The five best value signings from the NHL’s 2023 UFA class

Credit: James Guillory-USA TODAY Sports

Ever picked up a $20 bill off the ground? It’s a great feeling. Not so much for the other party, of course. But hey, you’ve got $20.

That’s probably how NHL GMs feel when someone they signed for spare change over the summer becomes a valuable contributor. The best teams are the ones that find value at smaller price points. For example, Michael Amadio had an excellent playoff run for Vegas, scoring 10 points in 16 games, and he only cost the team $762,500.

Whether it be backup goaltenders with starter-like numbers, or depth pieces finding ways to step up, here’s a look at five signings from the 2023 free agency period that have played well above their value this NHL season:

Alex Lyon, G (Detroit Red Wings)

Contract: Two years, $900,000 AAV

The whole “goaltenders are voodoo” thing rings especially true when discussing Lyon. Out of nowhere, Lyon emerged as a late-season starter for the Florida Panthers last year, putting up some incredible performances to lead the team to the postseason. He struggled in the first round and was replaced by Sergei Bobrovsky, but the Panthers wouldn’t have been where they were without Lyon’s play.

It could have easily been chalked up to a 30-year-old coming in with nothing to lose, playing the best hockey of his career. Lyon bounced around the NHL and AHL for the previous several seasons and never made it stick. But Lyon joined the Red Wings to give the team some goaltending depth, and it has paid off, with Lyon sitting sixth in the NHL with a 5-on-5 goals saved above average of 10.49. For reference, Ville Husso and trade candidate James Reimer are outside the top 60.

Even a little regression is fine, given Lyon’s deal is more what you expect to see from a third-stringer who spends most of the season mentoring a buck in the AHL. What a great find for a Red Wings team still clinging onto its playoff hopes – largely due to Lyon’s play.

James van Riemsdyk, LW (Boston Bruins)

Contract: One year, $1 million AAV

JVR was the exact piece the Bruins needed to bulk up their scoring depth. The 6-foot-3 power forward has 32 points through 45 games and is on pace for 56 on the season – hist highest total since he scored 29 goals and 62 points with the Toronto Maple Leafs in 2016-17.

Van Riemsdyk’s 2.51 points-per-60 while averaging 11:07 in 5-on-5 ice time is remarkable, with his 3.1 goals-above replacement putting him seventh among Bruins forwards. He’s fifth in actual scoring for the team, so he’s exceeding his contract’s value by a long shot. At the very least, had the Bruins regressed to being outside of playoff contention, JVR would have been an excellent flip piece at the deadline. Now? He’s a valuable piece on a contender.

Jonathan Drouin, LW (Colorado Avalanche)

Contract: One Year, $825,000 AAV

The days of hoping Drouin would return to his old self and become a valuable offensive contributor looked to be over after last season. He only scored two goals, yet his 29 points were his best production in four seasons after dealing with injuries and other issues during his six-year tenure with the club.

But Avs GM Chris MacFarland saw an opportunity to revive the once-dominant Halifax Moosheads duo by signing Drouin to a one-year “prove it” contract alongside star center Nathan MacKinnon. It’s been a smashing success, with Drouin scoring 10 goals and 28 points in 47 games, putting him on pace for just under 50 points. If he can get to the half-century mark, it would be his first time doing so since he registered 53 points in 2018-19. At just over league minimum, Drouin’s production is the type of addition that teams crave, and it’s great to see him thriving again.

You can’t help but be happy for the guy.

Jonathan Quick, G (New York Rangers)

Contract: One Year, $825,000 AAV

Igor Shesterkin hasn’t looked like the guy we’re used to seeing, but Quick has done everything he can to keep the Rangers near the top of the standings. He has a 10-4-2 record with two shutouts and a .915 save percentage this season and was especially strong early on.

It’s been a rocky road over the past month and a half, with all four of Quick’s regulation losses coming over the past six games, but struggles have seemed to plague this team for a while now. For Quick, it was so easy to write him off after his rough 2023-23 season – which ultimately resulted in Quick’s third Stanley Cup, although he was the backup.

But at 38, Quick is still putting up some of his best performances in well over half a decade. Can’t say many saw that coming.

Erik Gustafsson, D (New York Rangers)

Contract: One Year, $825,000 AAV

Let’s be clear: the Rangers signed Gustafsson for his offense, not his defense. And at $825,000, it was worth bringing him in just for his power-play abilities alone. He is currently day-to-day with a lower-body injury, but the 31-year-old has 19 assists and 23 points in 48 games – putting him on a 40-point pace for the second time in his NHL career.

Gustafsson was called upon to step up in Adam Fox’s absence earlier this year and shined. He gave the Rangers another high-end puck-moving option at the point that could ease some of the offensive responsibilities from Fox. AFP Analytics, a consulting firm that focuses on player valuation, has Gustafsson’s projected value at just under $5 million on his next deal, given how impactful he’s been with the puck.

What a steal.

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The five best value signings from the NHL’s 2023 UFA class

Alex Lyon, G (Detroit Red Wings)

James van Riemsdyk, LW (Boston Bruins)

Jonathan Drouin, LW (Colorado Avalanche)

Jonathan Quick, G (New York Rangers)

Erik Gustafsson, D (New York Rangers)

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