I've been told that the Penguins and Kristopher Letang are close to a deal. Small details to resolved and contract will be official. #RDS
— Renaud Lavoie (@RenLavoieRDS) June 30, 2013
Kris Letang has been re-signed by the Penguins
— Joe Depto (@JoeDepto) June 30, 2013
I think I am only one of three people that is excited by this news. I have been pretty vocal that the Penguins needed to resign Letang but I also understand the other side of the argument.
Things aren't finalized and terms aren't released but it seems like it is all but a done deal.
According to @RenLavoieRDS, seems #Pens and Kris Letang have found common ground, only a few details to address before deal is finalized
— Mike Colligan (@MikeColligan) June 30, 2013
A lot of people won't like this deal, but I do (without seeing the terms, but Ray Shero is a pretty sharp guy on this stuff and if it is true which it seems to be).
I think what gets lost in all of this is the long term implications. If he is extended for seven or eight years he is still going to be at a $3.5M cap hit this coming season before his salary goes up. The next year things will be tight but most are predicting the cap will be $70M in three years or so and as much as $80M in five years. This Letang deal (if it happens) will look like a great deal when the cap is up. The deal might look bad in the short term but I think Shero is really looking at the long term implications with this deal which might turn out to be great. (Assuming the deal is around $7.5M ish which is should be).
Might have some stuff on this later. Maybe not. Who knows. Go Bucs.
UPDATE: Deal is eight years, $58M
Kris Letang's contract is an 8 year deal worth 58 million with a NTC.— Joe Depto (@JoeDepto) June 30, 2013
Kris Letang contract with Penguins. 8 years / 58 M (#58!) 7.25 AVV Limited no trade to 15 teams. #RDS— Renaud Lavoie (@RenLavoieRDS) June 30, 2013