NHL: From Free Agent Blockbusters to Salary Cap Nightmares

The dust has settled in the free-agent frenzy.

Players with new contracts are dwelling in their fortunes, player agents are enjoying their well-earned commissions, and spending GMs, for the most part, feel they have added a successful piece of the puzzle that will allow their team to compete.

As hockey fans, we know that as the contract endures players and player agents always do enjoy their fortunes—however GMs are sometimes a little disappointed with their return.

There always seems to be an Alexei Yashin, Jose Theodore, Darcy Tucker or Ray Emery in the mix—a player who signs a big contract, assumed to be a vital part of the teams future, does not perform up to standards, and ends up being traded or bought out.

This usually leaves teams in an awkward position, forcing them to either rush prospects through their system faster than they intended, or try to make a trade that often proves to be just as unsuccessful as the initial signing.

It would be naive to think that this crop of free agent signings would be without a few disappointments. Here are my top three candidates for most likely to be bought out, dealt, or viewed as a bad move by fans and/or media.

3. Matt Sundin (UFA): offered two years, $20 million by the Vancouver Canucks

Yes, yes, I know he didnt sign it yet—and might never. But the fact that this was even offered in the first place deserves a spot on this list. Had he signed this outrageous proposal it would have been a runaway for number one.

This contract is outlandish, and exposes Canucks GM Mike Gillis' inexperience in a management role.

I'm not saying Matt Sundin can't play. He's shown over the past couple seasons that he is still a fierce competitor, and a force to be reckoned with on the ice. The issue I have with this contract is its $10 million cap hit on a team with a thin depth chart and only $20 million in salary cap space.

Sundin's salary cap hit would prevent Vancouver from addressing their depth. Last season Vancouver had a first line of all Swedes and limited secondary scoring. Had Sundin signed this contract, the 2008-09 Vancouver Canucks would have a first line of all Sweeds—and limited secondary scoring.

In a rapid turn of events, however, Vancover signed a number of players, including Kyle Wellwood, Nolan Baumgartner, and Steve Bernier, and is left with $9.509 million cap room—not enough to complete their offer to Sundin. 

As a former player agent, Mike Gillis is no stranger to contract negotiations—and surely knows very well that a secondary offer that is less than the one you first proposed isn't going to fly. If their first offer was reasonable, they wouldn't have this problem. This was a dumb move.

Forecast: Sundin will not sign here and Gillis will look bad. Guaranteed.

2. Mark Streit (NYI): five-year contract worth $20.5 million

Drafted in the ninth round of the 2004 draft, the 30-year-old Streit joined Montreal for the 2005-06 season, playing 42 games and scoring 11 points with a minus-6. 

He started to receive some hype in the 2007-08 season when he took over the power-play quarterback position vacated by Sheldon Sourey (another free agent disappointment) and finished the year playing 81 games, scoring 13 goals and setting up another 49.

I think Streit is great player but I also think five years at $4.1 million a year is too much. He is 30 years old, and has really only had one great NHL season. Streit has had success in the Swiss league, but his consistency as an NHL player is unproven.

To be blunt, Streit is a great power-play quarterback, but his lack of size and confidence makes him ineffective in his own end. In fact, the last time Streit has finished a season as a plus player was the 1999-2000 campaign when he played for Tallahassee of the ECHL.  

Granted, most of his points come on the power play—which does not count for plus-minus. It should also be noted that he quarterbacked the best power play in the NHL and is going to the NHL's second-worst power play, which lost contributors Miroslav Satan and Ruslan Fedotenko to free agency.

He will not be working with the same skilled players that he was in Montreal.  I can't see this being a good long term investment for the NYI.

Forecast: Streit will have a mediocre first and second year, then be trade material after that.

1. Cristobal Huet (CHI): four-year contract worth $22.4 million

My issue with this contract is both the length and the money. In the last year of the contract, Huet will be 37 and a cap hit of $5.6 million a year. This puts him ahead of Nabokov and Brodeur.

This is a prime example of a GM getting trigger-happy with the chequebook. This deal just doesn't make sense.

Yes, we all saw in Montreal how Huet can dominate a game—but we also saw his consistency was an issue. Goaltending has been an problem in Chicago ever since Khabibulin didn't live up to expectations, and the Blackhawks don't exactly have a star goaltender prospect coming up in their system.

Chicago has a wealth of talent and needs a goaltender to match it. But Huet's not it. He will be a band-aid for at most the first two years, and a definite burden for the last two.

Forecast: Huet will continue to alternate between brilliant and dreadful. Chicago will attempt to trade Huet, but his age and contract will discourage buyers.

He will play the first two seasons and back up the young goaltender Chicago should bring in for the third. After the third season, Huet will be bought out, and will retire or finish his career in the Swiss league.

Honourable Mentions

Wade Redden, to a six-year contract worth $39 million.

Michael Ryder, to a three-year deal worth $12 million.

Mike Commodore, to a five-year deal worth $18.75 million.