Since the NHL returned to Denver in 1995, it's been exceedingly easy to be a Colorado Avalanche fan. The Avs won the Stanley Cup that first season, and another one five seasons later. They finished first or second in their division in each of the first 10 seasons, and they qualified for the playoffs 12 straight years. All the locals have ever known is winning.

Now comes the hard part.

The Avs are looking at a long rebuilding project. Poor management has led to a dearth of talent and an abundance of horrible contracts given to aging and/or unworthy players. In the salary cap age, those mistakes can't be simply brushed aside.

The bottom fell out this season, when Colorado's attempt to recreate the glory years backfired. Joe Sakic nearly lost his fingers in a snow blower mishap; Adam Foote was slowed (further) by nagging injuries. There was even yet again a brief flirtation with eternally hobbled Peter Forsberg.

Last month, the Avs tried once again to resurrect the past, but this time the past said "no thanks" to them. Hall-of-Fame goaltender Patrick Roy turned down an offer to coach the Avs, opting instead to remain in charge of a junior club. What does that tell you?

GM Francois Giguere got the axe in May. Coach Tony Granato was fired (again) later in the month after Roy turned down Colorado. Giguere was replaced by Greg Sherman, former NHLer Joe Sacco was brought up from the AHL to step behind the Avs bench.

FORWARDS

The Avs have eight NHL-level forwards under contract through at least next season Ryan Smyth, Milan Hejduk, Wojtek Wolski, Darcy Tucker, Marek Svatos, Paul Stastny, T.J. Hensick and Chris Stewart. Total: $25.55 million.

One of the big questions this summer is what the Avs will do with Joe Sakic, who's an unrestricted free agent. If they sign Sakic, they're headed well over $30 million on forwards. It's time for the Avs to let Sakic walk away, but they've never moved on well, have they?

At this point, it might be time to say the Edmonton Oilers tough as that must have been were right to trade left winger Ryan Smyth instead of signing him to a long-term, big-money deal. The Avs bit on Smyth in free agency two summers ago, and now it's one of the contracts that is biting them. Smyth was OK this season 25-33-59, minus-14 but not nearly worth the $6.25 million cap hit.

Another brutal contract is Tucker at $2.250. Even the Maple Leafs decided he couldn't play anymore, buying him out last summer.

Paul Stastny was hurt last season, but productive when he was able to play. Still he'll need to step it up a notch to justify his five-year, $33 million contract which kicks in next season.

Wolski has regressed, going from 22 goals as a rookie in 2006-07 to 18 in '07-'08 and only 14 last season. Can anyone figure out Marek Svatos? His goals the last four seasons, starting in 2005-06: 32, 15, 26, 14.

Other UFAs of note: Tyler Arnason, Ian Laperriere, Ben Guite and Brian Willsie. They need Lapperiere on this club badly. He does that job Tucker is supposed to do.

It's likely all three key restricted free agents will return, too: David Jones and the two Cody Mcs, McLeod and McCormick.

DEFENSE

The Avs have five NHL-level defensemen signed through at least next season Scott Hannan, John-Michael Liles, Brett Clark, Ruslan Salei and Adam Foote. Total: $18.225 million.

Liles is the only blue-liner with a modicum of skill. The rest of the returnees are all varying degrees of bad contracts.

Clark had 39 points two seasons ago, but slid all the way 12 points this season. He's making $3.5 million.

Hannan, at $4.5 million, and Salei, at $3.025, are ridiculously overpaid. Foote is still tough as nails, but injuries, age and a wide-open league in which clutching and grabbing are now whistled have all conspired against him.

UFAs include Daniel Tjarnqvist and Lawrence Nycholat. Not much help there.

Expect Kyle Cumisky, an RFA, to be resigned.

GOALTENDER

The state of this position alone might explain Roy's reluctance to jump at the job. The Avs do not have a goaltender signed for next season.

Andrew Raycroft is an UFA, and he won't be back. Not just in Colorado, but possibly the league. After lighting up the NHL as a Bruins rookie in 2003-04, Raycroft is 59-69-16 with a 3.23 goals-against average and .888 save percentage. He might need to resurrect his career in the minors.

Which brings us to minor-league goaltender Peter Budaj, who has been given every chance to nail down the No. 1 job and hasn't grabbed it. He's an RFA. One would expect him to get qualified, but look for the Avs to go after a bargain-priced No. 1 to get through next season, with Budaj the back-up.

Their salary cap situation won't allow for much more.

BIG PICTURE

The Avs have 13 players signed for next season at $43.8 million. That leaves them roughly $12 million to sign or resign seven more players, including a goaltender.

If Sakic wants to keep playing, they'll be in even worse shape.

The Avs are a mess, and this won't be a quick fix. It'll take this season to start getting the bad contracts off the books. There are simply too many of them to buy out.

The 2009-10 season is looking painful.

NEXT WAVE

Kevin Shattenkirk is the real deal, scouts say. But he won't debut in Denver for at least another season, as he's set to return as a captain at Boston U. in the fall.

T.J. Galiardi did not produce as expected in his first pro season, putting up 10-17-27 in 66 games with Lake Erie (AHL).

The Avs own the No.3 overall pick in the 2009 NHL entry draft later this month, leaving them out of the running for the two elite players in the draft center John Tavares and defenseman Viktor Hedman.

OUTLOOK

It'll be curious to see how Puppeteer Pierre Lacroix will play this off-season. Despite the hiring of Sherman, it's believed that Lacroix the GM during the glory years is pulling all the strings from the back office.

The Avs might be better off to take their lumps in 2009-10 and '10-'11 and let a rebuilding process take root. This club is not close to being competitive. They scored the fewest goals in the league last season, and allowed fifth-most.

A two- or three-year rebuild could be problematic, however.

All Denver fans have known is legendary players, playoff runs and lots of winning. Last season, when the losses mounted, the crowds thinned out. The Pepsi Center was almost half empty on a few weeknights.

It's a highly competitive sports market. The Nuggets are becoming the sexy ticket in town. That would have never seemed possible only a few seasons ago.