The 2024-25 Bruins were going to be a better team with Linus Ullmark entrenched on the depth chart.
Not only would the 2022-23 Vezina Trophy winner further ease Jeremy Swayman’s workload next season, he would have been the the best backup in the NHL.
But something had to give this offseason, with the luxury of two top-tier netminders on the same roster no longer fiscally feasible — especially with Swayman expected to sign a hefty contract extension this summer.
Following Swayman’s stellar postseason run and his expected ascension as the franchise netminder, the writing was on the wall that the Bruins couldn’t move forward with a $5 million cap hit sitting on the bench most nights.
It’s that sentiment — coupled with the other offseason needs the Bruins need to address — that makes Monday’s trade return for Ullmark so puzzling.
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As daunting as it might be to properly gauge the goalie market and secure a proper return for a top asset in net, Don Sweeney and the Bruins did manage to acquire useful pieces.
Reclaiming their first-round pick in the draft (No. 25 overall) will allow the Bruins to add an intriguing talent to a thin pipeline. Pugnacious forward Mark Kastelic should add some speed and snarl to the checking unit.
And even though Ullmark is still elite, the 30-year-old wasn’t in the Bruins’ long-term plans — especially if a trade moved his cap hit off their books.
But any hopes of allocating another $3 million-$4 million in spending power this offseason were snuffed out once the Bruins opted to take on goalie Joonas Korpisalo and what has devolved into a burdensome contract.
Even with Ottawa retaining 25 percent of the veteran’s contract, the Bruins are looking at a $3 million annual cap hit through the 2027-28 season with Korpisalo.
As a result of Monday’s trade, the Bruins only shed $1.165 million in cap space (per PuckPedia) — with Korpisalo’s deal handcuffing a roster that should have prioritized fiscal flexibility above all when it parted ways with Ullmark.
If the Bruins end up handing Swayman a megadeal worth roughly $8 million per season, it makes plenty of sense that Sweeney and his staff weren’t going to view a combined $13 million allocated to a Swayman/Ullmark duo as palatable.
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But if the alternative is an $11 million commitment to Swayman and a far-worse netminder in Korpisalo, one could make the argument that the Bruins would be better off just sticking with their previous arrangement — especially if the savings is only $1 million-$2 million per year.
Yes, the Bruins are still flush with cap space, with PuckPedia projecting $25 million in spending power. But given the number of needs, the Bruins need all of the cap space they can get.
Beyond crafting Swayman’s new contract, the Bruins might have to spend big bucks to acquire a top-six center such as Elias Lindholm. If the Bruins are targeting scoring punch, they might have to fork over $10 million or more if they want to pluck a sniper such as Sam Reinhart or Jake Guentzel.
Fair to say, that cap surplus can dry up quickly.
And if Jake DeBrusk leaves in free agency, the case can be made that the Bruins should be looking for at least two scoring forwards. Bringing in Tyler Toffoli and Anthony Duclair could be enticing, but that extra forward may not be feasible.
It’d be particularly painful if a potential 20-goal scorer sees his market crater during the second or third day of free agency, but the Bruins only have $2 million or so left. in its bank and are unable to swoop in for a bargain deal.
Yes, the Bruins probably would have invited a lot of risk had they moved Ullmark and opted to fill in the backup role with the unproven (and cheap) Brandon Bussi. But Korpisalo is also a major gamble, especially given that contract and his lackluster returns this past season.
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Korpisalo posted an .890 save percentage over 55 games in his only season in Ottawa, the 30-year-old ranking 97th out of 98 eligible goalies in goals saved above expected at minus-16.7, per MoneyPuck.
Perhaps the Bruins believe a change of scenery will help Korpisalo, especially under goalie coach Bob Essensa’s tutelage. But Korpisalo’s woes won’t be alleviated just by slotting him behind the Bruins’ defense.
The Santors ranked 25th in scoring chances allowed during five-on-five play (per Natural Stat Trick) this past season, but the Bruins weren’t much better, ranking 19th.
In terms of high-danger scoring chances allowed at five-on-five, the Bruins actually allowed more per 60 minutes (11.44) than the Senators (11.36). Boston might have better personnel on its blue line, but the Bruins’ defensive numbers were primarily a byproduct of Swayman and Ullmark bailing them out.
As such, Korpisalo will need to elevate his game if the Bruins’ defensive structure doesn’t improve. That’s a costly roll of the dice, especially considering that $3 million cap hit.
Of course, it remains to be seen if the Bruins have other plans for Korpisalo beyond slotting him behind Swayman. They could opt to bury Korpisalo in Providence, although that would only save $1.15 million against the cap. They also could buy out his contract, but that would result in a dead cap hit through the 2031-32 season.
If the Bruins are willing to retain more of Korpisalo’s salary or want to throw a prospect or draft pick in as a sweetener, perhaps they can find another team to take on Korpisalo’s contract, although that seems like a stretch.
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But it sure feels like the Bruins have absorbed a headache of a contract with Korpisalo, taking him off the Senators’ hands while handing them a No. 1 goalie.
While taking on Korpisalo’s deal might have been the price needed to pry a first-round pick, the Senators should have had to relinquish another draft pick or player just to get that contract off their books.
There are plenty of dominoes yet to fall in the Bruins’ busy offseason. But at this early stage, the Bruins have seemingly etched more tasks on their to-do list — while moving their top trade asset.
For now, things don’t seem to add up.
Conor Ryan can be reached at conor.ryan@globe.com.