Following the news on Friday that the Vancouver Canucks have bought Oliver Ekman-Larson for a whopping $17 million ($19.5 of which will go to the defender in real cash), he instantly jumped into the top 10 of the leaderboard when it comes to longest and most expensive purchases. in NHL history.
It’s a process that saves the team immediate money, but also tends to severely hurt their long-term financial options. NHL franchises typically use acquisitions as a strategic tool to alleviate the burdens of the salary cap or to part ways with underperforming or otherwise undesirable players. Teams use this tool every so often, whether to wean these individuals off of long-term contracts, get an exemption from the salary cap, try to compensate for bad signings, or as part of a compliance buy-out. Friday’s deal for Eckman-Larson could be the first of many this summer.
Related: Why the Ekman-Larsson Acquisition Helps the Canucks and Hurts the Coyotes
It is important to note that a buyout has financial implications for teams, and while the exact terms and costs of a buyout depend on the structure of a player’s contract, the timing of a buyout can be important. Some teams are still paying a heavy price for the decisions they made, while others will face challenges in the years ahead.
Generally, NHL teams use acquisition as a way to manage their salary cap, improve their roster, and make strategic adjustments to their player contracts, but it’s not always the best move. Here are the 10 most important buys in NHL history, many of which, if the team can come back and rethink its strategy, it could be.
No. 10: Christian Ehrhoff (Buffalo Sabers)
Purchased on June 29, 2014, this acquisition of the Sabers is valued at $12 million and ranks near the top for length in 14 seasons. Ehrhoff still has seven years left on his deal, maxing out at $4 million a season. The contract was worth $40 million in all and everyone knew he overpaid massively.
The acquisition occurred after Ehrhoff completed only three years of his ten-year contract, which he had signed with the Sabers in 2011.
Ehrhoff later became an unrestricted free agent after the acquisition and signed a one-year contract with the Pittsburgh Penguins for the 2014-15 season. He went on to have a productive season with the Penguins, contributing offensively from the blue line. He moved in the 2015/16 season, played in Los Angeles and Chicago, but went abroad to play in Germany and never returned.
No. 9: Alexander Semin (Hurricanes)
Alexander Semin was acquired by the Carolina Hurricanes in 2015. His contract remains for five years, at a total cost of $14 million. The acquisition cap was $7 million but cost the Hurricanes $2.33 million in actual cap through the 2020-21 season.
The decision to buy Semin’s contract came after several disappointing seasons with the team and a decline in his performance on the ice. He signed a five-year, $35 million contract extension with the Hurricanes in 2013, which carried an annual salary cap of $7 million. However, his production and commitment to the team did not meet expectations, which led to the decision to buy him.
After the acquisition, Semin became an unrestricted free agent and signed a one-year contract with the Montreal Canadiens for the 2015-16 season. However, his performance continued to decline, and he left the NHL.
no. 8: Mikhail Grabovsky (Maple Leafs)
Mikhail Grabovski, a Belarusian center, was purchased by the Toronto Maple Leafs in July 2013. The decision to purchase Grabovski’s contract came after the team determined that his performance and salary were not in line with their long-term plans.
Grabovski signed a five-year, $27.5 million contract extension with the Maple Leafs in 2012. The takeover of Grabovski’s contract meant that Toronto must pay him two-thirds of the remaining value of his contract over eight years. The acquisition created a Maple Leafs cap of $1.833 million per season from 2013-14 through 2020-21.
After the acquisition, he signed with the Washington Capitals for the 2013-14 season. He actually became a rather productive player for them
No. 7: Kyle Torres (Predators)
Purchased by the Predators in 2020, Turris has a buyout value of $16 million and the team is net worth $2 million through the end of the 2027/28 season. Torres has effectively played his way out of the NHL, never living up to the speculation that came with being a high pick.
He spent some time with the Edmonton Oilers before leaving the NHL.
No. 6: Oliver Ekman-Larson (Canucks)
The Canucks are paying Ekman-Larsson $19.5 million to go away. They tried to trade him but no team was interested in helping the Canucks. The team will cost $2.16 million for the next eight years and will reach $4.7 million in the 2025/26 and 2026-27 seasons.
What’s interesting about the Ekman-Larson contract purchase is that it also takes the salary retention period away from the Arizona Coyotes. It’s an interesting cyclical change that could affect Arizona more than it actually affects the Canucks.
No. 5: Alexei Yashin (Islanders)
Alexei Yashin, a Russian center, was purchased by the New York Islanders in June 2007. The decision to purchase Yashin’s contract came after a turbulent period with the team and his declining on-ice production.
Yashin had signed a massive 10-year, $87.5 million contract with the Islanders in 2001. However, his performance did not live up to expectations, and his contract became a burden on the team. The takeover was a mutual agreement between Yashin and the Islanders to terminate the remaining years of his contract.
The Islanders were liable to pay two-thirds of the remaining value of his contract over twice the remaining term, spread over an eight-year period. The acquisition created a salary cap for the Islanders of US$2.204 million per season from 2007-08 through 2014-15.
He immediately took his talents to the Kontinental Hockey League (KHL) in Russia.
No. 4: Brad Richards (Rangers)
Brad Richards was purchased by the New York Rangers in June 2014, just a few years after the team won a massive free agency bidding war. It was a massive spectacle as the Rangers squeezed the entire field, only to realize it was a huge mistake just two seasons later. The decision to buy Richards’ contract came after a decline in his performance.
Richards had signed a nine-year, $60 million contract extension with the Rangers in 2011. The acquisition was a mutual agreement between Richards and the Rangers for their release. The acquisition created a salary cap for the Rangers at approximately $1.5 million per season from 2014-15 through 2025-26.
After the acquisition, he signed a one-year contract with the Chicago Blackhawks for the 2014-15 season and ended up winning the Stanley Cup with this list.
no. 3: Ilya Brizgalov (publications)
Ilya Brizgalov was purchased by the Philadelphia Flyers in 2013, after signing a nine-year, $51 million contract. Bryzgalov’s tenure with the Flyers did not go as expected and it turned out to be among the worst signings of that era in the NHL. The team bought out the remaining seven years of their deal, at a cost of $23 million.
The decision to purchase Bryzgalov’s contract came after a turbulent period with the team and concerns about his performance and validity within the organisation. At the time, he was one of the highest paid goaltenders in the NHL, but his inconsistent play and off-ice comments raised questions about his ability to stay long-term with the team.
A 14-year acquisition, the move created a salary cap of about $1.643 million per season from 2013-14 through 2026-27. He went on to sign with the Edmonton Oilers where he was also inconsistent and proved to be among the strangest players in the league.
No. 2: Rick DiPietro (The Islanders)
The New York Islanders bought Rick DiPietro in 2013 after he signed a 15-year, $67.5 million contract with the Islanders but was plagued by injuries and inconsistency. The team bought out the remaining eight years of their $24 million deal. That was 10 years ago and the team will pay $1.5 million per season for another five years.
After the acquisition, DiPietro became an unrestricted free agent and did not sign with another NHL team. He played briefly in the American Hockey League (AHL) before retiring from professional hockey in 2013. His contract would go down as one of the biggest blunders by any GM in modern NHL history.
No. 1: Vincent Lecavalier (Lightning)
Vincent Lecavalier was acquired by the Tampa Bay Lightning in 2013. Lecavalier had a long and successful career with the Lightning but with seven years left on his contract, Tampa chose to move on. The acquisition came at a cost of $32.67 million.
The acquisition created a salary cap of $1.76 million per season from 2013-14 through 2026-27. He became an unrestricted free agent and signed a multi-year contract with the Philadelphia Flyers for the 2013-14 season. He spent a few more seasons in the NHL before retiring in 2016.
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