Colorado Rapids Goalkeeper Math: Zack Steffen Free Transfer. What Does it Mean?

Update: This article was originally published on January 4, 2024. The following day, Burgundy Wave confirmed that Zack Steffen joined Colorado Rapids from Manchester City on a free transfer.

COMMERCE CITY – Colorado Rapids have officially signed American goalkeeper Zack Steffen, the club announced Thursday afternoon. The 28-year-old joins after four and a half years at Manchester City. He signs a three-year deal through 2026 with an option for 2027. Steffen will not be a DP being signed on Targeted Allocation Money. Colorado has traded $50,000 in 2024 General Allocation Money to New England Revolution for his discover rights.

Transfer fee wise, there’s been some confusion. A City aggregate account incorrectly reported the fee as $7 million. That was a mix up as $7 million is what City paid to acquire him from Columbus Crew in 2019. Burgundy Wave can now confirm that Steffen joined the club on a free transfer. Sources have told Burgundy Wave that this was not a deal Colorado was pursuing but when it came up given the cost (or lack there of), they made it happen.

This move is huge get given the financial details (free transfer, not a DP) but has some concerns. Steffen is coming off summer knee surgery, but has not been listed in City’s team news of late. So he’s likely healthy for preseason. He never caught on at Man City, which isn’t the end of the world.

Even so, his loan stint at Middlesbrough wasn’t great. They got eliminated in the promotion playoff. He was the presumed starter for the USMNT at the World Cup and played his way out of the team entirely. He’s not in the national team picture at the moment. That is a precipitous fall from grace. He is Distressed Assets FC.

That said, his ceiling is still being in the national team pool and MLS star. He won Goalkeeper of the Year in 2018 and was a beast for Crew through his early twenties. If this goes right, Colorado has a top three goalkeeper in MLS with profitable resale potential back to Europe. He’s already on the short list for 2024 Goalkeeper of the Year. (Pump the breaks on the Hype Train, Tom).

He’s a good shot stopper. Gregg Berhalter and Pep Guardiola wanted him because of his distribution. Skillset wise, he’s a modern goalkeeper and exactly what Colorado needs to sure up the net and defense.

William Yarbrough is out, fairly or unfairly.

Burgundy Wave has separately heard Tom Bogert’s reporting that San Jose Earthquakes have acquired William Yarbrough’s MLS rights. Colorado had declined the 34-year-old’s club option for 2025. They had been in negotiations after that. That clearly did not work out.

The Quakes likely got his MLS rights for peanuts in GAM. The MLS roster rules are bit ambiguous here. What probably happened was Colorado made an offer MLS deemed sufficient. Talks broke down. Yarbrough saw the writing on the wall with the Steffen rumors. Colorado got something in exchange for the player walking. Now San Jose will try to work out a deal. Globally, Yarbrough is a free agent. A move back to Mexico is possible.

Yarbough was a solid pro and good person. Remember that time he stayed till midnight thanking fans after a game got delayed? He leaves with the club record 31 clean sheets. He was captain for a time. He was an average shot stopper but a good leader and organizer at the back. He was one of the anchors of that 2021 side that finished top of the conference.

Yarbrough joins a growing list of Burgundy Boys who were critical players and good people that have since been moved off rather unceremoniously. They deserved better. Get well Yarby. We’ll always have 2021.

Marko Ilić being relegated to backup prompts financial questions.

Prior to this, Colorado had just one goalkeeper on the roster for 2024, soon to be 26-year-old Marko Ilić. He joined on loan in February 2023 and was made permanent in July, renegotiating with Belgian club K.V. Kortrijk after the original option to buy agreement had expired. That saga was weird on its own.

Burgundy Wave has reported that guarenteed transfer fee was $800,000, the third highest in club history. Add-ons are possible, but we have been unable to confirm their existence or specifics.

Burgundy Wave believes the front office had already made up their mind in the summer that he was going to be here long term and they were moving off William Yarbrough, even before Will’s injury.

According to American Soccer Analysis’s Goals Added stat, Ilić was the worst keeper in MLS last year with a g+ of -6.51, with -5.74 of that being shortstopping. Ilić let in almost six more goals on the shots he faced than the average 2023 MLS goalkeeper would have on those same shots. Not great Bob.

That being said, Ilić improved over the course of the year. Like several other players, he had a good run at the end of the season under interim Chris Little. Presumably with his personal life sorted here in Colorado and having adjusted to the country, league, and language, he should be better in year two.

A club source once described Ilić having the potential to be multi-million dollar goalkeeper one day. It’s hard to see that from his performances last year. If the club does see him as a bit of a sunk cost, it’s good to see them acting to correct that.

Still, they paid almost a million to get him. He takes up an international slot. His 2024 salary should be around $450K. Upgrading to Steffen when you find out he’s on a free transfer is great. It’s still kind of wild for an MLS team to potentially be paying $2 million in salary to two goalkeepers, unless one of them is Roman Bürki or Andre Blake.

Meanwhile, the two Ohio teams just won major trophies with keepers they got in the SuperDraft, neither of whom make over $150K. A club source has told Burgundy Wave that the organization feels the domestic goalkeeper market has been down recently. This front office still makes puzzling moves.

Last Word: What about the third choice goalkeeper?

Colorado could sign the cheapest guy possible during preseason. They’ve spent enough money on keepers. Adam Beaudry turns 18 in April and graduates high school this year. He could sign as a homegrown and start for Rapids 2.

Photo Credit: John Babiak

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