Ilya Sorokin - $4M AAV
This one comes with an asterisk as we already know that Sorokin already signed an eight-year extension that kicks in at the start of the 2024-24 season, but for purposes of this exercise, his $4M AAV still qualifies as a major discount, especially while the salary cap still sits at $83.5M.
Sorokin was in a similar position as Dobson when he signed a three-year, $12M extension with the team after the 2021 season. That year, Sorokin went 13-6-3 with a career-best 2.17 GAA, including three shutouts. While he wasn't quite ready to supplant Semyon Varlamov as the team's No.1 goaltender, Varly missing time led to him appearing in 52 games during the 2021-22 season, finishing 26-18-8 and a 2.40 GAA for a team that missed the playoffs.
Sorokin finished sixth in Vezina Trophy voting after that season and was just as good, if not better last season, posting a 2.34 GAA and .924 save percentage. He was the biggest reason the Islanders made the playoffs last season and received Hart Trophy votes in addition to finishing as runner-up for the Vezina.
To date this season, he hasn't performed as a goaltender worth $8.25M let alone the $4M he is earning this year. He took a positive step forward with a 32-save performance against the Philadelphia Flyers on Wednesday night but has a below-average GAA of 3.21 and a save percentage of .909 through 12 games. There's still plenty of time for him to regain the form that made him a Vezina Trophy favorite before the season and for the Islanders to take full advantage of his average No.1 goaltender AAV for a few more months.