Couple of things here.

1. You are over the cap so.....this won't work...however.....
2. Zero chance Cole resigns here for 2.5M. He's won 2 Cups. While coaching staff here may not like him, someone else will pay him 3.5-4M on the open market. Remove Cole, as he almost assuredly won't be here next year.
3. I think the Rust and Hornqvist contracts are fair. The biggest issue with Hornqvist will be how many years, but you don't need to worry about that in this scenario.
4. Sprong doesn't need an almost 300K raise. He has done nothing at the NHL level yet. He'd get a minimum 10% qualifying raise, putting him at about 770K
5. Simon is in a similar boat. While he performed better, Simon is probably more in line to get 700-800K and a 1-way only contract (similar to what Kuhnhackl and Rust got a few years ago).
6. I'd move on from Kuhnhackl. They have a few options like Blueger, DiPauli, and Johnson....or Simon, that could play for a little less.
7. Sheahan likely gets close to 3M if not a little over. He's back on pace similar to a few years ago with Detroit. He shouldn't be taking less with his improved play.
8. Jarry also in similar boat to Simon. No need to give him 1.5M after a dozen or so good games. Give him a 1-way contract for 800K. Getting a 1-way deal is a big step for a young guy. They often have to give up some salary to get it if they aren't a top 6 type performer.

Give more to Sheahan, drop Cole, drop Kuhnhackl, a little less money to Sprong, Jarry, and Simon, and I think you MIGHT be able to fit it under

Hmm, I personally think that Horny will get 5.5-6 x 6 yr or something like that, so that might save a bit of room there. I also feel like if we do somehow manage to send a package over to OTT for Brassard, there would have to be at least some retention, even if it's only $750k-$1m or something. I just don't see how they could make that trade without it.

I can see Sheahan getting the same as Rust, though.

I agree with most of this, although I think Kuhnhackl has some of the most untapped potential among any players on the squad right now. He does everything the right way, and maybe if JR can get him around $800K he would be a tremendous signing. The main point is that it will be tight tight tight going into next year. Playoff performers could jack their value up as well.

Ottawa isn't really looking to retain I don't think. It would be nice to get him at $4M as he's an upgrade from Bonino and we likely couldn't even have gotten Bonino for $4M.