Cap Hits
Phaneuf - 7 mil
Brian Campbell - 7.1 mil
Boychuk - 6 mil
Gio deserves more than these guys (actually MUCH more), but for the sake of signing other players, I am sure he won't ask for much more.
6 years @ 7.5 cap hit is fair. If it's 5 years, I think the hit should be around 8 mil. You may be over paying in the future, but if the cap goes up (which it should) it won't feel as bad. And you are rewarding a player for what he has done in the past at such a cheap rate.
You do not want Gio going into the season without a contract. If he does well (and he should) he'll then wait it out and teams like Florida who need to hit the cap floor will throw bags of money at him. Gio seems like a team first kind of guy, but I am sure he wants to be compensated (who wouldn't).
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