Letang agrees to sign with Pens (8 yrs, $58 million) UPD: Official

[sureLoss]

per RDS

Rob Rossi ‏@RobRossi_Trib 8s #TribHKY -- #Pens and Letang agree to eight year deal worth $58 million -- team had looked at two offers, one shorter term

[MrMastodonFarm]

They'll regret it if it's as huge as the previous rumour.

[PeteLFan]

Rumor is 8 years 7.25 per.

[The Swedish Flame]

So does this definitely mean that there are guys they will have to trade/let go in order to keep within the cap long-term?

[kermitology]

Egad..

[MrMastodonFarm]

Originally Posted by The Swedish Flame

So does this definitely mean that there are guys they will have to trade/let go in order to keep within the cap long-term?

They should try to trade Letang, but who would take him with that anchor of a contract.

[PeteLFan]

That's 25.45 cap charge for 3 players.

[sureLoss]

Pierre LeBrun ‏@Real_ESPNLeBrun 19s Letang and Pens last night were debating two contracts: 4 yrs x $7.5 M or 8 yrs x $7.25 M ..


According to RDS when the new contract kicks in, he will have a NTC where he can name 15 teams that he will accept a trade to.

[Street Pharmacist]

The beginning of the end of a"dynasty"

No way they can keep any sort of team together now. Ship out Malkin?

[McG]

I guess the battle over the $250k per year has been won.

Cap has to keep going up or pens will be in trouble later. I don't mind the limited team list for trades.

[sureLoss]

@capgeek: With Letang re-signing, #Penguins will now be paying seven players a cap total of $44.3M in 2014-15.

[MrMastodonFarm]

I have no idea why the Pens didn't go for the four year deal. The money is an issue but the length of contracts like these is sometimes the anchor.

[Falclore]

Chicago has Kane, Toews, Keith, Sharp at a cap hit of ~$25M. Think I would take those 4 over Crosby, Malkin and Letang right now.

Kane and Toews do become UFAs in 2 years, so they will get a salary bump then.

[Erick Estrada]

Originally Posted by sureLoss

@capgeek: With Letang re-signing, #Penguins will now be paying seven players a cap total of $44.3M in 2014-15.

Dumb. The reason they got rolled over by the Bruins was their lack of depth at the blueline. This ensures that will be an ongoing issue for years to come. Their only hope is the good young defensemen in their system can provide stellar play during their ELC years.

[Cali Panthers Fan]

Letang is not at that level. Ridiculous contract to give him. Offensively talented, but very mediocre defensively.

Cripes, what did Lidstrom make? $7.6 million during his peak years? Why are all these d-men getting similar money at a fraction of the talent level?

[Lanny_McDonald]

The Penguins are going to regret this signing. Too much money and too long a term. Letang will score some points, but he's horrible in his own end. If the Flames did this I would expect pitchforks and torches outside the Flames offices.

[Sylvanfan]

Well the cap should move back up that season. Teams never seem to be in as bad a cap situation as messageboards make them out to be. There will always be scoring wingers willing to sign a cheaper short term contract to skate alongside Crosby or Malkin.

[Table 5]

Well I'm glad we're not the only ones with poor foresight. This already seems like a terrible deal...can't wait to see how the Pens feel about this in 2/3 years. I can't believe teams keep making these crazy long term deals.

[Flames Draft Watcher]

And this from the supposed GM of the year? I think Shero's body of work lately seems pretty bad.

[Street Pharmacist]

Originally Posted by Table 5

Well I'm glad we're not the only ones with poor foresight. This already seems like a terrible deal...can't wait to see how the Pens feel about this in 2/3 years. I can't believe teams keep making these crazy long term deals.

They don't have a choice. Essentially, you're saying you'll deal with the later for a shot at the cup now