New York Islanders 15 Best Contracts (2005-2022)

This was originally published in my 2020 book Hunting Bargains in a Salary Cap World, 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 The book is still available on Amazon, though some of the stats on active contracts are now out of date.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. One thing you won't find here are entry level contracts because they all come from the same cookie cutter and require less skill at the negotiating table.

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.

If you’d like to browse my other best/worst contract lists, click here. 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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In the first 15 seasons after the NHL salary cap was introduced, the New York Islanders missed the playoffs 9 times. All but 3 of those campaigns were with Garth Snow at the steering wheel, hence why his signature dominates this list (Lou is slowly catching up).
 
The John Tavares contract ranks in the top 10 league-wide, but there’s a steep drop off after Johnny. One area where Garth did prove to be proficient was extracting bargain prices out of mid-level players, convincing some to ink long-term tickets near the league minimum. The strategy might have been effective at icing the best possible team on a tight budget, but it also did not translate into playoff success, or even that many playoff appearances.
 
There did seem to be a common theme of players praising how well they were treated by the organization, which may have helped management squeeze out some of these bargains.
 
 
1. John Tavares
 

Signed By:	Garth Snow		Position:	F
Date:	2011-09-14		Age July 1st:	21
Term:	6 years		Playoff GP:	24
Total Money:	$33M		Playoff PTS:	22
Cap Hit:	$5.5M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	39.3	426	419	1395
Per 82 GP	6.6	82	81	269	20.4

"At the end of the day, until it's signed, some people will think there's a possibility I don't want to be here. I don't quite understand it; I never have.”

– John Tavares

John Tavares signed this extension 9 months before the expiration of his ELC, after scoring 67 PTS in 79 GP. Waiting until the end of the season would have undoubtedly raised his price point, having scored 81 PTS in 82 GP. Clearly it was a massive mistake for him to lock in for 6 years at the price you’d pay to a 60-point center. This was the first overall pick a few years earlier who had been branded as a generational talent.
 
Of all the people to bet on themselves, Johnny should have been one of them. He deserved something in the range of Backstrom or Stamkos. Yet this set the template for Victor Hedman to sign a similarly low-ball offer from Tampa, and Nathan MacKinnon a few years later, all three of which are among the best bargains of the last 15 years.
 
Year one of this pact produced a Hart trophy nomination for league MVP, as did year three. He scored 419 PTS in is 426 GP (at a rate of 81 PTS per 82 GP), all this despite suffering a major knee injury at the 2014 Olympics.
 
 
2. Kyle Okposo
 

Signed By:	Garth Snow		Position:	F
Date:	2011-05-25		Age July 1st:	23
Term:	5 years		Playoff GP:	24
Total Money:	$14M		Playoff PTS:	15
Cap Hit:	$2.8M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	17.4	337	253	845
Per 82 GP	3.5	82	62	206	18.5

“I’m very excited to commit to the Islanders for the next five years, especially with the news of the new Coliseum”

– Kyle Okposo

Kyle Okposo scored 52 PTS in the 2nd year of his ELC and might have been paid accordingly on his next contract had he not lost a majority of the following season to a serious shoulder injury. That had to play a significant role convincing him to accept a 5-year term for $2M less than his previous campaign’s production should have been worth. If he was at all concerned about the injury having long-term effects, then taking this extension was ostensibly an insurance policy. Okposo’s reluctance to bet on himself was completely justified.
 
It did take 2 years before Okposo returned to his pre-injury scoring rate, exceeding it in year three, scoring 69 PTS in 71 GP. Over the full span of the treaty, the winger scored 253 PTS in 337 GP (or 62 PTS per 82 GP). This one made multiple appearances on my annual best 15 contracts in the NHL list.
 
 
3. Ilya Sorokin
 

Signed By:	Lou Lamoriello		Position:	G
Date:	2021-09-01		Age July 1st:	25
Term:	3 years		Playoff Wins:	0
Total Money:	$12M		Playoff SV%:	0.000
Cap Hit:	$4M		Stanley Cups:	0

 

	Avg Adj Cap Hit	GP	W	GAA	SV%
Total	4.0	52	26	2.40	0.925

“When you work every day with the best players, you get better”

– Ilya Sorokin

Ilya Sorokin was among the elite class of NHL puckstopper from the moment he arrived in the NHL in 2020. The biggest knock on this contract from a team perspective is that it was only 3 years, with Sorokin unrestricted at its end. It would be interesting to know if Lou wanted to sign him longer term, or if Sorokin wanted a faster track to the open market. If this had been 7 years at a $6M cap hit, it would still be here, posting a .925 SV% in year one at a time when goal scoring was booming league-wide.
 
There’s still a reasonable chance that Sorokin stays on Long Island beyond this contract, as nobody outside of Ken Holland is more cavalier about signing players long-term deals into their 30 than Lou Lamoriello. Lou is only cheap with the kids. Old dudes get paid.
 
 
4. Frans Nielsen
 

Signed By:	Garth Snow		Position:	F
Date:	2008-07-19		Age July 1st:	24
Term:	4 years		Playoff GP:	0
Total Money:	$2.1M		Playoff PTS:	0
Cap Hit:	$525K		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	3.0	288	162	526
Per 82 GP	0.75	82	46	150	17.3

“We’re excited to have Frans locked up for the next four years”

– Garth Snow

Frans Nielsen had only accumulated 31 GP of NHL experience (scoring 5 PTS) before accepting this rock-bottom compensation. It’s remarkably rare for any player to accept this much term at a salary this low (equivalent to the league minimum $750K in 2022). In the whole salary cap era, 98% of contracts with a similarly low adjusted cap hit are 2 years or less in duration.
 
For an agent to recommend this type of arrangement, there has to be very little faith in their client’s ability to attain and maintain a job in the NHL. This was a one-way deal which basically guaranteed him a roster spot, paying the same salary even if he was demoted. That job security was likely the main selling point, but again, it shows low expectations by both the client and agent. Even regular 4th line duty has a higher average salary than the league minimum.
 
Nielsen’s future certainly had more than 4th line spot duty on the horizon, as year one saw him score 33 PTS in 59 GP while averaging 16.5 minutes of ice time per game. All told, the center collected 162 PTS in 288 GP (or 46 PTS per 82 GP) for close to the league minimum. The average expected free agent value of his stat lines was $4.5M.
 
 
5. Andrew MacDonald
 

Signed By:	Garth Snow		Position:	D
Date:	2010-02-26		Age July 1st:	23
Term:	4 years		Playoff GP:	11
Total Money:	$2.2M		Playoff PTS:	2
Cap Hit:	$550K		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	3.0	265	86	280
Per 82 GP	0.75	82	27	87	23.8

“There are rumors going around. It’s part of the game, part of the business. For me, I try not to think too much about it or read too much.”

– Andrew MacDonald

Only 2 contracts under $800K in adjusted cap hit have had term of 4+ years in the salary cap era, and both of them were signed by Garth Snow. Andrew MacDonald had played 38 career NHL games when he autographed this extension in 2010, but was regularly being used over 20 minutes per game by the Islanders that season on the top pairing. It shouldn’t have mattered that his point totals were low, logging that many minutes over that many games has an expected free agent value of $1.2M.
 
MacDonald had played enough so that the agent should have believed that his client had at least a shot at regular duty in the future to forgo whatever job security he thought 4-year term provided. When all was said and done, the defenseman averaged 27 PTS per 82 GP over these 4 seasons, playing nearly 24 minutes per game. He produced $19.2M worth of value but got paid $3M (adjusted for cap inflation).
 
The Islanders traded him to Philadelphia near the end of the final year, and you can read about what happened next on the Flyers worst contracts list.
 
 
6. Ryan Pulock
 

Signed By:	Lou Lamoriello		Position:	D
Date:	2018-07-17		Age July 1st:	23
Term:	2 years		Playoff GP:	26
Total Money:	$4M		Playoff PTS:	7
Cap Hit:	$2M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	4.1	150	72	343
Per 82 GP	2.1	82	39	188	22.4

“Even before, I knew it was a big year for me and I had to step up my game”

– Ryan Pulock

Ryan Pulock scored 32 PTS in 68 GP in his first full NHL season before the RFA needed a new deal. The numbers he generated should have been worth at least $4M, but the young defenseman lacked arbitration rights and had played under 100 NHL games. Lou Lamoriello convinced him to accept this 2-year bridge for 50 cents on the dollar.
 
Pulock only got better, averaging 39 PTS per 82 GP over this stretch, putting himself in line for a big raise on the next ticket. In retrospect, getting him on a 5-year deal at $4M would have been even better in the long-term. The downside of the bridge from a General Manager’s perspective is that it lowers the probability of a big home run, but this was still a bargain none the less.
 
 
7. Mark Streit
 

Signed By:	Garth Snow		Position:	D
Date:	2008-07-01		Age July 1st:	30
Term:	5 years		Playoff GP:	6
Total Money:	$20.5M		Playoff PTS:	5
Cap Hit:	$4.1M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	28.1	286	179	569
Per 82 GP	5.6	82	51	163	24.5

"Mark was someone we targeted from the beginning and we're thrilled he's an Islander. Mark provides us with the stability on the blueline that we were looking for."

– Garth Snow

Mark Streit scored 62 PTS with the Montreal Canadiens at age 29 before becoming an unrestricted free agent. The Islanders landed the big prize at a smaller cap hit than Streit should have been able to command, almost certainly due to the 5-year term being offered. There had to be teams offering higher salary for a lesser term, scared off by his age.
 
Garth Snow was rewarded for his risk, as Streit averaged 51 PTS per 82 GP over this span. The Swiss defenseman did miss the entire 2010/11 season with a shoulder injury, which the Islanders were able to stash on LTIR. Streit would become the Islanders captain and landed another lucrative deal in Philly when this expired.
 
 
8. Frans Nielsen
 

Signed By:	Garth Snow		Position:	F
Date:	2012-02-08		Age July 1st:	28
Term:	4 years		Playoff GP:	24
Total Money:	$11M		Playoff PTS:	10
Cap Hit:	$2.8M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	13.5	287	182	598
Per 82 GP	3.4	82	52	171	17.6

"They have treated me so good here and I can't wait to be contenders again."

– Frans Nielsen

After being one of the most underpaid players in the league for the previous 4 seasons, Frans Nielsen had the opportunity to test the UFA market. He had been producing like a $4M player for multiple campaigns while getting paid like a 5th center. I’m not sure if he was getting bad advice for his agent, or if Garth Snow has a very convincing charisma, but Frans opted to forgo the UFA experience to sign a 4-year deal at a lower price than he was worth.
 
What the Islanders got was an even better player, posting 287 GP, 182 PTS, 598 shots, 68 power play PTS, 9 short handed PTS, and 1894 face off wins. A versatile player who can play in all situations. Don’t feel too bad for Frans, as he did hit the jackpot when he finally became an unrestricted free agent, and you can read about it on the Detroit Red Wings worst contracts list.
 
 
9. Matt Moulson
 

Signed By:	Garth Snow		Position:	F
Date:	2011-01-27		Age July 1st:	27
Term:	3 years		Playoff GP:	16
Total Money:	$9.4M		Playoff PTS:	6
Cap Hit:	$3.1M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	12.1	204	164	549
Per 82 GP	4.0	82	66	221	18.8

"I think there are some things people don't know about this team. I've told my agent and other people around the league about how we're treated, how they treat our families.”

– Matt Moulson

Matt Moulson had completed 2 full seasons in the NHL, averaging 50 PTS, the type of output you’d expect from a $5M player. What makes this extension even more confusing is that Moulson was a pending UFA with the opportunity to offer his services to the highest bidder, yet accepted a 3-year term at below the market rate for his production level. The winger signed in January, forfeiting his optimal earnings window.
 
This was a substantial triumph for Garth Snow, as Moulson scored 66 PTS per 82 GP. He had his career year of 36 goals, 69 PTS in year one. Despite delaying his path to unrestricted free agency, Matt was still able to hit a home run on his next ticket, which you can read about on the Buffalo Sabres worst contracts list.
 
 
10. Robin Lehner
 

Signed By:	Lou Lamoriello		Position:	G
Date:	2018-07-03		Age July 1st:	26
Term:	1 year		Playoff Wins:	4
Total Money:	$1.5M		Playoff SV%:	0.936
Cap Hit:	$1.5M		Stanley Cups:	0

 

	Avg Adj Cap Hit	GP	W	GAA	SV%
Total	1.6	46	25	2.13	0.930

"It's a scenario where you finish 31st you have to make some difficult choices. Part of it that was so disappointing and difficult about it is that I know Robin is passionate about the city of Buffalo, and passionate about helping this organization. We felt like we had to make some adjustments."

– Jason Botterill

Robin Lehner hadn’t exactly posted impressive numbers with the Buffalo Sabres in 2018, playing 53 games with 14 wins, 26 losses, and a .908 SV%; but it was still decent for a starting NHL goaltender. That should have been worth at least a 2-year deal in the neighborhood of $3.3M AAV. The problem for Buffalo is that Lehner was due a $4M qualifying offer, and they did not want him at that price. The goaltender became an unrestricted free agent, and couldn’t find a better offer than 1-year $1.5M from the Islanders.
 
Lehner was nothing short of sensational as an Islander, earning himself a Vezina trophy nomination after posting an incredible .930 SV% over 46 GP. It’s nearly impossible to get Vezina quality goaltending at this price, but Lehner proved the skeptics wrong by having a tremendous season, and made Jason Botterill look like an idiot.
 
 
11. Anders Lee
 

Signed By:	Garth Snow		Position:	F
Date:	2015-06-30		Age July 1st:	24
Term:	4 years		Playoff GP:	8
Total Money:	$15M		Playoff PTS:	4
Cap Hit:	$3.8M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	16.6	325	201	786
Per 82 GP	4.1	82	51	198	16.1

“The organization has been nothing but first class to me from the moment I was drafted. I look forward to competing for the Stanley Cup in each year while playing in front of the best fans in the NHL”

– Anders Lee

Anders Lee had just completed his first full season in the NHL, scoring 25 goals and 41 PTS in 76 GP. He was rewarded with a salary that was higher than what the stat line should have been worth, but the caveat was that Lee was passing up on 2 years of UFA status.
 
Year one proved to be a disappointment, as his output dropped to 15 goals and 36 PTS, but everything afterwards was sublime. The fact that he was moved to a line with John Tavares in year two likely played a contributing factor in the turnaround, as there was a drop in production after Johnny left town (Lee’s shooting percentage dropped nearly 6%).
 
The Islanders rewarded Lee for his service, naming him captain after Tavares bolted and locked him into a lucrative 7-year extension that you can read about on the Islanders worst contracts list.
 
 
12. Devon Toews
 

Signed By:	Lou Lamoriello		Position:	D
Date:	2018-07-16		Age July 1st:	24
Term:	2 years		Playoff GP:	26
Total Money:	$1.4M		Playoff PTS:	11
Cap Hit:	$700K		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	1.5	116	46	203
Per 82 GP	0.75	82	33	144	19.4

“People just didn’t think I was big enough to be able to handle bigger and stronger players. And I can’t really blame them. I was pretty small, but I was still putting up points and playing really well.”

– Devon Toews

Devon Toews spent his entire 2-year ELC in the AHL, scoring 67 PTS in 103 GP.  Lou offered him a 2-year contract at the league minimum that guaranteed Devon he’d be paid an NHL salary even if he was demoted back to the minors.
 
The young defenseman started this deal in Bridgeport, until her earned a call-up later in the season, where he performed admirably. In 48 GP he scored 18 PTS (31-point pace) adding an additional 5 PTS in 8 playoff games. By year two he earned an even bigger role, logging over 20 minutes per game of ice time and scoring at a 34-point pace in the Covid shortened season, performing like a $5M player for 15 cents on the dollar. Afterwards he became an Islanders cap casualty and was traded to Colorado where he signed a new 4-year contract.
 
 
13. Mathew Barzal
 

Signed By:	Lou Lamoriello		Position:	F
Date:	2021-01-09		Age July 1st:	23
Term:	3 years		Playoff GP:	19
Total Money:	$21.3M		Playoff PTS:	14
Cap Hit:	$7.1M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	21.3	128	104	295
Per 82 GP	7.1	82	67	189	18.3

"Now being paid a substantial amount, I know consistency's a huge thing. There's no nights off."

                                                                                                          – Matt Barzal

In his first 5 NHL seasons, Matt Barzal never scored below a 60-point pace and was a very consistent scorer. He produced at a $7M rate in the final year of his ELC and received a bridge deal at a fair market price. The center was worth every penny for all 3 seasons, and returned solid value on their investment. There were many reports early in his career that Barry Trotz was capping his output by forcing him to make a greater commitment to defense, and he did get a bump in production when Trotz departed.

My only question is whether or not a longer term deal was on the table, and what price it would have taken to lock him into an 8-year term. He did sign an extension at $9.2M, which is a little too high given his production in recent seasons, but we’ll see if he grows as a player and whether or not the salary cap increases. I’m not yet willing to declare that pact either good or bad and am waiting to see how it plays out before committing one way or the other.

 
14. Brock Nelson
 

Signed By:	Garth Snow		Position:	F
Date:	2015-09-16		Age July 1st:	23
Term:	3 years		Playoff GP:	11
Total Money:	$7.5M		Playoff PTS:	5
Cap Hit:	$2.5M		Stanley Cups:	0

 

	Adj Cap Hit	GP	PTS	SOG	ATOI
Total	8.5	244	120	476
Per 82 GP	2.8	82	40	160	15.4

"We haven't heard from them in six weeks. Garth and I talked six weeks ago after they made an offer, which was nowhere near commensurate with what players like Brock are making. Garth said he'd get back to me and that was it. No negotiations whatsoever."

– Agent Ron Salcer

Brock Nelson scored 20 goals and 42 PTS in the final year of his ELC, and went unsigned into September, eventually agreeing to this 3-year pact at a lower price than his stat line should have been worth. Colin Wilson had an almost identical stat line that summer and netted 4 years at $4.5M AAV.
 
Garth Snow made them an offer in early August that Brock’s agent claimed was 1/3 of what comparable players were worth, then Snow ceased negotiating until after training camp. There was even a threat that they’d force Nelson to sit out the entire season if he missed opening night. Brock capitulated.
 
The center proved to be consistent, averaging 40 PTS per season over this span, earning himself a decent pay raise on his next deal.
 
 
15. Thomas Greiss
 

Signed By:	Garth Snow		Position:	G
Date:	2015-07-01		Age July 1st:	29
Term:	2 years		Playoff Wins:	5
Total Money:	$3M		Playoff SV%:	0.923
Cap Hit:	$1.5M		Stanley Cups:	0

 

	Avg Adj Cap Hit	GP	W	GAA	SV%
Total	1.7	92	49	2.54	0.918

“We’ve been patient through the rebuild. And now we’re looking tot make the next step.”

– Garth Snow

Thomas Greiss at this stage of his career was mostly a journeyman back-up goalie and found himself on the UFA market after playing 20 games with Pittsburgh the year prior, posting a .908 SV%. The money could be considered generous given that stat line, but he had managed to post a .920 SV% in 25 GP for Phoenix Arizona in 2013/14.
 
There was reason for the team to be optimistic that Greiss could share in the starting duties, and that’s exactly how it played out. The German played 92 games with 49 Wins, 29 Loses, with a 2.54 GAA and .918 SV%. That’s a bargain. He would double his salary on the next contract, which was a candidate for their worst contracts list.