Dust Settles on Free Agency: Winners and Losers

Well, it's that time of year again. The time of year where absurd contracts clutter the Twitter feeds and where average players pull in superstar dollars, especially in this year's weak market. The 2011 free agent market was more of a slender one, with Brad Richards headlining and a significant drop-off thereafter. But teams lined up to snag pieces they felt could help their squads. Without further ado, the biggest winners and losers of the 2011 free agent frenzy:

BIGGEST WINNERS


1. The Washington Capitals 


Capitals GM George McPhee pulled some strings this year in improving Washington after another playoff flame-out in the second round. McPhee moved goaltender Semyon Varlamov to Colorado for a first- and second-round pick, which is mind-boggling because Colorado could have submitted an offer sheet for Varlamov and probably pried him away for a second-round pick. Puzzling indeed. Then, McPhee added Tomas Vokoun to stabilize the crease, who, despite being 35, is an excellent pick-up for Washington at only $1.5 million.

They then filled some minor holes throughout their roster and added depth, something an NHL team can never have enough of. Roman Hamrlik is a nice addition to Washington's blue line where his hard shot can be an asset on the power play. Washington then acquired Troy Brouwer from Chicago for a 1st round pick (who just agreed on a two-year, $2.35 milion per deal),  which was expendable because of the Varlamov trade (the Colorado pick could very well end up being a lottery pick). With Brouwer the Capitals get a gritty winger who won a Stanley Cup in Chicago last spring. The Caps are hoping to avoid another playoff disappointment and went along way to doing so over the past week.

2. The Florida Panthers


When you think about it logically, the Florida Panthers essentially did this over the course of free agency: added a bunch of high-priced, over-paid hockey players that most rational NHL teams would refuse to do. The problem is, however, is that Florida had no choice. Florida added Ed Jovanovski (4 years/$16.25 million total), Sean Bergenheim (4 years/$11 million), Tomas Fleischmann (4 years/$18 million), Tomas Kopecky (4 years/$12 million and Scottie Upshall (4 years/$18 million). The Panthers then traded for Brian Campbell, who despite his exorbitant salary (5 years remaining on his contract at $7.14 million) and Kris Versteeg (1 years left at $3.083 million).

Even if they had to overpay, it's worth it. Florida haven't made the playoffs in a decade and have slipped into anonymity. If anything, the acquisitions give Florida credibility in a division they haven't competed in for years, even when it was considered the "Southleast" division a few years back. With all the roster turnover, Florida may struggle out of the gate. But the moves that new GM Dave Tallon has made will go a long way into helping Florida regain some respect in the Eastern Conference.

3. Anybody with UFA next to their name.

Ville Leino cashed in with a massive deal.

Free agency always leads to absurd contracts, and this year was no different. Seemingly anyone (not named Tomas Vokoun) could pull in some serious coin, so long as they were an unrestricted free agent. Tomas Fleischmann, who had 12 goals in 45 games between Colorado and Washington last year, will earn $4.5 million next year. Other guys who make $4.5 million or less? Matt Moulson (31 goals in 82 games last season), Patrick Sharp (34 goals in 74 games), and Joe Pavelski (66 points in 74 games). As we see every summer, teams open their wallets aggressively and in many cases it comes back to bite them.

But players will more than happily cash in, with studs like Christian Erhoff earning a $40 million contract despite putting together just one 50-point season or Ville Leino cashing in on a $27 million contract after putting up a career-high 19 goals last year. $4.5 million per year sounds a bit pricey for a player with 30 career NHL goals in just 149 games. You can't blame the players for cashing in one bit, as many will take their first massive paycheck to the bank, even if many of them didn't deserve it.

BIGGEST LOSERS


1. Tomas Vokoun


Vokoun is widely agreed upon as one of the top tier goaltenders in the NHL and he's proven this over the course of a stellar personal career between Montreal, Nashville, and Florida. Despite being on wretched teams, Vokoun's career save percentage sits at .917 heading into 2011-2012 season, spectacular numbers by any account. But Vokoun didn't enjoy a lucrative payday the way so many other free agents did on July 1st.

After Philadelphia snapped up Ilya Bryzgalov and Colorado filled it's goaltending needs with Varlamon  and J.S. Giguere, the market thinned out for Vokoun. Competing against themselves more or less, the Capitals signed Vokoun to a one-year, $1.5 million deal. Vokoun will stabilize the Washington crease. Unfortunately for Vokoun he didn't get the giant paycheck he deserved, though he may be much happier with the situation. I mean, money isn't everything, right?

2. The Owners

Vokoun (L) missed out on a payday while Connoly (R) cashed in)

Here we go again. For the same reason the 2004-2005 NHL season was lost, the 2012-2013 season may be in peril already. Owners frivolously tossing about money will create huge issues when the Collective Bargaining Agreement needs to be adjusted next year. The salary cap is inflated again, players are getting foolish contracts, and the spending is again out of control.

This will all come back around during the next CBA when owners cry bankruptcy, but the reality is this is going to be hard to accept. How can owners have a leg to stand on when over $400 million was thrown about on July 1st? The reality is, when a steadily rising cap and obnoxious contracts come together, it's going to be hard for the owners to declare a lockout next year. But sadly, we may just be heading in that direction.

3. Toronto Maple Leafs


The Leafs missed out on their big prize--Brad Richards--after he signed a massive deal with the Rangers. After, the Leafs did what Brian Burke has become so adept at doing--they messed up. They handed Tim Connolly, apparently their second choice to Richards, a 2-year/$9.5 million contract. Connolly will be making almost $5 million per over the next two seasons, which is ludicrous. Connolly had 42 points last year in 68 games, which is his second highest games-played total since the lockout. In fact, since the lockout, Connolly has averaged 50 games per season, something Toronto didn't exactly need for big money.

And forget being injured-riddled; Connolly hasn't even really produced. He's never had 20 goals and has once eclipsed 40 assists (48 in 2009-2010). And yet Toronto wanted to pay him big money to come. He may be a good fit, but after missing out on Richards it was evident Toronto's "Plan B" was a little in disarray. But hey, it's been a while since the Jeff Finger signing and we all needed to be reminded that Toronto is capable of making horrible decisions.