Yes, how they use the cap space is yet to be determined.
I agree that they are likely looking to be competitive now. Their defense is already solid. And their goaltending should be solid as well (we'll see). Their bottom 6 - like Vegas - is rock solid.
All they need, to be a competitive, and likely a playoff, team is some top 6 talent. Easier said than done, of course. But with $30M in their pockets, if they spend it well, they can really set themselves up nicely.
Also, they have more bodies than they need, so there will be trades coming, which should get them some more picks as well.
Did he overplay his hand? Yes. But to be fair, Seattle was NEVER going to come away with anything close to what Vegas did, simply because Vegas got to go first, and the other 30 GMs learned from that experience.
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