Not a fan of resigning him unless it's extremely cheap. He shouldn't be taking center time away from the kids who are pushing for those spots.
Also, its very noble he (and his wife) are great in the community. But in terms of why he is on this team, that is absolutely secondary to his on-ice performance. I loved Iggy and how good he was the community, but more than anything he was paid $7 mil/season to deliver on the ice, and when it comes down to it, that's what matters most in the hockey world. Most Hockey fans would agree.
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