On March 5, 2001, Khabibulin was traded to the Tampa Bay Lightning in exchange for Mike Johnson, Paul Mara, Ruslan Zainullin and the New York Islanders' second-round choice (previously acquired; Phoenix selected Matthew Spiller). Khabibulin quickly signed a contract with Tampa Bay and by the next season, he re-emerged as a premier goaltender. At the 2002 NHL All-Star Game his flawless, 20-save third period allowed the World All-Stars to rally for a comeback 8–5 win. Though Éric Dazé of the Chicago Blackhawks was chosen as the All-Star MVP, Khabibulin's play was the talk of both locker rooms. Indeed, many players were surprised that Khabibulin wasn't named MVP, an honour they felt was deserved and obvious. MVP voting was allegedly conducted with about five minutes remaining in the game while the North American All-Stars still held the lead.