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Yegor Sharangovich Signs 3 Year Entry Level Contract with New Jersey Devils

Earlier this evening, agent Dan Milstein stated and CapFriendlyt confirmed that prospect center Yegor Sharangovich signed an entry level contract with the New Jersey Devils today. This post is a quick summary of what this all means and why it happened.

Dan Milstein is an agent for NHL players and the CEO of the Gold Star Family of Companies, which includes Gold Star Sports Management. He is also a breaker of news. Earlier this evening, he went to Twitter to state that Yegor Sharangovich has signed an entry level contract (ELC) with the New Jersey Devils.

That is indeed Yegor Sharangovich. He is indeed wearing a Devils hoodie with a hat nearby. The papers do appear to be contract papers. Milstein and his agency is most definitely legitimate - and quite busy as Gold Star represents Nikita Kucherov (who got paid not that long ago) and Artemi Panarin (who may or may not be negotiating with Columbus) among other players. As of writing this post up, CapFriendly put up the contract details. It counts.

This is not a huge surprise. Prospects signing ELCs a month or so after being drafted is common. Plus, Sharangovich was in the perfect position to be given a deal. Sharangovich was an overage draft selection by the Devils in the fifth round of the 2018 NHL Entry Draft. He was 19 during his 2017-18 season and turned 20 earlier in June. When I wrote up the pick, I noted that Elite Prospects listed him as out of contract after playing last season with Dinamo Minsk of the Kontinental Hockey League. I think this was a reason why he was drafted. Combined with his age, prior status in a professional hockey league, and coming out of Europe, Sharangovich was (and is) immediately eligible to play in the American Hockey League. All the Devils needed to do was sign him. They just did that today.

According to CapFriendly, the ELC is a three-year, two-way deal with a cap hit of $775,833. By rule of the NHL Collective Bargaining Agreement, the ELC would have to be a three-year, two-way contract that cannot exceed $925,000 in salary at the NHL level. Between signing and performance bonuses on top of the base salary, the NHL cap hit is well below the maximum. Outside of the NHL, his salary would be $70,000 anyway. This should cause zero concern. The Devils have oodles of cap space and plenty of room on their contract list. I think they drafted him with the intent that they could sign him right away and introduce him to North American hockey as soon as they can. That is now actually possible. As of now, I expect to see him in training camp; my guess is that the goal for him will be to play (and play well) in Binghamton.

As far as what to expect, Sharangovich was one of the players included in Brian’s post from this morning where he showcased each European-based prospect’s league-equivalent production. In other words, what would each player have scored in the NHL assuming they produced at the same rate they did in their league. Brian had good things to say about the 19-year Belorussian forward, noting how he improved as the season went on. It is a plus that he was able to become a regular in the KHL at such a young age, albeit in a limited role. Hopefully that means he has a chance to be somebody on this side of the Atlantic Ocean.

The first step to becoming somebody here was taken today. The entry-level contract has been signed and Sharangovich is now in the system with a deal in hand. The next step will likely be in camp, where he’ll work to earn a spot within the organization. Congratulations to Sharangovich for signing his first NHL contract; may there be more steps with the Devils organization.