What's a Big, Young, Sort-of-Pretty-Good Defenseman Worth?

Update, July 28: Bouwmeester has avoided arbitration by signing a one-year contract worth $4.875 million. Next summer he will be an unrestricted free agent at the age of 25.

Only a few NHL players are going to salary arbitration this summer, and the case to watch is Jay Bouwmeester (pictured).

The Florida Panthers defenseman is just entering his prime. His early-career track record is solid, but hardly spectacular.

So in a year when teams are throwing money around like candy, what's he worth?

And what would his value be on an open market? Rumors say Bouwmeester turned down a six-year deal worth $6 million per year. With one more season in Florida, he'll be an unrestricted free agent.

At that point, you would think teams will be lining up to offer him $6 million and more. But much depends on the cap.

These days, free agent bidding doesn't always depend on production, potential, or the scarcity of available players at the same position. It also depends on salary cap room.

If the cap stops rising and teams find themselves with a lot of cap room tied up in long-term contracts, a perfectly decent guy like Bouwmeester might find that the gold rush has passed him by.