Kris Letang signs a massive extension, what does that mean for Evgeni Malkin?
Yesterday Penguins GM Ron Hextall said that he would like to have Kris Letang's new contract done before leaving Montreal. Hextall did one better and got the deal done before the draft even begins. The Pens and Letang agreed on a 6-year deal worth $36.6M, with an AAV of $6.1M per season. The deal will take Letang To age 41, making him a Penguin for the rest of his career.
The AAV is not out of the ballpark from where it should have been, but the term is just bananas. Half the term is easily digestible, but at 6 years, that deal has the potential to become one of the worst contracts in the NHL awfully quickly. Letang was rumoured to be looking for a 5-6 year term, so it looks like he got his wish. Thankfully, the cap is due to jump significantly by the time Letang begins what should be a rapid decline in his late 30's.
The deal does help the Pens' salary cap as it comes in $1.125M per season less than Letang's previous deal. That makes you wonder, does the money saved on Letang's new deal go towards an extension to Malkin who has said he won't take a discount? It's quite possible. Now that Letang has a new deal, Hextall will be focused on the draft the next couple of days before re-engaging in talks with Malkin before he hits free agency next Wednesday.
