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Report: Penguins close to signing Letang for eight years, $58M

Jun 30, 2013, 11:00 AM EDT

dekeletangetty Getty Images

The Pittsburgh Penguins and Kris Letang agreed to what is expected to be an eight-year, $58 million contract on Sunday, according to RDS’ Renaud Lavoie. ESPN’s Pierre LeBrun notes that it isn’t official yet, though.

The potential pact carries a salary cap hit of $7.25 million. Much like Evgeni Malkin, his deal will expire after the 2021-22 season.

The deal includes a limited no-trade clause. He can list up to 15 teams he’d accept a trade to (perhaps the Toronto Maple Leafs are on that list?).

This comes on the heels of news that the team took a “step forward” in its talks with the 26-year-old defenseman’s agent on Saturday night. That step now looks more like a giant leap.

Earlier this week, it was reported that Letang turned down an eight-year, $54 million offer. Apparently he wanted a deal that echoes his jersey number like Sidney Crosby‘s?

ESPN’s Pierre LeBrun reports that the Penguins chose this eight-year deal at $7.25 million per campaign over a four-year one that would pay an average of $7.5 million in each season.

Pens GM Ray Shero answered his biggest remaining question, yet he faces several significant ones, including the big picture issue of how he’ll surround such an expensive core with supporting talent. Starting in the 2014-15 season, the combined cap hit for Malkin, Crosby and Letang will be a whopping $25.45 million.

Taking Letang out of the trading mix would also substantially increase the value of potential bargaining chip defensemen on draft day.

  1. cheesesteak75 - Jun 30, 2013 at 11:02 AM

    I guess the rest of the unsigned players will play for a six pack and a bag of pucks.

    • burgh916 - Jun 30, 2013 at 12:18 PM

      But he’s sooooooooooooooooooooooo gooooooodddddd!! He’s so fast don’t you get it! That alone makes 7 mil! /s
      This absolutely pisses me off, what happens to all that great talent in the system? What happens if they turn out to be AMAZING but when the time comes you can’t give them their DESERVED raise because of this moronic decision? Hopefully he just laid out the contract for another team he ships him to at the draft, pathetic.

      • ucaneverscorenoughgoals - Jun 30, 2013 at 12:23 PM

        Or hopefully he moves Paul Martin 5 million dollar overpaid contract. He is sooooo good! You don’t just trade away 26 yr old Norris trophy canidates.

        C’mon Burgh, we all know they need to rebuild the defense but trading a 26 yr old guy with God given hockey sense and creativity and resting your hoping in 32 yr old Brooks Orpick, 32 yr old Paul Martin, and inconsistent Simone Despres is insanity.

      • burgh916 - Jun 30, 2013 at 12:29 PM

        The entire team isn’t formed around a winger on defense, although they try to with the insane amount of O Byslma drips from his teeth. What’s his god given gift? He moves fast? Last I recall he misses the net 75% of the time. His gift to pass to Crosby/Malkin to collect assists? His gift to turn the puck over an insane amount of time? (Malkin too.) We don’t need to overpay people that are subpar IMO. We COULD rely on Orpik, Martin, and everyone else, know why? We have people that are most likely better on BOTH sides on the ice than Letang sitting in the wings waiting to come up. But, when they play their asses off for that big pay they won’t get it, because of this move.

      • quips007quips007 - Jun 30, 2013 at 1:02 PM

        The only moronic decision is to let you comment on this site….A 26 year old defenseman with Letang’s skills…..you DO NOT give away………He is a special player with amazing skills……you KEEP that type of player…Maybe if the greatest player in the world could have picked up at least a point in the Boston series…but no ones crying over the money he makes…How bout Neal’s contract?…no tears over that…….The Pens would be WEAKER if Letang goes……period….Only a moron would not know that…..Wait….I AM dealing with a moron…..

      • burgh916 - Jun 30, 2013 at 1:06 PM

        To the contrary, a 26 yr old player that is lost in his own end is not a defenseman and does not warrant 7 million a year, you sir, are the true moron. Yes, Crosby didn’t pick up a point in the Boston series. How much of that is on them, and not Bylsma’s system? Did you see the turnovers Letang, Malkin (and yes sometimes Crosby but rarely compared to those two.) did that series as well? Hmmm… Open your eyes buttercup.
        I don’t agree with Neals contract, in fact I think the coaching change would have made everyone better, but since it isn’t I’ll be critical because nothing will change and THEIR bad habits will continue. Letang is NOT a franchise player, don’t pay him like one. Simple. Moron.

      • drone501 - Jun 30, 2013 at 1:34 PM

        i hope and pray your right. hell, they may even let me play wing and i can’t skate. too much money tied up in 3 players. maybe they trade maf for a goalie who rises to the occasion.

    • ucaneverscorenoughgoals - Jun 30, 2013 at 12:19 PM

      Half of the unsigned players are only worth a bag of pucks:

      Tyler Kennedy is worth 5 pucks
      Jeffery is worth 4
      Murray is worth 8
      Eaton – maybe 12
      Morrow – maybe 6 or 7

      Dupuis is worth 4-5 million but I’m not paying 34 yr old penalty killer 5 million in three years when he isn’t fast anymore.

      Iginla won’t except less than 4.5 so that took the penguins out of the race for hime way before the Letang contract.

      Adam’s is worth bringing back at 750,000 but not more. He’s 35

      If I’m not signing Dupuis, I’m making a play for Scuderi now while we wait for all the young1st and 2nd round guys to find spots.

      • burgh916 - Jun 30, 2013 at 12:22 PM

        Although I agree with pretty much everything you said… Dupuis is STILL extremely fast… He’s earned a big raise no matter his age, I hate how they hand out contracts just for namesake rather than actual performance around here. Letang should be shopped, absolutely ridiculous.

        BTW – TK makes 2 mil on the cap hit, pathetic right?

      • ucaneverscorenoughgoals - Jun 30, 2013 at 12:28 PM

        I agree you have to hand out money for perfromance so TK’s 2 million is idiotic.

        BUT, I’m not willing to put money into a lot of guys in their 30’s when history tells me all players slow down and production drops at age 32.

        The kunitz extension is understandle because I’m willing to pay a 33 yr old that can give me 25 to 30 goals a year 3.85. That’s a bargain.

        But Martin’s contract is a problem for d-man with no physical edge. And I love Orpick but his body is going to break down in the next three years.

        Letang’s issues can be fixed by watching video and practicing. You simply can’t teach or practice what God gave him in terms of hockey sense and creativity

      • burgh916 - Jun 30, 2013 at 12:37 PM

        I don’t like to throw “God giving” to people. I like to call it years of hard work and sweat. But I digress.
        The bigger problem here is Bylsma. Letang was way more complete with a different system, Bylsma promotes pinching in below the other teams goal line. But they extended him. ALL of this teams bad habits could have been corrected with a different coach, but now we’ll have to settle for the same, unless he gets a wake up call, which I doubt.

      • proudlyfrenchcanadian - Jun 30, 2013 at 12:52 PM

        I’ve got to hand it to you burgh, you thumbs up the hell out of your own comments immediately after posting them. You get an A+ for being persistent and have earned my thumbs up, sir.

      • ucaneverscorenoughgoals - Jun 30, 2013 at 12:57 PM

        I’m all for years of hard work and sweat but Matt Niskanen could work his butt off for the next decade and he still never ever have the hockey sense and creativity that Letang has.

        I have no problem acknowedging God given ability when it exists.

  2. trick9 - Jun 30, 2013 at 11:05 AM

    Now their #1 PP unit only cost 35m overally.

    • drone501 - Jun 30, 2013 at 1:43 PM

      thanks canadian frenchy thats bhow we do it here in pittsburgh, the sports capital of the world.

      • billsboy88 - Jun 30, 2013 at 2:15 PM

        unless you like the NBA…

      • tuberippin - Jun 30, 2013 at 5:28 PM

        LOL sports capital of the world. That’s cute.

    • chanceoffleury1 - Jun 30, 2013 at 1:49 PM

      I wonder if $36 million would have bought us a goal in the conference finals? :/

  3. whiskytango333 - Jun 30, 2013 at 11:17 AM

    Hate this deal. I normally sing the praises of King Shero, but he overpaid for Letang. That’s ALOT of cap space tied up in three players.

    • ethanmacleod1685 - Jun 30, 2013 at 11:28 AM

      Totally agree, however, players like Letang are rare and unless you wana risk him walking in the future?

      • ethanmacleod1685 - Jun 30, 2013 at 11:47 AM

        I’m saying he’s obviously a player that cares more about money than what team he plays for so do you wana take that risk?

    • isithockeyseasonyet - Jun 30, 2013 at 12:18 PM

      King shero? Did you miss the part where the pens won 17 (I think that’s the number?) straight games, shook up the roster and then were barely competitive against the team that didn’t even win the cup? My intentions are not to ‘troll’ but I can’t understand why pens fans are so in love with shero

      • chanceoffleury1 - Jun 30, 2013 at 2:47 PM

        Because Shero gave them the pieces they needed. He can’t help it if every star player he signed decides to crap the bed when it matters most. He can’t force Bylsma to adjust his system. He can’t make Letang stop driving in deep for pucks and just sit his a** on the blueline. He can’t get Iggy or Morrow to actually look like they’ve played in the NHL before. He can’t get Fleury to stop being such a headcase. That is on those players. Those guys, at the level they SHOULD be at, are worth their contracts or the picks/prospects we sacrificed for them. Letang has the ability to play defense like Suter, and offense like Karlsson. Crosby and Malkin can easily be the best two players in the world any time they feel like it. It’s on nobody but them to live up to their contracts. When their agents sat there and demanded these huge numbers, I’m sure Shero made it clear there were some major expectations. Idk, I but the Pens playoff failure on the players more than I put it on Shero.

    • jpelle82 - Jun 30, 2013 at 12:19 PM

      letang’s an a-hole for forcing this counter offer for 4 million more. i still hope they trade him today

    • burgh916 - Jun 30, 2013 at 12:46 PM

      Shero is really aggravating me lately with stupid financial moves regarding some players/coaches. We BETTER trade up today, I can’t see us sitting around until the 77th pick.

      • drone501 - Jun 30, 2013 at 1:44 PM

        77 th pick may get you a zamboni driver

      • burgh916 - Jun 30, 2013 at 1:46 PM

        Agreed hahah, which may get more than the 2 mil cap hit Kennedy gets at this point.

      • killerpgh - Jun 30, 2013 at 2:41 PM

        Letang was drafted in the 3rd round.

  4. ucaneverscorenoughgoals - Jun 30, 2013 at 11:19 AM

    None of the unsigned players other than Dupuis, Iginla and Adams are worth more than a bag of pucks.

    Dupuis wants 5 million and at age 34, giving him that is a bad idea. The idea should be to resign players at values that will reflect their worth now and in the future. Rewarding players for past performance is bad business practice.

  5. blackhawks2010 - Jun 30, 2013 at 11:19 AM

    Pens have no money left and several players with contracts up, who goes first?

    • enollatsknarf - Jun 30, 2013 at 11:59 AM

      The rest of the roster will be filled with non-union migrant workers (mostly from eastern europe).

      • billsboy88 - Jun 30, 2013 at 2:19 PM

        You mean Geno’s extended family?

  6. killerpgh - Jun 30, 2013 at 11:21 AM

    A little higher than I hoped for, but still glad Letang is a member of the Penguins. And with “only” a 15 team no trade clause there is still a chance to move him if the need arises and his trade value could be maximized since he is locked up long term.

    • killerpgh - Jun 30, 2013 at 11:25 AM

      And Letang has Zero NTC/NMC until July 1st of next season. So in theory Shero could ship him wherever he was before June 30th, 2014.

    • stakex - Jun 30, 2013 at 12:31 PM

      Yeah good luck with that one. Letang isn’t worth that kind of money, and if it gets to the point the Pens want to dump him…. no one else is going to take him. The Pens are stuck with him for the better part of the next decade.

  7. dayno66 - Jun 30, 2013 at 11:24 AM

    Nooooooo!!!!

  8. martysbetter - Jun 30, 2013 at 11:26 AM

    It’s not just Letang, Crosby, Malkin that carry heavy cap hits – Martin, Neal, and MAF are at $5M each as well.

    So that’s $40.45M on 6 Players….wow.

    • stakex - Jun 30, 2013 at 12:32 PM

      Wow indeed.

    • killerpgh - Jun 30, 2013 at 3:30 PM

      The Blackhawks just won the Stanley Cup paying 6 players 35+ million.

  9. sergeikremlin - Jun 30, 2013 at 11:29 AM

    Not surprised. They will make it work with the rest of the line-up.

  10. mypostyinzerperiod - Jun 30, 2013 at 11:42 AM

    So, the Pens are overpaying for Fleury, overpaying for Martin and now overpaying for Letang. Big money for exceptional talents like Crosby and Malkin is one thing, but this is starting to feel like the big-money-for-everyone days of Howard Baldwin, and those days didn’t end well. Here’s hoping that Shero continues to prove me wrong.

  11. valarmorghuliss - Jun 30, 2013 at 11:44 AM

    Well there goes that idea

    – The rest of the league

  12. packerswin96 - Jun 30, 2013 at 11:44 AM

    Unbelievable! Shero has lost his freaking mind!

  13. hazlydose - Jun 30, 2013 at 11:46 AM

    Pens have 44.3M tied up in 7 players for 2014-2015. They will never win a cup without the depth that Letang’s money could have went to.

    • valarmorghuliss - Jun 30, 2013 at 12:48 PM

      “The Blackhawks are SCREWED now, they are in cap hell, goodbye depth”

      – Many people with very short memories (can’t remember 3 seasons ago)

  14. pdmjr - Jun 30, 2013 at 11:46 AM

    Great news, Letang’s trade value now is sky high

  15. ryanw822 - Jun 30, 2013 at 11:46 AM

    So the Pens are going to load up on just 5 players and see if those 5 can lead them to the Cup?

    Well that way of thinking certainly worked for me back on NHL 95 when I turned the fatigue option off.

  16. valarmorghuliss - Jun 30, 2013 at 11:48 AM

    I do get a kick out of all these people talking about the Pens cap. As long as they are under next year, they are fine. You see, year to year decisions can be made. A trade can happen in the future. I WISH they didn’t resign him and traded him to my favorite team, but it sounds like that isn’t happening. But you Pen haters are quite laughable. Doom and gloom for the Pens because they kept a player we all wanted for our own team. LOL. Get real. They will be under cap for the next season, and keep dealing with it on a yearly basis. If they Pens (Fleury) craps out again, he will be gone, freeing up room for others.

    • theageofquarrel - Jun 30, 2013 at 11:56 AM

      +1
      Couldn’t have said it better myself.
      Like the commenter who said it feels like the Baldwin era again. Yeah,like Lemieux wants to re-live that all over again. Baldwin and Marino is the reason Mario and Ron own this team now. I think they all know what they are doing.

      • valarmorghuliss - Jun 30, 2013 at 12:42 PM

        Oh I know, it’s the same mentality people had about the Redskins for years. “Cap hell” and blah blah blah. The Blackhawks were facing cap hell. They won the Cup, and 2 years later won it again.

        Some people just feel the need to predict the end of the world for a team because they wanted that player and dislike the team that has him.

      • valarmorghuliss - Jun 30, 2013 at 12:44 PM

        The Blackhawks kept their core, traded others and let some walk. How have they done lately? Please remind me.

  17. burgh916 - Jun 30, 2013 at 11:50 AM

    Whyyyyyyy!!!! Wow freakin pathetic. I’ve boiled it down to Pens fans are content. Content with mediocrity. Content with underwhelming performances. Not all of us are, but there’s plenty. On Facebook alone it boggles my kind how many people support players/people that constantly underperform. I may not like Philly or any others like them, BUT one thing I admire is they castrate players/coaches that are consistently playing bad, and know what happens? They get moved. People need to stop settling for mediocrity and voice their displeasure for failure, and we wouldn’t be in this terrible boat.
    “It’s okay guys we’ll get them next time!” Cut that sh*t out.

    • burgh916 - Jun 30, 2013 at 11:58 AM

      My mind* auto text ftw

  18. pone27 - Jun 30, 2013 at 11:51 AM

    Overpaid for Letang, IMO.

    Guys like him, and Karlsson and Green are one dimensional players. All offense, nothing spectacular on defense.

    7.25 mil??? Id give him at most 6.5. These guys are getting way too big of paydays, and in turn, their teams won’t be a deep or well rounded for the future.

    • barkinatbirdsinseattle - Jun 30, 2013 at 12:16 PM

      You’ve never seen him actually play, I guess. Can’t understand why people comment on stuff they don’t/can’t comprehend. Go to y.t. Watch him come from behind to always catch “whomever”, and cause more non-goals/least PIM’s. If you actually watch him, w/ an open mind, I think you’ll agree. :)

  19. 19to77 - Jun 30, 2013 at 12:03 PM

    Welcome to free agency, Pascal Dupuis.

    • letsgopens8771 - Jun 30, 2013 at 12:45 PM

      Yep. This is my apology to that Islander fan who said Dupuis could be an Islander next year.

  20. redridershoottheireyeout - Jun 30, 2013 at 12:09 PM

    this proves that the lockout was indeed an exercise of futility and that no matter the salary cap that GM’s will always find ways to circumvent that ceiling number any way possible.

  21. barkinatbirdsinseattle - Jun 30, 2013 at 12:10 PM

    SOOO HAPPY 4 my favorite player! He will restructure his $ around to make it work for the rest of the team. He is an unselfish leader. I would so much rather have him than Crosby any day. (To me) The best D man around. Since being on a team w/ so many offensive talent, I think he gets over-shadowed in awards voting. But there is NO doubt in my mind that he was robbed in the voting for the Norris trophy, this season (although only a half) to P.K. Subban. ~~~SHUDDER~~~ Anyways. I know PENS haters will talk smack, & that’s o.k.-as I’m used to roster envy. But CONGRATS, Kris! Here’s to a few more years in the great black & gold.

    • burgh916 - Jun 30, 2013 at 12:14 PM

      You sound like the real Pens hater. Letang > Crosby? Wtf? Can’t tell if troll or serious.
      Anyways, Pens hater because you’re not thinking of the entire team here, in fact I think you’d be one of those “fans” who would automatically like a team Letang got moved to, and completely forget about the Pens. Dumb move, for MANY reasons.

      • barkinatbirdsinseattle - Jun 30, 2013 at 12:20 PM

        Am serious. Don’t need Crosby. Period. Always hurt. And could get so much for him. Geno is far and above him in every way. And since Letang (again, to me) is the best D man, period, I’d trade Crosby, instead. Less $ too. Troll? Don’t be stupid.

    • whiskytango333 - Jun 30, 2013 at 12:18 PM

      I stopped reading when you said you would rather have Letang than Crosby. Your credibilty, ay that point, evaporated.

    • burgh916 - Jun 30, 2013 at 12:25 PM

      Lol. Don’t need Crosby. Do you forget when Malkin and Letang were out this year, he single handily took the team over on the streak huh? You can’t even fault Crosby’s injury this season. It had nothing to do with a concussion and more to do with a slapshot to the mouth/jaw, you can’t control that. Best D man, that’s cute. You mean best winger thats on D? I find your teenage crush on Letang entertaining however.

      • barkinatbirdsinseattle - Jun 30, 2013 at 12:38 PM

        No, Crosby is always hurt, as in every year. Uh, Letang albeit hurt, STILL led in +/-. & led the team in scoring in the playoffs, so… HA HA! All this, cause I’m happy for my guy. What a bunch of nothing better to do losers, but try to rain on his parade, while your player/teams must suck, or else you wouldn’t be here putting down people’s opinions. Go to church if your bored on Sunday’s w/ no sports to watch. Go outside. Throw a ball around. Go hiking. A b ook maybe? If they have pics in them, I’m sure you’d all have a great drool. Oh well. Trash on. I’ve got other things to do, than school you all on things. Have a GREAT day, or whatever. LOL! Make those comments good for all to read, but have fun doing it behind my back/while I’m not here, CHUMPS! HA HA!

      • burgh916 - Jun 30, 2013 at 12:42 PM

        http://cdn.meme.li/instances/400x/35440994.jpg

  22. chazxcore - Jun 30, 2013 at 12:11 PM

    Next year they have 8 players signed with only 19 million in cap space available to sign 15 players which average out to about $790,000 per player. Sounds like they are going to have to rely on a ton of young and extremely old players. If they amnesty Paul Martin it increases the average to 1.625 million per player.

    • 19to77 - Jun 30, 2013 at 12:18 PM

      Or they could just, you know, trade him. It’s not like Martin wasn’t a top-3 defenseman on their team or anything. Why buy out a guy you can find a deal for? Beats paying him to play elsewhere.

    • valarmorghuliss - Jun 30, 2013 at 12:46 PM

      Cool story, heard it before, the Chicago Blackhawks 3 years ago. How did they do by retaining their core group of players?

  23. barkinatbirdsinseattle - Jun 30, 2013 at 12:28 PM

    To those who DON’T get it. He will restructure his contract/take less $ in the future, as “most” class players do, to help the team. Any ways, as I knew, people would talk stupid smack, because I’m happy for my guy. LOL! No fans here (PENS) but me. Let me guess, your all life-long Chicago fans,huh? Just like you were fans of L.A. last year. Posers. Ha….

    • burgh916 - Jun 30, 2013 at 12:32 PM

      Looks like you got smacked with the stupid stick and hit every branch on the way down.

      Restructure his contract? Riiiight… He didn’t take less pay to BEGIN WITH. I’m done with you troll… Ugh.

    • hazlydose - Jun 30, 2013 at 12:36 PM

      You can’t restructure contracts in the NHL moron

    • stakex - Jun 30, 2013 at 12:51 PM

      NHL players can’t restructure their contracts. Don’t you think Luongo would have done that by now if he could? Letang will be costing the Pens a $7.25 million cap his for almost a decade and theres nothing that can be done about it.

      As a Pens fan you should actually hate this. Letang is no corner stone of the Pens team, and now they have virtually no money to improve the team from what it was last season. Before you tell me how great they were, I will remind you they were embarrassed in the playoffs for the 3rd strait year…. that doesn’t happen to great teams.

  24. hockeyflow33 - Jun 30, 2013 at 12:33 PM

    Hahahahaha

  25. mrpinkca - Jun 30, 2013 at 12:37 PM

    Better hope the big names can get it done, because their going to be scouting beer leagues to get the other 18 players under the cap…

    • valarmorghuliss - Jun 30, 2013 at 12:45 PM

      Just like the Blackhawks 3 years ago right?

  26. drewsylvania - Jun 30, 2013 at 12:40 PM

    Doesn’t there have to be a big trade coming?

    If no moves are made for a goalie or another defenseman, I can’t see how the Pens will be any better than they were this year–at best.

    • mordock57 - Jun 30, 2013 at 6:29 PM

      You mean… Best record in the conference and widely expected to make the Cup Finals again? I’m sorry, did the Pens NOT have the second longest win streak in history? Did they NOT make the Conference Finals? I must be missing something… How much better do they need to be, exactly? People sure have some ridiculous notions of success around here.

      • drewsylvania - Jun 30, 2013 at 8:42 PM

        News flash–they didn’t make the Cup Finals this year. Also, hockey teams that compete in the Finals don’t care about regular-season performance.

        Even Pens fans had to see that the defense and goaltending were issues going into the playoffs. You play to win the Cup, not be the best regular-season team. And the playoffs are played differently than the regular-season. You need good defense and a goalie that can steal games.

        The Pens had neither this past year, and they still have neither now.

  27. stakex - Jun 30, 2013 at 1:04 PM

    This “can’t let the stars walk” policy that Shero has employed with the exception of Staal (who they were better off keeping then Letang) is going to cost him his job in the not too distant future. The Pens now have $19 million in free cap space for the 2014-15 season and still have to sign 14 more players…. *mind blown*.

    You might be able to ride the stars to the playoffs against weaker teams, but the lack of depth will bite you in the ass in the playoffs. This is a problem the Pens have already had the last two years, and its going to be far worse in the future. Those 14 players the Pens have to acquire for less then $20 million will play more minutes as a whole then the 8 they are paying $46 million to…. that should scare Pens fans like there’s no tomorrow.

  28. ironman721 - Jun 30, 2013 at 1:06 PM

    Wow! I think this is a bad move. Should have traded him and built around Malkin and Crosby. But I guess that’s why I’m not a GM.

  29. steelerspitt7 - Jun 30, 2013 at 1:11 PM

    BOO,! Not worth that amount, but I guess if you cry enough Shero will get you signed. You just lost a lot of talented players because of one so called defensemen!

  30. phillyphever - Jun 30, 2013 at 1:17 PM

    I don’t get one thing: why wouldn’t they just use both of their amensty buyouts on Fluery and Martin? That would save them a lot of headaches on their cap. Also, for those who forget, Chicago got a gift in their cap situation when Tallon did them a favor and took Campbell’s contract off their hands. Unless Pittsburgh can someone desperate to get to the cap floor to take a bad contract, good luck Shero filling up the roster.

    BTW, before I get hit with a massive amount of thumbs downs, at least you guys over there don’t have to deal with the mess Philly has with Homer. Ugh, sometimes I wish I knew what was in his mind when he signed Streit to that horrible contract.

    • whiskytango333 - Jun 30, 2013 at 2:42 PM

      …not to mention that he’s sweet on Lecalvier…another guy well past his prime. Holm green leaves me scratching my head more times than not. How he still has his job is a big mystery.

      • whiskytango333 - Jun 30, 2013 at 2:44 PM

        Holmgren…stupid autocorrect

  31. drone501 - Jun 30, 2013 at 1:48 PM

    this thread is old news. he’s signed. florio better get new hockey beat writer like mark madden

  32. drewsylvania - Jun 30, 2013 at 1:52 PM

    To the people who like this signing: What will the Pens do next? How will they improve on last year’s team?

  33. paulhart28 - Jun 30, 2013 at 2:09 PM

    @barkinatbirdsinseattle the idea to trade crosby for cap space is the stupidest thing I have ever heard.

  34. shanesander - Jun 30, 2013 at 2:10 PM

    how does he make more than Karlsson’s $6.5M?

  35. erniecohen - Jun 30, 2013 at 2:32 PM

    I don’t know whether I like this signing given the PIT cap situation, but to put things in perspective, if you trust GVT as an accurate measure of value, Letang is the most valuable defenseman in the NHL over the last three years – even more so if you consider per-game value:

    Player 2012-13 2-11-12 2010-11 2010-13

    Letang 15.0/35 11.4/51 13.5/67 39.9/153
    Chara 10.3/48 18.0/79 7.6/65 35.9/192
    Subban 16.6/42 9.8/81 5.6/61 32.0/184
    Sutter 13.2/48 12.0/79 9.3/54 34.5/181

    Of course Subban is more likely to improve, but the point is that if any D-man is worth this kind of money to PIT, it’s Letang. Of course betting that he’s going to keep this up over nine years is a bit of a risk. On the other hand, in that time, the cap should go up, making him relatively cheaper with time.

    Another way to look at it: Martin this year provided 10.2 GVT for $5M, Scuderi 5.7 for $3.4M. So combine Letang with a $1.2M D-man, and you’re getting approximately equal value (or slightly better).

  36. paulhart28 - Jun 30, 2013 at 2:52 PM

    Tyler Kenedy traded for the 50th overall pick

  37. c9castine - Jun 30, 2013 at 3:05 PM

    im really glad most of you aren’t the general manager of the pittsburgh penguins. i think most people forget that letang’s cap hit next year will still be 3.5 and the salary cap will go up an estimated 3-6 million after that. factor in little trades like kennedy for a 2nd round pick that eliminates a couple million in salary and you start to realize these guys in charge know what they are doing, you don’t. if you want to doubt letang’s abilities you have seperate issues. 80 points and a +37 in 87 games over the last two seasons? yeah he sucks.

    • drewsylvania - Jun 30, 2013 at 8:54 PM

      Trading Kennedy didn’t eliminate salary. He wasn’t under contract for 2013-2014. And just about everyone who’s under contract for 2013-14 who isn’t signed-long term is a free agent after that season. Sure, a lot can happen in a year, but that’s a huge number of slots to fill.

      Can the Pens fill all those slots with prospects and cheap veterans, and still be good enough to reach the Finals? I have my doubts. Especially since they don’t have a Cup-caliber goalie, still.

  38. redsox711 - Jun 30, 2013 at 8:55 PM

    Can you say cap jail?

  39. spyder00798 - Jul 1, 2013 at 9:54 PM

    His hair is so sweet

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