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Colorado makes splash, signs Parenteau for four years, $16 million

Jul 1, 2012, 4:24 PM EST

Photo credit: Getty Images | P.A. Parenteau #15 of New York Islanders skates prior to the game against the Florida Panthers. (Oct. 22, 2011) Photo credit: Getty Images | P.A. Parenteau #15 of New York Islanders skates prior to the game against the Florida Panthers. (Oct. 22, 2011)

The Colorado Avalanche have finalized the biggest deal — financially speaking — of the young free agent period, inking ex-Islanders forward P.A. Parenteau to a four-year, $16 million deal.

In keeping with the theme of the day, Parenteau gets a massive raise. The 29-year-old winger has signed six contracts during his NHL career — all of them one-year deals, none of them worth more than $1.25 million.

A former ninth-round pick of the Ducks in 2001, Parenteau came out of nowhere to score 120 points over the last two years, including 67 in 2011-12 (which was more than Brad Richards, Patrick Kane and Alex Ovechkin, to name a few.)

The knock (or concern) about Parenteau is that his offensive spike was tied directly to playing alongside John Tavares on Long Island. To that end, he’ll have no shortage of talented centers to play with in Colorado — Paul Stastny, Matt Duchene and Ryan O’Reilly make for one of the league’s best young collection of centermen and should allow Parenteau to slide up and down the lineup.

Interestingly, the Parenteau contract is very similar to one Colorado gave to another late bloomer, David Jones. The 27-year-old power forward also scored a four-year, $16 million deal after scoring 47 goals over the last two seasons — Jones was originally drafted by Colorado in 2003.

  1. jernster21 - Jul 1, 2012 at 4:35 PM

    Good signing regardless of whether it was an overpayment or not, the Avs desperately needed a top 6 winger so they could quick flip flopping Duchene between wing and center. Hopefully Parenteau and Duchene can find similar chemistry like Parenteau and Tavares had.

    • jernster21 - Jul 1, 2012 at 4:36 PM

      quit, not quick.

  2. pshanks62 - Jul 1, 2012 at 4:39 PM

    He has the makings of a bust, but it could work out…risky though

    • tru2joelu4eva - Jul 1, 2012 at 5:33 PM

      how does he have the makings of a “bust”? his 67 points last seasons would’ve led the avalanche, and matt duchene is just as skilled and capable as john tavares. personally, i think that with duchene being 100% healthy this year and training with crosby (underlined and bolded) in the offseason puts him in a strong position to have a breakout year. with parenteau by his side, they could put up great numbers. and the avs have SO MUCH cap space, they may be overpaying a little, but in my opinion, in this case it was worth it. duchene not having consistent, talented players to play alongside him has kind of been a problem since he was drafted, and it really seems like this is a step in the right direction to solve that problem (of course this is all under the assumption that he’ll be playing with duchene), and that both players stand to benefit greatly from playing with each other….

      • tru2joelu4eva - Jul 1, 2012 at 5:34 PM

        and by leading the avs in scoring i mean by a whopping 17 points

  3. sjsharks66 - Jul 1, 2012 at 4:43 PM

    What a steal for Colorado!

  4. atwatercrushesokoye - Jul 1, 2012 at 5:43 PM

    Lots of big money being spent on middle of the road players*, the NHL needs the new CBA to save the teams from themselves.

    *Not criticizing just one team but seemingly all of them, $4 million for Parenteau, $2.5 million for Prust, my Flames giving up $5.25 million for Wideman…stupid money going around!

    • tru2joelu4eva - Jul 1, 2012 at 5:49 PM

      you have a good point. however, i think this is a move the avs had to make. 5.25 for wideman is ridiculous, but i think 4 mil for a player with the potential to get 60-80 points isn’t that outrageous. they desperately needed a scoring winger, and really he’s pretty low risk compared to say, alex semin, and obviously they aren’t likely to land praise. so, i think really this is kind of a best-case scenario for the team. again, i’d have to emphasize just how much cap space this team has, and how it enables them to make a move like this relatively safely….

      • atwatercrushesokoye - Jul 1, 2012 at 5:57 PM

        Not a criticism of the Avalanche at all, it was a criticism of where the market has gone since 2005. The immediate post lockout cap was $39.2 million and sanity was supposed to have been returned to the market, 7 years later the cap is over $70 million and GMs are tossing money around like rich 16 year old girls.

  5. zaro11 - Jul 1, 2012 at 6:48 PM

    Good signing by the Avs. He will be missed on LI.

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