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Zetterberg Contract Extension


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#1 YzerFan19

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Posted January 27, 2009 - 09:49 PM

As mentioned in the http://forums.detroi...?showtopic=2096"</a>">GDT for the Blue Jackets game, John Keating confirmed during Red Wings Live postgame that the Red Wings and Henrik Zetterberg have agreed to a long-term contract extension.

A 2:00 PM press conference has been called for tomorrow to announce the deal.

Recent rumors put the contract at roughly $70 million over ten years.

#2 YzerFan19

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Posted January 28, 2009 - 11:49 AM

The Wings have officially announced that the deal is for 12 years. The rumor is that it's for $72 million, meaning a cap hit of "only" $6M.

#3 YzerFan19

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Posted January 28, 2009 - 01:46 PM

I'm going to get some of my thoughts out of the way before this deal is officially announced.

One of the comments I heard today was "I would have only done six years." That kind of comment bothers me.

If the rumors are true, this deal is structured so that its length is what pays for the incredibly nice cap hit. The last two years of this deal are supposedly at $1 million each. Zetterberg does not sign a six-year deal where the last two years are that low, which means your six year deal has a cap hit of $7 million instead of $6 million.

Yes, the length is something to be worried about but because of when it's being signed the Wings have several outs.

Zetterberg is signing this while he's under 35 so if he has to retire early, the cap hit disappears. If he's ever stuck going on long-term injured reserve, his cap hit disappears. If he ever has to be bought out (due to the cap decreasing or his abilities decreasing or whatever) the deal is front-loaded so the buyout will cost the Wings less.

Basically, Ken Holland has done everything he can to protect the team here, and I trust that.




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