Penguins sign The Kid for 5 years.

Confirmed from Pittsburgh in both the Tribune-Review and the Post-Gazette, Sidney Crosby has signed a 5-year extension deal with the Pittsburgh Penguins.

The deal is worth $45 million USD, which breaks down to $9M cap hit for 5 years, but does not come into effect until the expiration of his present contract at the end of this season. The extension pushes back Crosby’s time line, if he eventually wishes to become an unrestricted free-agent, by one year. Sidney is now eligible for UFA after the 2012/13 season is over.

Click HERE for the Tribune-Review article (the Post-Gazette article is just a short confirmation).


98 Responses to Penguins sign The Kid for 5 years.

  1. kamullia says:

    Do you think Martin would give him an offer? Would you be happy if he did?

    Hey Hey hey!!! You are supposed to do that in your room, Miki! With a towel and some porn video, usually….

    Good God!!!!

      Il rompi

  2. Nucks4life says:

    Its funny because that "loser" daniel brier will be making almost as much as crsoby, I think thats helarious. That kid had a break out season and his market price goes through the roof.

  3. loco42 says:

    Good for the kid. You forgot to count in that all the endorsements he gets :p. I wonder who’s going to be on the cover of NHL 2008…

  4. kamullia says:

    Jagr’s grandfathered contract still makes him the highest paid player in the league. It has been that way since prior to the lockout. It’s just that his costs/cap are split between two organizations.

  5. JuicemaN says:

    exactly, last I checked saving 1.3 million a season was a pretty nice discount.  Not only that but the guy signed for 5 years, in four years when he's getting paid just under 9 million and guys like danny heatley, Kipprusoff, Ovechkin are getting paid 9+ this deal will be a steal for the penguins.

    What the hell did you other peolpe expect him to sign for? 6 million? Screw that, he deserves (from an NHL standard) every penny he signed for and more.  He took a discount, just because it wasn't half-price doesn't mean a thing.

  6. kamullia says:

    Whitney has already been accounted for. Ryan signed a few weeks ago a 6-year $24M contract with the Penguins.

    I am of the opinion that Ovechkin will not give Washington a discount of any sort, but only to force a change of scenery.

    Ovechkin is driven by winning and every year he has always talked about the playoffs as part of a list of things he would like, including his rookie year (although with a lower interest). The word is that Ovechkin is not that patient and he is becoming tired of losing. If Washington does not turn things around fast enough, and as a very minimum make the playoffs this next season, I think chances are quite better that Alexander will be wearing a #8 with a different organization very soon. In fact, even making the playoffs might not be enough if Alexander does not view the team as one that will give him a chance in the near future to compete for a Stanley Cup.

  7. Halibut says:

    The only problem with Ovechkin going to a contender is it will be tough to find one with the cap space.  I'm pretty sure he'll sign a big contract but he cant get out for a few years yet since Washington can match.  I bet he does sign shorter term contracts though.  Not the 6 or 7 year ones going around.

  8. kamullia says:

    I can think of one scenario where a GM would offer more, and not be scorned. If Alexander Ovechkin became a restricted free-agent, I would not be in the least bit surprised if several GMs would offer him the maximum under the cap to jump ships. In the end, all the GMs would justify it with a simple supply and demand scenario, where they simply had to outbid their competition and that entitled giving more than $8.7M/year to Ovechkin. Keep in mind that the cap is still expected to increase, and this is why the NHLPA exercised their option to inflate the cap this next season to over $50M. Otherwise the formulas would have set the cap to a lower amount.

    In other words, $8.7M will be consider a good portion lower than the cap amount in the not so distant future, if all holds. And therefore paying over $8.7M will not be so much a matter of “who is better than who”, but of inflation and the increasing cap ceilings.

  9. Halibut says:

    Tons of teams will offer Ovechkin more if he doesnt resign with the caps.  It's all about the possibility of getting an elite forward and teams will pay for it.

  10. MTL_HABS_24 says:

    I see that I was wasting my time responding to your inane post as you’re incapable of debating with others in a civil manner. You come across as a maladjusted individual demonstrating a complete lack of impulse control, lashing out at others who did not deserve your ignorant rant. My mistake was assuming that you were a normal, civil and worthwhile person with whom I could exchange ideas. But it’s clear you’re none of those things. Instead, you come across as a repugnant, angry hate filled adolescent, full of rage and self-loathing. I feel nothing but pity for you and those around you.

  11. GoalJudge says:

    It is not Naivity. It's rationalization.
    The thing that you are being Naive about is the terms of the contract.
    The reasons it is from end loaded is because
    A) Players want to get their agent fees out of the way
    B) Players want a large sum of money in their pocket now to use/invest, and they want that sum regardless of agent fees.
    C) To make it easier for teams to move them when they are older and "less valuable".

    That is why Gomez and the likes got 10 million up front. It has everything to do with personal finances, not overall value.  You think Crosby is not gonna get a huge signing bonus and something like 15 million upfront when the new contract kicks in? That's naive. They do this because when invested that money can grow overtime with the power of compound interest. It has nothing to do with a players value today versus tomorrow, with the exception of making it easier for the teams, not the players, to move that contract further down the road.

    Thornton will get a front end loading of his contract as well.

    As as for the Naivity of not considering this to be a hometown discount, means your a fool.  Crosby has his money now, and will get more in the future. He makes far more from endorsements than he does from hockey.
    He will only be able to continue getting huge endorsement money if he is successful. The thing that will make him successful is being on a team that has other great players, such as Pittsburgh, which can only be done if it is affordable. It is a cap friendly move, now and in the future.
    What it will also do is lower the prices for anyone on the team who does not compare. Is Jordan stall worth 7.3 million if he can get 70pts like Gomez?
    Or is he only woth 5.5 because Crosby gets double the points, and therefore roughly doouble the money.  Crosby's price being low makes for a stronger bargaining point for the organization because who does not want to line up with a guy that talented? As good as they may be personally, they will have run-off success along side Crosby.
    And a decent 70pt player or UFA would definitely take a discount to line-up with Crosby. Not because he is a great person but because they will see a measure of success, and can get paid more in the long run.
    Sign with team A and get 3.5 million and 70 pts. or Sign with Pittsburgh at 3.0 million for 2 year, get 80-85 pts and come out and get 5.5-6 million a year.

    I say don't be naive.  These guys are in it for money as much as they are for sport, and like most people do get stuck in the trappings of the moeny game all the same.  They all also have HANDLERS to make sure that they are prosperous, and make sound life-decisions, most of which revolve around money.

    When they hit their mid 30s and have the money, then they get choosy.

  12. kamullia says:

    Washington’s ability to match might not be as simple, depending on how they position themselves. The one thing that is more rare than honesty in Washington D.C., is sellouts at the Verizon Center. And that means that the Caps have to watch a budget, and one lower than the cap. Keep also in mind that Leonsis pockets are nowhere near as deep as they once were, and he is not as enthusiastic with his team as he once was.

    In other words, economics might force Washington’s/Leonsis hand, and if the offer is through RFA and the contract is a long one, the Caps might be very tempted (or perhaps even almost forced depending the economics at the time) to take the picks instead and stay within the budget, rather than match.

  13. WYflyerfan says:

    Maybe you should read a little more about what you are writing. None of those players are making 10 mil. I think the highest cap hit is about 7.5 mil. Briere is only 6.5 mil against the cap. He will make 10 mil this year and it drops every year after that. That way it is easier to trade a player who is getting paid like 4.5 mil.

  14. kamullia says:

    I am sorry but I have to ask you to explain, here.

    Ron Burkle a new owner? I am sure you know he has been a Penguins owner since Lemieux, so I do not follow how he is a “new” owner. He was part of the Lemieux Group from the start, just did not get much involved, until the negotiations for an arena with the state kicked in.

    I have not read or heard anything corroborated and concrete, but the rumor is that Burkle is now much more interested in the franchise and how it does, instead of being a distant silent partner. But to what degree and how much monetary influence that translates into for the Penguins is still a big mystery to me. He could just be following out of curiosity and nothing more, just to keep in closer touch.

    And what is this about buying the Dow Jones? Did you mean this as a colorful expression in reference to his personal wealth? Being that it is a calculated industrial average, the only way to “buy” the Dow Jones would be to buy all the companies that comprise it. And even then, those are not fixed companies and change depending the economic spectrum, therefore “owning” the Dow Jones would be something dynamic. What did you mean by this?

  15. GoalJudge says:

    I read that it was going to be a referee this time.

    Either Kerry Fraser or Mike McGeough.

    The reason being that they are going to make it a more life-llike simulation game by adding weight to penalties in the period they are called. I.E. Something called in the first could be ignored in the third.
    Blown calls, random 'phantom calls'. ETC.

    These new changes are based on the rules of the game, so therefore there is a move to put on an official rather than a player.

  16. GoalJudge says:

    Jagr is still the highest paid, or so it looks like.
    I did some quick checking, and without an exact number, the rough numbers did look like they add up.

    Easy indicator was TFPs list which has JAGR still making 8.3 in the nth year or his contract.

  17. kamullia says:

    Got a bridge for sale?

  18. GoalJudge says:

    Right off the bat the discount is 2.3 million.
     The max is 20% of a team budget. 50.3.
    Now assuming that the players do vote another raise which I am sure they will and they teams will have to agree with prices rising so easily, then the discount grows every year he is under contract.

    If they do not raise the cap each year, then the discount is still good.
    A lot of players are going to sign huge contracts to teams, which are gonna be cap killers if the keeps going up.

    The thing is the teams and players haven't woke up yet. The teams are killing there caps, and the players signing these huge contracts are only going to have to give it back in escrow when the salaries go over the agreed upon 55% of league budget.  The players and teams not realizing this is going to kill them longterm, considering that all the contracts have monstrous terms as well.  Charles Wang now looks like a pioneer.

    This will work out though, as the contracts and cap space will kill budgets till teams are forced to deal talent to "lesser' teams just to make numbers work.  Nobody seems to be consulting capologists, and Teams are not letting RFAs go, and re-couping the picks.  This situation will be forced upon the league very very soon.

  19. kamullia says:

    Eric Staal is going to be on the cover of NHL 08. They announced it back in mid-June.

  20. Halibut says:

    It's possible but i dont think likely.  I am pretty sure that his signing will be the most dramatic event of next summer, whichever way it goes.

  21. kamullia says:

    Jagr is the highest player, but just for this year. Crosby will be the highest paid player (unless someone is signed for more before then, of course) in the 2008/09 season.

  22. malkin_71 says:

    Let me remind you that Staal making three million and Malkin making 4 million and Crosby making 4 million and this contract dose not com in pact till 08-09 thats 5 Million agaist the Cap of 38 million wich is 45 million And Malkin expecting at least 6.5 or 7 million well thats 48 million and Roberts and Recchi not expecting too come back for the for the 09-10 season that five million Extra for some other young guns i'll bet any of you that Staal Malkin and Crosby will not be leaving ANY time soon.

  23. the_word says:

    Unfortunately we all can't be a role model for civilized discourse like yourself. I'd also like to take this opportunity to say I'm touched by the pity you feel for me, your sincerity seems quite genuine. You don't come across as a frustrated spazz at all.

    If you bother to read this entire thread you'll find two other Habs fans I'm perfectly capable of discussing hockey (I 'd like to emphasize hockey) with. So the common denominator in these exchanges is you champ.

    Who is it that I lashed out at? I set the snare, a hyperbole about Crosby signing with Montreal, to see which idiot would take the post seriously. MTL_HABS_24 your a stereotype of a hick fan (hell even your screenname is) and once I took away your crutches (40 years without a cup and Habs 24 cups and countings…) your left with nothing, but personal attack at my character.

    Its amuses me to no end, I literally responded to your post line by line, and thats not good enough for you. You clearly have no interest in talking hockey. However, despite being the wretched maladjusted individual you perceive me to be, I'll invite you (for the second time) to actually debate or even discuss hockey and if you have a problem with me taking digs at you, I suggest you review your level of discourse.

  24. the_word says:

    I dunno, from time to time I'll play the role of that kind of Leafs fan (if I'm talking to that kind of Habs fan).  I guess I invited it with my original post.  But I'm perfectly capable of discussing hockey as well.  Some people take this site far too seriously and other get it.

  25. enigmagnum says:

    Andddd … there's 87 days until the Pens' next game. o.O

  26. MTL_HABS_24 says:

    You’re not worth my time, freakshow. I tried to respond to a comment you sent in a civil manner, not knowing you were setting a “snare”. You’re looking for attention, I can understand that. I guess your mother didn’t hug you enough as a baby, so in a way, you’re not really responsible for your lack of interpersonal skills. I’m so glad you were able be “touched” by the pity I feel for you. There may still be hope for you yet. Unfortunately for you, you’ll have to get your attention from someone else as I’m done dealing with you. I’d rather discuss hockey with someone who is not disingenuous. So long cupcake.

  27. I_hate_LA says:

    Isn't it ironic that Sids number is 87 and that their salary cap hit is 8.7?

  28. intelligentscorpio says:

    Actually, Crosby was won by the Penguins in a lottery. It had nothing to do with "bombed" seasons, as you put it.

  29. intelligentscorpio says:

    What does Columbus have to do with Lemieux, Crosby and Pittsburgh!

  30. jpmac says:

    Who are you to talk about mediocrity? If anything the leaves have been the team that has been mired in that.  Atleast we know what it takes to win a cup.
    Also with the comment about people wanting to play in Montreal because they grew up there, what about players like Thornton and Smyth who were going to go to the leafs because they were from TO? Toronto fans are just as bad as Habs fans of not worse. 
    And no one outside of Montreal has heard of these prospects? How come they are considered around the ;eague to have oneof the deepest set of prospects. 
    It is not our fault you don't know anything that happenes outside of Toronto.

  31. WYflyerfan says:

    I would take Briere a 100 times before taking Naslund….. They are both being paid about the same. Naslund hit against the cap 6 mil Breire 6.5 mil..

  32. AHLoldie says:

    Read the Wall Street Journal today.  He is currently trying to BUY the controlling interest in the DOW JONES which has been pursued recently by Rupert Murdoch.  As for Burkle's "new" ownership, it is true that he has been a behind the scenes owner, but has now stepped forward and Mario is the "behind the scenes" guy.  It was even thought that for a while, Mario was going to sell his interest in the team, which he didn't.  The Dow Jones is a saleable comodity worth billions, including the Wall Street Journal itself I believe.  Murdoch has been trying to buy it for months.  Burkle was trying to keep it in American ownership.  I think there's probably an article on Yahoo.

  33. dustintml says:

    According to several sources, the Leafs are closing in on a deal that would send McCabe, a prospect, and a pick, to Colorado in exchange for winger Milan Hejduk. More to come.

  34. prayin-for-the-wce says:

    Briere is hitting his prime just recently
    It is a totally different situation now then it was before.  At the time Naslund was one of the best players in the game and was in top 3 in points for like 2 years in a row.  Everyone wanted him, but he started to decline and now you can say that.  Would you rather have Nazzy 3 years ago when he was almost breaking the 50 goal barrier? or Briere when he was even waived from his team.  Your speaking in hindsight.  Obviously people would want Briere now in stead of Naslund.  I wonder how u will feel if Briere starts to decline after a couple years and you guys realize your on the hook for him for 4 years at 6.5 and hes only notting 60 points a year?  What a stupid comment.  Thanx for stating the obvious. 

  35. prayin-for-the-wce says:

    Noone cares.  Stick to the topic or submit the news.

  36. kamullia says:

    Learn something new every day. I was aware of the industrial average, but not of the company and that it owned the WSJ.

    I am not sure Mario is such a “behind the scenes” guy. I think he is just being inconspicuous and a bit reclusive for what I am told, but that he is still in constant touch with the daily operations.

  37. the_word says:

    In my experience on this site, Leafs fans are far more likely to offer a robust understanding of their team.  This is probably due to the amount of bashing on every Leafs post that posted. 

    Your right though, it is ridiculous to think that players like Thornton and Smyth want sign with their hometown team, just as it is equally moronic to think Crosby will sign in Montreal because he liked them while he was growing up.

    "Atleast we know what it takes to win a cup."

    Enlightened me, its seems to me you have little idea, I invite you to back up this statement.

    Who am I talk to talk about mediocrity?  Hhhhmmmmmmmm, well at least the Leafs make an effort in every off season to get better and if you take a look at the last fifteen year, no Canadian team has played more playoff games than the Leafs.  It childish to think that just because a team hasn't won a Stanley cup that their franchise is mired in mediocrity.  The Leafs have at least flirted with success and attempt every year to build on that.  Montreal on the other hand, has been a failed rebuilding project since 1993.

    "It is not our fault you don't know anything that happenes outside of Toronto."

    Baseless hollow comment that such as this prove you're simply a homer with nothing reasonable let alone insightful to bring to a discussion.

  38. loco42 says:

    Thanks, just googled it. The Kid will be there on 2009.

  39. loco42 says:

    I saw the link on hockeybuzz already…

  40. the_word says:

    Unoriginal, petty moaning from yet another thin skinned cyber troll who when challenged to bring something to a discussion regresses into an infantile rant. I'm sorry your such a delicate flower, but to suggest that you discuss hockey on this site is laughable, I've read your posts before, all you seem to write is shallow pro Habs posts that are completely devoid of any critical thought, boast about a cup win that is older than the Spin Doctor's last hit single and of course your only defense is to remind Leafs fans of 1967. Everything you write is completely interchangeable with all the other homers and yet you're completely blind to the irony in calling me disingenuous (which at times I can be, but I at least I am fully aware of it and do so purposefully). You might as well stop posting on this site entirely, there are plenty of lemmings already carrying the same dim torch as you anyway.

  41. MTL_HABS_24 says:

    I agree.  This post concerns Sidney Crosby and has nothing to do with McCabe, nor the Leafs.

  42. prayin-for-the-wce says:

    he was won in a lottery. But if you are saying bombing the season and ending up last in the NHL doesnt help than your a idiot.  The chances are increased the closer u are to last place.

  43. WYflyerfan says:

    That was my whole point the obvious. He was calling Briere a loser and I can't stand poeple saying that kind of stuff. I know Naslund is a great player I was just trying to prove a point. I also would rather have Briere at 6.5 mil then Drury or Gomez at 7.5 mil. That is just an opinion.  

  44. AHLoldie says:

    I was just trying to put azzkikr2100 in his place for the comment he made about the Pens being financially retarded.  In my opinion, the Rangers and Flyers are the ones who are currently financially retarded.  The Pens are doing exactly what they have to do to position themselves in their new arena. Keep up your good work.  You are a voice of logic for the Pens. 

  45. GoalJudge says:

    The reason he signed for five years is because it was the best way to negotiate what he wanted.

    With a 5 year contract he will give up the 1st year of his eligibility for UFA.
    Because of the age he entered the league he would be eligible at 24, and at the end of his extension he will be 25.

    In return he is offered more money, the C, and any other terms he wants.

    There are two other things to consider as well.
     1) He does not know what the cap will be in 2013 and could very well make 16 million if the cap was stretched as high as 80 million again.  Which some sports writers/bloggers.analysts suggest it could get to if we continue on the current rate.

    2) 2012 – 2013 will be the last season under the current CBA.
    It could very well be extended. However, nothing is known, and there are no crystal balls any more.  Heck by that point the PENS organization could have folded or be sold or moved again. This way Sid is not stuck should shit hit the fan at the next CBA or due to team problems.

    He may also not enjoy Pittsburgh anymore and like the Bright Light, Big City of New York, or California Girls.

    Who Knows?

    But the league conditions are what concern him now, not team finances.
    He has an open door anywhere he goes, and can command top dollar from anyone. So it is really now a matter of preference in where and with whom does he want to play so that he can creep the record books.

  46. kamullia says:

    Thank You. And by the way…some more good Penguins news: Alex Goligoski is skipping his senior year at Minnesota.

  47. Nucks4life says:

    praying-for-the-wcd

    your saying how im just stating the obvious but every one on here is like "ooo brier your the best i love you" so its nessecesary for me to say it, it wasnt a good pick up for philly they attached to him for 8 years. hes descent not a super star just like vanek one good year and bam instant pay raise of millions. these kids arent super starts stop paying them like superstars. oh and gomez hes a punk, every1 is getting huge bucks for washed up players or 1 hit wonders.

  48. brott says:

    Do you really want tobe the GM that signed a guy for more money then Crosby? I wouldnt. Its a rep. and you need to ahve a good one.

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