NHL Free Agency 2011: Boston Bruins Should Spend Big or Not Spend at All

NHL free agency began yesterday, and while most of the league was eager to make big signings to improve their rosters for the upcoming season, the defending Stanley Cup champion Boston Bruins made just one small addition.

The Bruins' only signing on Day 1 was former Montreal Canadiens forward Benoit Pouliot, who Bruins fans likely remember from the playoffs this past season when Bruins play-by-play man on NESN Jack Edwards ripped Pouliot after a cheap shot along the boards.

Pouliot had 30 points last season, and was the fourth overall pick in the 2005 NHL Draft. He's never lived up to his potential, but the Bruins are hoping perhaps a change of scenery might help him.

With average talent making big money yesterday, it was good that the Bruins did not make any big signings and overpay.

Boston let Michael Ryder become a free agent, and he signed with the Dallas Stars for two years at $3.5 million per season.

Ryder was a good player but never gave a consistent effort for an entire season, and it's clear the Bruins were never going to give him the money Dallas did.

The Bruins have over $12 million in salary cap space to fill a couple needs. They need a defenseman since Tomas Kaberle might not re-sign, and they need two forwards now that Ryder has left after Mark Recchi retired shortly after the Bruins won the cup last month.

Two of the best defenseman on the market yesterday, James Wisniewski and Christian Ehrhoff, received big contracts from the Columbus Blue Jackets and Buffalo Sabres, respectively. There was no need for the Bruins to pay either of these players No. 1 defenseman money, especially when Ehrhoff played poorly against the Bruins in the Cup Finals and is labeled by many as a "soft" player.

So what should the Bruins do with many of the top free agents already having signed with other teams?

Well, they have a couple of options. 

First they must re-sign forward Brad Marchand to a long term deal. He is currently a restricted free agent and is not going to break the bank to extend his contract long term.

Second, they could sign another smaller priced free agent like Pouliot, but they could, and should offer a mega-deal to a player like Steven Stamkos.

The Bruins would have to offer Stamkos, a restricted free agent with the Tampa Bay Lightning, over $7 million because of compensation rules. When attempting to sign an RFA from another team, you have to have the compensation required to give that team if you sign their player.

The Bruins don't have their own second-round pick for 2012, so they can only offer first-round picks. They can offer Stamkos a contract of over $7 million per season for a number of years, and if they sign him for that price or more, they would have to give four first-round draft picks to the Lightning.

But four first rounders isn't a lot when you think about where the Bruins will be drafting for the next few seasons. They will be contenders for quite some time going forward, and their draft picks will likely be at the end of the first round.

Stamkos would obviously be a massive addition to the Bruins, and would give them a legit 50-goal scorer for the first time since Cam Neely, the Bruins' current president, scored 50 goals in 1994.

Stamkos and Bruins young forward Tyler Seguin would give the Bruins an amazing offense for many years to come.

At 21 years old, Stamkos' best days are ahead of him, which is a scary thought since he's scored 96 goals in the last two years.

The Bruins have lots of money to spend, not many needs, and a fan base still excited from the team's first Stanley Cup title in 39 years.

This is the perfect time for the Bruins to create a real presence in Boston sports by being aggressive and showing they are willing to spend big to make the team a real contender for a long time.

But if they choose not to go after Stamkos, there is no point in overpaying a player just to say you made a move.

The Bruins should be smart, and if there's nothing that interests them, they should just stand pat and fill their holes from within the organization.

Nicholas Goss is a Boston Bruins featured columnist for Bleacher Report, and was the organization's on-site reporter for the 2011 Stanley Cup Finals in Boston. Follow him on Twitter for Bruins news and analysis.