The Washington Capitals have signed a starting goaltender but it’s not Cristobal Huet.

In a move that obviously means Huet’s short tenure with the Capitals is over, the club has signed former Colorado Avalanche netminder Jose Theodore to a two-year contract  worth $9 million, which breaks down to $4.5 million per season.

The Caps had been negotiating with Huet right up to the last minute in hopes of re-signing the French netminder, whom they acquired at the trade deadline from the Montreal Canadiens for the bargain price of a second round pick.

But given the lack of quality depth in starting goalies in this year’s market the Huet camp appears to have decided to test their value on the open market. It was rumored they were seeking a three-year contract at over $5 million per season.

The Capitals might have been unwilling to pay it but another team seeking goalie depth probably will.

As for Theodore, this past season was a return almost to the form that won him the Vezina and Hart trophies in 2002, and was arguably the main reason the Avs made the playoffs after suffering a rash of serious injuries to their roster.

His post-season record remains erratic, as he followed up a strong performance in the opening round of the 2008 playoffs against the Minnesota Wild with a poor one in the Avs second round humiliation by the Detroit Red Wings.

It’s been a while since I’ve heard a trade rumor reported in the media that made me laugh derisively out loud, but the following did just that.

I was watching Sportsnet’s Hockeycentral tonight, and the panel was discussing the latest speculations, when toward the end of the segment host Darren Millard almost sheepishly mentioned an internet rumor of the Colorado Avalanche supposedly discussing a potential trade with the Tampa Bay Lightning.

The supposed deal? Goalie Marc Denis and center Vincent Lecavalier to the Avs for goalie Jose Theodore and possibly another player.

Good thing I wasn’t drinking my Sidney Street Stout at that time or that would’ve resulted in a painful noser.

While I brayed with laughter,Millard's fellow panelists Bill Watters and Nick Kypreos were quick to dismiss this rumor leaving poor Millard looking more sheepish for having brought it up.

I’m not calling Millard stupid. He didn't cite it as a fact, wasn't suggesting this had any chance of happening, definitely didn’t look comfortable mentioning it and was left almost cringing after Watters and Kypreos were finished ripping it apart. I’m not shooting the messenger.

Millard isn’t stupid. The rumor is.

As Watters and Kypreos pointed out, Theodore simply hasn’t been playing well since last season. Montreal Canadiens GM Bob Gainey somehow enticed then-Avs GM Pierre Lacroix into acquiring Theodore last March, but apart from a few decent playoff games, the 2002 Vezina-Hart winner has shown no signs of returning to form.

This season, Theodore’s been outplayed by backup Peter Budaj, and it wouldn’t surprise me if Budaj takes over full time by March when the playoff races tighten up and every game becomes important. That'll leave the Avs with a $5.5 million backup riding the pine down the stretch.

It’s common knowledge the Lightning aren’t very pleased with Marc Denis poor performance since acquiring him last summer from Columbus, but you can bet what’s left of your Christmas turkey they won’t take a chance on a shaky Theodore and his hefty salary.

As for Lecavalier, even Watters and Kypreos don’t believe he (or Brad Richards or Martin St. Louis) will be going anywhere.

If the Avs want to be rid of Theodore, they’ll have to wait until June when they can buy out the remaining year of his salary at two-thirds its value.

Even without factoring in all the obvious salary cap issues such a trade would raise, this is most definitely the stupid trade rumor of the day, and the first really stupid one of the New Year.

That’s a recent suggestion of MSG Network’s Stan “The Maven” Fischler:

“Don Cherry insists that the Senators must trade Dan Alfredsson. We disagree. Deal Martin Gerber. If not, send the league’s most overpaid goalie back to Farjestad in Sweden! …”

And this solves what exactly, Stan?

I agree with Fischler that Gerber is overpaid, but that’s GM John Muckler’s fault. Few in the league want to take on $3.75 million per season for three seasons when the player isn’t earning that money.

The only way the Sens could send Gerber back to Farjestad is to buy out his contract next June. The buyout rate of two-thirds of the original salary, however, would count against their cap for the original duration of the contract, which expires at the end of the 2008-09 season.

Still, it may be the lesser of two evils for Muckler, although either way it sticks to him like gum on the soles of his shoes.

Oh, and I disagree that Gerber is the league’s most overpaid netminder. That dubious honor still belongs to Nikolai Khabibulin of the Chicago Blackhawks, who’s yet to play up to his eye-popping $6.75 million per season contract (which expires the same time as Gerber’s).

Dishonorable mention to Colorado’s Jose Theodore at $5.5 million for this season and $6 million for next. Granted, the Avs didn’t sign him to that contract but former GM Pierre Lacroix was dumb enough to take Montreal Canadiens’ GM Bob Gainey’s mistake off his hands last season.

Of all the games being played tonight, the Canadiens-Avalanche match will attract the most attention, and I'm not just saying that as a Habs fan.

Jose Theodore, one-time franchise player of the Montreal Canadiens, returns to Montreal to face his former team for the first time since he was dealt to the Avalanche last March for David Aebischer.

His return is naturally sparking much interest from the Quebec media, who followed his life as closely as though they were following a soap opera, which in Theodore's case at times his life came to resemble just that.

From a photo showing him hanging out with Hell's Angels, to members of his family going to prison on loan-sharking charges, to his use of Propecia to his rather mysterious off-ice injury during last February's Olympic break, to his rumored reputation (along with former Habs Mike Ribeiro and Pierre Dagenais) as an off-ice carouser , Theodore's life often came to resemble something out of Dynasty, or the cheesy late-80s Quebec hockey soap opera, "Lance et Compte" ("He Shoots, He Scores").

On the ice, there was his 2002 Hart-Vezina-Crozier trophy season in which he carried an injury-decimated, rebuilding Canadiens team to its first playoff appearance in four years, his strong 2004 season and his strong play in the Swedish Elite League during the lockout.

Had Theodore carried over those strong performances into last season, he'd still be the Habs starting goaltender today. Unfortunately, his struggles to adjust to the new NHL rules combined with what appeared to be difficulty adjusting to new equipment and his off-ice dramas finally taxed the patience of GM Bob Gainey, who surprisingly found a taker for Theodore's supposedly untradeable expensive contract in the Avalanche one day before the trade deadline.

The Canadiens at first blush this season appear to have the better of the deal, as Aebischer this season regained his strong form that seemingly eluded him last season in Colorado, becoming a pillar of strength thus far between the Canadiens pipes. Theodore meanwhile has continued his maddeningly inconsistent play, looking strong one game and simply awful the next.

It's likely to be Aebischer in goal to face Theodore tonight, two goalies facing the teams that dumped them. Hopefully, it'll be an entertaining matchup.

May the best man win.

UPDATE: Montreal 8, Colorado 5.  Not a good game for either goalie but Aebischer gets the win.