From a Buffalo Sabres perspective, the Alexandar Georgiev experiment was supposed to be a low-risk reset on a once-ascending NHL goaltender. Instead, it became another short stop in a rapidly unraveling career arc that has now stretched across three leagues in under two seasons.

Georgiev has officially terminated his contract with KHL club Spartak Moscow, according to league confirmation, with his representation indicating the veteran netminder intends to pursue an NHL return next season. For the Sabres, it marks the end of a brief and underwhelming stint that never found traction at either level of the organization.

After a difficult run with the San Jose Sharks, Georgiev signed a one-year, $825,000 contract with the Buffalo Sabres in September, a move designed to stabilize a volatile goaltending depth chart without significant financial risk. The hope inside the organization was simple: recreate the version of Georgiev who once led the NHL in wins and briefly looked like a long-term starter with Colorado.

That version never materialized.

Instead of pushing for NHL minutes, Georgiev struggled to separate himself in camp and early-season evaluation, eventually landing with the Rochester Americans in the AHL. The results there did little to change the trajectory. In limited action, he went 0-2 with a 3.57 goals-against average and a .896 save percentage—numbers that mirrored the inconsistency that had already defined his recent NHL stretch.

By the time Buffalo made the decision to move on, the organization was no longer evaluating upside. It was simply trying to reset its depth chart.

Not long ago, Georgiev looked like a goaltender on the rise. During his time with Colorado, he earned full-time starter responsibility and reached his peak in the 2023-24 season by leading the NHL with 38 wins, while also tying for the league lead in victories the year prior.

But the decline came quickly and decisively.

Across his final stretch in the NHL with Colorado and San Jose, his numbers dropped sharply, and his game lost the consistency that once made him a volume-win starter. By the time he reached Buffalo, he was no longer being acquired as a long-term answer—he was a reclamation project on a one-year flyer.

After his brief stint in Rochester, Georgiev and the Sabres parted ways, and he signed overseas with Spartak in the KHL. There, he stabilized his performance, posting a 2.37 GAA and a .918 save percentage over 24 appearances. The numbers suggested competence, but not enough to fully restore NHL starter credibility.

Now, with his KHL contract terminated, Georgiev is once again testing the NHL market. But the league he’s returning to looks different than the one he once briefly dominated in wins. Most teams are already set in net, and the remaining openings project heavily toward backup or organizational depth roles.

For Buffalo, the move is already in the past. For Georgiev, it’s another reset in a career defined increasingly by them.