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. Duchene slams Russian players for storming off after Canada’s 2015 WHC win

    May 28, 2015, 11:16 PM EDT

    cd0ymzcznguwzdbhnduynddiytjhm2yyzthlmtjjotqwyyznptrjmddjzwzioti1mmuymzk2njjjmzkwndizmmuyodfh AP

    “They need to hear our anthem, that’s a part of losing.”

  2. Chicago’s Sharp on Game 7 confidence (and Mario Kart)

    May 28, 2015, 10:02 PM EDT

    cd0ymzcznguwzdbhnduynddiytjhm2yyzthlmtjjotqwyyznptk3ztbjztrjndbimtgynza0mjy1ndyynjbkmzi4zmyy AP

    Sharp says Blackhawks are ready for “whatever [the Ducks] throw at us.”

  3. Bolts shrug off talk of Madison Square Garden ‘mystique’

    May 28, 2015, 8:58 PM EDT

    Tampa Bay Lightning v New York Rangers - Game Five Getty Images

    Victor Hedman: “We’re prepared for this.”

  4. Devils’ Shero: No decision yet regarding Clowe’s future

    May 28, 2015, 7:47 PM EDT

    Ryane Clowe AP

    Retirement remains a possibility, and it might be his call.

  5. Schmaltz to Schwartz? Blues sign 2012 first-rounder

    May 28, 2015, 6:35 PM EDT

    2012 NHL Entry Draft - Portraits 2012 NHL Entry Draft - Portraits

    Even their first names are similar (Jordan and Jaden). Fun times ahead …

  6. Politician accuses ‘separatist’ Peladeau of turning NHL off Quebec City

    May 28, 2015, 5:28 PM EDT

    Nordiques Rally Hockey AP

    “The fact that Mr. Peladeau is a separatist…we know very well whether it’s the owners of the team in Toronto or the owners of the Canadiens, they’re not separatists and they don’t want Quebec to separate.”

  7. DeBoer predicts ‘big bounce-back’ in San Jose

    May 28, 2015, 4:52 PM EDT

    Peter DeBoer Getty Images

    Says that “the expectation is to win right now.”

  8. (Video) PHT Extra: Health, not history, should be Lightning’s major concern

    May 28, 2015, 3:48 PM EDT

    New York Rangers v Tampa Bay Lightning - Game Six Getty Images

    Meanwhile, in the West, Corey Crawford has the edge in big-game experience over Frederik Andersen.

  9. Sabres name Bylsma head coach

    May 28, 2015, 3:15 PM EDT

    BOSTON, MA - JUNE 05:  Dan Bylsma of the Pittsburgh Penguins speaks to the media following a 2-1 double overtime loss to the Boston Bruins during Game Three of the Eastern Conference Final of the 2013 NHL Stanley Cup Playoffs at the TD Garden on June 5, 2013 in Boston, Massachusetts.  (Photo by Jared Wickerham/Getty Images) Getty Images

    Pens to receive third-round pick in 2016 as compensation.

  10. ’15 Draft prospect Connor wins USHL Player of the Year

    May 28, 2015, 2:21 PM EDT

    USA Blue v USA White - 2014 USA Hockey Junior Evaluation Camp Getty Images

    After scoring 80 points in 56 games for Youngstown.

  11. Lundqvist on Game 7: ‘You’re definitely nervous, but it comes down to teamwork’

    May 28, 2015, 2:08 PM EDT

    Canadiens Rangers Hockey AP

    Rangers goalie knows he can’t rely on history to defeat the Lightning.

  12. Report: Bylsma to Sabres being held up by compensation issue

    May 28, 2015, 1:04 PM EDT

    BOSTON, MA - JUNE 05:  Dan Bylsma of the Pittsburgh Penguins speaks to the media following a 2-1 double overtime loss to the Boston Bruins during Game Three of the Eastern Conference Final of the 2013 NHL Stanley Cup Playoffs at the TD Garden on June 5, 2013 in Boston, Massachusetts.  (Photo by Jared Wickerham/Getty Images) Getty Images

    The former Penguins coach is still under contract to Pittsburgh.

  13. Report: Roy wants to bring Radulov to Colorado

    May 28, 2015, 12:27 PM EDT

    Radulov AP

    Former Preds forward, who played for Roy in junior, is currently with KHL club CSKA.

  14. Terry Murray would ‘absolutely’ take job as Hakstol’s assistant

    May 28, 2015, 12:22 PM EDT

    Buffalo Sabres v Los Angeles Kings Getty Images

    Has spent the past three seasons coaching the Flyers’ AHL affiliate.

  15. Report: Gagne wants to resume playing career

    May 28, 2015, 12:05 PM EDT

    St. Louis Blues v Boston Bruins Getty Images

    Spent part of last season with the Bruins

Featured video

Which teams have the Game 7 edge?
Top 10 NHL Player Searches
  1. R. Nash (1434)
  2. K. Yandle (1307)
  3. A. Vermette (1259)
  4. M. Carle (1160)
  5. N. Horton (1146)