I don't know much about the NHL CAP, but good lord, how can a fairly new, non-playoff team like the Kraken be over the CAP? Seems like some bad payroll management. But again, I'm not much knowledgeable about the NHL in this way.
The NHL cap is really tight and had a flat cap for several years post covid. On top of that the Kraken inherited a lot of veteran players and their contracts in the expansion draft. It's only now the Kraken are starting to get their own draft picks/prospects onto the major league rosters and the cheaper deals. They also probably overpaid in free agency for the guys they brought in this year but have to pay a premium to get guys to want to come to an expansion team.
There's been a conversation as to what the Kraken should have done due to the current veteran core they had. Some say we should have tanked, traded guys like Gourde at the start and collected lottery picks so we could contend in the next year or 2. Others said we should have went super aggressive in free agency/trades like Vegas to add to the veteran core we had and try go a run.
Right now its a weird mismash of stuff. I think our GM is super conservative in trades and wants to build slowly from the draft but ownership wants to win now so we are kind of a bubble team but in no danger of being contenders. Probably the worst place to be.
I get why ownership was trying to be aggressive. They want to be relevant in this sports market and sucking for years won't help. They want the Kraken established before the Sonics come. I think they have the wrong GM for it though.
They have to hope their prospects really pop and become stars to get out of mediocrity. From what i've saw they are getting kudos from analysts on their drafting and a lot seem stars in the lower leagues. Whether these guys are stars or just solid nhl players remains to be seen but I think that's why they hired Bylsma who was the AHL coach for them to help bring through guys like Wright.