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Capitals trade Semyon Varlamov to Avalanche for picks; Colorado gives him two-year deal

Jul 1, 2011, 2:35 PM EDT

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For those who expected Semyon Varlamov to be KHL-bound, the Colorado Avalanche just said “not so fast.” The goalie-needy team traded their 2012 first round pick and a conditional second round pick to the Washington Capitals for estranged netminder Varlamov.

Now, it’s important to note that the Avs still need to actually sign Varlamov to a contract, so it’s not guaranteed that the Russian goalie will stick with the NHL. That being said, when you consider the enormous price the Avalanche paid merely to negotiate with Varlamov, it would be very surprising if they couldn’t get the job done.

Update: Gord Miller reports that Varlamov signed a two-year, $5.5 million deal. Miller compares it to Carey Price‘s deal with Montreal. It’s a pretty affordable cap hit for Varly, especially when there were rumors that he wanted $4 million per year. That’s not a bad contract after the Avalanche gave up such big assets to get him.

How the Varlamov trade and other moves might affect the goalie market

This trade brings some interesting implications to the goalie market. The Phoenix Coyotes probably decided their top goalie by reuniting former Dallas Stars goalie Mike Smith with former Stars coach Dave Tippett, especially since they already signed Jason LaBarbera to be a backup. The Florida Panthers might have filled their opening with Jose Theodore, but who knows what they might do with Dale Tallon in wheels-off mode. It seemed like top remaining free agent goalie Tomas Vokoun and the Avalanche would be on a crash course for an arranged marriage, but this trade obviously changes that.

Varlamov’s athleticism works for the Avs … but what about his mindset?

Again, the Avalanche still need to sign Varlamov, but the prospects of Vokoun being their man seem low now. Interestingly enough, I haven’t been sold on Vokoun in Colorado because I wonder if the aging veteran possesses the athleticism to cover up the wide-open team’s many mistakes. Vokoun carried weak teams with great individual numbers over the years, but he played behind conservative systems in Nashville and Florida.

Varlamov could be an interesting study if he ends up in Colorado, though. On one hand, Varly is the type of athletic goalie who can make the acrobatic saves required by a defensive group that springs a lot of leaks. At the same time, Varlamov doesn’t have much of a track record as an NHL goalie; can he handle the ups and downs of playing on a young, flawed team like the Avalanche?

We’ll keep you up to date about his negotiations with the Avalanche and other developments in the free agent goalie market.

Capitals make the best of the Varlamov predicament

In the mean time, the Capitals must feel great about the situation. Just about everyone in the league knew that Varlamov wouldn’t re-sign with Washington. Yet instead of losing him for nothing to the KHL, the Capitals will receive two high-end draft picks for their troubles. That 2012 first round pick could be pretty nice if Colorado struggles again – the Avalanche received the second pick in the 2011 draft, after all – and Washington will receive a conditional second rounder to boot. TSN revealed that the Capitals will be able to choose whether that second round pick will be the Avs’ 2012 or 2013 choice.

Washington can now go cheap with Michal Neuvirth-Braden Holtby or combine Neuvirth with a veteran goalie. There’s probably a part of that team that wishes they could keep Varlamov, but seeing that dead end ahead, they pulled out a masterful deal.

Conclusions

If the Avalanche land Varlamov and he actually works out for them (never a guarantee), then this could be an “everyone wins” type deal. Colorado would get their much-needed young goalie, Varlamov might get the kind of deal he wants and be able to stay in the NHL and the Capitals would get a nice package for a goalie they wanted but didn’t need.

There are plenty of “ifs” in that situation, though, so Washington is the only big winner so far. Stay tuned to find out what happens for the other two parties.

  1. bcjim - Jul 1, 2011 at 3:24 PM

    Seems like a steal for the Caps but Varlamov has the potential to be a great goalie. It will be a few years before this trade can be truly judged.

    The Caps have an embarrassment of riches in young goalies, so someone had to go.

  2. t9tookey - Jul 1, 2011 at 7:05 PM

    As an Avs fan (who is also a Hershey Bears fan, so here in the East I get to see more Caps than Avs) I’m not sure I like this trade for the Avs. This only works for the Avs IF (and that’s a big if) Varly stops getting injured every other start and becomes the franchise goalie everyone thinks he can become.

    On the Caps side, GM GM got a GIFT!! He was probably doing a happy dance the second the trade became official. He was pretty much looking at Neuvy and Holtby in Washington anyway (don’t all GM’s wish they had that problem). So he got a 1st and 2nd round pick for a injury prone goalie who was about to head to the KHL. Well played sir!!

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