Joined: Sep. 2018
Posts: 781
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I've seen Kuzy to CBJ trades so often that I'll chime in with a player comp:
Player 1:
Center, 2025 UFA, 31 years old
$8M AAV Cap hit, owed $8M actual money per season
2022-23: 55 GP, 12-16-28 (0.51 ppg), -13 +/-
Career: 842 GP, 189-366-555 (0.66 ppg), -5 +/-
Player 2:
Center, 2025 UFA, 31 years old
$7.8M AAV Cap hit, owed $8M actual money per season (although $2M in signing bonuses per season, so $6M remaining this season)
10-Team NTC
2022-23: 81 GP, 12-43-55 (0.68 ppg), -26 +/-
Career: 680 GP, 165-386-551 (0.81 ppg), +49 +/-
Clearly based on stats, I'd take Player 2 over Player 1, but they're not so different that Player 2 would fetch a significantly larger return in a trade. Factor in the M-NTC and money owed compared to AAV (although with signing bonuses already paid it's averaging out to $7M owed per season if traded to a new team now), and it might be harder to trade Player 2.
Player 2 is obviously Kuzy, Player 1 is Ryan Johansen, who was given away half retained a little over a month ago. So to answer the question: Kuzy has more trade value than Johansen, but based on the market, that's still very little compared to Johansen's "nothing".
The Caps are probably better off keeping him at least this season and hope for a bounceback, since the cap will be less an issue next year, and as a UFA he'd have more value next offseason or at the TDL. I think if you move him, you'd be looking at either 1) a B-tier prospect or mid-round pick in exchange for Kuzy half-retained, or 2) taking back a bad contract and a roster player for Kuzy, no retention.