Saku Koivu Re-signed to a 3-Year Deal

According to the Montreal Canadiens have re-signed Saku Koivu to a 3-year $14.75 million deal. He will make $4.75 million per season, a significant increase from the $3.42 million he was paid this year. The deal, moreover, will last until the end of the 2008-2009 season and also includes a no-trade clause.

My Take:

I like the way he plays and the courage that he has shown throughout his career. One only has to look at his comeback from cancer to lead the Habs to a playoff win over the Boston Bruins to see Koivu’s courage. However, the price the Habs paid for his services over the next three years is a bit steep. He has been prone to injury to say the least, and paying this much money for a player that will only play an average of 60 or so games a year is too much. The Habs should have waited until the off-season to see what the market would have been for Koivu’s services, which would have been less than what he was signed for. The money saved could have been used to obtain a sniper or a top-pair defenseman, two areas that the Habs have been perennially looking for upgrades. Moreover, he is not a first-line centre and has never put up numbers that warrant such a salary. Nevertheless, I am happy to see him stay in Montreal.