Tom Fitzgerald got the top job as general manager of the New Jersey Devils in the summer of 2020. The league was figuring some things out during the height of the coronavirus pandemic, and the Devils had roster questions they needed quick answers for. One of the first moves Fitzgerald made was moving on from the team’s starting goalie.
Cory Schneider was making $6 million per season, but hip injuries basically ruined him at the NHL level. So, Fitzgerald informed Schneider that he would be bought out of the final two years of his deal. The Schneider buyout took his $6 million cap hit for two seasons and made it a $2 million cap hit for four seasons.
New Jersey Devils fans are not happy with how their starting goalie is playing… again. That starting goalie just happens to have two years left on his deal, paying him an average of $6 million per season. Feels like we’ve been here before.
There’s a big difference between where Cory Schneider was and where Jacob Markstrom is. For one, Markstrom’s contract hasn’t started yet. He signed an extension a few weeks ago, but his on-ice play hasn’t been good enough to warrant it this season.
The conversation of a buyout started on Saturday night after another poor effort early for Markstrom. He allowed four goals in the first 30 minutes of the game. He did make a complete turnaround, stopping some big shots in the third period, but it still wasn't the effort the Devils want, and they lost their first home game in regulation. The Flyers won the game 5-3 after an empty-net goal.
Markstrom has had some terrible performances this season. Saturday wasn’t terrible, but four goals against is not what the team wants from a $6 million goalie.
The Devils expect to be in the Stanley Cup contention window. That’s why they gave Markstrom this contract and gave up a first-round pick and a promising young defenseman in Kevin Bahl to acquire him from the Calgary Flames.
However, if it’s not working, the Devils can’t just keep going as if everything is fine. They need to pivot and get better at the position. Jake Allen is a great backup. The Devils need to make sure they have a great starter, too. Their young goalies are not ready, unless they want to give Nico Daws a shot. Both Mikhail Yegorov and Jakub Malek are far away.
According to our friends at PuckPedia, the Devils currently have $11 million in cap space next season. Most of that is probably taken up, with Arseny Gritsyuk, Paul Cotter, and Simon Nemec all needing new contracts.
So, many are calling for the Devils to buy out the Markstrom contract before it starts. Unfortunately, PuckPedia reports that’s not allowed. The Devils either have to trade Markstrom, possibly with draft pick compensation attached, or they can bury him in the NHL for a small relief on their cap responsibilities.
It’s probably not what Devils fans want to see. While they don’t want Markstrom to be so bad he’s bought out, losing the option entirely hurts even more. The hope is that Markstrom can bounce back from a rough start and be the starting goalie they wanted from the start.