Holmstrom Signs One-Year Extension with the Islanders

The New York Islanders have signed Simon Holmstrom to a one-year contract extension. The team announced the news just one day after the qualifying offer expired, but Arthur Staple of the Athletic reports he signed just below his QO number, reaching terms at $850k for the season.

PuckPedia reports he took $850k on a one-year, one-way deal instead of his QO of $874k but a two-way deal. Now, Holmstrom is no longer waiver-exempt, ensuring his spot on the roster.

That leaves the Islanders with exactly $50k in cap space while Oliver Wahlstrom remains unsigned. Wahlstrom’s arbitration hearing is set for August 1, just over two weeks away.

Holmstrom, 23, signs the deal after scoring 15 goals and 25 points in 75 games this season. Holmstrom struggled down the stretch, scoring just two goals from February 1 to the end of the year. Before the meaningless game 82 against the Penguins, where he had two points, Holmstrom scored just twice in his final 26 games, adding only three assists.

Then, he didn’t play in either Game 3 or Game 4 against the Hurricanes. This year, he went pointless in the playoffs after going unused in the 2023 series against Carolina.

Early in the season, Holmstrom’s shooting percentage nested comfortably in the 30% range before it fell all the way down to the 20.8% it rested at after the season ended.

Ten months ago, the 2023-24 season began with Holmstrom on the top line with Mat Barzal and Bo Horvat. It ended with him fighting to keep his place in the lineup. Holmstrom’s benefit is some stability defensively, as his underlying defensive numbers were strong for a young player.

His inability to create offense is a problem, but if he shoots a high enough percentage (15.4% in 22-23, 20.8% this year), it helps cancel out his inability to drive play.

What’s Next for Holmstrom?

This season likely is a make-or-break one, as the Islanders seemingly want to see more from the young forward after he only managed five points down the pivotal stretch while missing some key games. Giving Holmstrom another one-year deal gives the Islanders all the flexibility to move on after next year, especially if someone like William Dufour, Liam Foudy, or Matt Maggio steps up and takes over a roster spot.

Holmstrom needs more consistency overall. His defensive game was solid enough analytically, while his speed helped him break the puck out efficiently. A third line of Pierre Engvall/Jean-Gabriel Pageau/Holmstrom would give the Islanders a ton of speed on the third line.

With the Islanders now out of money, the roster seems pretty set in place, barring a surprise trade popping up. The team has 13 forwards and seven defensemen. It appears Wahlstrom may only have days left in his Islanders career.