he Pittsburgh Penguins and Sidney Crosby are finalizing a new contract worth in excess of $100 million, a source in the negotiations confirmed to ESPN.com on Thursday.
The source said the deal would carry an average salary of around $9 million a season, although it would be front-loaded, and is expected to be 12 or 13 years in length. The final details are still being worked out, the source said.
The tentative deal was first reported by TSN in Canada.
Crosby, 24, whose season was twice interrupted because of symptoms from a concussion suffered in 2011, cannot officially sign the contract until Sunday, per the rules in the collective bargaining agreement for players still having one more year on their current contracts.
Crosby has one more year remaining on his current contract, which counts $8.7 million against the salary cap. The new contract would go into effect for the 2013-14 season.
If Sid stuck at 8.7 hit... man, I don't see how any fan anywhere in the league can't have respect for that. You can say he complains too much to refs or whatever but when you have the ability to command a HUGE yearly increase and you take the same money so your team can be better... ****ing platinum classy. Way to go Sid. Let's hope Geno follows suit.
Nick Kypreos @RealKyper
Breaking #NHL news. Done deal. Look for #Pens to announce star Sidney Crosby to a new 12 year contract for 104.4M. Annual cap hit 8.7M
TenderRip, this is one time I'm glad Dreger just choose safe language of 'close to 9'.
Now, Pens will front-load deals for Parise and Suter, and Geno will take what Sid got.
IF the Pens can pull it off such that the combined cap hit for Parise and Suter is no more than what they've got left in cap space, then they move Martin and TK and have 7M left over for another top nine forward (preferably one for Sid so Duper can play with Cooke and Sutter), a 4th line LW, a #4, #5, and #7 defenseman, and a little money for the deadline.
Run the numbers: 4th line winger + Bortuzzo + Despres = 2M. Say you keep a million for the deadline. That leaves 4M, minimum, for a #4 and another top nine winger. It's doable.
Actually sign, no. Agree to the deal and start buying strippers and using them to satiate the sexual desires of all his closest friends for 1K an hour? Yes.
I won't bother explaining this to the main board, but someone find out what the Cap was when Sid extended for 8.7 last time, divide that AAV into it and then do the same thing for 70.2M and tell me we didn't get much of a discount.
Michael Russo, the Wild beat writer for the StarTribune and rather well connected to the industry, seems to think that the Pens almost have Parise locked in due to the Sid signing and that the Wild will offer him a massive contract to try to pry him away.
Yah I think he can... maybe the team is waiting to announce so it can be while he's sitting next to Zach at the mic table.
No, you can only sign contract extensions when free agency starts for players that have one year left in their contract. If this off-season was Sid's expired contract year, they could sign it at anytime, either during the season or in the off-season.
Same as you can only begin negotiating with those players who have one year left on their contract in the off-season before their final year starts.