In terms of mismanagement by hockey executives, the NHL hasn’t had many recent days worse than July 1, 2016.
The latest reminder came from the New York Islanders after winger Andrew Ladd cleared waivers on Friday. GM Lou Lamoriello, who did not sign the Ladd contract, explained that the team had maximized the amount of time it could leave him in the AHL on a conditioning stint (for a knee injury) and that although Ladd was cleared to play, he simply wasn’t ready for major-league action.
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Ladd, who turns 34 in December, is not quite at the halfway mark of the seven-year contract he signed in 2016. His no-trade clause opens up a bit next year, becoming a 15-team no-trade list, but the nature of his contract should make that irrelevant. Age, injury and declining production have made him a poor return for his $5.5-million annual cap hit, and because of his contract structure, a buyout would remove
just six percent of his cap hit, leaving his team stuck with the remaining 94 percent.
The amazing thing is that the Ladd contract is not exceptional. He is but one member of a UFA class in 2016 characterized by age, injury, declining performance and above all overpayment.
The names are infamous: Ladd. Milan Lucic. Kyle Okposo. Loui Eriksson. Frans Nielsen. David Backes. Troy Brouwer. Matt Martin. Dale Weise. David Schlemko. James Reimer. Eleven players signed for four years or longer whose contracts have all since become liabilities to the teams that signed them.