What
have been the 10 best goalie contracts signed in the NHL since the introduction
of the salary cap? The following summaries are clipped from my book series
"How to Win and Lose in NHL Free Agency", based on the rankings in my
book "Hunting Bargains in a Salary Cap World". Entry Level Contracts
are not included, which matters less in the goaltending category than with
forwards. Goalies tend to bloom later, with a higher percentage aging more
gracefully than the skaters.
"Both parties
are extremely pleased. He accomplished what he would like to accomplish and I
believe we accomplished what we'd like to accomplish. It's as simple as
that."
Signing a 34-year-old player to a 6-year contract carries enormous risk, but it paid off for Lou Lamoriello. Brodeur accepted a lower salary than contemporaries Nikolai Khabibulin and Marty Turco, but was able to secure an extra 2 years term (which may have been deliberate to lower the average cap hit).
Marty could have retired instead of agreeing to this pact and still had a strong case for entry into the Hall of Fame. What happened? He won 2 more Vezina trophies, further cementing his legacy as one of history’s best goaltenders. This could have been for 6 years $100M and still been a worthwhile investment (except for the fact that would not fit under the salary cap).
His performance did eventually fade towards the end, but if you guaranteed any GM that they could get 2 Vezina trophies on any given contract, they’d all happily write a blank cheque.
"That’s a good investment, isn’t it?"
Tim Thomas was 32-years-old when he secured his first primary starting gig in the NHL. The ultimate late bloomer had just completed a miraculous 2009 season with 36 wins, 11 losses, a .933 SV% and 40 goals saved above average when Peter Chiarelli rolled the dice on a 4-year term to a 35-year-old player. In the event of an unexpected retirement, the money would still count against the Bruins salary cap. Thomas was awarded the Vezina trophy a few months after inking this ticket.
Thomas registered one of the greatest single seasons in the salary cap era, with a .938 SV% and 46 goals saved above average in 57 regular season games played. Then he got even better in the playoffs, winning 16 games with a .940 SV%, raising the Stanley Cup and being named playoff MVP after defeating the Vancouver Canucks. Shortly afterwards he would win his second Vezina trophy, icing on the cake. Frankly, it doesn’t matter what happened after that. The old goalie did unexpectedly retire, but that’s irrelevant. The investment was still worth every penny and more.
"I said since Day One that I really like New York”
Henrik Lundqvist was among the NHL’s best goaltenders from the moment he arrived in North America, finishing top 4 in Vezina trophy voting both years of his ELC. For as much as Henrik Lundqvist loves New York, he certainly did not take a hometown discount to remain a Ranger. The Swede was a year away from unrestricted free agency, so retaining him on a long-term deal was going to require an unrestricted price. Glen Sather would make Hank the highest paid goaltender in the league, which he would remain until overtaken by Pekka Rinne in 2013.
They paid for the best and received one of the best, with 6 seasons of double-digit goals saved above average. He was always in the conversation for the Vezina trophy, winning the award in 2012.
“I'm trying to win a
championship and at the same time, make it fit long term. That's exactly what
we're doing."
Miikka Kiprusoff had still only played 85 regular season games before the 2005 lockout, but much more importantly, played 26 sensational playoff games in 2004, carrying the Calgary Flames to within an inch of the Stanley Cup. The goaltender’s free agent status was still restricted due to CBA provisions, and the two sides could not agree on a long-term extension. Perhaps Darryl Sutter needed proof that Miikka was not just a one hit wonder. The term might have been low but the salary was high.
Upon returning in 2005/06, he was lights out and won the Vezina trophy, cementing his position as one of the league’s best netminders (also received a Hart trophy nomination). Despite diminishing returns after that lofty peak, Miikka banked an additional $35M at age 31 when this expired.
"I don't know if
there's been a bigger goalie talent I've seen. Vasy has showed throughout the
regular season and in the playoffs when Bish went down how good of a goalie he
is."
Andrei Vasilevskiy had only accumulated 40 GP of NHL experience when Yzerman got his signature on this 3-year extension a full year before the ELC expired. Fellow Russian Semyon Varlamov signed a nearly identical deal (in term and average adjusted cap hit) five years earlier, and it’s plausible that Stevie cited that comparable specifically when presenting his offer to Vasilevskiy.
The gamble paid off, with the Russian becoming the primary starter immediately after signing. By year one of this pact, Vasilevskiy posted 44 wins with a .920 SV% and was nominated for the Vezina, an award he won the following year. Getting 3 years of Vezina quality goaltending for a $3.6M average adjusted cap hit is an absurdly incredible cost-benefit ratio. Andrei also started all 22 playoff games for Tampa in 2020, winning the Stanley Cup with a .928 SV%.
"What we learned
about him in Milwaukee basically confirmed Kekalainen's report and our
interview with Pekka. He's not a real difficult personality. He's one of the
most likable and positive and genuine people you'll meet. You wish that he does
really well."
Pekka Rinne spent 3 seasons in the AHL before earning a full-time promotion to the Predators. Once he was in the show, it did not take long to wrestle the primary starting duties from Dan Ellis. The big Finn never looked back. David Poile had him on a cheap 1-year ticket that would have made Pekka an unrestricted free agent on July 1st. He was near the 100-game mark in his career when this was autographed, and should have been able bank a larger sum had he tested the market (having been 4th in 2009 Calder voting, he’d generated buzz).
Poile made a slick move getting him on this 2-year bridge, both seasons earning Vezina trophy nominations. Rinne posted a .926 SV% and 51 goals saved above average, plus 22 playoff games with a .917 SV%. Rinne became one of the league’s best goalies. At the end of this contract Rinne would become the highest paid goaltender in the NHL.
"Now I can just focus on the goal of winning a Stanley Cup"
Carey Price had been shouldering a heavy workload for back-to-back seasons and had already amassed 271 career GP (with 26 more in the playoffs) by the time he needed a new contract at age 24. Marc Andre Fleury is the only other goalie in the salary cap era to even approach that many games at such a young age. It’s not a coincidence that Carey would receive a similar contract that Fleury had signed 4 years earlier, but for a higher salary.
This deal had its peaks and valleys, with the peak being as good as it gets. Price won the Vezina and league MVP in 2015, posting an incredible 44 wins with a .933 SV%. The first and last years were below average, and year four he suffered a serious injury, but he was top 4 in Vezina voting for the other half of the deal. Over the full span of this agreement, Price produced a 2.38 GAA and .921 SV% in 287 regular season GP. Even won a Lou Marsh trophy as best Canadian athlete.
“I’m 35. At 31, I was
thinking to myself that I’m going to be playing in Finland for the rest of my
career. This is a long way from where I was.”
Tim Thomas had only ever played 4 games in the NHL before emerging as Boston’s best goalie in the 2006 season (posting 19 goals saved above average in 38 GP), prompting management to trade Andrew Raycroft to Toronto for Tuukka Rask. Mike O’Connell secured Tim’s autograph on a 3-year treaty at a fair price considering the lack of experience. Thomas had to feel like he won the lottery at age 32 after such a long road to the NHL, but his best was yet to come.
Timmy did see his save percentage drop in year one as he took on a heavy workload of 66 games. When they lessened the load to under 60 games in years two and three, he blossomed, registering a remarkable 62 goals saved above average. Thomas would win the Vezina trophy in year three, earning himself a much bigger ticket at age 35, listed above.
“With a little bit of
pressure comes opportunity, right? You try to do your best to feel confident
and prepared for the moment, so you just work hard off the ice and on the ice
in practice, and when the moment finally comes, hopefully you’re prepared.”
Jordan Binnington had only accrued a single game of NHL experience when he signed this contract, if you’re wondering how they managed to get a Stanley Cup winning goaltender for close to the league minimum. He had been red hot in the AHL for a year and a half, earning a promotion after a string of bad performances by back-up Chad Johnson.
Binnington would finish that regular season with 24 wins, 5 losses, and a .927 SV%. But more importantly, he recorded 16 playoff wins to capture the title. Worried he might have been a one hit wonder, Doug Armstrong only signed him to a 2-year bridge after the victory, and his concern might have been warranted, as Jordan had a very forgettable 2020.
“It’s a great
organization and I’m happy to be a part of it. I’m honoured that they think
highly enough of me to offer me that contract."
Jonathan Quick had only played 47 games in the NHL when he signed this extension with one year remaining on his ELC. The young gatekeeper had mostly been a slightly above average puck stopper, and had not yet elevated himself to star level, allowing the Kings to get his autograph on a very cheap ticket.
It didn’t take long for the upside to start showing itself, as he improved in year one, winning 35 games, losing 22, with a .918 SV%. Then one year after Tim Thomas stole the Stanley Cup for the Bruins, Jonathan went on an epic run of his own, playing 69 games with a 1.95 GAA and .929 SV% in the regular season, then won 16 out of 20 playoff games with an astounding .946 SV% to win both the Cup and the Conn Smythe trophy. It’s a little less remarkable than the season Thomas had because Quick lost out to Henrik Lundqvist in Vezina voting. Too bad. Jon got rich quick on the next deal.
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