What have been the top 10 worst 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 "The Definitive Guide to Salary Cap Mismanagement". When you take a big swing on a starting goalie and whiff, the consequences can be devastating unless you've got a replacement who can shoulder the responsibility. You'll find far more goalies in the league-wide top 100 worst contracts than on the best list. Three of the goalies below were signed by Dale Tallon.
"In all of our discussions with Rick, he made it clear that he
wanted to be an Islander for the rest of his career, but it was of equal
importance to Rick that we work out a deal that would allow us to continue to
build a Stanley Cup contender for years to come. This deal is great news for
our franchise and our fans."
When Garth Snow signed Rick DiPietro to this 15-year contract in 2006, it sent shockwaves through the hockey world. Regardless of how it would eventually play out, credit Garth for his creativity. This was a minor coup in salary cap circumvention, as nobody had yet conceived the notion of signing free agents to a ridiculously long term in order to get the cap hit down. Unlike the “back-diving” revolution this inspired, DiPietro did not get his agreement front loaded (Mike Richards got a slight back-dive in 2007, then Lecavalier got a full back-dive in 2008).
It could be argued that this contract was only "bad" because DiPietro couldn’t stay healthy. The success of this investment would have been different had DiPietro been able to sustain a high level of goaltending (though the injury problems highlight why 15 contracts are a terrible idea in general). The former 1st overall draft pick was mostly a league average goaltender for 63 GP the season prior, posting a 3.02 GAA and .900 SV%. He was eventually bought out, but don’t feel bad for Ricky…he’ll be getting $1.5M per year from the Islanders until 2029. Humans will be flying around in starships, he’ll still be cashing Islanders pay cheques.
“You guys just here to blame someone.
You never look yourselves in the mirror, eh? You're always good. You never make
the mistakes. Your articles are always perfect. In reality, what have you done
for this city? If you ask yourself, what have you done besides only criticize?
Not much.”
“I am who I am. Life is too beautiful
to be sad, to be depressed. The sun comes up every day and it's beautiful.”
Ilya Bryzgalov had been in the Vezina trophy conversation for the previous 2 seasons (78 wins + 35 goals saved above average) before reaching the open UFA market for the first time at age 31. The Flyers won the bidding process, though you’ll never hear anyone involved in this debacle claim victory. The Flyers opted to offer a ridiculous 9-year term that would take him to his 40th birthday in an attempt to lower his annual cap hit. Year one was almost average, posting 38 wins, 16 losses with a 2.48 GAA and .909 SV%, which was borderline decent for his compensation rate (that was before posting an .887 SV% in 11 playoff games).
By year two, his play had eroded further, and his relationship with the Philadelphia media became contentious. After 99 regular season GP with -20 goals allowed below average, management decided to pull the plug, using one of their compliance buyouts afforded by the new CBA. They did not want to risk this situation spiraling any further down the toilet bowl. But you don’t need to feel bad for Ilya, he’ll be collecting $1.6M per year until 2027. Elon Musk will be walking around on Mars before Ilya’s Flyers cheques stop coming…
“Sergei is an elite
starting goaltender who has consistently proven to be one of the best in the
NHL. Adding a world-class goalie with Sergei’s abilities and experience will
give us a solid foundation in net and the confidence to win every night as we
look toward this next era of Panthers hockey in South Florida.”
It’s rare for a two-time Vezina trophy winner to reach the UFA market, so even if there were warning signs of decline with Sergei Bobrovsky, there was inevitably going to be a bidding war for his services when he reached the open market at age 30. It would be interesting to know if Dale Tallon forgot to ask for the “no state tax” discount, or if he did and $10M actually was the discount. Was another GM actually offering Bob much, much more?
Needless to say, year one was cataclysmic, as Sergei struggled to reach .900 on his SV% as the league’s 2nd highest paid goalie. The outlook in Florida’s goal went from optimistic to catastrophic within a few months of the ink drying. It does pain me to put Bob at the top of this list, as the two of us have won several fantasy hockey championships together (the first while he was still in a Flyers jersey). I’m President of the Sergei Bobrovsky fan club and cannot truly have an unbiased opinion devoid of sentimental attachment.
That being said, he also ruined 2 of my fantasy teams in 2020, so maybe I’m just being petty and vengeful. Then I ran a series of Twitter polls to determine the worst contract in the league, and Bob finished in the top 4 out of 32. So whether I’m right or wrong that this is terrible, at least Twitter agrees with this assessment.
"I'm not looking
at this as I'm replacing Marty Brodeur. I think I'm more continuing the legacy
of great goaltending in New Jersey.”
The Devils traded the first round pick that became Bo Horvat to acquire Cory Schneider from the Canucks, a move that drew harsh criticism from Canucks fans who were upset that they traded their goalie of the future. Cory’s first 2 years in New Jersey (under his old deal) were a stunning success, prompting Lou to give him a long-term extension.
He continued playing at an elite level in year one of this agreement, until he approached his 30th birthday, then his performance slipped below average and injuries became a problem. By year five he was playing mostly in the AHL, struggling to stop pucks at the NHL level, as Bo Horvat has blossomed into a star player. The Devils opted to buy out the final 2 years.
"I know our fans
have gone through some difficult times, but we said that we would remain
flexible and give ourselves a chance to improve our team under the new rules
governing the NHL with a new Collective Bargaining Agreement. We planned ahead
with this day in mind and we are extremely happy that we were able to achieve
some of our goals."
Nikolai Khabibulin was the Stanley Cup winning starting goaltender for the 2004 Tampa Bay Lightning and one of the most prized commodities available on the open market following the 2005 lockout. The Russian chose Chicago, who made him one of the highest paid players in the league. His year one salary is equivalent to a $14.1M cap hit in 2020. At age 32, he was only able to procure a 4-year term, and lucky for Blackhawk fans it wasn’t any longer.
Year one was an immediate disaster, with Nikolai recording an abysmal .886 SV% in 50 GP. The good news, that terrible performance helped the Hawks get the 3rd overall pick in the draft which became Jonathan Toews. In year two Nikolai was slightly better, but the team was even worse. Ultimately their goaltender helped them tank another season and draft Patrick Kane.
As bad as this contract was, it did have a happy ending for Hawks fans, none of whom would ever consider getting into a time machine to undo this transaction. If they had signed a good goalie here, Toews and Kane might never have joined the team. Do the 3 Stanley Cups even happen without Saint Nikolai? Once they got this contract off the books in July 2009, the following season resulted in a championship.
"I want to be a Ranger for life"
Henrik Lundqvist had spent the better part of a decade as one of the best goaltenders in the NHL, becoming a major celebrity in New York and one of the team’s most marketable stars. He had maintained his solid play past his 30th birthday, helping persuade management to give him a 7-year extension a few months shy of his 32nd b-day. Once again, there was no hometown discount, as Henry recaptured the crown of league’s highest paid goaltender, taking the title belt back from Pekka Rinne and Tuukka Rask.
Lundqvist was able to maintain a .920 SV% for the first 2 years before the downward trend began. Father Time comes for us all, even the really good-looking people. By year three, Hank still ranked #1 in goalie salary, but was unable to crack the top 40 in goals saved above average (among those with at least 10 games played). By year six, the only thing he was the King of was over-priced back-ups, and his no trade clause prevented the team from dumping his salary as part of their rebuild. The Rangers bought out the final year, with Hank taking a one-year deal to play with rival Washington.
"We have created
a buzz here in this market – we're starting to sell more and more tickets, more
and more sponsorships. We decided that we'd try and make an impact today to
continue that momentum."
Cristobal Huet had logged 3 NHL seasons mostly as a quality back-up before 2008, when he set a new career high with 52 games played and a .920 SV%. Many prognosticators concurred that the French goalie was ready to step into a primetime role, and Dale Tallon agreed. Huet signed with the Blackhawks on the same day as Brian Campbell, and was brought in to challenge a struggling Nikolai Khabibulin for the starting job. In year one Huet played in half Chicago’s games, providing league average goaltending, but losing the starting job to Khabibulin in the playoffs.
Year two was where this investment took a sharp downward turn. Huet was asked to take a greater role with Khabibulin’s deal expiring, but Cristobal was not equal to the task, posting an .895 SV% in 48 GP. Antti Niemi supplanted him as the primary goaltender in the playoffs, winning the Stanley Cup. Generally, Cup winners are excluded from my worst contract lists, except if their contribution to glory was minimal. Huet played one period that whole playoffs. Under enormous salary cap pressure that summer, Stan Bowman found a loophole that allowed the team to loan him to Europe to save money against the cap (but he still collected all his dough).
"Every single player in this
league wants to play for this organization right now. It's an amazing place to
live”
There is not a much better time for a goalie to reach the UFA market than immediately after winning a Stanley Cup, and J.S Giguere had that opportunity in the summer of 2007 following a brilliant season. He absolutely could have procured a bigger, longer deal elsewhere, but Jean had no desire to leave Anaheim. Instead he would accept a similar contract to what Tomas Vokoun had autographed 9 months earlier.
Sebastien had a good first year, winning 35 games with a .922 SV%, then the wheels came off the bus. By year two his SV% dropped to .900 and his GAA ballooned to 3.10. Eventually he would lose his primary starting role to Jonas Hiller, prompting a trade to the Toronto Maple Leafs for two of Toronto’s bad contracts (Jason Blake and Vesa Toskala). Giguere’s play in Toronto remained below average at a fat price. Peak Giguere ended in 2008 as a 30-year-old. His career continued for a few years in Colorado after this expired, mostly as a back-up at a fraction of this price.
"It sets a new
standard for Group 2 goaltenders that are that young. But there are very few
players that have won the Hart and Vezina at that age, so it will be very
difficult for another player to get that same contract."
Jose Theodore was only 3 years removed from winning the Hart trophy as league MVP, so the big salary he was awarded by Bob Gainey made sense. If anything, the team dodged a bullet by only giving him 3 years term. Jose played only 38 games in Montreal on this contract with a 3.46 GAA and .881 SV%, before being dumped on the Colorado Avalanche for David Aebischer.
The trade came after it was revealed that he had failed a drug test, but being juiced up on hair loss medication certainly didn’t help him stop pucks. Theodore would later improve, providing league average goaltending for the Avalanche in year three, helping him get a new deal that you can read about on the Washington Capitals worst contracts list.
"We're very
happy we could get this extension done with Martin and feel that he is just
beginning to hit his peak in terms of growth and prime playing seasons. He has
proven that he is more than capable of excelling in high-pressure situations
and big games, and we feel he has become one of the top goaltenders in the
League.”
Martin Jones had provided 2 consecutive seasons of mostly reliable goaltending for the Sharks (including backstopping the team to within 2 wins of the Stanley Cup in 2016), when Doug Wilson decided to give him a 6-year extension on the same day that he re-upped Vlasic. On July 1st 2017 Wilson committed $90M to Vlasic and Jones, which is in the conversation for worst day any GM has had in the salary cap era (Sather signing Drury and Gomez on the same day is probably still #1). Jones still had relatively few miles on his odometer for his age, but Doug could not foresee that Martin would hit a wall at age 28.
Over the first 2 years, Jones has been among the worst starting goalies in the league with an .896 SV%, eventually getting supplanted as the primary starter by Aaron Dell in year two. It’s always especially painful when a deal is this bad right out of the starting blocks. Fans don’t get the opportunity to enjoy a few good years before it starts breaking bad. He did manage to win 10 playoff games in 2019 with an .898 SV% as the Sharks were able to outscore their problems. Infact that quest to maximize offense by sacrificing defense might have had something to do with Jones demise. He may have been a victim of a different problem, but even so, it was a spectacular waste of money.
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