Why Goalies Remain Undervalued: Analyzing NHL Salary Cap Trends

Will the efforts by Swayman and Shesterkin finally break the mold?

For years, goalies have been underpaid. This is not to say the best in the NHL don’t earn a healthy living. But, when compared to other players in the NHL — forwards and defensemen — the percentage of the salary cap that goaltenders take isn’t even close.

Considering how important the right goalie can be to a team, and that without them, franchises don’t go far, why is underpaying a trend that has become so commonplace?

Looking at the Top Paid Goalies

Like any argument, there are a few exceptions to the rule. Sergei Bobrovsky makes $10 million, Andrei Vasilevskiy makes $9.5 million, Connor Hellebuyck makes $8.5 million and Ilya Sorokin makes $8.25 million. They are the cream of the crop in terms of goalie salaries. Before them, the measuring stick was Carey Price at $10.5 million.

But, when you consider the salary cap ceiling is $88 million, Bobrovsky takes the lead as a netminder who makes just over 11% of the cap. He’s arguably the only one from the group getting what he should be.

Meanwhile, 10 skaters rank above him in terms of annual average salary: Nathan MacKinnon, Connor McDavid, Artemi Panarin, Auston Matthews, Erik Karlsson, David Pastrnak, John Tavares, Drew Doughty, Mitch Marner, and Jonathan Huberdeau.

Of that list, how many of the teams who pay them couldn’t wait to get those contracts signed? Few clubs, if any, put up a fight. And, on that list, you can count off how many of these players are viewed as currently overpaid.

Yet, for some reason, goaltenders have to battle to get their money. Bobrovsky was on the receiving end of some good timing, but Hellebuyck tried to hold out and had to settle. He was, and is, among the best netminders in the game. At least half the league would take him today at his salary if available. Not in the upper ranks is Juuse Saros, who had to fight for his $7.7 million.

Why Has It Been Such a Battle?

The NHL, for years, has fought against the idea of paying what netminders believe they’re worth. While the AAVs for forwards and defensemen keep going up, and NHL teams tend to measure new deals based on a percentage of the cap, franchises keep goalies at a specific number.

No one seems to want to pay more than $10 million, and if it’s at all possible, ‘get it done for $8.5’ they probably say behind closed doors.

Why?

The answer isn’t black and white, but there might be reasons.