Title Edit: Ovechkin signs 13 year $124 mil extension with

[Allsmokenopancake 0]

From OFB, they are bloggers with press credentials from the caps. This from the season ticket holder meet and greet this evening...

Ted just approached us at the season ticket holders’ meet-n-greet with the players at Verizon Center and confirmed that the original deal we reported today was correct, in years and dollars (6 years, $54 million dollars), and then the team subsequently worked out an additional seven years — for 13 total — in the package. So basically, the team sat down at the table presented 6 @ $9M, then decided to negotiate a “second” contract to start after that term for $10M per year for 7 more years.

I'm not sure if this will have any bearing on anything, perhaps insurance. I think the NHLPA generally don't guarantee more than 6 or 7 year deals, so may be something there

[Jason Harris 31]

All things considered, the money isn't outlandish, but the length of the contract is crazy. One or two nagging injuries and the Caps could be paying superstar dollars for eight years of star performance.

[djinferno 2]

wow, good for him, these GM's are dumb to me, if its going to be long, it cant be for the max too, the players are eating cheese cake with no calories...

[MLSman 22]

If you heard the press conference...one thing that stood out to me was how excited he was to stay with the team he started with. Loyalty is a big thing to him...and it shows. He almost didn't seem to be so concerned about the specific number...it was more about the commitment.

It is the kind of person he seems to be, from his willingness to make himself publicly available to his fans at practice at Kettler, to his childlike exuberance with every important goal he scores.

I for one say good for him. If there is anyone that truly exhibits the absolute joy he shows at the privilege to be paid for playing this sport...it is Ovechkin. It's refreshing.

I have some difficulty with the cap comments, because since the cap has been instituted, the number has increased significantly every following year. Last year it was $44M. This year it was a little over $50. At that rate, his salary would be supported by salary cap increases. So if it goes up at the same rate, a 13.6% increase, to $56.8M...The Caps will have $47M+ to find a supporting cast...$3M less than they do this year. I just don't buy that argument.

[TheBert 0]

Why are we assuming that the cap is guaranteed to go up?

[UMWhockey 0]

If you listened to TSN they were talking about projections in 5 years for Sid's new deal. They are saying somewhere in the range of 15 mil per year with current cap projections. If in 5 years Sid is making 15 mil per and OV is still playing at a very high level then I would say that this was a very good deal. It is all going to depend on how healthy he stays and if he can maintain his style of play. It is a gamble, but only time will tell

[Chadd 916]

Why are we assuming that the cap is guaranteed to go up?

Since they changed all the jerseys, revenues have increased. The cap will go up next year.

[Allsmokenopancake 0]

All things considered, the money isn't outlandish, but the length of the contract is crazy. One or two nagging injuries and the Caps could be paying superstar dollars for eight years of star performance.

That to me is the biggest concern. He is fantastic to watch, because he plays reckless, he makes the big hits, goes full speed into the corners.

That could end his career with one bad move.

I hope it doesn't, and from a selfish point of view, since I'm a caps fan, and get to a lot of games, I'm delighted that he will be here long term.

They need to lock up mike green now, before he hits RFA status, I think teams will throw a big offer sheet to him too

[hockeysc23 0]

All things considered, the money isn't outlandish, but the length of the contract is crazy. One or two nagging injuries and the Caps could be paying superstar dollars for eight years of star performance.

That to me is the biggest concern. He is fantastic to watch, because he plays reckless, he makes the big hits, goes full speed into the corners.

That could end his career with one bad move.

I hope it doesn't, and from a selfish point of view, since I'm a caps fan, and get to a lot of games, I'm delighted that he will be here long term.

They need to lock up mike green now, before he hits RFA status, I think teams will throw a big offer sheet to him too

Did you end up going last night Smoke? I was there and it was amazing when Ted made the comment. Here I was busy telling everyone of the first initial deal thinking I had some hot news!! haha.

What an experience. I got to meet Green last night and hope we get his deal done soon.

[Allsmokenopancake 0]

No, didn't get last night unfortunately. Going to go to practice tomorrow morning I think though

[ADAbsolutNDN 0]

Good signing by the Caps...I mean he probably scores 20-30% of the teams goals so using that much cap room is not unwarranted. And at least this way they can avoid having to match some ridiculous offer sheet from the Oilers and co.

[mrusse01 0]

All things considered, the money isn't outlandish, but the length of the contract is crazy. One or two nagging injuries and the Caps could be paying superstar dollars for eight years of star performance.

Yeah, but go back 13 years and see how much the highest paid guy in any league was making... and ask yourself do you think he'd be happy making that much now? I can forsee some of these long term deals ending up with the player freaking out because he is underpaid and pulling a Yashin and sitting out.

[hockeysc23 0]

Very true but Ovi does not APPEAR to be a Yashin or Jagr type of player. But only time will tell. I as a Caps fan since I was little am very happy to have won the lottery and have him on this team.

[saba 0]

Good move for the Craps but I would wait to see what supporting cast he gets surrounded with before this pans out for your Craps.

[hockeysc23 0]

Good move for the Craps but I would wait to see what supporting cast he gets surrounded with before this pans out for your Craps.

Have you seen us the past 15 games, granted a small stretch i know.

But we have great roll players in: Laich, Laing, Brasher, and Bradley.

Scorers in Ovi, Semin, Backstrom and Green.

And key faceoff winners: Steckel, Nylander, and Gordon.

Kozlov just skates around I don't know what he does.

We are poised for a good couple of years if we could add another RW and some D depth. And of course we are going to have to look at the goalie situation very soon.

[psh 25]

Boy, the Russians are having a good year. Ovechkin, Kovulchuk and Datsyuk, to name a few, have been a real pleasure to watch this year. None of them are my favorite players, but I've got to give them credit, they really seem to be playing well, and with spark. I was always a Dats doubter, but he's convincing me, and Kovulchuk has really turned his game around, too.

This contract seems to be ridiculously large, but OV is a proven scorer. And, Leonsis must love the guy from a marketing perspective. Alex does and says all the right things. As much as any player in the league, he is the face of his teamm. OV plays, and seems to live, with a sense of joy and sparke and wonder (and, as someone said, recklessness) that just draws people to watch him. I don't think this contract will be a bad deal for the Caps--I sure hope it's not. I hope the Caps get every cent worth of this investment. It will be good for them, OV, and the league. The league needs more guys like Alex.

[Trooper 8]

That to me is the biggest concern. He is fantastic to watch, because he plays reckless, he makes the big hits, goes full speed into the corners.

That could end his career with one bad move.

Teams have insurance on big contracts. If he gets hurt they won't have to come up with the money.

[Jason Harris 31]

We were talking more about an injury(s) that degrades his skill but doesn't end his career. Then they be paying a top end contract for years, yet not receiving the expected production.

[cxo 0]

We were talking more about an injury(s) that degrades his skill but doesn't end his career. Then they be paying a top end contract for years, yet not receiving the expected production.

That's the gamble you take, it would be their own fault. I'm sure they took it into full consideration before making the offer.

[RadioGaGa 162]

Details of the deal and the modified NTC it includes:

http://tsn.ca/nhl/news_story/?ID=227119&hubname=

[Jason Harris 31]

We were talking more about an injury(s) that degrades his skill but doesn't end his career. Then they be paying a top end contract for years, yet not receiving the expected production.

That's the gamble you take, it would be their own fault. I'm sure they took it into full consideration before making the offer.

I suppose, but I'd argue the smarter organizations would never offer a contract that long. To me, these long contracts are panic moves -- which are no doubt reinforced by whispers of the agents -- that they'd better tie up the player or he's walking in three years. Now the horse is out of the barn and every semi-elite player is going to threaten sign elsewhere unless he gets at least seven years.

Fine, walk. The smart organizations set a budget and stick to it, and they're willing to lose their prized players, because they realize depth is just as important for championships. Or a better way to put it is who have been the superstars of the past few Stanley Cup winners? Chris Pronger and Scott Niedemeyer? Maybe. Martin St Louis? Maybe. Eric Staal? Maybe. Above average players, certainly, but the teams won because of their depth and ethic.

Tying up a player at 20% of the salary cap for 13 years is crazy, regardless how skilled he is.

[hockeysc23 0]

We were talking more about an injury(s) that degrades his skill but doesn't end his career. Then they be paying a top end contract for years, yet not receiving the expected production.

That's the gamble you take, it would be their own fault. I'm sure they took it into full consideration before making the offer.

I suppose, but I'd argue the smarter organizations would never offer a contract that long. To me, these long contracts are panic moves -- which are no doubt reinforced by whispers of the agents -- that they'd better tie up the player or he's walking in three years. Now the horse is out of the barn and every semi-elite player is going to threaten sign elsewhere unless he gets at least seven years.

Fine, walk. The smart organizations set a budget and stick to it, and they're willing to lose their prized players, because they realize depth is just as important for championships. Or a better way to put it is who have been the superstars of the past few Stanley Cup winners? Chris Pronger and Scott Niedemeyer? Maybe. Martin St Louis? Maybe. Eric Staal? Maybe. Above average players, certainly, but the teams won because of their depth and ethic.

Tying up a player at 20% of the salary cap for 13 years is crazy, regardless how skilled he is.

There was no agent. Ovechkin negotiated the contract himself. If you read the article its basically 2 different contracts rolled in to one.

Yes the capitals are betting that Ovechkin continues to play hard and score goals. But look at it this way. If Ovi keeps around his #'s his contract in 6 years will be a steal for only 10 million a year. Versus someone like Crosby who if he continues under his same production would probably earn around 12-15 million. That is a lot. Not to mention both Crosby and Ovi, would've been, able to walk with simple deals in the prime of their career.

The Caps are taking the risk that Ovi will continue to produce and if he does they will end up saving millions versus spending millions by offering him this long term deal.

[ean 0]

We were talking more about an injury(s) that degrades his skill but doesn't end his career. Then they be paying a top end contract for years, yet not receiving the expected production.

That's the gamble you take, it would be their own fault. I'm sure they took it into full consideration before making the offer.

I suppose, but I'd argue the smarter organizations would never offer a contract that long. To me, these long contracts are panic moves -- which are no doubt reinforced by whispers of the agents -- that they'd better tie up the player or he's walking in three years. Now the horse is out of the barn and every semi-elite player is going to threaten sign elsewhere unless he gets at least seven years.

Fine, walk. The smart organizations set a budget and stick to it, and they're willing to lose their prized players, because they realize depth is just as important for championships. Or a better way to put it is who have been the superstars of the past few Stanley Cup winners? Chris Pronger and Scott Niedemeyer? Maybe. Martin St Louis? Maybe. Eric Staal? Maybe. Above average players, certainly, but the teams won because of their depth and ethic.

Tying up a player at 20% of the salary cap for 13 years is crazy, regardless how skilled he is.

At the rate contracts for premium players are increasing, at 10 mill a year even 4 years from now he will be a steal.

[Jason Harris 31]

Maybe in comparison to other top players, but the goal is to win the Stanley Cup, so the question is whether this contract will help the Caps.

One way to look at it is how many incredible years does he have to have for this contract to be a steal? Let's say he's amazing for six years, but gets hurt in year seven and misses much of the year, then returns in year eight but he's about 80% of his former self. Is that a steal. What if he gets hurt in year four, then returns in year five at 80%. Is it a steal now? On the other hand, if he's amazing for all 13 years, there will be no doubt he lived up to his part of the contract.

What's more important, however, is how this contract affects the Caps' chance for the Cup. The salary cap is projected to increase to $50.3 million, so his contract wouldn't exceed the 20% maximum, but USA Today claims the Capitals spent $29.7 million this year.I don't believe a team can have enough breadth of talent when 20% of their salary is going to player, but I particularly don't think they'll have enough depth if they keep it so his salary counts for 25.7% of the cap.

These latest contracts remind me of the early days of the NFL free agency, when teams were still trying to figure out the cap and were overpaying players for their production in other systems. I suspect will see a few more "lifetime" contracts, because teams will tell themselves that's the price for superstar talent. But after a couple of these contracts evolve into seven years remaining at lower production, they will no longer view them as steals.