Should the New Jersey Devils be looking to part ways with goaltender Cory Schneider?
Back in 2013, the New Jersey Devils needed to find a replacement for goaltender Martin Brodeur. Filling the shoes of an all-time great is never easy. The Devils traded a first-round pick (which became Bo Horvat) for Vancouver Canucks goaltender Cory Schneider because they believed he could be that guy. For a while, he was a respectable replacement. But Schneider’s struggles mean the Devils might be better off parting ways with him.
In 2014, New Jersey signed him to a seven-year extension worth $42 million, or $6 million per year. Schneider was 28 at the time, so the Devils believed they could still get some of Schneider’s best years. The Devils only managed to get two of them since that extension, as he’s been in decline ever since the 2015-16 season. Schneider’s save percentage has declined each year since then.
- 2015-16: .924
- 2016-17: .908
- 2017-18: .907
- 2018-19: .852
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He hasn’t gotten a regular season win in over a year, as his last win came on Dec. 27, 2017. Schneider did, however, pick up the Devils’ only win during the 2017-18 Stanley Cup Playoffs. The Devils have three options.
Keep Him
Despite his struggles, keeping Schneider might be the best move for the time being. Fellow goaltender Keith Kinkaid will be an unrestricted free agent after this season and his return isn’t certain. Even if the Devils make the right move and let MacKenzie Blackwood have a full-time spot on the roster for the 2019-20 season, they’ll need a backup goalie.
Looking at the 2019 free agent market, there aren’t many options available in net. Cam Talbot, Mikko Koskinen, and Jimmy Howard are likely the best two options, assuming they don’t want Sergei Bobrovsky or Semyon Varlamov.
Once you factor in the cost of getting rid of Schneider (we’ll get to this in just a minute), keeping him is the least expensive and least risky move. Especially if the Devils want someone experienced behind Blackwood. Unless Schneider’s salary or cap hit prohibits New Jersey from addressing their concerns, maybe hanging onto him for one more year is the right move.
Buy Out
A buyout would allow the Devils to part ways with Schneider for a lesser price. Here’s what a buyout would cost.
2019-20 $2,000,000 (savings of $4 million)
2020-21 $2,000,000 (savings of $4 million)
2021-22 $2,000,000 (savings of $4 million)
2022-23 $2,000,000
2023-24 $2,000,000
2024-25 $2,000,000
The Devils wouldn’t get any kind of savings in 2022-23 through 2024-25. On paper, New Jersey would save money by buying out Schneider. However, with any buyout, they’d have to consider what it would take to replace him and factor that into the cost as well.
Trade
A trade would be optimal for the Devils financially, especially if they could find a way to not retain any money. However, in order for that to happen, they’d almost indefinitely have to take on another bad deal.
For example, let’s say the Oilers lose both Talbot and Koskinen. Something involving Milan Lucic and Schneider could make some sense. While both teams would still have awful contracts, at least they would be in areas of need.
The larger concern with trading Schneider is the Devils could have to part with other assets in order to get rid of his contract. It’s not going to be a desirable contract by any means. Who would want an aging goalie who’s clearly in decline and costs $6 million a year? The Devils could increase interest in him, though, by retaining some salary. Schneider would be far reasonable at, say, $3 million a year than $6 million.
The best time for the Devils to move on from Schneider is this summer. It’ll be interesting to see what they do with him, given their future in goal.