The NHL's worst value contracts of 2025-26 are a fascinating yet concerning bunch, revealing the fine line between underperforming players and those who are simply overpaid. These deals, where the cost per point is sky-high, often indicate a team's struggle to find value in their roster. Let's dive into the top ten forwards whose points came at the highest price last season, and explore the implications of these costly contracts.
1. Brandon Tanev: A Drop in the Bucket
Brandon Tanev's journey from a ten-goal scorer to a goalless forward in just one year is alarming. Tanev's three assists in 56 games at a $2.5MM cap hit translated to an astonishing $833K per point. This is the worst rate in the league by a significant margin. Tanev's three-point campaign in 2025-26 is a stark contrast to his previous season, raising questions about his ability to consistently contribute offensively. The Utah Mammoth signed him expecting energy and penalty-killing, but the physicality didn't translate into points. With two years remaining at $2.5MM, the Mammoth now faces the challenge of finding a suitable role for Tanev, who has never made a career off offensive production.
2. Garnet Hathaway: A Missed Opportunity
Garnet Hathaway's game has never been about scoring, but his three points in 66 games at a $2.4MM cap hit still came at a staggering $800K per point. Hathaway's production took a significant hit from the previous season, when he tallied ten goals and 21 points. The Flyers traded him to Florida while retaining half his deal, effectively making his final year in Philadelphia worth around $1.2MM. Hathaway's lackluster regular season was all but forgotten when he stepped up in the playoffs, but the question remains: can he consistently deliver at this rate?
3. Maxim Tsyplakov: A Journeyman's Struggles
Maxim Tsyplakov's journey from Long Island to New Jersey to Calgary in six months is a testament to the fluidity of the NHL. Tsyplakov managed four points in 49 games, about $563K per point on his $2.25MM hit. The production ability is there, as he was a 30-goal scorer for Spartak Moskva in the KHL. However, the Flames, who finished dead last in the NHL in goals for during 2025-26, are hoping that a fresh start will re-ignite some offensive production. With a $2.25MM cap hit, the Flames are left to wonder if Tsyplakov can live up to his potential.
4. Trent Frederic: A Long Road to Recovery
Trent Frederic's seven points in 74 games in his first full season in Edmonton came at a $3.85MM cap hit, while he never quite looked recovered from a high-ankle sprain. The Oilers gave him an eight-year, $30.8MM extension last summer, and he will look to find the game that made him a former 40-point scorer in Boston. With seven years left on the deal, the Oilers are hoping that Frederic can find his form and provide the added depth scoring they have struggled with in recent seasons.
5. Jesperi Kotkaniemi: A Stanley Cup Champion on the Sidelines
Jesperi Kotkaniemi's season is a strange one, as he didn't play a single second of Carolina's championship run. Scratched frequently through a nine-point, 42-game regular season at a $4.82MM cap hit, he then sat for all 19 playoff games. Four years remain on his contract, and the debate over whether to buy him out or trade him has hung over him all summer. Kotkaniemi's name has been attached to trade rumors, with some speculation that Carolina wants to attach him to any deal in hopes of unloading his contract.
6. Frank Vatrano: A Fractured Shoulder and a Slipping Role
Frank Vatrano's offense collapsed to nine points in 50 games at a $4.57MM cap hit, though he has a better excuse than most: a fractured shoulder in late December cost him 22 games. Anaheim's emerging young forwards squeezed his role even when healthy, and with the team in a bit of a cap crunch, Vatrano's name has been in the mix along with Alex Killorn and Chris Kreider. Two years remain on the deal, and the future of Vatrano's role in Anaheim is uncertain.
7. Ryan Reaves: An Expiring Contract and a Public Request
Ryan Reaves, the list's elder enforcer, is the lone expiring contract. Reaves gave San Jose three goals and nothing else across 50 games at 39 years old, playing under eight minutes a night for $450K per point on a $1.35MM hit. With his contract now up, Reaves is an unsigned free agent who has said publicly he'd like to finish his career as a Shark. San Jose currently has $12MM in cap space with 13 forwards signed, and it will be interesting to see if GM Mike Grier looks to bring Reaves back.
8. Jonathan Huberdeau: A Chronic Hip Problem and a No-Movement Clause
Jonathan Huberdeau's 25 points in 50 games came at $420K apiece on his $10.5MM cap hit, but the context matters: he played the entire season through a chronic hip problem, was shut down at the Olympic break, and underwent hip resurfacing surgery in March. Calgary still owes him five more years at $10.5MM with a no-movement clause, making his recovery the most consequential rehab of the Flames' offseason. Before the 2025-26 season, Huberdeau's production has been steady during his time in Calgary, but the Flames have long hoped to find the former 115-point scorer they acquired in the Matthew Tkachuk trade during the 2022 offseason.
9. Ondrej Palat: A Trade and a Declining Production
Ondrej Palat's season is permanently linked to the trade that sent Maxim Tsyplakov to the Islanders. Between the two stops, he managed 15 points in 80 games, about $400K per point at a $6MM hit. One year remains on the deal he signed off back-to-back Cups in Tampa, a contract that never even produced a 40-point season. The Islanders are now left to wonder if Palat can find his form and provide the depth scoring they need.
10. Phillip Danault: A Goalless Start and a Stabilizing End
Phillip Danault's goalless start in Los Angeles was followed by a reported messy December, which sent him back to Montreal. He finished with 17 points in 75 combined games, around $324K per point on his $5.5MM hit. The Canadiens have him for one more season before the deal expires in 2027, and they are hopeful that Danault can find another gear in 2026 and provide depth production in the 40-point range that the 32-year-old center has for much of his career.
In conclusion, these ten forwards represent the NHL's worst value contracts of 2025-26, and the implications are far-reaching. From underperforming players to those who are simply overpaid, these deals highlight the challenges teams face in finding value in their rosters. As the NHL season progresses, the question remains: can these players turn things around and provide the value their teams are paying for?
