's usually fire.

In fact, just yesterday NHL insider Frank Seravalli reported that, while Kadri hasn't signed with the Isles, the team has presented him with a seven year, $49 million deal.

“I think the Isles put an offer on the table for Kadri. Other teams have told me they believe it’s in the 7x7 range.”

- Frank Seravalli

Seravalli himself says that reports that Kadri has signed with the Isles are a bit premature, as he believes that Kadri is in negotiations with other teams, as well.

It's interesting to note that Kadri was reportedly seeking $9 million per season on the open market. If indeed Pagnotta's and Seravalli's reports are accurate, the free agent will be close to $15 million short of what he was seeking.

It's also worth noting that ESPN insider Kevin Weekes has reported that there are "at least 4 transactions" coming "down the line" for the Islanders:

So... what gives?

Has Kadri signed or hasn't he?

There's a theory out there that the Islanders have already signed Kadri but simply haven't made the news official yet. Isles GM Lou Lamoriello is infamous for keeping his information in house and only releasing it to fans and media when required to by NHL rules. You may recall that the Isles announced a slew of signings last offseason just prior to the opening of training camp when they were obligated to release their training camp roster to the NHL. So, the theory is that Lamoriello and the Isles are once again pulling this move and that Kadri has already signed a deal with them.

There's another theory that Kadri would like to re-sign with the Colorado Avalanche but he's waiting for GM Joe Sakic to clear cap space via trade in order to bring him back. Honestly... this makes more sense to me. Surely Kadri must have received offers similar to the Islanders' closer to the opening of free agency. The only plausible reason to me why he's still unsigned is he's waiting for the Avalanche and has a verbal agreement to re-up once the team has the required cap space to accommodate him.