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Pittsburgh signs Kris Letang to extension (8 years, $7.25M per)

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Old
07-03-2013, 11:54 AM
  #776
healthyscratch
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Originally Posted by ObsessedCreative View Post
Supposedly, but that was really only being reported by Rossi so it was probably all bull. Who cares happy and hopeful to see him keep improving into something really special.

I said it when he was a rookie that I could totally see Letang turing into a Scott Niedermayer type of player all indications show that he is still on that development path!
Dude, every time I see your avatar I think Canucks. Maybe change the colors to black and gold?!

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07-03-2013, 12:18 PM
  #777
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Some here need to get a bit of reality tempered by some good common sense predictions of where the cap will be in coming years.

First a bit of history. Revenues, and therefore the cap, has gone up about 55% between 2005 and 2013, an average of 7% per year, since the 2005 lockout:

Previous NHL Salary caps:
2012-13: $70.2 million
2011-12: $64.3 million
2010-11: $59.4 million
2009-10: $56.8 million
2008-09: $56.7 million
2007-08: $50.3 million
2006-07: $44 million
2005-06: $39 million

Revenues have never gone down. Now let us project forward. Assume only a 5% growth in revenues, not the 7% we have averaged. Granted the player's share changed in the new CBA, but still:


2013-14: $64.3 million
2014-15: $64.3 million
2015-16: $66.1 million
2016-17: $69.5 million
2017-18: $73.1 million
2018-19: $75.9 million
2019-20: $80.9 million
2020-21: $85.1 million
2021-22: $89.5 million

Assume a 6% growth, still under what we have averaged:

2013-14: $64.3 million
2014-15: $64.3 million
2015-16: $68.2 million
2016-17: $72.3 million
2017-18: $76.6 million
2018-19: $80.1 million
2019-20: $85.1 million
2020-21: $90.3 million
2021-22: $96.0 million

Crosby, Malkin and Letang are signed for the next nine years for a total of $24.45 million. Right now, starting the season after this coming season when Letang's cap more than doubles, that is 39.5% of the cap. But as soon as the next year that almost certain drops, likely to something like 35%, the year after to 33%, and so on. By the time Malkin's and Letang's contracts end those three will take up about 25% of the cap. And each will still at the tail ends of their prime in their early 30's.

People need to get some perspective but instead act like these players will take up 40% of the cap forever. That changes in the Pens favor, given no lingering injuries which is admittedly the chance any team takes with these, as soon as a couple years down the road.

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07-03-2013, 01:03 PM
  #778
redjax
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Originally Posted by Rowdy Roddy Peeper View Post
Uh, he is? Letang has the 3rd highest cap hit among defensemen right now. Somehow, I don't think he'll hold that ranking past Subban's extension next summer, let alone 'til he's 35.
Fair enough, but $7.25MM is still going to be pretty hefty throughout the length of the contract - it's still probably going to be 8% of the team's cap hit in the last year of the deal (about $5.2MM with the 13-14 cap).

And the Suter and Parise contracts are atrocious, so that's not a great comparable.

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Originally Posted by Jaded-Fan View Post
People need to get some perspective but instead act like these players will take up 40% of the cap forever. That changes in the Pens favor, given no lingering injuries which is admittedly the chance any team takes with these, as soon as a couple years down the road.
All true. But 2014-15 is going to be interesting to say the least.

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07-03-2013, 01:14 PM
  #779
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All true. But 2014-15 is going to be interesting to say the least.
It will be interesting, I agree. We need at least one of our great D prospects to come through for us and Bennett to stick with the big club.

No one is argueing that the amount the Pens have tied up in their best players isn't very high, they are saying the players are worth it. Something pretty ****** has to happen next year for Letang, Malkin or Neal to become completely untradeable (like lets not even go there with the captain, he stays forever). These are not Gomez/Bryzgalov/Richards type contracts. Those are top10 players payed top dollar.

Can we just stipulate that there is some change someone (maybe even Letang) will need to be traded eventually and in return you guys stipulate that they would be very, very tradeable?

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07-03-2013, 01:20 PM
  #780
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Originally Posted by alConn View Post
Fair enough, but $7.25MM is still going to be pretty hefty throughout the length of the contract - it's still probably going to be 8% of the team's cap hit in the last year of the deal (about $5.2MM with the 13-14 cap).

And the Suter and Parise contracts are atrocious, so that's not a great comparable.



All true. But 2014-15 is going to be interesting to say the least.
Why? And actually my figures were wrong, mostly because I got some of the numbers from a journalist from this article http://www.theglobeandmail.com/sport...rticle7029575/ and should have known that trusting them to be right on anything was a very wrong idea. The cap is fixed next season but can go up as soon as the season after, when Letang's contract doubles his salary. So basically the increase Letang gets in 2014 will eat up the likely increase in the cap.

Meaning that the Pens will likely ice a very similar team to the one that they have today. Oh, some players will change, but none that matter all that much. Next year the Pens will remain one of the cup favorites, and there is no reason to believe that they will not be the year after. After that is where it gets fun. When they can start playing with the EXTRA cap room this deal, as well as Malkin's and Crosby's provide. These deals are only bad to those who have no idea how the system works, and who try to compare RFA deals to UFA deals, deals signed 4 years ago with deals signed today. 4 years from now these deals will be the bargains others will point to. Crosby's $8.7 million per deal is already looking like a bargain, no?

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07-03-2013, 01:44 PM
  #781
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Why?
Because you will have $48 million tied up in 8 guys when the cap won't be higher than $68 million in 2014-15, plus the goaltending situation, among other things. Interesting to see what Shero does. And this contract also assumes that Letang will pick up the play in his own zone a bit, I assume.

Quote:
Crosby's $8.7 million per deal is already looking like a bargain, no?
Uh, no.

Even ignoring injuries (both past and future), his production is going to decrease along with his % hit against the cap starting around 2017, so it will be a good deal for the next 4 seasons, but the last 8 it will probably be fair at best.

It's a fair contract, though. Face of the franchise, best total skill set on the planet at the moment, etc. and so forth.

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07-03-2013, 01:48 PM
  #782
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Quote:
Originally Posted by alConn View Post
Fair enough, but $7.25MM is still going to be pretty hefty throughout the length of the contract - it's still probably going to be 8% of the team's cap hit in the last year of the deal (about $5.2MM with the 13-14 cap).

And the Suter and Parise contracts are atrocious, so that's not a great comparable.
That's more than manageable. Teams will be paying more money for comparable and lesser defensemen in short order - if you want to retain elite defensemen, you have to pay. That's what it boils down to.

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07-03-2013, 01:51 PM
  #783
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Dude, every time I see your avatar I think Canucks. Maybe change the colors to black and gold?!
haha next time I re-brand my company I will keep it in mind!

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07-03-2013, 02:33 PM
  #784
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Originally Posted by alConn View Post
Even ignoring injuries (both past and future), his production is going to decrease along with his % hit against the cap starting around 2017, so it will be a good deal for the next 4 seasons, but the last 8 it will probably be fair at best.

It's a fair contract, though. Face of the franchise, best total skill set on the planet at the moment, etc. and so forth.
lol. right

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Old
07-05-2013, 01:29 AM
  #785
Tyler Biggs
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Man that's a lot of money for so few players.

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Old
07-06-2013, 09:58 AM
  #786
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contract is looking a lot better after yesterday

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Old
07-06-2013, 10:07 AM
  #787
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contract is looking a lot better after yesterday
Us realistic folk never expected this.

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