The NHL offseason was not as “big” as it has been in years past. At this time last season, the likes of Leon Draisaitl, Igor Shesterkin, Sidney Crosby, Brad Marchand, Sam Bennett, Shea Theodore, and many others were expected to become free agents this offseason. Every single one of them re-signed with their teams. Free agency was further diminished as dozens of players decided to stick with the devil they knew and re-signed for sometimes less than market value.
However, with a rising salary cap, some teams signed absolutely insane deals that are going to prove terrible very quickly. Some were short-term chances on a player with upside, but many of them were close to max contracts that will have implications for years to come.
Just because the salary cap is rising, it does not mean the team is forced to spend that money. There are deals across the league that still have us scratching our heads. Teams spent big across the board, but sometimes it made sense. Mitch Marner is worth a deal that pays him $12 million per season, especially being outside of the Toronto media sphere. Brad Marchand signed an insane deal that pays him until he’s 43 years old, but that’s a future Florida Panthers problem.
Sometimes, it made absolutely no sense. Which teams made the biggest money mistakes this offseason? For the record, we’re only counting contracts that have been signed since the end of the Stanley Cup Final. All contract data was collected from Puck Pedia.
10. Jonathan Toews
Winnipeg Jets
One Year, $2 million
On the surface, Jonathan Toews’ contract might be one of the most desirable contracts in the National Hockey League. He’s a former stud center who gave his hometown team, the Winnipeg Jets, a supposed discount. A former superstar center signing for just $2 million to a market like Winnipeg is usually good business.
However, there are some poison pill bonuses in this contract. The $2 million is just the guaranteed base salary. The total value of this contract is $7 million if Toews hits all his performance incentives. If Toews were to do that, the Jets would be on the hook for $5 million in salary cap expenditures next season for nothing in return. It’s basically a penalty if the Jets don’t win the ultimate prize.
To be fair, $1 million of Toews' bonuses is a Stanley Cup bonus, and if the Jets win the Stanley Cup, they won’t care about any future cap hits. The realistic part of this is the games played bonuses. After 20 games played, Toews gets $550,000. He gets another $550,000 for every 10 games played after that, up until 60 games played.
If Toews makes it to 60 games, he will get a total of $2.75 million in bonuses, and the Jets have to pay for that on the cap next year. It’s not the worst gamble for a guy who has been out of the league for two years, but it was more money than anyone expected Toews to command.
9. Thatcher Demko
Vancouver Canucks
Three Years, $25.5 million
This contract is going to be much, much different than the others on the list, and that’s part of why it’s on the list at all. The Vancouver Canucks didn’t have to do this contract right now. There was nothing forcing them to sign their goalie to a massive deal coming off a terrible season. The Canucks were a mess, between the J.T. Miller-Elias Pettersson beef that had them both in trade talks (and Miller shipped off to the Rangers), to their president saying at the end of the season that Quinn Hughes might want to play with his brothers, the Canucks are worse than a reality TV family.
We’re not surprised they are trying to show some solidarity. They gave Brock Boeser a huge contract, although a little over $7 million is pretty good business for him. They gave Connor Garland a contract that pays him $6 million through 2032. The most bizarre move was trading for Evander Kane, helping their rivals in Edmonton, and adding the Dennis Rodman of hockey to the locker room.
Adding all that together in a vacuum can be argued. Signing Demko to an extension a year before they had to for one of the biggest goalie contracts in the league is a head scratcher. Demko could be a top goalie, but he can’t stay healthy.
He played 23 games and had an .889 save percentage. That’s not a top goalie in the league. That’s actually a terrible goalie. Giving him $8.5 million after that year seems insane.
8. K’Andre Miller
Carolina Hurricanes
Eight Years, $60 million
This one will likely be a controversial take, but we hate the K’Andre Miller contract. The trade package is a ton, too, losing decent young defenseman Scott Morrow on top of multiple high-grade draft picks, but the contract is the real commitment here.
Miller was traded to the Carolina Hurricanes and immediately signed an eight-year deal worth a total of $60 million. That contract comes out to $7.5 million per season. That’s a lot of money, even in a rising salary cap world.
Miller has been a fine defenseman, but has he been a top defenseman? Is there something about his game so far that says he is going to be even better than he is now? He played really well with Adam Fox, but he’s one of the best defensemen in the world. When he was with anyone else, he was pretty bad. The Rangers were a mess last season, but the cream did not rise to the top here.
So for Miller to sign such a rich contract after an average year seems like a mistake by the Hurricanes. Carolina’s defensive system will probably get good metrics out of Miller, but they could have gotten similar metrics from a $3 million defenseman. They’ve lost big-name defensemen like Dougie Hamilton, Brett Pesce, Brady Skjei, and many others without missing a beat. Trading a bounty then paying a bigger bounty for a slight upgrade feels like a mistake.
7. Christian Dvorak
Philadelphia Flyers
One Year, $5.4 million
As a player and a gamble, Christian Dvorak is an interesting case. He was traded to the Montreal Canadiens to be a star center, but he immediately fell off the map. After scoring 17 goals in 56 games in 2020-21, the Canadiens sent a first and second-round pick to Arizona for him.
Dvorak was rough in Montreal. He saw a big drop in scoring and overall impact. Honestly, prior to last season, Dvorak was a complete disaster.
He was better last season, putting up 33 points and playing a full season, but the number the Flyers gave to Dvorak is insane. Yes, it’s just for one year, but it actually feels like a lose-lose for both parties.
Dvorak could have had term elsewhere for less money, but he’s probably betting on himself. Doing that in Philadelphia with this roster is a mistake. The Flyers probably think he’s going to be their new depth center. Did they really pay this guy $5.4 million to be a fourth-line center on a bad team?
6. Mikael Granlund
Anaheim Ducks
Three Years, $21 million
The Anaheim Ducks declared prior to the offseason that they wanted to compete in 2025-26. GM Pat Verbeek was ready to wheel and deal, making the moves to push them towards contention after a surprising 80-point season.
The Ducks made multiple significant moves this offseason, including another trade with the Rangers to acquire Chris Kreider, following their trade for Jacob Trouba during the season. They moved on from their problem children in John Gibson and Trevor Zegras. The Ducks are ready to put their roster in a competitive position. The final move was hiring head coach Joel Quenneville, the controversial figure after the 2010 Chicago Blackhawks assault scandal.
An interesting move by the Ducks was signing Mikael Granlund to a three-year deal, paying him $7 million per season. Granlund was a scary free agent. He got the San Jose Sharks a first-round pick from the Dallas Stars.
He scored 21 goals this season, something he hasn’t done since he was playing with the Minnesota Wild. That was four teams ago. Asking him to repeat such success is asking a ton.
5. Tanner Jeannot
Boston Bruins
Five Years, $17 million
Another trend in this offseason was teams trading term for cash. They wanted to bring the salary cap numbers down and kick the can down the road. There are plenty of examples, with Jake Allen’s deal with the New Jersey Devils being the most egregious, but the deal for Tanner Jeannot in Boston is just bizarre.
Jeannot was surprisingly one of the most popular free agents this season. Well, maybe it wasn’t so surprising since he hits hard and is tall. That’s why the Tampa Bay Lightning sent a huge trade package to the Nashville Predators to get his services in 2023. Just a year later, the Lightning traded Jeannot for a major loss to the LA Kings.
That should have been a sign to the Bruins that there was a problem here. He scored 24 goals in 21-22. Since then, he hasn’t scored 24 goals in three seasons combined. He’s coming off a season where he had seven goals and six assists in 67 games.
Why is this player getting a five-year deal from a Bruins team that doesn’t know which direction it should go? Maybe this is the Bruins attempt to tank for Gavin McKenna.
4. Ryan Lindgren
Seattle Kraken
Four Years, $18 million
Now we’re starting to get into the really bad contracts. Ryan Lindgren signed with the Seattle Kraken, one of the first major moves of the Jason Botterill regime. Lindgren has not hit his ceiling and likely never will. Yet, he still got a four-year deal with the Kraken, who desperately need upgrades across the roster.
He’s physical, and that is why he still has the value he does today. Teams want physical defenders, but there is an issue there. Players who prioritize other players as a significant value maker often also struggle with positioning. That’s why he was on the ice for a career-high 54 goals against at even strength.
Lindgren is basically a third-line defenseman who just got a second-line contract. The Kraken have some good pieces, but they needed to make the right moves this offseason.
With everyone talking about free agents targeting no-tax states, it’s crazy that the Kraken left free agency with Lindgren as their top signing.
3. Trent Frederic
Edmonton Oilers
Eight Years, $30.8 million
The Edmonton Oilers had some tidy business to take care of after yet another Stanley Cup Final loss. There were some free agents to sign, an Evander Kane to get out of, and they need to re-sign Connor McDavid for as long and as much as he sees fit. They need to build around McDavid and Leon Draisaitl, and they started by signing one of their trade deadline acquisitions.
Trent Frederic joined the Oilers in a three-team trade with the Bruins and Devils to make the contracts work last season. Before he hit unrestricted free agency, the Oilers gave Frederic a godfather offer.
He signed for eight years with an average annual value of just under $4 million. On top of the max contract in terms of years, the Oilers gave Frederic a full no-move clause for the first four years. Not only are they stuck with the contract with an inability to trade him where they please, if the league does another round of expansion, they are required to protect Frederic.
This contract is just terrible. It’s about eight years too long for the Oilers. Frederic had four points in the playoffs. What did they see in his time in blue and orange that would make them think he was worth such an investment?
2. Cody Ceci
Los Angeles Kings
Four Years, $18 million
The Los Angeles Kings want to beat the Edmonton Oilers in the playoffs. The Kings haven’t won a playoff series since they beat the New York Rangers in the 2014 Stanley Cup Final. Can you believe it’s been a decade since the Kings won a playoff series? Part of that is because the Oilers have beaten them four years in a row in the first round. The Kings just want one year where they play the Golden Knights.
Better yet, they’d like to take down the Oilers. So, they put their money where their defense is. They gave Brian Dumoulin a three-year deal worth $4 million, more than many expected him to get. At least Dumoulin was really good in the playoffs this past season for the Devils, and he has rings to his name. Ceci is a player that teams keep signing and trading for.
Ceci continues to go to teams, and the bottom falls out. The Kings are going to be his seventh team. Smart teams keep bringing him in. GM of the Year Jim Nill signed this man. Yet, it is still surprising to see deals like this happen.
Ceci can prove everyone wrong this year, but he’s 31 years old this season, and as he gets older, we can’t imagine he gets better. The Kings took a gamble on a guy who doesn’t really move the needle and one who doesn’t have untouched talent.
1. Ivan Provorov
Columbus Blue Jackets
Seven Years, $59.5 million
The worst contract signed in the NHL since the end of the Stanley Cup Final is the deal given to Columbus Blue Jackets defenseman Ivan Provorov before the markets opened. They gave him a seven-year deal worth $8.5 million.
Listen, Provorov is a fine defenseman, but he shouldn’t be a team’s top-line guy. The Blue Jackets are spending a mint on their defense, with fellow bad contract owner Damon Severson making $6.25 million per season, and deserved Norris Trophy candidate Zack Werenski makes a little more than $9.5 million (also deservedly).
The Blue Jackets observed the market's movement and knew someone would overpay for Provorov, so they decided to overpay for him significantly.
There weren’t a ton of terrible contracts this offseason like in years past, but there are still some stinkers. And the offseason isn’t over. There are huge extensions that are coming. Next year’s free agency has some superstars like Connor McDavid, Jack Eichel, and Kirill Kaprizov, plus top restricted free agents Connor Bedard, Lane Hutson, and Jason Robertson. Those contracts will age like win, but a contract for someone like Trevor Zegras could come with regret.