Nikolai Khabibulin was drafted 204th overall in the 1992 Entry Draft by the Winnipeg Jets. In the shortened 1994-95 season, Nikolai made his NHL debut and went 8-9-4 in 26 games. In 1995-96, Nikolai became the Jets' number one goaltender and went 26-20-3 with two shutouts in 53 games. In 1996-97, he moved with the club to Phoenix (now the Coyotes) and went 30-33-6. He also set team records with 72 games and seven shutouts. In 1997-98, Nikolai played 70 games and went 30-28-10 with four shutouts. He also participated in his first mid-season All-Star Game. In 1998-99, Nikolai helped the Coyotes post the fewest goals allowed in franchise history by posting a 2.13 goals-against average. Nikolai went 32-23-7 and broke his own team record with eight shutouts on the season. He also played in his second mid-season All-Star Game.
On March 5, 2001, Nikolai was traded with Stanislav Neckar to the Tampa Bay Lightning for Mike Johnson, Paul Mara, Ruslan Zainullin and a second-round draft pick. He then played two games for the Lightning and posted a 91.3 save percentage.
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