Surprising amount of long-term NHL deals
Associated Press
8/4/2005 5:30:59 PM
At last weekend's NHL draft, GMs seemed to think the long-term deal would be a thing of the past because of the need to avoid taking up valuable salary cap space years in advance.
Think again. A high number of big-name players got lengthy contracts once free agency opened this week.
"What I didn't expect was so many long-term deals," New Jersey Devils CEO and GM Lou Lamoriello said Thursday on a conference call. "You have to do today and prepare for tomorrow. We don't know where the cap will be next year or the year after.
"Once you get into three-, four- and five-year contracts, you're putting yourself into a bind."
Lamoriello has bucked the trend, limiting Brian Rafalski, Vladimir Malakhov and Dan McGillis to two-year deals Thursday. And Peter Forsberg settled for two in Philadelphia and Brian Leetch only one in Boston, although that was because neither expects to play past those contracts.
But most of the big names demanded long-term deals:
Sergei Gonchar, Mike Rathje, Mike Modano and Chris Pronger got five-year contracts.
Four-year deals went to Scott Niedermayer, Glen Murray, Dave Scatchard, Alexei Kovalev, Mathieu Dandenault, Derian Hatcher, Alexei Zhitnik and Adrian Aucoin.
Adam Foote, Jarome Iginla, Markus Naslund and a slew of others got three-year deals.
Blue Jackets GM Doug MacLean, who signed Foote, acknowledges doing long-term deals has its risks.
"Every deal I do I've got my financial guy sitting with me on every move, because the impact of long-term deals can be dramatic for your franchise," MacLean said.
Bruins GM Mike O'Connell agrees it's a risk, but says the market dictated what happened. Especially in his case, since he entered the week with only five players under contract and needed to be aggressive. He signed off on a pair of four-year deals (Murray and Scatchard) and one three-year commitment (Alexei Zhamnov).
"We are very concerned about that (cap space) going forward but I had no options," O'Connell said. "I had to sign guys."
With salaries being limited by a salary cap, no player can earn more than $7.8 million this year. That number will likely drop next summer because revenues are expected to be reduced, so length of contract has become a major issue.
IMG agent J.P. Barry got long-term deals for clients like Daniel Alfredsson, Sergei Fedorov, Mats Sundin and Jaromir Jagr well before the lockout.
"When it became clear a few years ago that the overall reported league revenue growth numbers were levelling off, it made sense that we could be more comfortable with doing a term deal," he said. "Of course the player had to be comfortable with the team environment but once that issue was satisfied, term deals were as major an issue as the compensation."
Barry believes that's only going to become more paramount moving forward.
"I think many clubs believe it is critical to have their core players under contract so that they can plan the rest of their team around them going forward. How can you have a long-term plan if you don't at least have a semblance of your core? Increased player mobility in this new CBA has probably accelerated this trend so I think the issue of term will continue to be a key theme."
Cheers,
Aquaman