Flames Forward Has NHL's Worst Contract

Calgary Flames forward Jonathan Huberdeau is a tragic figure in the NHL today.

After scoring 115 points, including a league-leading 85 assists, and finishing in the top five for Hart Trophy voting with the Florida Panthers in 2021-22, Huberdeau became the centerpiece of the team's package for Matthew Tkachuk. That trade made the Panthers into the juggernauts they are today, as Tkachuk has helped them make three-straight Stanley Cup Finals and win two championships. Meanwhile, Huberdeau has seen his production dip dramatically and hasn't made the playoffs once as a Flame.

To make matters worse, the eight-year, $84 million contract ($10.5 million annual cap hit) he signed after the trade has become one of the worst deals in the entire league. In fact, The Athletic's Dom Luszczyszyn believes it to be the very worst, giving it a surplus value of -$32 million with a positive value probability of just 1 percent.

"At $10.5 million, the expectation for Huberdeau is a Net Rating of plus-12.6 for the 2025-26 season," Luszczyszyn wrote. "That’s 8.5 goals above what he’s projected to deliver next year. While it’s not impossible that Huberdeau can bounce back toward a high-end first-line level, it is very unlikely. Especially with Calgary, a team devoid of much capable offensive help.

"The problem isn’t just the cap hit, but also the term. There are still six years remaining on Huberdeau’s deal and while that gives him a lot of runway to mount a turnaround, the more likely scenario is that the 32-year-old’s game only degrades further. For now, Huberdeau is still a solid top-six option worth over $6 million. In Year 4 and beyond, when Huberdeau is 35 or older, however, his value is expected to take a turn for the worse."

Huberdeau's fall over the past few years has been bewildering to pretty much everyone, especially considering how well he was playing just before the trade. He at least showed some improvement last season, scoring 28 goals and 62 points in 81 games, but it's still a far cry from his peak as a Panther.

Other players near the top (bottom?) of Luszczyszyn's ranking include Columbus Blue Jackets defenseman Ivan Provorov ($8.5 million cap hit until 2032), Seattle Kraken forward Chandler Stephenson ($6.3 million until 2031), Nashville Predators defenseman Brady Skjei ($7 million until 2031) and Predators defenseman Nicholas Hague ($5.5 million until 2029).