Colorado Avalanche Sign Matthew Phillips

The Colorado Avalanche have added to their forward depth, as they have signed Matthew Phillips to one-year, two-way contract. At the NHL level, he will carry a $775,000 cap hit.

We've signed forward Matthew Phillips to a one-year deal. #GoAvsGo pic.twitter.com/7yChYLPaUJ
— Colorado Avalanche (@Avalanche) August 9, 2024

Phillips, 26, started this past season with the Washington Capitals before being claimed off of waivers by the Pittsburgh Penguins. Yet, his time as a Penguin was incredibly short, as he played just one game for Pittsburgh before being placed on waivers again and then reclaimed by the Caps. In 31 games split between the two clubs on the year, he had a goal, four assists, and a minus-3 rating.

Phillips has shown plenty of promise at the AHL level throughout his career. For example, just back during the 2022-23 with the Calgary Wranglers, he posted 36 goals to go along with 76 points in 66 games. He has had trouble translating some of that offense to the NHL level, but perhaps joining the Avs could help him become a bigger threat.

The Avalanche certainly could use more depth on the wing, so it makes sense that they are taking a chance on Phillips. At worst, he will be a decent depth forward or call-up option for the Avalanche next season.

It will now be interesting to see what kind of season Phillips can put together with the Avs from here.