Johan Franzen signs extension, 11 years

[PRStoetzer 1]

11 years, 370 million SEK ($44 million)

http://www.aftonbladet.se/sportbladet/hock...ticle4882414.ab

[egroen 384]

But it's 2/3 the remaining VALUE of the contract spread out over double the number of years, not 2/3 of the remaining cap hit.

It's not that simple.

1. Take the actual salary due for each remaining year.

2. Take the Averaged Player Salary (cap hit) for the current contract

3. Calculate the buy-out amount (two-thirds)

4. Spread the buy-out amount evenly over twice the remaining years of the contract

5. Take the number in #1 and subtract the number in #4. This is the buyout savings.

6. Take the cap hit from #2 and subtract the buyout savings from #5.

This calculation has to be done for each year - meaning that the cap hit on a buyout will not necessarily be the same for all years. It can even be negative (meaning the team gets a credit). The cap hit on a buyout is only the same for all affected years if the remaining yearly salary is the same for all years. If it varies, then the cap hit on a buyout will vary.

Edited April 11, 2009 by egroen

[#18 the _Hoss_ 2]

So Kenny is locking up people?

Edited April 11, 2009 by #18 the _Hoss_

[EuroTwin 240]

HOLY JESUS ON A POGO STICK! That's AWESOME.

HOSSA FOR FIVE MIL. I BELIEEEEEEEEVE.

[Carman 387]

This move is either going to be an absolutely amazing deal, or come to really reallly bit us in the ass. Let's hope the Mule stays healthy!

[RedWingsRox 614]

Great signing Holland but don't forget to save some money for a goaltender. Don't know if I can go through another year like this.

[KronwallCRUNCH 5]

So Kenny is locking people up ?

lmao

[softshoes 83]

Don't know if it was said yet but 97.1 just said 11yrs, but no official details yet.

If it is 11yrs doesn't that get us to Franzen's AARP discount?

Edited April 11, 2009 by softshoes

[evilmrt 636]

Aftonbladet.se claims its 4 million per year. I find that strange that its not front-loaded.

[Guest mindfly]

$340M SEK for 11years, dunno the caphit on that,

[WingsFANstuckintheSOUTH 10]

mlive has 3.9 mil cap hit with no trade clause first 5 years

[titanium2 867]

Doesn't that get us to Franzen's AARP discount?

Lmao. Along with a weekly coupon for 50 cents off of Metamucil?

[Chunkylover 26]

Lmao. Along with a weekly coupon for 50 cents off of Metamucil?

...And a discount at Country Kitchen Buffet.

I find it hard to call it a home town discount if it takes eleven years to bring the cap hit down to 3.9.

Edited April 11, 2009 by Chunkylover

[titanium2 867]

mlive has 3.9 mil cap hit with no trade clause first 5 years

Ugh... Buzzkill. I was excited for the contract but now a 3.9 cap hit?

[egroen 384]

mlive has 3.9 mil cap hit with no trade clause first 5 years

If that is the case, I am not nearly as excited about it.

[pucker4fischer 0]

is average the same thing as cap hit??? that might be a dumb question

[Reds4Life 51]

3.9 a year is very bad deal for Franzen.

Edited April 11, 2009 by Reds4Life

[Guest mindfly]

DAMNIT yet another NTC... dont give them NTC damnit

[Konnan511 1,736]

is average the same thing as cap hit??? that might be a dumb question

Baring no signing bonuses, yes

If the cap hit is 3.9 then this is a horrible deal. I'm fairly sure we could have signed him for 3-4 years at a cap hit of 4 mil.

[YoungGuns1340 1]

The world economy is going to be totally different in 5 years. I'm not going to analyze how this deal will look then.

[WingsFANstuckintheSOUTH 10]

i dont think 3.9 is bad if thsi was a 3 or 4 year deal. Franzen could get 5.5+ on the open market this summer. the 11 years on a 29 year old player is the scary part. With that said, trust holland, he has always made the right deals for this team.

[YoungGuns1340 1]

DAMNIT yet another NTC... dont give them NTC damnit

If Franzen stays in the vicinity of 30 goals, 3.9M won't be hard to trade even if he does have an NTC. That basically just means "Franzen, we want to trade you, so put together a list of teams you'd be willing to accept a trade to."

[Guest mindfly]

3.9 a year is very bad deal for Franzen.

Think of Cleary's contract then which is 2.8M caphit, and he is utterfly worthless, 3.9 is OK but could have been 3-3.5 to be good imo.

[Guest DetroitBoy313]

3.9 a year is very bad deal for Franzen.

Do you mean it's a bad deal for Franzen himself or for the team? We all know Franzen would of got more money if he would of went elsewhere but honestly I just don't like the length of these deals Holland has been giving out lately.Something fishy is up with these long term contracts,I'm not crazy about giving Franzen 10+ years.

[FinRedWing 172]

I love Franzen,but I thought the 11 yrs bit would've pushed the cap hit down more than into 3.9.