SAN JOSE – Martin Jones’ time with the Sharks is coming to an end, and now general manager Doug Wilson’s pursuit of a second goalie to pair with Adin Hill kicks into high gear.
The Sharks on Tuesday placed Jones on unconditional waivers for the purpose of buying out the final three years of his contract, an unsurprising decision given the veteran goalie’s struggles in recent years and the team’s stated need to upgrade the position.
Over six seasons with the Sharks from 2015 to 2021, Jones, 31, was the NHL’s most active goalie with a regular-season record of 170-121-27, and he remains the only netminder to lead the team to the Stanley Cup Final.
But Jones’ statistics tailed off sharply in recent years, mirroring the team’s struggles as a whole, as he battled inconsistency and lost the trust of the coaching staff. He’s had a .896 save percentage each of the last three seasons as the Sharks finished well out of the playoff picture in 2020 and 2021.
Wilson said he informed Jones’ agent, Kevin Epp, that the team was going in another direction, and let him take the lead on a possible trade. None could be found, and the two camps parted ways.
“We were looking for a different look in our goaltending and that’s how we got to this conclusion,” Wilson said Tuesday. “We explored options and what was out there, but we also wanted to treat Martin with the respect that he deserves.
“But we made the commitment to changing our goaltending and we’ve done that.”
The Sharks signed Jones to a six-year, $34.5 million contract extension in July 2017. The deal, which kicked in at the start of the 2018-2019 season, had an average annual value of $5.75 million.
The buyout spreads out two-thirds of Jones’ remaining cap hit over six years. Assuming Jones clears waivers, his cap hit to the Sharks would be reduced to just over $1.9 million next season, $2.41 million the following year, and $2.91 million in 2023-2024. From 2024 to 2027, Jones’ cap hit would be $1.66 million.
The buyout will save the Sharks roughly $3.83 million in valuable salary-cap space for next season, as the team’s hunt for another goalie — either through a trade or free agency — officially gets underway.
Hill was acquired from Arizona on July 17 and is still in need of a new deal. Right now, with a roster of 10 forwards and six defensemen, the Sharks, per Cap Friendly, have $12.3 million in cap space.
“The most important part was getting Adin,” Wilson said. “Now we see who complements him.”
Jones’ contract is the fourth the Sharks have bought out in the last eight years after Martin Havlat, Adam Burish, and Paul Martin all had the final years of their deals bought out in 2014, 2015, and 2018, respectively.
In 2016, a year after he was acquired by Wilson from Boston, Jones became the only goalie to lead the team to the Cup final. His cool, calm presence in goal proved to be the perfect match for a deep and motivated Sharks team, and his unflappable nature fit in well with some large personalities on the roster.
Jones started 60 playoff games for San Jose over a four-year span with a 32-27 record and a .916 save percentage. He helped the Sharks win six playoff series in that time, as they reached the Western Conference final again in 2019.
Still, the Sharks’ team save percentage for the last two seasons has been .891 and .895, marks that were among the lowest in the NHL.
“I think the message (after the Hill acquisition) is clear: Martin Jones is not the go-to-goalie for the San Jose Sharks,” TSN hockey analyst Craig Button said last week. “How does Martin feel about that? Can he benefit from a change of scenery? I don’t know. That’s up to Martin. Clearly, he is not the guy for the San Jose Sharks.
“I have to believe that the San Jose Sharks and Martin Jones are best off with a separation.”
Now the Sharks’ attention turns to finding another goalie, and there are options available on the open market.
Some of the more notable pending free agent goalies set to become available Wednesday include Boston’s Jaroslav Halak, Carolina’s James Reimer, Petr Mrázek and Jonathan Bernier, and Buffalo’s Linus Ullmark. Former Stanley Cup champion Braden Holtby is also available after he was also placed on waivers Tuesday by the Vancouver Canucks.
Wilson said the Sharks have identified a couple of options.
“I need one more goaltender, I need the right piece,” Wilson said. “It’s like a puzzle you’re putting together because when you push people into proper roles, all of a sudden it fits better.
“(We’d) like another quality veteran goalie that you just know what you’re going to get from him.”
The Sharks would also like to add another two-way center to play underneath Logan Couture and Tomas Hertl, and another veteran to play in the bottom-six forward group.
“A leader type-guy, quality guy, that can kind of be a mentor for people,” Wilson said, “and you know what you’re going to get game in and game out.”
