Colorado Avalanche 15 Worst Contracts (2005-2022)

This was originally published in my 2020 book The Definitive Guide to Salary Mismanagement, and has now been updated with new contracts. I will continue to update each team’s list every summer going forward. The rule is that only active contracts can move up or down. Expired deals cannot pass each other. Next summer it may even be expanded to top 20. The book is still available on Amazon, though some of the stats on active contracts are now out of date. You may yet find it interesting because there were detailed stat graphics that you won't find here.

My latest book The Hockey Economist’s Betting Prospectus is now available. It's a comprehensive commentary on the last 3 years of hockey betting, broken down by team, by category, by strategy, by season. There is plenty of useful information for bettors of all skill levels. It covers pre-pandemic, peak-pandemic, post-pandemic. What worked, what failed. Lessons learned, market trends, team-by-team analysis. What impact did the pandemic have on hockey betting? The market differences between these 3 seasons are discussed at length, and there's a lot to talk about. To read more, visit the Amazon store.
 
Enjoy! Please note: The formatting on the graphics got scrambled being copied from Excel into Google Blogger. It's among the reasons my blog is looking for a new home.

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The Colorado Avalanche endured some difficult seasons after the retirement of Joe Sakic the player, who had delivered a decade of sustained success and multiple championships. When the team needed to be saved from the folly of Greg Sherman, they turned to a franchise icon for salvation.
 
Joe has been the General Manager since 2014 and is only responsible for 3 of their worst contracts. Francois Giguere made a greater contribution to this list despite fewer years in the job, as the man tasked with squeezing every last drop out of Sakic’s playing career, that ended after the 2009 season. Francois made some blunders bringing in aging veterans to prop up his aging star.
 
They won the Stanley Cup in 2022 and will continue challenging for years to come. Joe delivered glory to this franchise as a player, and again as General Manager.
 
 
1. David Jones
 

Signed By:	Greg Sherman		Position:	F
Date:	2012-06-07		Age July 1st:	27
Term:	4 years		Playoff GP:	17
Total Money:	$16M		Playoff PTS:	6
Cap Hit:	$4M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	19.7	223	74	364
Per 82 GP	4.9	82	27	134	14.3

"David has been one of our top offensive players over the past two seasons. He is a product of our organization who has developed into a proven goal scorer.  We are pleased to have him under contract as he enters the prime of his career."

– Greg Sherman

David Jones was scheduled to become an unrestricted free agent at age 27 after scoring 37 PTS in 72 GP, when Greg Sherman took him off the market 3 weeks before July 1st with a very generous 4-year extension. This was nearly identical to a deal signed by Drew Stafford one year earlier after scoring 52 PTS in 62 GP. Jones potted 45 PTS in 2011, which was closer to the production that this pay grade deserves.
 
D.J fell flat on his face right out of the gate, scoring just 9 PTS in 33 GP (22-point pace) in the lockout shortened season. That was all Sherman needed to see before deciding to cut bait, shipping Jones to Calgary with Shane O’Brien for Alex Tanguay and Cory Sarich. While Tanguay was decent for Colorado, you can read about that Sarich pact atop the Flames worst contracts list. Jones retired when this expired.
 
 
2. Ryan Smyth
 

Signed By:	Francois Giguere		Position:	F
Date:	2007-07-01		Age July 1st:	31
Term:	5 years		Playoff GP:	20
Total Money:	$31.25M		Playoff PTS:	12
Cap Hit:	$6.25M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	45.1	363	242	1020
Per 82 GP	9.0	82	55	230	19.3

“We identified the cream of the crop, of five or six players, and we feel we got two of them. I was hoping we’d get one and we got two. At the end of the year, we had to determine what the needs we were looking for, and these two guys fit those needs.”

- Francois Giguere

After a long career with the Edmonton Oilers, Ryan Smyth finally decided to test unrestricted free agency at age 31. The gritty winger had two of his best seasons following the 2005 lockout, scoring 72 goals and 134 PTS in 146 GP (75-point pace). It took a big price to win the bidding war, but Smyth would choose the Avalanche on the same day as Scott Hannan (more on him to come). Jarome Iginla would sign a very similar extension with the Flames 3 days later.
 
Year one showed immediate decline, with Smyth posting one of his worst offensive seasons in nearly a decade (aided by multiple different injuries). He rebounded with 26 goals and 59 PTS in year two before the Avs traded him to the LA Kings for Tom Preissing, Kyle Quincey, and a 5th round draft pick. After two mediocre seasons, the Kings traded him back to Edmonton for Colin Fraser and a 7th round pick. Ryan signed one more contract with the Oilers when this deal expired.
 
 
3. Shane O’Brien
 

Signed By:	Greg Sherman		Position:	D
Date:	2012-06-25		Age July 1st:	28
Term:	3 years		Playoff GP:	0
Total Money:	$6M		Playoff PTS:	0
Cap Hit:	$2M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	7.5	73	7	44
Per 82 GP	2.5	82	8	49	12.9

“Having Shane under contract further solidifies our blueline”

– Greg Sherman

Shane O’Brien experienced an offensive resurgence after arriving in Denver as an unrestricted free agent the previous season, scoring 20 PTS and logging 19.2 minutes per game on the second defensive pairing. It was a strong enough performance that Greg Sherman felt comfortable extending the hard-nosed player to a 3-year extension at age 28. But there was a reason that O’Brien had bounced around to 5 different teams over the previous 5 years, as he had a reputation as a party animal off the ice.
 
Shane’s offensive renaissance proved to be just an aberration, as his production and ice time plunged immediately (4 PTS in 28 GP in year one with 15.5 average ice time). Somehow Sherman was able to find a buyer to take both Jones and O’Brien off his hands, shipping both bad deals to the Calgary Flames for Alex Tanguay and Cory Sarich. Perhaps Jay Feaster still felt bad about the O’Reilly offer sheet fiasco and executed this transaction as a mea culpa (neither Feaster or Sherman lasted much longer as NHL General Managers). The Flames buried O’Brien in the AHL before buying out the final year. He played 9 more games in the NHL before defecting to Finland.
 
 
4. PA Parenteau
 

Signed By:	Greg Sherman		Position:	F
Date:	2012-07-01		Age July 1st:	29
Term:	4 years		Playoff GP:	15
Total Money:	$16M		Playoff PTS:	5
Cap Hit:	$4M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	19.7	159	98	312
Per 82 GP	4.9	82	51	161	16.9

"P.A. is a skilled winger who will instantly improve our offense. He’s a dynamic player who will help our power play and complement our young centers."

– Greg Sherman

PA Parenteau was a late bloomer who did not break out as an offensive threat in the National Hockey League until age 27 with the New York Islanders. The winger potted 67 PTS before reaching the UFA market at age 29, attracting a generous bid from Greg Sherman, who bestowed PA with the same contract he’d given David Jones 3 weeks earlier.
 
While the Jones investment would turn sour a few months later, Parenteau actually had a good first season in Denver, scoring 43 PTS in 48 GP. Then in year two (after his 30th birthday) PA’s output dropped to 33 PTS in 55 GP (knee injuries played a contributing factor) before being traded to Montreal in the summer for another terrible contract (Daniel Briere). In Montreal PA scored just 22 PTS in 55 GP before being bought out.
 
 
5. Scott Hannan
 

Signed By:	Francois Giguere		Position:	D
Date:	2007-07-01		Age July 1st:	28
Term:	4 years		Playoff GP:	24
Total Money:	$18M		Playoff PTS:	2
Cap Hit:	$4.5M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	26.7	322	58	258
Per 82 GP	6.7	82	15	66	21.7

"Joe sent the message he believed in this team. What these guys are saying by signing here is they believe."

- Francois Giguere

Francois Giguere could not have been more excited on July 1st 2007 when he landed both Scott Hannan and Ryan Smyth, but it certainly seemed to be Joe Sakic who had lured the two veterans to Denver. Hannan had long been a useful two-way defender for the San Jose Sharks, with modest offensive upside in the 20+ point range. He would sign a very similar deal that Eric Brewer had received from St. Louis a few months earlier.
 
Unfortunately, Hannan’s trend line in both offense and ice time was about to turn south as Scotty approached his 30th birthday (coincidently the same thing happened to Brewer). Hannan may have brought some intangibles to the ice that didn't show up on the scoresheet, but that's too expensive for a defenseman who provided 58 PTS in 322 GP (15-point pace). Had they paid him half this sum, it would have been a decent deal. During the final year he was traded to Washington for Tomas Fleischmann, who scored 21 PTS during his 22 games with the Avs.
 
 
6. Ryan Wilson
 

Signed By:	Greg Sherman		Position:	D
Date:	2012-06-25		Age July 1st:	25
Term:	3 years		Playoff GP:	4
Total Money:	$6.75M		Playoff PTS:	2
Cap Hit:	$2.25M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	8.5	43	9	49
Per 82 GP	2.8	82	17	93	15.5

"Ryan brings an element that complements our defense"

– Greg Sherman

Ryan Wilson’s primary role on the Avalanche defense had been providing a physical component, while also contributing to the offense. Injuries were already a concern, as Wilson had not surpassed the 70-game threshold in a single season, a problem that only worsened under his new extension. Wilson reached this agreement on the same day as Shane O’Brien, both for 3 years, with Ryan securing slightly more money.
 
A multitude of different health issues contributed to the decline of Ryan Wilson, but he also struggled when healthy, at one point missing 17 consecutive games as a healthy scratch in year two. That’s far too much money to pay a player to watch games from the press box. Ryan’s next contract was in the KHL.
 
 
7. Adam Foote
 

Signed By:	Francois Giguere		Position:	D
Date:	2008-06-30		Age July 1st:	36
Term:	2 years		Playoff GP:	6
Total Money:	$6M		Playoff PTS:	1
Cap Hit:	$3M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	8.7	109	16	45
Per 82 GP	4.4	82	12	34	19.5

“He has been an important leader for this franchise for many years and we’re counting on him to play the same role over the next two seasons.”

– Francois Giguere

Adam Foote had endured/enjoyed a long successful career, mostly in a Nordiques Avalanche jersey (the Columbus chapter of his story was less distinguished). Francois Giguere had traded a 1st round draft pick to rent Foote from the Blue Jackets the previous season, before extending him on a generous 2-year ticket at age 36 (Aaron Ward had signed a similar deal for slightly less money 6 weeks earlier).
 
Some of the money he banked can be considered a reward for past championship contributions. Regrettably, Foote did not have much left in the tank, as the offensive component of his game had greatly diminished. His average ice time shrunk to under 20 minutes per night, his points fell into the single digits with a 43% corsi. He would last one more year before retiring.
 
 
8. Joe Colborne
 

Signed By:	Joe Sakic		Position:	F
Date:	2016-07-01		Age July 1st:	26
Term:	2 years		Playoff GP:	0
Total Money:	$5M		Playoff PTS:	0
Cap Hit:	$2.5M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	5.6	62	8	48
Per 82 GP	2.8	82	11	63	10.7

“There were some pretty good offers from some pretty good teams. This is almost like a second home for me. I had two unbelievable years at DU and kept in touch and have been back visiting every summer since.”

- Joe Colborne

Joe Colborne was only owed a $1.5M qualifying offer (adjusted for cap inflation) from the Calgary Flames following a career best 19 goal and 44-point campaign. Brad Treliving declined, allowing the big center to hit the UFA market one year early. Surely the Flames would have been happy to have him back at the qualifying price, but had this gone to arbitration (as it appeared to be heading), the prize would have been expensive.
 
Joe Sakic scooped him up on day one of free agency, bringing Colborne back to the city where he played college hockey. Joe might have bought a 44-point player, but what arrived in Denver was an 8-point fourth liner who grossly underperformed his pay grade. Colborne was not able to make the opening night roster the following season, clearing waivers and reporting to the AHL. This marked the end of his pro career.
 
 
9. Darcy Tucker
 

Signed By:	Francois Giguere		Position:	F
Date:	2008-07-01		Age July 1st:	33
Term:	2 years		Playoff GP:	6
Total Money:	$4.5M		Playoff PTS:	0
Cap Hit:	$2.25M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	6.5	134	40	167
Per 82 GP	3.3	82	24	102	13.0

“The biggest thing for me was that Tony Granato got on the phone and swayed me over”

– Darcy Tucker

Darcy Tucker was not supposed to be an unrestricted free agent on July 1^st 2008 until the Toronto Maple Leafs unceremoniously bought out his previous contract after a disappointing 34-point season. Francois Giguere rolled the dice with this 2-year deal at a fair price for the stat line, close to what Chris Kelly extracted from Ottawa one week earlier, but less term.
 
Unfortunately, Tucker was never again able to even approach his disappointing point total that got him booted out of Toronto, scoring 16 PTS in 63 GP for the Avs in year one. The gritty veteran finished with 40 PTS in 134 GP (24-point pace). Darcy retired from professional hockey when this ticket expired. On a personal note, I always hated this guy.
 
 
10. Brad Stuart
 

Signed By:	Joe Sakic		Position:	D
Date:	2014-09-28		Age July 1st:	35
Term:	2 years		Playoff GP:	0
Total Money:	$7.2M		Playoff PTS:	0
Cap Hit:	$3.6M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	8.2	6	0	0
Per 82 GP	4.1	82	0	0	14.0

“Let’s take a stroll down memory lane, and recall how this soul-sucking, team-killing travesty of a management decision came about”

– an Avalanche blogger

The Avalanche paid 2^nd and 6^th round draft picks to acquire Brad Stuart from the San Jose Sharks, with Joe Sakic locking him into a 2-year extension a few months later, before he’d even played a game in an Avs jersey. In retrospect, Joe should have waited to see how Brad’s first season played out before making this commitment, as the veteran defenseman struggled with injury, posting a weak 38% shots-for differential as the team missed the playoffs.
 
Once this pact began, Brad struggled before missing most of the season with another health issue. There were rumours that he was a negative influence in the locker room, with the Avalanche deciding to buy out the final year of his deal. He never played pro hockey again.
 
 
11. Francois Beauchemin
 

Signed By:	Joe Sakic		Position:	D
Date:	2015-07-01		Age July 1st:	35
Term:	3 years		Playoff GP:	0
Total Money:	$13.5M		Playoff PTS:	0
Cap Hit:	$4.5M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	15.2	163	52	259
Per 82 GP	5.1	82	26	130	23.3

“You look at the Avalanche organization the last few years, they've been able to take steps forward to bringing a championship team back. I was really excited to see them want me with this club.''

– Francois Beauchemin

It’s unlikely that Francois Beauchemin had many suitors offering him a 3-year term when he became an unrestricted free agent at age 35. The veteran defenseman had mostly been lingering around the 20-point mark for the previous few seasons in Anaheim, but still logged big minutes on the Mighty Ducks blueline. Joe Sakic brought him to Colorado so Beauchemin could play on the top pairing with Erik Johnson, and paid him like a top pairing guy.
 
In year one he played 25 minutes per game and chipped in with 34 PTS. Year two he played 21.5 minutes per game and dropped down to 18 PTS before the contract was bought out. The Avs might not have bought out the final year if not for the expansion draft, as Francois had a no movement clause that would have forced Colorado to protect him.
 
 
12. Jarome Iginla
 

Signed By:	Greg Sherman		Position:	F
Date:	2014-07-01		Age July 1st:	37
Term:	3 years		Playoff GP:	0
Total Money:	$16M		Playoff PTS:	0
Cap Hit:	$5.3M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	18.6	244	133	524
Per 82 GP	6.2	82	45	176	16.4

"I think they're getting better and better, and I love the way they play"

– Jarome Iginla

Jarome Iginla enjoyed a long Hall of Fame career as one of the NHL’s most renowned power forwards, who scored an impressive 30 goals and 61 PTS at age 36 in Boston. Iggy’s body had endured many hard miles, already defying the odds to stay productive this far past his 30th birthday, but Father Time is undefeated. You can delay his arrival, but he comes for all of us eventually, even Hall of Famers (Nick Lidstrom notwithstanding).
 
There was no deterioration in year one of this deal, but Jarome’s 38^th birthday proved to be the tipping point where the slide began. The Avalanche missed the playoffs all 3 of these seasons. By year three, the winger potted just 27 PTS in 80 GP and was traded to the LA Kings as a rental for a conditional 4th round draft pick (the Kings would miss the playoffs). Jarome retired when this expired.
 
 
13. Karlis Skrastins
 

Signed By:	Francois Giguere		Position:	D
Date:	2006-06-30		Age July 1st:	31
Term:	3 years		Playoff GP:	0
Total Money:	$7.2M		Playoff PTS:	0
Cap Hit:	$2.4M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	11.9	208	34	165
Per 82 GP	4.0	82	13	65	20.2

"He was a really nice guy and great family man. There isn't a single bad thing to say about him."

– Stephane Robidas

Karlis Skrastins was the reigning NHL ironman among defensemen when he signed this extension at age 31, having played in over 400 consecutive games. The Latvian did not accumulate many hits or points as a defensive specialist. That’s an expensive price to pay for blocks. His ironman streak was broken in year one of this deal.
 
In year two he was traded to the Florida Panthers with a 3^rd round pick for Ruslan Salei. His play improved in Florida to earn himself one more decent pay day in Dallas, after which he departed for the KHL, where he was tragically killed in the Lokomotiv plane crash. By all accounts he was a great person. RIP.
 
 
14. Greg Zanon
 

Signed By:	Greg Sherman		Position:	D
Date:	2012-07-01		Age July 1st:	32
Term:	2 years		Playoff GP:	0
Total Money:	$4.5M		Playoff PTS:	0
Cap Hit:	$2.25M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	5.8	44	6	40
Per 82 GP	2.9	82	11	75	19.3

"Greg is a veteran defenseman who adds experience and depth to our blueline"

– Greg Sherman

Greg Sherman was looking for a veteran defenseman to add experience to their blueline, but paid an unusually high price for one who had just scored 8 PTS in 56 GP, averaging 17.8 minutes of ice time. Greg Zanon was never an offensive producer, but even his usage had been declining. Cory Sarich had procured a similar sum with similar stats the previous week, but for less money.
 
Zanon played one season in Colorado and scored 6 PTS in 44 GP at age 32 during the lockout shortened season before the team exercised a compliance buyout. He played one more year in the AHL before retiring.
 
 
15. Semyon Varlamov
 

Signed By:	Greg Sherman		Position:	G
Date:	2014-01-30		Age July 1st:	26
Term:	5 years		Playoff Wins:	0
Total Money:	$29.5M		Playoff SV%:	0.000
Cap Hit:	$5.9M		Stanley Cups:	0

 

	Avg Adj Cap Hit	GP	W	GAA	SV%
Total	6.6	238	105	2.79	0.914

"Undoubtedly, Semyon has been an impact player for us this season. At only 25 years old, he is entering the prime years of his career and he wants to be part of this franchise moving forward.”

– Joe Sakic

Semyon Varlamov was in the middle of a Vezina caliber season when Joe Sakic locked him up to a big 5-year extension. Corey Crawford had signed a similar deal a few months earlier after winning a Stanley Cup. The Avalanche would only get 2 years of above average goaltending. Varlamov was downright awful in year three, posting an .898 SV% in 24 GP before hip surgery knocked him out for the season.
 
Eventually Philipp Grubauer was acquired to compete for the starting job, which he did. Semyon sat on the bench for almost the entire 2nd half of the schedule in year five while a red-hot Grubauer carried the team into the playoffs. Despite that setback, there was still another $20M waiting for the Russian when this deal was complete.