Skip to content

It’s official: Penguins sign Letang to eight-year, $58 million deal

Jul 2, 2013, 6:03 PM EDT

Kris Letang Getty Images

The Pittsburgh Penguins have locked up another key piece of their core today by announcing the signing of Kris Letang to an eight-year, $58 million extension. Letang was already signed through 2013-14, so he’s now under the Penguins control until the summer of 2022.

In Letang, the Penguins have a 26-year-old that’s widely regarded as one of the top offensive defenseman in the league. He was a finalist for the 2013 Norris Trophy and had 80 points in 86 games over the last two seasons.

At the same time, Pittsburgh is taking a sizable risk by agreeing to pay Letang an average of $7.25 million annually over the life of this contract. The Penguins now have $30.45 million worth of cap space committed to Letang, Sidney Crosby, Evgeni Malkin, and James Neal starting in 2014-15. That represents nearly half of the salary cap by next year’s standards tied to just four players.

While it is likely that the cap will increase over the life of these players contracts, Penguins GM Ray Shero might still have a tough time building a supporting cast around those four stars with what’s left of his cap space.

Latest Posts
  1. Running Wild: Flames fail to gain ground in playoff race after loss in Minnesota

    Mar 27, 2015, 10:55 PM EDT

    AP

    That’s a blow to Calgary’s post-season hopes.

  2. Could Lundqvist start Saturday for the Rangers?

    Mar 27, 2015, 8:00 PM EDT

    AP

    New York plays twice this weekend.

  3. Eichel, BU avoid opening-round NCAA scare, beat Yale in OT

    Mar 27, 2015, 5:25 PM EDT

    Stu Wilson, Jack Eichel, Alex Lyon Getty Images

    Terriers move one step closer to the Frozen Four.

  4. Video: Berube defends how he’s deployed Lecavalier

    Mar 27, 2015, 5:01 PM EDT

    Craig Berube AP

    “In the middle of the ice in our system, it’s a lot of work.”

  5. Sharks shut down Mueller (hand) for remainder of road trip

    Mar 27, 2015, 4:34 PM EDT

    Vancouver Canucks v San Jose Sharks Getty Images

    And, quite possibly, for the remainder of the season.

  6. Five big games to watch this weekend

    Mar 27, 2015, 4:06 PM EDT

    Derek Stepan, Zdeno Chara, Tuukka Rask AP

    Nail-biting time for Bruins fans.

  7. More bad news for slumping Wings as Sheahan (upper body) out

    Mar 27, 2015, 3:35 PM EDT

    RileySheahan2 Getty Images

    Joins Pavel Datsyuk and Erik Cole on the shelf.

  8. Goalie nods: Make it 33 straight for Dubnyk

    Mar 27, 2015, 2:23 PM EDT

    Devan Dubnyk AP

    News and notes from around the crease…

  9. Caps’ Wilson the latest to be fined for diving

    Mar 27, 2015, 12:36 PM EDT

    Tom Wilson Getty Images

    Washington sophomore now $2,000 lighter in the pocket.

  10. Once again, Canucks forced to put bad loss ‘in the garbage can’

    Mar 27, 2015, 12:36 PM EDT

    Vancouver laid another egg last night versus the Avs.

  11. How many starts does the Hamburglar have left?

    Mar 27, 2015, 12:29 PM EDT

    Andrew Hammond AP

    Because things aren’t trending in a good direction for him.

Featured video

Hammond leads Ottawa's turnaround
Top 10 NHL Player Searches