5 worst contracts signed in Seattle Kraken franchise history feat. Philipp Grubauer

By Nestor Quixtan

Modified Jul 29, 2024 02:39 GMT

In their short history, the Seattle Kraken have made a handful of questionable contract moves. However, it’s worth pointing out that some of the players on this list arrived in Seattle via the expansion draft in 2021.

Nevertheless, the team signed these players to contract extensions despite lackluster performances. So, here is a look at the five worst contracts in Kraken history.

5 worst contracts signed in Seattle Kraken history

#5: Alex Wennberg

Wennberg arrived in the NHL as the Columbus Blue Jackets’ first-round pick in 2013. At 14th overall, there were high hopes for Wennberg. His break-out year was 2016–17, in which he tallied 59 points in 80 games. Prompted the Blue Jackets to sign him to a six-year deal worth $29.4 million.

However, things didn’t work out for Wennberg after several seasons of inconsistency.

NHL: Stanley Cup Playoffs-New York Rangers at Florida Panthers - Source: Imagn

The Blue Jackets bought out Wennberg in 2020, allowing him to sign with the Florida Panthers. Wennberg signed a one-year, $2.2 million deal, and played just one season in Florida amid lackluster totals.

So, the Kraken signed Wennberg to a head-scratching three-year, $13.5 million deal. The $4.5 million cap hit was inexplicably high for a bottom-six forward. While Wennberg did improve his totals, they were nowhere near his career highs.

The Seattle Kraken dealt Wennberg at last year’s trade deadline to the New York Rangers. While not awful, Wennberg’s contract is a questionable decision that ultimately didn’t cost the Kraken too much money or cap space.

#4: Jaden Schwartz

Schwartz, the St. Louis Blues’ first-round pick in 2010, entered the league with high expectations. He delivered, for the most part, hitting the 20-goal mark four times during his time with the Blues.

Schwartz was a valuable member of the club’s 2019 Cup run, chipping in 22 goals and 57 points during the regular season.

NHL: Seattle Kraken at St. Louis Blues - Source: Imagn

By 2021, Schwartz was a free agent. The Seattle Kraken, looking to add veteran leadership and scoring, signed him to a five-year, $27.5 million deal. The deal was considered an overpayment for a player who was trending downward.

Indeed, Schwartz’s first season with the Seattle Kraken was cut short by injuries. He managed 23 points in 37 games. The following year, they played in 71 games, totaling 40 points. Last season, injuries kept him to 62 games and 30 points.

Overall, Schwartz’s $5.5 million cap hit is a massive overpay, especially for a player who seems to be hitting the tail-end of his career.

#3: Jamie Oleksiak

Oleksiak was the Dallas Stars’ first-round pick in the 2011 draft. Despite his high pedigree, he could not establish himself as a full-time NHL defenseman in Dallas. So, the Stars moved Oleksiak to the Pittsburgh Penguins.

The following season, the Pens traded Oleksiak back to the Stars. After two reasonably solid seasons, Oleksiak hit free agency, prompting the Seattle Kraken to pick him in the expansion draft. As a pending free agent, the Kraken signed him to a five-year, $23 million deal.

NHL: Seattle Kraken at Anaheim Ducks - Source: Imagn

The $4.6 million cap hit was rather high for a blueliner not considered to be a top-four, minute-munching defender. Plus, Oleksiak’s little offensive upside made the deal even more eyebrow-raising.

It’s worth noting that Oleksiak has established himself as one of Kraken’s top-four defensemen. However, his cap hit is still high for a solid defenseman.

#2: Adam Larsson

Adam Larsson was the fourth-overall pick in the 2011 draft. The New Jersey Devils selected Larsson, hoping he could become a true number-one defenseman in the NHL. However, a combination of injuries and inconsistency limited Larsson’s development in New Jersey.

So, the Devils famously moved Larsson in a one-for-one swap with the Edmonton Oilers for Taylor Hall.

Larsson’s tenure in Edmonton was filled with controversy due to his poor defensive play. In particular, in the 2018-19 season, Larsson was a minus-28, leading fans and analysts to call for the Oilers to trade Larsson.

NHL: San Jose Sharks at Seattle Kraken - Source: Imagn

Ultimately, the Oilers left Larsson unprotected in the expansion draft. The Kraken took a chance on Larsson and selected him. The Kraken signed Larsson to a four-year, $16 million deal in 2021. The deal was suspiciously high for a first-round bust.

The $4 million cap hit insurance rather high for a bottom-pairing defenseman. The good news for the Kraken is that this upcoming season will be Larsson’s final year. It remains unclear whether the Seattle Kraken plans to re-sign Larsson.

#1: Philipp Grubauer

Grubauer had established himself as a true number-one goalie with the Colorado Avalanche. Grubauer was a Vezina Trophy finalist after posting a 1.95 GAA and .922 SV% in 40 games with the Avs in 2020-21.

Those numbers prompted the Kraken to scoop up the best free-agent goalie on the market during the 2021 offseason. The Kraken signed Grubauer to a six-year, $35.4 million cap hit.

NHL: Seattle Kraken at Winnipeg Jets - Source: Imagn

Initially, the deal was met with applause from fans and analysts, given Grubauer’s track record. However, the deal has soured since.

Grubauer had an awful first season in Seattle, posting a 3.16 GAA and an .889 SV%. Since then, he has not played and made more than 36 starts per season, posting pedestrian numbers.