Ranking the 8 Best Bargains in the NHL Right Now

Signing a promising player to a lucrative new contract always comes with a degree of risk for an NHL team. As we noted last week, there are instances when these deals can go wrong for various reasons. Sometimes, however, it can turn into a bargain if a player exceeds expectations.

A contract that seemed like an overpayment when it was signed can work out better than expected, such as Leon Draisaitl's eight-year deal with the Edmonton Oilers. A savvy general manager can also convince a budding superstar to accept less than market value, such as when the Colorado Avalanche re-signed Nathan MacKinnon.

Here's our ranking of the eight best bargains in the NHL right now. A player's age, performance and annual average value compared to those of other stars of equal caliber factored into this compilation. We did not include entry-level contracts, as those are capped and cannot be considered bargain deals.

8. Seth Jones, Columbus Blue Jackets

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Since joining the Columbus Blue Jackets in a trade with the Nashville Predators on January 6, 2016, Seth Jones has become one of the league's best defensemen. The six-year, $32.4 million contract he signed six months later has turned into quite a deal for his club.

Jones showed considerable potential as a skilled, all-around blueliner early in his career with the Predators. Over the past four seasons, he's blossomed into the Jackets' top rearguard, tallying 42 or more points three times. Despite injury and the shortened schedule, he still managed 30 points in 56 games last season.

The 26-year-old Jones has the makings of a future James Norris Memorial Trophy winner. He led the Jackets last season in time on ice per game (25:17) and was among their leaders in blocked shots (123) and takeaways (29). He remained the 2020 postseason leader in ice time with an impressive 32:40 despite the Jackets' first-round elimination.

Jackets general manager Jarmo Kekalainen did a fine job getting Jones under a long-term contract with an annual average value of $5.4 million. Kekalainen will have to pay considerably more, however, to keep the talented blueliner from becoming an unrestricted free agent in 2022. Jones could make almost twice as much on the open market.

7. Aleksander Barkov, Florida Panthers

Mark J. Terrill/Associated Press

Dale Tallon stepped down in August as general manager of the Florida Panthers. Of the decisions he made during his tenure, re-signing Aleksander Barkov to a six-year, $35.4 million contract extension on January 25, 2016, was his best.

Despite being plagued by injuries early in his NHL career, Barkov was establishing himself among the Panthers' top players. He was in the midst of his third NHL season when he signed his contract, finishing with 28 goals and 59 points in 66 games.

Over the past three seasons, Barkov's become arguably the league's most underrated two-way center. He tallied 78 points in 79 games in 2017-18, a career-best 96 points in 82 contests in 2018-19 and 62 points in 66 games last season. He won the Lady Byng Memorial Trophy in 2018-19 and was a finalist for the award in 2015-16 and 2017-18.

Barkov's $5.9 million annual average value is very low for a first-line center with his all-around skills. The Panthers will continue to benefit from his on-ice efforts and affordable cap hit until his contract expires at the end of the 2021-22 season.

6. Mark Scheifele, Winnipeg Jets

Nick Wass/Associated Press

The Winnipeg Jets' top pick (seventh overall) in their first NHL draft following their relocation from Atlanta in 2011, Mark Scheifele blossomed over the past decade into their franchise player and first-line center. Thanks to the foresight of general manager Kevin Cheveldayoff, they will enjoy his services through 2023-24 at a rate much less than those of comparable players.

Scheifele showed promise in his first three full NHL campaigns, from 34 points in his rookie year to 49 as a sophomore to 61 points in 71 games in 2015-16. Cheveldayoff recognized the youngster's growing talent and rewarded him with an eight-year, $49 million contract.

Since signing that contract on July 8, 2016, Scheifele's become a point-per-game player. He tallied 82 points in 79 games in 2016-17, 60 points in as many games the following season, 84 points in 82 games in 2018-19 and 73 points in 71 contests last season.

Scheifele is a core member of the Jets roster, helping them become a perennial playoff club over the past three seasons. The 27-year-old is in his playing prime and among the league's best centers. His rate of production is worth considerably more than the $6.1 million annual average value of his contract.

5. Jaccob Slavin, Carolina Hurricanes

Matt Slocum/Associated Press

Jaccob Slavin's performance as a solid all-around defenseman played a crucial role in the Carolina Hurricanes' emergence as a force in the Eastern Conference. He also has one of the most cost-effective contracts among the league's notable blueliners thanks for the prescience of former general manager Ron Francis.

Francis signed Slavin to a seven-year, $37.1 million contract extension on July 12, 2017. That deal continues to pay off handsomely for the Hurricanes as he rises up the ranks of the league's best rearguards.

Slavin netted 30 or more points in each of the past four seasons, including a career-best 36 points in 68 games in 2019-20. He would have exceeded 40 points if the schedule hadn't been derailed by the COVID-19 pandemic. The 26-year-old also led the Hurricanes in time on ice per game (23:24) and blocked shots (107) while leading the league with 81 takeaways.

Earning an annual average value of $5.3 million through 2024-25, Slavin is worth considerably more now that he's in his playing prime. However, it will be several more years before he can hope to land a pay raise worthy of his skills.

4. David Pastrnak, Boston Bruins

Mary Altaffer/Associated Press

The Boston Bruins receive excellent value from the contracts of goaltender Tuukka Rask ($7 million annual average value), center Patrice Bergeron ($6.9 million) and winger Brad Marchand ($6.1 million). David Pastrnak's $6.7 million annual cap hit, however, is the best of the bunch.

Following a breakout 34-goal, 70-point performance in 2016-17, the Bruins signed Pastrnak to a six-year, $40 million deal. The talented winger quickly proved worthy of that hefty raise, netting 35 goals and 80 points in 2017-18. Despite missing 16 games the following season, he finished with 38 goals and 81 points.

Pastrnak enjoyed a career-best effort last season. Despite a schedule shortened by the pandemic, he tallied 48 goals and 95 points in 70 games. Pastrnak was robbed of the opportunity to become the first Bruin since Cam Neely to score 50 goals. Nevertheless, he tied with Washington's Alex Ovechkin for the Maurice Richard Trophy as the season's top goal scorer.

The 24-year-old is among the NHL's elite scorers. His annual average value, however, is considerably less than those of comparable players like Ovechkin ($9.5 million) and Toronto Maple Leafs center Auston Matthews (47 goals, $11.6 million). The Bruins, meanwhile, will reap the financial benefits of his contract through 2022-23.

3. Nathan MacKinnon, Colorado Avalanche

Paul Sancya/Associated Press

Winner of the Calder Memorial Trophy following a 63-point NHL debut in 2013-14, Nathan MacKinnon struggled over the following two seasons to match his rookie output. Avalanche general manager Joe Sakic had faith in the young center, signing him to a seven-year, $44.1 million contract on July 8, 2016.

Sakic's foresight paid off for the Avalanche. After a 53-point effort in 2016-17, MacKinnon broke out the following season with a 39-goal, 97-point campaign. In 2018-19, he enjoyed a career-high 41-goal, 99-point performance.

The best, however, was yet to come. During the pandemic-shortened 2019-20 season, MacKinnon carried the injury-battered Avalanche to the second-best record in the Western Conference while scoring 35 goals and 93 points in 69 games. He also remained fourth among this season's postseason scorers (25 points) despite the Avs' second-round ouster by the Dallas Stars.

MacKinnon finished fifth in regular-season scoring and won the Lady Byng Memorial Trophy. He was also a finalist for the Hart Memorial Trophy and the Ted Lindsay Award. His $6.3 million annual average value is well below those of fellow nominees. That will work to the Avalanche's financial advantage until his contract expires at the end of the 2022-23 season.

2. Victor Hedman, Tampa Bay Lightning

Ross D. Franklin/Associated Press

The second overall pick in the 2009 NHL draft, Victor Hedman was already the Tampa Bay Lightning's best defenseman approaching the final season (2016-17) of his five-year, $20 million contract. Then-Lightning general manager Steve Yzerman wasted little time re-signing him to an eight-year, $63 million extension on July 1, 2016.

In the four years since re-signing with the Lightning, Hedman's joined the ranks of the NHL's elite defensemen. The $7.9 million annual average value was a considerable raise over the $4 million AAV of his previous deal, but it's still a steal for the Lightning.

Since 2016-17, Hedman has tallied 54-plus points four straight times. He won the James Norris Memorial Trophy as the league's top defenseman in 2017-18 and was a finalist in 2016-17, 2018-19 and 2019-20. He also won the Conn Smythe Trophy as playoff MVP during the Lightning's run to the 2020 Stanley Cup.

Comparable contracts to Hedman's are those of defensemen such as the San Jose Sharks' Erik Karlsson ($11.5 million AAV) and the Los Angeles Kings' Drew Doughty ($11 million). Thanks to former GM Yzerman's foresight, the Lightning will be enjoying that cost-effective cap hit until his contract expires in 2025.

1. Leon Draisaitl, Edmonton Oilers

Mark Humphrey/Associated Press

Eyebrows were raised when then-Oilers general manager Peter Chiarelli signed Leon Draisaitl to an eight-year, $68 million contract on August 16, 2017. Draisaitl had a 51-point sophomore season, followed in 2016-17 with a 77-point effort, but some observers felt Chiarelli invested too much.

Those concerns seemed justified when Draisaitl's production the following season slipped to 70 points in 78 games. Over the next two years, however, his $8.5 million annual average value turned into a significant bargain for the Oilers.

Draisaitl enjoyed his breakout performance in 2018-19 with 50 goals and 105 points in 82 games, finishing second among the league leaders in goals and fourth in points. His league-leading 110-point output last season saw him join Wayne Gretzky (1987) and Connor McDavid (2017) as the third player in Oilers history to win the Art Ross Trophy, the Hart Memorial Trophy and Ted Lindsay Award in a single season.

Chiarelli was fired as Oilers GM in January 2019, but his former club will receive long-term salary-cap dividends from Draisaitl's contract. The 25-year-old has emerged from the shadow of teammate McDavid as a superstar in his own right. However, he's earning considerably less than his captain's $12.5 million annual cap hit and will continue doing so over the next five seasons.

Players stats via NHL.com. Salary info via CapFriendly.