The NHL's worst value contracts of 2025-26 are a fascinating and somewhat concerning look at the league's current state. These deals, where players' points come at a high cost, highlight the challenges teams face in managing their rosters and cap situations. Let's dive into the top ten forwards whose points came at the highest price last season, and explore the implications of these deals for both the players and their teams.
The Costly Point Producers
Brandon Tanev ($833K per point): Tanev's goalless season in Utah was a stark contrast to his previous year's 22-point campaign. The Mammoth signed him for energy and penalty killing, but his offense vanished, and he became a healthy scratch. Tanev's three-point season is an alarming drop-off, and with two years remaining at $2.5MM, his team is left wondering if they can find a new role for him.
Garnet Hathaway ($800K per point): Hathaway's game has never been about scoring, but his three points in 66 games stretched even that job description. The Flyers traded him to Florida while retaining half his deal, so the Panthers get his final year at an effective $1.2MM. Hathaway's production took a huge hit from the year prior, and his lackluster regular season was all but forgotten when he stepped up in the playoffs.
Maxim Tsyplakov ($563K per point): Tsyplakov's journey across three organizations in six months is a testament to the fluidity of the NHL. The Flames, who finished dead last in goals for during 2025-26, are hoping that a fresh start will re-ignite some offensive production. His production ability is there; Tsyplakov was a 30-goal scorer for Spartak Moskva in the KHL before coming to North America.
Trent Frederic ($550K per point): The scariest entry here isn't the rate, it's the runway. Frederic produced seven points in 74 games in his first full season in Edmonton on a $3.85MM hit, while never quite looking recovered from a high-ankle sprain. The Oilers gave him an eight-year, $30.8MM extension last summer, and with seven years left, this is the longest remaining commitment on the list.
Jesperi Kotkaniemi ($536K per point): Kotkaniemi's season is permanently linked to the No. 3 entry on this list: New Jersey shipped him to the Islanders in January in the trade that sent Tsyplakov the other way. He was scratched frequently through a nine-point, 42-game regular season, and then sat for all 19 playoff games as the Hurricanes won it all. Four years remain, and the buyout-versus-trade debate has hung over him all summer.
Frank Vatrano ($508K per point): Vatrano's offense collapsed to nine points in 50 games, but he has a better excuse than most: a fractured shoulder in late December cost him 22 games, and Anaheim's emerging young forwards squeezed his role even when healthy. With two years remaining on the deal, Vatrano's name has been in the mix along with Alex Killorn and Chris Kreider.
Ryan Reaves ($450K per point): The list's elder enforcer and its lone expiring contract. Reaves gave San Jose three goals and nothing else across 50 games at 39 years old, playing under eight minutes a night for $450K per point on a $1.35MM hit. That deal is now up, and he's an unsigned free agent who has said publicly he'd like to finish his career as a Shark.
Jonathan Huberdeau ($420K per point): Huberdeau's 25 points in 50 games came at $420K apiece on his $10.5MM cap hit, but the context matters: he played the entire season through a chronic hip problem, was shut down at the Olympic break, and underwent hip resurfacing surgery in March. Calgary still owes him five more years at $10.5MM with a no-movement clause.
Ondrej Palat ($400K per point): Palat's season is permanently linked to the No. 3 entry on this list: New Jersey shipped him to the Islanders in January in the trade that sent Tsyplakov the other way. Between the two stops, he managed 15 points in 80 games, about $400K per point at a $6MM hit. One year remains on the deal he signed off back-to-back Cups in Tampa.
Phillip Danault ($324K per point): The cheapest bad value in hockey, if that’s a title. Danault went goalless through 30 games in Los Angeles before a reportedly messy December with LA sent him back to Montreal, where his game stabilized somewhat; he finished with 17 points in 75 combined games, around $324K per point on his $5.5MM hit. The Canadiens have him for one more season before the deal expires in 2027.
Implications and Insights
These deals raise a deeper question: how do teams balance the need for depth scoring with the cost of acquiring and retaining players? The NHL's salary cap system adds a layer of complexity, as teams must navigate the fine line between investing in talent and staying within their budget. The cost per point for these forwards is a stark reminder of the challenges teams face in managing their rosters and cap situations.
In my opinion, the NHL's worst value contracts of 2025-26 are a fascinating and somewhat concerning look at the league's current state. These deals highlight the challenges teams face in managing their rosters and cap situations, and they raise important questions about the balance between investing in talent and staying within budget. As the NHL continues to evolve, these contracts will be a key factor in shaping the league's future.
