Who said it was 5.5 a year? How do you guys know it's not 5.5 mil spread out the five years? I think it's certainly plausible and if true, these cap worries are nonexistent.
Given that Bryzgalov's rights were traded from Phoenix because he wants to get paid, given that he's stated he wants to be one of the highest-paid goaltenders in the league, and given that he's a fairly good goalie, $1.1m per year is absolutely implausible. There's a 0% chance that it's the case.
Eh, I think it would be better to try and sign Joey for half a million again and use the money where it is really needed on defense and a either a top six forward or another depth forward or two.
Joey is not an NHL goaltender. He is a career third-stringer.