Spezza signs, 7 years $49 mil

[Allsmokenopancake 0]

http://www.tsn.ca/nhl/news_story/?ID=221972&hubname=nhl

Jason Spezza has a new seven-year contract extension worth $49 million with the Ottawa Senators.

Spezza will get $8 million in each of the first five years of the contract and $5 million and $4 million, respectively, in the final two years. The cap hit will be $7 million per year for the Senators.

[Law Goalie 147]

This puts Wade Redden in a really interesting spot - either he re-signs for significantly less to stay in Ottawa, or they trade him off into the West to a desperate borderline playoff team at the deadline, or he walks in the summer. He simply can't ask to re-sign at anything like his current rate because there isn't any money left.

Frankly, I think he'll either re-sign for peanuts ($3M or even less) or they'll dump him in another Yashin-esque prospect scoop. I wonder if there are any other neglected 6'9" guys Ottawa can get for nothing...

[wullymc 0]

That is great news, me being a Sens fan. As for Redden, I think he is doing much better this year than last. Last year was tough for him with injuries etc. I see him signing for a big paid cut.

Go Sens Go!!

[DEATHTRON 19]

The writing is on the wall, Redden is out. Rarely in professional sports do you re-sign for less than youre making when youre still in your prime.

Zach

[psh 25]

Worth every cent. This guy has been one of my favorite surprises over the last couple of years. Having a playmaker like him tied up long term and a sniper like Heatley tied up long term has got to make the Sens feel good about the future.

And that Sher-wood woodie has to make you smile.

[ronnychencharik 0]

Dont forget about his Grafs either, no one really wears them anymore. Anyway, i thought this nasty goal would be appropriate.

[hockey is life... 0]

he'll probably stay. i would stay because they are def goin' to playoffs and most likely stanley cup finals :)

[s Greens 0]

he'll probably stay. i would stay because they are def goin' to playoffs and most likely stanley cup finals :)

a very accurate predictions especially 11 games into the season

[mrusse01 0]

he'll probably stay. i would stay because they are def goin' to playoffs and most likely stanley cup finals :)

a very accurate predictions especially 11 games into the season

I hate the Senators as much as anyone...but they are 12-1 after an undefeated pre-season. I don't think it's a stretch to say they are certainly going to the playoffs, and have probably a better shot than anyone to make the Finals.

[Dean_ 0]

This is a very smart move by Ottawa to sign Spezza, and to sign there other key players like Heatley, Phillips, and Volchenkov.

[Law Goalie 147]

As I figured, Redden knows his situation... he's not going to ask them to break the cap, he's going to sit down in good faith and ask for a percentage of what's left, and will, I imagine, do so in the understanding that by signing him they will not be able to sign a few other guys - his friends.

Redden may be a lot of things, but immature isn't one of them.

[604bullet 0]

As I figured, Redden knows his situation... he's not going to ask them to break the cap, he's going to sit down in good faith and ask for a percentage of what's left, and will, I imagine, do so in the understanding that by signing him they will not be able to sign a few other guys - his friends.

Redden may be a lot of things, but immature isn't one of them.

very nicely said

i totally agree

he will ask for a percentage of the remaining salary

question is....what is the percentage that he's gonna get?

[sjsharks11 0]

Worth every cent.

And that Sher-wood woodie has to make you smile.

unless there in the stanley cup finals. spezza was invisable and had no intensity during the entire series

[Viking 1]

^ Maturity, and good coaching can make a great player play up to his potential in any situation. Those things cannot make an average player much more than an average player, however.

I'm wetting myself over a Spezza re-signing, but I am not at all confident about Redden being back. I know they're saying he'll take a pay cut to stay, but I don't think he'll take a big enough one. I don't see where the Senators would be able to give him a cent more than 3 million dollars. With the couple of seasons he's had, I don't think there's another $6.5M deal waiting for him out there if he hits the open market, but I could see 5 or 6. Even a player who liked his situation, I find it hard to see taking more than a 50% pay cut when he's a fairly big name testing unrestricted free agency for the first time. I don't see the Senators trading him because he won't lift his no-trade (If I'm not mistaken, they had deals worked out in the summer, but he wouldn't go), but I don't see the numbers making sense for him to be back after this year. It feels to me like he's taking one more kick at the Stanley Cup with the Senators this year, and then he'll go get his payday July 1st.

Oh, and PS:

[jestrs 0]

I do not think he is worth $7 million a season. Alfredsson is the best palyer on the Sens and making $5.5M. Ottawa has over spent and it will hurt them next year. They better get it done this year because I do not see how they can afford to replace anyone.

Next Year:

Heatley - 10M

Spezza - 8M

Fisher - 6M

Alfredsson - 5.465M

Gerber - 3.7M

That is 33M - four forwards and a back-up goaltender. This figure is not the Cap number, but still 33M for four players and a back-up does not leave alot of room to negotiate with UFA's and RFA's

Ottawa is not the only team in this situation. I think GMs are still trying to figure out the salary cap.

[Chadd 916]

Evidently they went to the Tampa Bay school of cap management.

[Viking 1]

I do not think he is worth $7 million a season. Alfredsson is the best palyer on the Sens and making $5.5M. Ottawa has over spent and it will hurt them next year. They better get it done this year because I do not see how they can afford to replace anyone.

Next Year:

Heatley - 10M

Spezza - 8M

Fisher - 6M

Alfredsson - 5.465M

Gerber - 3.7M

That is 33M - four forwards and a back-up goaltender. This figure is not the Cap number, but still 33M for four players and a back-up does not leave alot of room to negotiate with UFA's and RFA's

Ottawa is not the only team in this situation. I think GMs are still trying to figure out the salary cap.

It's the salary cap amount that matters, not the actual salary. On the cap, it's 7 each for Heatley and Spezza, and I believe just north of 4 for fisher. They're not in bad shape salary cap-wise, and they're even better if someone gets desperate enough to take Gerber off their hands - that I can see happening as a deadline deal to a team on the bubble with their playoff situation (see: When Edmonton got Dwayne Roloson). Wade Redden will either be leaving, or taking a big pay cut, so that's more cap room free for next year. The Senators have figured out the cap - Martin Gerber aside (admittedly, his contract is the stain on their shirt), they've kept the right players for the right amounts (Heatley, Spezza, Volchenkov, Philips, Emery), and let the right players go when the situation wasn't good for them (Havlat, Chara, Preissing, probably Redden).

[jestrs 0]

I was talking about Spezza's actual salary is going to be 8M a year for the next five years. He is not worth that.

I agree they would be in better shape if someone would take Gerber. A team would have to be pretty desperate to do it though.

I guess my real point was GMs have over paid on some (most) players, and it has sent salaries through the roof. Then you hear the GMs blaming the players for being greedy.

I cannot blame the players. If I were Jovanovski and someone offered me 7M, I would take it and run.

Not just picking on Jovanovski, but there are three guys making 10M this season. Briere, Gomez, and Vanek, I do not think any are worth that price.

[s Greens 0]

I was talking about Spezza's actual salary is going to be 8M a year for the next five years. He is not worth that.

I agree they would be in better shape if someone would take Gerber. A team would have to be pretty desperate to do it though.

I guess my real point was GMs have over paid on some (most) players, and it has sent salaries through the roof. Then you hear the GMs blaming the players for being greedy.

I cannot blame the players. If I were Jovanovski and someone offered me 7M, I would take it and run.

Not just picking on Jovanovski, but there are three guys making 10M this season. Briere, Gomez, and Vanek, I do not think any are worth that price.

with the way gerber is playing so far this season it would be a stupid move for any team not to take him if the offer was made available

[jestrs 0]

He has played pretty well this year, but it does not hurt he is on the hottest team in the league.

[Law Goalie 147]

See, I don't know that Gerber's deal is all that bad. He's a pretty damn good goalie for $3.7M. The Sens don't have any more money committed to their starting goalies than most other teams (I think they're probably in the bottom half of the league in combined tandem salaries), and that's major value-for-money when you get Gerber and Emery for just under $7M.

I think the Sens can sit back with two capable goalies and wait for a huge offer to come their way; if nothing comes down the wire, they have the best tandem in the league for a run at the Cup. Not a terrible position. If someone is willing to shell out a ton of picks and prospects, either one is strong enough to carry the load.