Systemfel 33 Report post Posted July 10, 2007 The Penguins have signed center Sidney Crosby to a five-year contract extension. Financial details were not immediately available, but the deal is believed to be worth about $9 million per year. http://www.post-gazette.com/pg/07191/800623-100.stm Fair value. Share this post Link to post Share on other sites
redwingfan19 293 Report post Posted July 10, 2007 Wow 9 mil a year and he's just a kid. Worth every penny though. Ekclown is also saying the same thing, TSN should confirm it soon. Share this post Link to post Share on other sites
toby91_ca 620 Report post Posted July 10, 2007 http://www.post-gazette.com/pg/07191/800623-100.stm Fair value. About a million or so below fair value, still, I bet a lot of Pens fans were hoping for a little more of a discount and longer term....though 5 years is pretty good, knocks at least 1 year off UFA status. Amount still to be confirmed. Wow 9 mil a year and he's just a kid. Worth every penny though. Ekclown is also saying the same thing, TSN should confirm it soon. He has probably already been making more than that already if you consider his NHL salary (including bonuses) for the first couple years was about $4 million, you have to imagine he's pulling in at least $5 million from Reebok, Gatorade, etc. Share this post Link to post Share on other sites
JayUp88 1 Report post Posted July 10, 2007 Good for him. i didn't want to see him bolt out of there after building the pens up again Share this post Link to post Share on other sites
chelios4eva 0 Report post Posted July 10, 2007 Man there goes our chances of getting him too. I really thought we could have signed him. COME ON KENNY Share this post Link to post Share on other sites
superstarsingh 23 Report post Posted July 10, 2007 Thats about right. Share this post Link to post Share on other sites
Cicada 4 Report post Posted July 10, 2007 good move for the pens.. you know that 1/2 the leage would have signed him to an offer sheet if he went rfa Share this post Link to post Share on other sites
StarsWingsFan 0 Report post Posted July 10, 2007 Half? I kid. Good move for the Penguins. Share this post Link to post Share on other sites
NeverForgetMac25 483 Report post Posted July 10, 2007 Man there goes our chances of getting him too. I really thought we could have signed him. COME ON KENNY S & T perhaps? Maltby, Hudler and a pick for Sid. Share this post Link to post Share on other sites
zata40 3 Report post Posted July 10, 2007 good. it's nice to see great playeers stay in one place. Share this post Link to post Share on other sites
eva unit zero 271 Report post Posted July 10, 2007 S & T perhaps? Maltby, Hudler and a pick for Sid. No way, Sid isn't worth that. Samuelsson and Lilja is my highest bid! Share this post Link to post Share on other sites
IceMunkee 15 Report post Posted July 10, 2007 Everytime I read something on the Kid I think of Yzerman. I say man that was really Yzermany or man that dude is like the Captian. He is my favorite player outside of the wings becuase of that. Share this post Link to post Share on other sites
Rice 42 Report post Posted July 10, 2007 Man there goes our chances of getting him too. I really thought we could have signed him. COME ON KENNY I hope you're not serious. Share this post Link to post Share on other sites
Icer 0 Report post Posted July 10, 2007 Now we'll just have to see whether he turns into another Mario.... or another Lindros. Share this post Link to post Share on other sites
StarsWingsFan 0 Report post Posted July 10, 2007 good. it's nice to see great playeers stay in one place. Agreed. Share this post Link to post Share on other sites
Drake_Marcus 890 Report post Posted July 10, 2007 Wow 9 mil a year and he's just a kid. Worth every penny though. Ekclown is also saying the same thing, TSN should confirm it soon. He'd likely break records for yearly pay if he hit the open market. $9 million is a steal for Crosby. Of course he won't be hurting for cash. He makes enough in endorsements to play for $9.45 a year. Share this post Link to post Share on other sites
Wings_Fan_In_Exile 3 Report post Posted July 10, 2007 I'll preface this by saying that Crosby is a very talented player, one of the best if not the most skilled player, blah blah blah and he is worth that contract. The way I see that $9mil per year breaking down is $25,000 for every goal, $20,000 for every assist and $40,000 for every time he whines. Share this post Link to post Share on other sites
chelios4eva 0 Report post Posted July 10, 2007 I hope you're not serious. no i wasn't. People have to learn, I'm a very sarcastic person. Share this post Link to post Share on other sites
Bump 20 Report post Posted July 10, 2007 What are the CBA rules for a contract extension? How is the salary cap figure calculated? Can anyone provide a link to the rule or a site that explains it? Thanks- Share this post Link to post Share on other sites
Systemfel 33 Report post Posted July 10, 2007 (edited) What are the CBA rules for a contract extension? How is the salary cap figure calculated? Can anyone provide a link to the rule or a site that explains it? I don't have a link, but his cap hit for the 07-08 season stays at $3.7 million. Edited July 10, 2007 by Systemfel Share this post Link to post Share on other sites
eva unit zero 271 Report post Posted July 10, 2007 What are the CBA rules for a contract extension? How is the salary cap figure calculated? Can anyone provide a link to the rule or a site that explains it? Thanks- The average value over the life of the contract is the cap hit. Crosby's cap hit will be 9m per season, regardless of the individual season payouts. This as well as the buyout rule, are reasons why you will see more front-loaded contracts than back-loaded in the NHL, a reverse of other cap leagues. Say for example Crosby makes 9m per year and that is his cap hit. Say for whatever reason, he suddenly is ineffective and Pittsburgh buys him out after the third year. Crosby collects 12m, and that would be the cap hit on the Pens. Now, say Crosby makes the same 45m over 5, and is bought out after 3, but his contract is front loaded with three 10m years and the last two are 7.5 each. That means that Crosby makes 30m instead of 27 in the first three years, and he gets 10m from the buyout instead of 12m. That's an extra million Crosby gets and it doesn't hit the cap any differently. Not that I expect a Crosby buyout...just that it was an available example. Share this post Link to post Share on other sites
edicius 3,269 Report post Posted July 10, 2007 Stupid question...does that make him the highest paid player in the league now? I can't remember anyone else with a higher contract at this point, but my memory is faulty even at the best of times. Share this post Link to post Share on other sites
StarsWingsFan 0 Report post Posted July 10, 2007 does that make him the highest paid player in the league now? I can't remember anyone else with a higher contract at this point, but my memory is faulty even at the best of times. I do believe it does, but I'm not even sure. Share this post Link to post Share on other sites
edicius 3,269 Report post Posted July 10, 2007 Actually, TSN just answered my question...and the answer, surprisingly, is no...sort of. Front-loaded contracts confuse the issue. The New York Rangers will pay Scott Gomez $10 million next season after signing the unrestricted free agent and former New Jersey Devils forward to a $51.5-million, seven-year contract. The Philadelphia Flyers signed free-agent Daniel Briere to a $52-million, eight-year contract. It's also front-loaded and will pay Briere $10 million next season. The Buffalo Sabres will pay Thomas Vanek $10 million next season after retaining the forward in a $50-million, seven-year pact that matched an offer sheet from the Edmonton Oilers. When it comes down to it, per contract year, I think Sid will be the highest paid player in the league. However, if you're looking at a season-by-season basis, those front-loaded contracts make it so that players like Vanek, Briere and Gomez will actually make $10M in their first year of the contract. But that's neither here nor there, actually, since Sid's pay next season will still be $3.75M until the contract extension comes into effect in 08-09. By then, I don't think the aforementioned players' contracts will be front-loaded to the tune of $10M/season anymore. Share this post Link to post Share on other sites
kindlwillbegreat 0 Report post Posted July 10, 2007 well hes the best player so i guess you can hes worth it .........i just find it funny that he said he was willing to take less money so the team can sign malkin staal and others ....... i dont know about you guys but taking 1 million less a year just doesnt sound like much of a sacrifice to me , i was expecting him to take 7.5-8 million a year , now if malkin gets a 100 pts hes gonna be asking for at least close to 7 , staal will be askin for 5-6 per when his big deal comes in a few years, thats like 22 million along with ryan whiney for 4 guys and they still gotta sign fleury who will get 4-5, i think in a few years angelo esposito will be traded , they wont be able to keep everyone Share this post Link to post Share on other sites
