[Signing] Phaneuf signs 7yr x $7mil contract extension

[sureLoss]

Darren Dreger ‏@DarrenDreger 16m
Aside from a couple of details, Phaneuf and the Leafs are very close on a 7 year, $7 mil per contract extension. Term was key. #tsn

Bob McKenzie ‏@TSNBobMcKenzie 21s
"@DarrenDreger: Aside from couple of details, Phaneuf and TOR close on 7 x $7 mil extension."No Move/No Trade language still being worked on

[Flashpoint]

Well, that ought to keep the Leafs from winning anything for going on 57 years.

Keep it up Toronto!

[Poe969]

Too long. Too much. Have fun with that deal lol

[getbak]

Best part of this news is that it means Burke won't be trying to trade for him or going after him on July 1.

[UKflames]

Originally Posted by getbak

Best part of this news is that it means Burke won't be trying to trade for him or going after him on July 1.

Sign and trade to the flames

[Machiavelli]

So what is Subban going to get?

[Caged Great]

I am thrilled with this. He's not coming back, and the Leafs will suck for another 8-10 years

[getbak]

Originally Posted by Machiavelli

So what is Subban going to get?

$8.5M for 8 years.

[Daradon]

Heheh, not just the money, but NMC being worked out? Yikes.

If it is true, we won't have to worry about the slim chance of Burke trying to bring him over, even at that terrible contract. No way DP wants back to Calgary.

[moon]

The Leafs are in a tough spot they can't afford to lose Phaneuf as the defense is bad enough and they have nobody close to being able to replace him. Phaneuf will get that kind of deal if he goes to FA. Not sure with their holes elsewhere and Kessel contract they can afford to give that kind of money to Phaneuf.

[Canada 02]

The cap is likely $80-100M for most of those 7 years. The really great players will be making double digits, while the good ones are in the $6-7M range

This will look like a normal contract in a year

[transplant99]

Yeah....this might actually be a discount of sorts in a couple years as he would clearly have gotten more as a UFA.

Good for him.....good for Flames fans.

[Yoho]

This will saddle the Leafs for a while with his "zone" defence play. Smart guy to look for NMC when the boo birds come out again.

[Daradon]

Originally Posted by Canada 02

The cap is likely $80-100M for most of those 7 years. The really great players will be making double digits, while the good ones are in the $6-7M range

This will look like a normal contract in a year

Well, probably not in a year, but yeah, it'll look more reasonable in a few years.

Still think it's high though, I was thinking about the cap increase in those thoughts. But agree with the sentiment, the Leafs would have to offer that much to keep him and of course, they've got the money. If the cap does go up as much as you predict they will be one of a increasingly small number of teams that can splurge to the cap.

[BurningSteel]

please.........please sign rfn Dion. I have this bad dream where Burke trades Sven and Johnny Hockey for the Dion.

[Fire in the disco]

Dion is in a hurry to get this deal done as ever since 24/7 started filming he thought he wasn't allowed to sleep. Get er done Nonis

[strombad]

And after all that time I spent saying he wasn't worth this kind of money, he goes and gets it anyway.

Where's BigTuna to rub my face in it? I probably deserve it.

[FlamesAllTheWay]

Has improved somewhat since he arrived in Toronto. They can also ill afford to lose him, as already mentioned. Still, one of the most overrated D in the league IMO.

[trublmaker]

Originally Posted by FlamesAllTheWay

Has improved somewhat since he arrived in Toronto. They can also ill afford to lose him, as already mentioned. Still, one of the most overrated D in the league IMO.

anything leaf related is automatically overrated.

[savemedrzaius]

As a Leafs fan it seems like a fair price to me.

Is Phaneuf $1.75m better than Clarkson?

I'd say yes. This is what happens when you give crap players like Clarkson and Bozak the big bucks.