Skip to content

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.

Latest Posts
  1. Challenging early schedule looms for Sharks

    Sep 1, 2014, 7:33 PM EDT

    Antti Niemi, Marc-Edouard Vlasic AP

    Sixteen of their first 21 games are on the road.

  2. Workhorse goalies, forwards from last season

    Sep 1, 2014, 6:05 PM EDT

    2014 NHL Stanley Cup Final - Game Five Getty Images

    Part two of today’s Labor Day posts.

  3. NHL’s hardest working defensemen in 2013-14

    Sep 1, 2014, 4:22 PM EDT

    Minnesota Wild v Chicago Blackhawks - Game Five Getty Images

    Part one of two Labor Day “theme” posts.

  4. Johnston believes Pouliot’s ready for NHL

    Sep 1, 2014, 2:55 PM EDT

    Derrick Pouliot Getty Images

    The new Penguins bench boss previously coached the young defenseman.

  5. Hitchcock: Cole has opportunity to be top-six defenseman

    Sep 1, 2014, 1:30 PM EDT

    Ian Cole Getty Images

    The 25-year-old has been fighting for playing time since he broke into the NHL.

  6. Yeo to split Wild’s first three preseason games among three goalies

    Sep 1, 2014, 12:10 PM EDT

    Josh Harding, Niklas Backstrom Josh Harding, Niklas Backstrom

    He might pick an opening game starter after that, but the battle for the top spot is likely to extend into the season.

  7. Five interesting players still on UFA market

    Sep 1, 2014, 10:46 AM EDT

    Ilya Bryzgalov Getty Images

    Will they have contracts by the start of the season?

  8. Boudreau thinks Heatley’s a better fit with Perry/Getzlaf than Penner

    Sep 1, 2014, 9:25 AM EDT

    Edmonton Oilers v Minnesota Wild Getty Images

    Last season’s experiment ended with Penner being traded.

  9. Trotz will still cheer for Preds ‘like crazy’

    Aug 31, 2014, 11:01 PM EDT

    Barry Trotz AP

    He continued to follow their summer moves after he was fired.

  10. Lombardi brings Stanley Cup to Snoopy

    Aug 31, 2014, 9:44 PM EDT

    Dean Lombardi AP

    The late creator of Peanuts was a big hockey fan.

  11. Columnist: Schultz deal might complicate Avs’ talks with RFA Barrie

    Aug 31, 2014, 8:26 PM EDT

    Tyson Barrie Getty Images

    The Colorado defenseman is still a restricted free agent.

  12. Scioscia wants MLB to adopt NHL-inspired roster expansion rules

    Aug 31, 2014, 7:03 PM EDT

    Mike Scioscia AP

    “I think that would make it a little more equitable for match-ups.”

  13. Hextall: Advanced statistics small, but meaningful part of Kings’ success

    Aug 31, 2014, 4:22 PM EDT

    Ron Hextall Getty Images

    He served as an assistant general manager in Los Angeles before coming to Philadelphia.

  14. Gagner looking for fresh start in Arizona

    Aug 31, 2014, 3:02 PM EDT

    Sam Gagner AP

    After matching a career-low in goals during the 2013-14 season, he’s hoping for big things with the Coyotes.

  15. Report: Devils sign Kelly

    Aug 31, 2014, 1:30 PM EDT

    Image (1) NewJerseyDevils_logo-thumb-250x243-22093.gif for post 6122

    Add depth to blue line in Albany.

  16. Hayes sees opportunity with Rangers

    Aug 31, 2014, 12:03 PM EDT

    Kevin Hayes Getty Images

    Hopes to play in the NHL in 2014-15.

  17. Bieksa confident changes have Canucks headed in right direction

    Aug 31, 2014, 10:33 AM EDT

    Kevin Bieksa Getty Images

    After missing the playoffs for the first time since 2007-08, he believes they’ll be back in the postseason in 2014-15.

  18. Leafs’ Kadri aims for more goals in contract year

    Aug 31, 2014, 9:00 AM EDT

    Toronto Maple Leafs v Ottawa Senators Getty Images

    He’s emphasized a quick shot release the most.

Top 10 NHL Player Searches
  1. B. Bishop (2007)
  2. D. Alfredsson (1928)
  3. M. Fleury (1896)
  4. C. Anderson (1779)
  5. J. Schultz (1510)
  1. D. Krejci (1416)
  2. J. Boychuk (1409)
  3. D. Setoguchi (1368)
  4. E. Staal (1359)
  5. R. Lehner (1233)