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Report: Pens to announce massive Crosby contract Sunday (Updated)

Jun 28, 2012, 11:41 AM EDT

Sidney Crosby Getty Images

According to TSN’s Darren Dreger, Ray Shero might follow up his draft day heist by stealing the free agency spotlight as well.

The Pens GM will reportedly announce a new deal for Sidney Crosby on July 1 with what’s believed to be a gigantic contract — worth over $100 million.

UPDATE: ESPN’s Pierre LeBrun tweets the specifics — 12 years, $104.4 million (as per Crosby’s agent, Pat Brisson.) That works out to an average annual value of $8.7 million, the same cap hit Crosby has right now.

Because 8.7 is like 87, which is Crosby’s number, see.

There are currently only two $100 million men in the NHL — Ilya Kovalchuk, who signed a 15-year, $100 million dealback in 2010 and Alex Ovechkin, who inked his groundbreaking 13-year, $124 million deal in 2008.

Crosby would be 36 when the deal expires and, should he spend all of it in Pittsburgh, will (theoretically) be in line to attack many of Mario Lemieux’s franchise marks.

So, what does the deal mean for Pittsburgh’s cap situation?

Crosby’s extension won’t kick in until 2013-14 — he’s got one year left at $8.7 million — and by then, Shero’s biggest free agent decisions will be Tyler Kennedy, Matt Cooke and Pascal Dupuis.

Since none of them figure to break the bank, the Pens look fine financially, thus explaining why they’re angling to (allegedly) make a play on Zach Parise, Ryan Suter…or both.

Related: Lemieux on Crosby contract: “This is a great day for hockey”

  1. mclovinhockey - Jun 28, 2012 at 11:45 AM

    His last deal was close to 9 a year… 8.7… Guess this is at least a 12 year deal since 11 would put him at 99 mill… 12 at 108… Or he is still at 8.7 for 11 years

  2. ballsohardu - Jun 28, 2012 at 11:48 AM

    Dumb!! This guy is so delicate i dont believe he’ll ever play a full season again. One big hit away from retirement. Thats scary

    • miketoasty - Jun 28, 2012 at 12:07 PM

      So remind me what kind of doctor you are, oh and what information have you seen about Crosby’s injury? Inquiring minds would like to know!

      • amerika1313 - Jun 28, 2012 at 12:14 PM

        Sheesh, lay off the guy, man! Why does he have to be a doctor to read all of the same stories that everyone else who has followed hockey over the last couple of seasons has? It’s not like he’s the first one to say that Crosby might be one hit away from the end of his career. Granted, I wouldn’t call Crosby “delicate” necessarily, but his issues with concussions are well-documented. We won’t know whether this was a dumb contract until his career really is completely in the books. To me, it seems like a win-win, but the Pens must have been at least a tiny bit nervous about that kind of money for a guy with problems like Crosby’s had. I wish Sid and the Pens luck, and I hope he gets a chance to see the whole 11 or 12 years through.

      • miketoasty - Jun 28, 2012 at 12:32 PM

        @amerika1313 Except for if you read the articles or stories that everyone else has you would have seen that it was a neck injury that was fixed… Just tired of hearing stupid comments that make no sense at all.

        Also, only the doctors know how serious Crosby’s injury’s really are. I can say that Giroux has a delicate head as well because he had a stint with concussions and there were tons of stories about it, doesn’t make it true though, now does it?

      • sabatimus - Jun 28, 2012 at 1:36 PM

        BAHAHAHAAHA you don’t have to be doctor to see the results and his lack of play due precisely to those results. Bottom line is that you simply DON’T sign a massive injury risk like Crosby to THIS kind of contract. The cap hit alone is reason enough, let alone the concussions and post-concussion syndrome.

  3. lordfletcher - Jun 28, 2012 at 11:48 AM

    Over 9 million I take it… So after that, Malkin and Letang in the near future and a few others (sutter) …. then fill in the holes. Going to be tough to get Parise signed to a mega deal too, we shall see what happens. Sunday fun-day!

    Good for Crosby

    –Wild fan

  4. vokounviolatesvirginvag - Jun 28, 2012 at 11:52 AM

    soup can deserves a lifetime contract so when hes 80 yrs old he can come out of retirement and teach those young wanna be soup cans a lesson.

    • melonheadsdaddy - Jun 28, 2012 at 11:56 AM

      Dont you and your 5 other aliases on pht ever shut the hell up? This guy will be out of the NHL by year 3 of his deal. It’s science.

      • tkovacs2 - Jun 28, 2012 at 12:41 PM

        I’ll take that bet.

        Care to share the “science” with us?

      • theawesomersfranchise - Jun 28, 2012 at 12:44 PM

        Stupid comment
        lol
        “Its science”

      • melonheadsdaddy - Jun 29, 2012 at 10:23 AM

        Sure. One hit to the head. Crosby=pronger. Science. Man I should have gone to doctor school.

    • kitshky - Jun 28, 2012 at 12:06 PM

      So what you’re saying is that you’ll be talking to yourself when you’re 80 years old? …I can see that.

  5. btrenary87 - Jun 28, 2012 at 11:57 AM

    @ballsohardu….you’re an idiot, probably from philly. ANY player is one hit away from retirement. didn’t you notice once they figured out it was a neck problem as well, he was 100% again? please think before you speak.

    • itsallniceonice - Jun 28, 2012 at 12:17 PM

      While I disagree that Crosby is fragile and will never play a full season again, the concussion issues are what I’d believe to be a concern. Sure players could be hit and ruin their knee forcing them into retirement but that isn’t nearly as bad as the career and life affecting post concussion syndrome. Hearing about Savard and Pronger struggling day to day is scary and depressing.

      • napoleonblownapart6887 - Jun 28, 2012 at 12:34 PM

        That’s the only thing that gives me pause about this deal as a Pens fan. A month or three out over the course of a 10 year contract for concussion issues doesn’t worry me, multiple years does.

        The reality is you have to roll the dice every once and a while and when you do you gotta do it with the best. That’s what they’ve done here. They’ll get Malkin locked up next, and then depending on how this and next off-season goes, maybe let Letang walk and use those funds to give a big deal to someone else.

    • solador78 - Jun 28, 2012 at 12:31 PM

      Crosby admitted that he wasn’t 100% in the playoffs, otherwise he would have played in the World Championships.

    • sheckyrimshot - Jun 28, 2012 at 12:55 PM

      ihey man us idiots from philly have plenty of experience with players being one hit away from retirement..

    • mmmpierogi - Jun 28, 2012 at 3:34 PM

      @btrenary87 …

      Given the “ballsohardu” SN, my money would be on Baltimore, not Philly.

      • fbothharbaughs - Jun 28, 2012 at 4:59 PM

        yet another town of also-rans…

  6. purpleguy - Jun 28, 2012 at 12:01 PM

    He’s the best player in the NHL bar none, but that’s alot of guaranteed money to pay a guy whose post-concussion playing future is far from certain.

    • sucram00494 - Jun 28, 2012 at 3:45 PM

      @purpleguy Since u obviously don’t watch a lot of hockey you should know that there is an NHLer named Pavel Datsyuk who can skate circles around crosby.

  7. 1943mrmojorisin1971 - Jun 28, 2012 at 12:04 PM

    $100 million? This guy must be pretty good.

  8. GenoPringles - Jun 28, 2012 at 12:07 PM

    Great news, SIDS bank account is almost as big as his soupcan. 100 million bucks is a STEAL for a guy with this kind of skills. The Soupcan Army is here to stay.

    • melonheadsdaddy - Jun 29, 2012 at 10:26 AM

      Case in point.

  9. capsrockva - Jun 28, 2012 at 12:13 PM

    I don’t think He’ll play out the entire contract because he is injury prone now after the concussions. That being said I personally don’t care for any of the Pens, and I don’t see how Ray Shero could possibly sign all his free agents and try to get others

  10. stakex - Jun 28, 2012 at 12:13 PM

    This is going to play out one of two ways:

    1. Crosby comes back next year, and proves he can still play at the level he did in 2010/2011. In that case, there is little news to be made about the new contract and life goes on as normal.

    2. Crosby comes out next season and struggles to live up to his former self, OR gets hit and suffers another concussion. In that case the Pens might end up looking a little silly or down right foolish for handing out such a big contract to player with aquestion mark hanging over him.

    ——————-

    No one can blame the Pens for taking this risk, but it really would have made more sense to give Crosby a 3 year deal just to make sure hes still the same player and also make sure hes not going to be the modern era Eric Lindros. Just imagine what happens if Crosby suffers another major concussion next season…..

  11. tonyromoisterrible - Jun 28, 2012 at 12:17 PM

    He wont see the end of his contract. Worst 100 million dollars spent since haynesworth.

  12. rockthered1286 - Jun 28, 2012 at 12:20 PM

    As a Caps fan, I’ll admit the dude has skill. I still say hands down Ovechkin is a better all around player and less injury prone obviously.

    That being said, assume Crosby ends up succumbing to the Pronger issues, then what? I’m thinking all of the Pitt fans will be bashing their management for giving a guy such a lucrative contract when he was so frail coming off of 2 concussion plagued seasons.

    And I know a thing or two about those false hopes. I’m also an O’s fan who’s watched Brian Roberts spend more time on the DL than in games for the past 3 years of his big contract. Not fun folks.

    Sidebar: I still like Geno better than Sid. Just saying.

    • danphipps01 - Jun 28, 2012 at 12:33 PM

      Ovechkin is a pure scoring winger who can’t take faceoffs and backchecks so abysmally that his coach benches him the second they gain a lead and leaves him there until either the game ends or the other team ties it. Crosby is the best centre in the game today, a guy who’s capable of racking up eighty assists as easily as he puts up fifty goals, and he serves as a primary penalty killer on his team.

      By all means, do go on. I’d love to hear how Ovechkin is in any remote way an “all-around player.” Crosby plays all zones. Ovechkin plays one.

      • handsofsweed - Jun 28, 2012 at 12:44 PM

        He was talking about golf, dude. You see, rockthered caddies when he’s not blogging. RTR has caddied for both Sid and Ovi, and discovered that Ovi is a better player.

        He must be, at least. RTR is sure as hell not talking about ice hockey.

      • rockthered1286 - Jun 28, 2012 at 1:34 PM

        There’s 3 things Caps fans never forget:
        1. Crosby whining to the refs nonstop. He doesn’t like a call/noncall he whines. Very Tom Brady-esque.
        2. At home 2 years ago, Crosby and Ovi were getting a little chippy on the rink. Crosby didn’t like the check Ovi nailed him with (legal of course). So what does Cindy do? Waits for a dead puck then grabs Ovi by the throat and skates away quickly.
        3. Dodging hits/boards. Now I’m not saying he all together stays away from the boards. I’m saying if he doesn’t have to he will dodge a hit. Yes he is tough considering how much time he spends in the crease, but he’s not a bruiser like you see with Ovi, Geno, Chara, etc.

        And if you can seriously say Ovi has no defense, you clearly have been confusing 8 with 28 for years. Ovi did come into this league with abyssmal D, BUT over the past year he’s picked it up big time. He’s now making fantastic poke checks, my backchecks hard, and can take a guy out the odd man rush. And the reason he doesn’t go out on PK’s is simply because we have better guys out there for that and why not save energy when you can?

        And if you really wanna get into the whole “coach benching him when they get a lead” you’re realyl grasping at straws considering Hunter was an NHL coach for a total of what 40 something games total? BB never benched him…

        So all in all here’s how I see it:
        Ovi plays D. He’s a highlight reel scorer who doesn’t just camp out front and pick up loose change, he has breakaway speed, takes hits, dishes hits, has improved back check, improved passing and has no clear cut #2 (Geno) who would be a #1 on many a team, and can keep the team afloat in his absence. He’s Lebron on the Cavs. He doesn’t have a D Wade or Bosh to compliment his play and make him better. Put Crosby on the Leafs and watch his numbers tank. Put Ovi up there and he’d be consistent. Product of your environment and Ovi is a one man show.

    • mickeyb21 - Jun 28, 2012 at 12:38 PM

      I wouldn’t call him frail after coming back the second time (still not sure if he was okay completely the first time). He put up point at over a point per game pace. That’s all I’m looking for in the future.

      Also, if he gets seriously injured, he can go on LTIR or if it is bad enough, he can retire. The salary would not effect the cap either way. Pens dealt with Mario retiring a couple times. They were still competative a few of those years with Jagr carrying the load. You like Geno so much (I like him as much as Crosby), you know he can carry the team w/o Sid if necessary.

    • claysbar - Jun 28, 2012 at 1:23 PM

      Worst case scenario is he retires, insurance pays his salary and since he signed the deal before 35, it comes of the cap hit.

      • kitshky - Jun 28, 2012 at 10:50 PM

        Finally someone states the obvious, this is a no brainer contract …

        You have the best player in the game you sign him for the same cap hit with a 12 year extension, it’s already been discussed how the last issue was more of a misdiagnosis than a “history of concussion issues”.

        If by some chance, he does get injured and has to retire (a risk every current NHL player faces) … he’s on the LTIR and the hits off the books.

    • jpelle82 - Jun 28, 2012 at 3:58 PM

      hahahahaha better all around player. thanks for the laugh, its been a rough day at work, you just made it not so bad

  13. lostpuppysyndrome - Jun 28, 2012 at 12:27 PM

    Rock on, Cros. Just don’t forget to bring back another gold medal or three for Canada down the road too.

  14. bihler7 - Jun 28, 2012 at 12:28 PM

    Dear Ray Shero,

    Just a home GM with an idea for Sunday and the offseason, check it out…

    Pens sign Suter ($7 mil per), Pens trade Martin (Freeing $5 mil per), Pens sign Parise ($7 mil per)

    Pens go into FA with $14.5 mil free for this year, after above happens will still have $5.5 to sign Niskanen ($2.5 mil), Tangradi ($1 mil), Strait ($1 mil) as they are RFA’s. Despres contract of $840k in NHL next year

    Lineup Next year

    Parise – Sid – Dupuis
    Neal – Malkin – Kunitz
    Kennedy – Sutter – Cooke
    Adams – Vitale – Jeffrey/Tangradi

    Letang – Suter
    Orpik – Niskanen
    Engelland – Despres

    Fleury
    Vokoun

    Call me if you need me Ray

    • nhmac - Jun 28, 2012 at 12:50 PM

      anyone else find this post absolutely absurd?

      • bihler7 - Jun 28, 2012 at 12:51 PM

        how so?

      • napoleonblownapart6887 - Jun 28, 2012 at 12:58 PM

        As a Pens fan and couch GM I like your attitude… but Suter and Parise signing for 7mil is a pipe dream. Also you act like trading Paul Martin and his $5m contract is going to be easy.

        How about one of the following:
        – Sign Suter, Parenteau, Sullivan, and Niskanen
        – Sign Parise, Sullivan, Niskanen, stand pat on the defense and hope Despres, Strait, and Morrow are as good as advertised.
        – Sign neither Suter nor Parise, sign Parentau and/or Doan, and sign a vet dman

        All of these are more likely (sadly) that what you posited.

      • bihler7 - Jun 28, 2012 at 1:07 PM

        trading Paul Martin would not be hard, it may not happen right away, but look at the amount of quality free agents this year that teams can throw big money at and then look at the amount of money some teams need to spend to get to the floor, there is noone to spend money on outside of maybe 5-7 players…

        i do not think that $7mil a year for Parise or Suter is all too bad…

        you do bring up good scenarios however i really hope steve sullivan is not coming back, it is the reason why michalek has already been traded and i hope martin is traded, which is you need to hit someone and play in the corners in the NHL, neither of those 3 do that…

      • rockthered1286 - Jun 28, 2012 at 1:19 PM

        Parise will go the highest bidder, which to me looks more like a $9mil cap hit than $7. If $7mil ends up being his best offer, something is wrong with the perception of his ability. Suter I think will be closer to $7.5-8mil at most. So at minimum IF you get both you’re looking at about $16-17mil. Plus Crosby’s $9ish puts you at $25mil for those 3. Not a Pens fan (at all) but I wouldn’t be surprised to see Suter go there. Not so much Parise. I still think he ends up either in Detroit or DC following Oates. Clearly the Pens can restock with the best of them, there’s no denying that. Just don’t expect to see players taking discounts for the possibility of a Cup when they can get more money elsewhere (Parise-Detroit) and still have the same odds.

    • melonheadsdaddy - Jun 29, 2012 at 10:28 AM

      Your goalie still blows.

    • russo47 - Jun 30, 2012 at 1:01 AM

      *Orpik-Morrow

  15. pmac26 - Jun 28, 2012 at 12:35 PM

    Ok reality check folks… If Crosby were to be hit suffer another concussion and be forced to retire THE PENS ARE OFF THE HOOK!!!!!! No contract is guaranteed for a player who is retired The Pens would owe Crosby nothing and the contract would not count against the salary cap.

    • pmac26 - Jun 28, 2012 at 12:42 PM

      And with the update that just posted the cap hit stays at $8.7M per year so it doesn’t change the Pens cap situation 1 cent!!!!!!!!

      • handsofsweed - Jun 28, 2012 at 12:53 PM

        That is freaking huge.

    • supercoop8 - Jun 28, 2012 at 1:10 PM

      He wouldn’t have to retire genius he would go one Long Term Injured Reserve every year and still have to be paid, though the money wouldn’t be counted against the CAP. Reality check.

      • pmac26 - Jun 28, 2012 at 1:15 PM

        No team would permit that jackass! He would either have to get medical clearance to play or retire

      • claysbar - Jun 28, 2012 at 1:28 PM

        He signed the deal before he was 35. He can retire at any time without negatively effecting the cap. This isn’t the Pronger situation where he has to be medically denied to play every year for the Flyers to be eligible for the cap relief of LTIR.

      • supercoop8 - Jun 28, 2012 at 1:53 PM

        @pmac… Marc Savard and others have been paid years after it was apparent they would never lace them up again. But whatever you want to believe is keen.

  16. blueblood86 - Jun 28, 2012 at 12:40 PM

    RIP OFF!!!!

  17. theawesomersfranchise - Jun 28, 2012 at 12:51 PM

    Sure are a lot of doctors here and multi millionaires to boot.

    Lets see…… multi Millionaire who has the most information about the situation is willing to invest 100 million.
    Yup he must be a stupid multi millionaire, because you know, stupid people are constantly making millions and owning franchises.

    Ohhh and all the PHD’s here is impressive, tell me, when you examined Crosby where on the charts did it say “1 hit away”
    Seriously, I would LOVE for ANYONE to link a report that says “one hit away”
    I know I won’t get a single link because there are none, because no doctor ever suggested it.

    Doesn’t stop jealous lil boys (which most of you are) silly lil pathetic boys who were waiting in the wings to say stupid lil boy things on the internet.

    Common and Predictable, nothing special about yas other than you all sharing the same personality disorder and medication.

    • handsofsweed - Jun 28, 2012 at 12:55 PM

      OH SNAP!!!!!

      (You’re right, though).

    • melonheadsdaddy - Jun 29, 2012 at 10:31 AM

      All the PHDs on here “are” impressive…

  18. zaksyuk - Jun 28, 2012 at 12:55 PM

    Yes crosby is “delicate”, however do you expect the penguins to throw a 2 year deal at him just in case? Hell NO !

  19. drewsylvania - Jun 28, 2012 at 1:05 PM

    Albatross from the moment it’s signed.

    • handsofsweed - Jun 28, 2012 at 3:11 PM

      I don’t know. Sounds like a penguin, at least from the moment it is signed.

  20. sjsharks66 - Jun 28, 2012 at 1:11 PM

    PENS ALERT: Pens Agree To Terms With Sidney Crosby On 12-Year, $104.4 Million Contract Extension.

    • drewsylvania - Jun 28, 2012 at 1:29 PM

      I guess you didn’t read the post before posting.

  21. chiadam - Jun 28, 2012 at 1:31 PM

    And with that. there goes any chance of the season starting on time. After all the revenue splits, cap floors, cap ceilings, revenue sharing (hopefully), Olympics, safety and player discipline issues are collectively bargained, the league will still HATE contracts like this. Its very nature is to skirt the salary cap. The league hated the Hossa deal, hated the Kovalchuk deal, hated the Keith deal, hated the Ovechkin deal, and tried to void several of them. The only difference is those ones did not come two months before the CBA expires.

  22. dallasstars9 - Jun 28, 2012 at 3:29 PM

    Great for fans, but business is business. He needs to prove he can play again long term before signing a long term deal.

  23. Chris Ross - Jun 28, 2012 at 3:47 PM

    Definitely a surprise to see this contract extension today. But I guess this was bound to happen sooner or later and the Penguins didn’t want to leave their superstar unsigned. Who knows, maybe he goes the next 12 years without having an issue with his head. That would be ideal and the best for hockey. Good luck to Crosby and the Penguins because the NHL needs it.

    http://chrisross91.wordpress.com/2012/06/28/handcuffed/

  24. mnhockey24 - Jun 28, 2012 at 4:50 PM

    did crosby ever have a concussion i thought it was a fractured neck bone that gave him concussion like symptoms

  25. hockeyfan1701 - Jun 28, 2012 at 6:47 PM

    Hey rockthered1286, only thing I remember about Crosby VS Ovechkin is when all the marbles were on the line for game 7 in 2009 Ovechkin forgot to show up……

  26. jb8383 - Jun 29, 2012 at 11:11 AM

    Can someone please explain why this contract didn’t get penalized and why the Kovy contract did?

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