Deadpool
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1 edit | [Hockey] Sens re-sign Spezza to 7 year, $49 million extension
tsn.ca/nhl/news_story/?ID=221972&hubname=
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.
Like teammate Dany Heatley's new contract, there are provisions for a no-trade clause.
Negotiations for the new contract proceeded quickly. Spezza's agent Rick Curran met with Senators' GM Bryan Murray last weekend and the deal was consummated Thursday night.
The deal breaks down as follows:
Year / Signing Bonus / Salary
08-09/ $4M /$4M
09-10/ $4M /$4M
10-11/ $4M /$4M
11-12/ $2M /$6M
12-13/ $2M /$6M
13-14/ $0/$5M
14-15/ $0/$4M
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HiVolt
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clubs: | Re: [Hockey] Sens re-sign Spezza to 7 year, $49 million extensio
Wait a minute.. A signing bonus for each year? Or is that a way to sneak around a cap?
Shouldn't a signing bonus only be at the beginning?
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Deadpool
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| Doesn't matter. The total (including the signing bonus money), is still $49 million over 7 years, and the annual cap hit is $7 million.
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pat_lc2000
join:2006-02-04
Ottawa, ON | reply to Deadpool
Either way it's way to much for the stupid little weeny. |
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Deadpool
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| said by pat_lc2000  :Either way it's way to much for the stupid little weeny. You're kidding, right? Or are you one of those fickle Sens fans?
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BigSensFan
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| said by Deadpool :said by pat_lc2000 :Either way it's way to much for the stupid little weeny. You're kidding, right? Or are you one of those fickle Sens fans? I dont think he is a Sens fan (if memory serves me)
But this is awesome new.
Hivolt, the bonuses count against the cap regardless what year you pay them.
Supposedly there is a NTC as well (in the years that he is eligible for it)
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HiVolt
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| said by BigSensFan :Hivolt, the bonuses count against the cap regardless what year you pay them. So what's the point of breaking down the total he's making, into a signing bonus & salary for each year except the last two?
I don't get it.
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BigSensFan
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| said by HiVolt :said by BigSensFan :Hivolt, the bonuses count against the cap regardless what year you pay them. So what's the point of breaking down the total he's making, into a signing bonus & salary for each year except the last two? I don't get it. He wants to see (spezza that is) some more money now, than later. That way he gets the interest on the money quicker
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DKS
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| said by BigSensFan :He wants to see (spezza that is) some more money now, than later. That way he gets the interest on the money quicker Spezza played Jr. A here in Owen Sound. He left. He wasn't a team player than. Ego got in the way. Looks like money, now.
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HiVolt
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| reply to BigSensFan
said by BigSensFan :He wants to see (spezza that is) some more money now, than later. That way he gets the interest on the money quicker I have no problem in him earning 8M in the first 5 years, then 5M, and 4M in the last two years.
What I don't get why the signing bonus is specified in EACH year of the contract except the last two... To me a signing bonus means something you get when you sign the contract, not every year...
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BigSensFan
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| I dont know why they do that HiVolt. Maybe to make the amount of $$$ going out in one year manageable to Melnyk
After all he has to agree with it otherwise no payday for anyone |
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BigSensFan
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| reply to DKS
said by DKS :said by BigSensFan :He wants to see (spezza that is) some more money now, than later. That way he gets the interest on the money quicker Spezza played Jr. A here in Owen Sound. He left. He wasn't a team player than. Ego got in the way. Looks like money, now. Spezza never played for Owen Sound.
He played for Windsor, Belleville, Mississauga and Brampton
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dennilfloss
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1 edit | reply to Deadpool
That's so he gets the signing bonus amount in one lump sum at the beginning of each relevant year rather than in bits each paycheck like the normal salary part. That way he can invest it right away. Makes no difference as far as counting towards the cap but it means the owner must give the money up front at the beginning of the season, so Melnik had to approve this.
Excellent news. |
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Clipper
join:2002-05-23
Stoney Creek, ON
| reply to Deadpool
Ottawa's gonna end up in some cap trouble with these monster contracts.
Cap hit 08/09 season:
Mike Fisher: 4.5 million.
Spezza: 7 million
Heatley: 7.5 million
Phillips: 3.5 Million
22.5 million on 4 players.
Alfredsson has an option in the final 3 years, I don't know if it's club or player. But if it's player, you know he's going to want equal money as Spezza and Heatley or he'll go restricted. So assuming it's a player option and Ottawa doesn't let the face of their franchise walk away, that's another 7 million.
RFA: Vermette & Eaves. Both are very good young players. Could fetch 2 or 3 million on the open market, and I bet teams would be willing to part with draft picks for either.
That leaves Wade Redden as a UFA needing to be signed. I can't see them letting him go. He's a top notch defenseman, could get 6-7 million based on the defenseman salaries last season.
Add that all up:
4 big players under contract: 22.5 million
2 RFAs: 4-6 million
Redden: 6-7 million
Alfredsson (if it's player option and he reupps): 7 million.
That's 39.5-42.5 million on 8 players. 8 excellent players mind you, but they still need to fill out the rest of the roster... already next year they are on the hook for 41 million, and that doesn't include RFA's(vermette, eaves), UFA's(redden), or Alfredsson re-upping....
Let's not forget the Kevin Lowe offer sheets and RFA's this summer. Could happen again next summer.
Something to be concerned about, I would think. |
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HiVolt
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| reply to dennilfloss
said by dennilfloss :That's so he gets the signing bonus amount in one lump sum at the beginning of each relevant year rather than in bits each paycheck like the normal salary part. That way he can invest it right away. Makes no difference as far as counting towards the cap but it means the owner must give the money up front at the beginning of the season, so Melnik had to approve this. Ah, I get it... Sneaky Spezza...
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BigSensFan
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| reply to dennilfloss
Clipper Alfie is signed until 11/12
The Sens have 40 million committed to 14 players. Assuming the cap goes up to 53 million, that gives them 13 million to sign 8 players
»www.nhlnumbers.com/overview.php?team=OTT
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hockey_nut
join:2003-05-13
Ottawa, Can | reply to Deadpool
That's great news since it means they won't be signing Redden to another 6.5 million deal. Philips is the leader of the Sens d, Redden is better offensively but lacks a physical game and a mean streak. |
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WNGFAN 1
join:2003-11-02
Leamington, ON | reply to Deadpool
Good signing by the Sens. A lot of other teams would have paid Spezza the same if not more. |
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Clipper
join:2002-05-23
Stoney Creek, ON
| reply to BigSensFan
said by BigSensFan :Clipper Alfie is signed until 11/12 The Sens have 40 million committed to 14 players. Assuming the cap goes up to 53 million, that gives them 13 million to sign 8 players » www.nhlnumbers.com/overview.php?team=OTT According to that site, the same one I used, 09/10 - 11/12 are option years.
Is that a player option or a team option? If it's player, you know damn well Alfredsson is going to want more than 3.8 million. |
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BigSensFan
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| said by Clipper :said by BigSensFan :Clipper Alfie is signed until 11/12 The Sens have 40 million committed to 14 players. Assuming the cap goes up to 53 million, that gives them 13 million to sign 8 players » www.nhlnumbers.com/overview.php?team=OTT According to that site, the same one I used, 09/10 - 11/12 are option years. Is that a player option or a team option? If it's player, you know damn well Alfredsson is going to want more than 3.8 million. I think it is a combination of both
according to this site it is both
»www.nhlscap.com/salarynumbers/ottawa.htm
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