Breaking: Top-4 defensive free agent's new contract show how far his star has fallen.

The former first round draft pick has taken a huge step back in the eyes of the NHL.

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This is clearly a sign that organizations around the league no longer view Luke Schenn as a top four defenseman.

There was some surprise that the free agent defenseman had gone unsigned so deep into free agency, but we likely now know why. First Sportsnet insider  Nick Kypreos broke the news that Schenn had agreed to terms on just a two-year deal with the Arizona Coyotes.

The term alone for a 26 year old free agent defenseman, and on top of that a former first round pick(fifth overall), would indicate a lack of confidence in his abilities, but according to Sportsnet's Elliotte Friedman Schenn will only earn $2.5 million total over those two years for an average annual value of just $1.25 million.

It's a massive fall from grace for Schenn who was once viewed as a player with a very high ceiling, and it's frankly shocking to see how little value he got for his services on the open market.