Staal locked in for seven years

On Thursday, the Hurricanes announce what we all knew was coming. Eric Staal signed a contract extension for seven years totaling $57.75M.

When the Hurricanes announced this morning that they would make a "major player announcement" at 2 pm, everybody with a pulse and a clue knew what this meant.

Thanks to a tip from a reader, I know that our illustrious new beat writer -- he of the encyclopedic college basketball knowledge, missed the clue. Yes, Chip Alexander jumped to the conclusion that this "major player announcement" would be that Frantisek Kaberle had been traded. I wasn't around to see it, but the word on the street is that Alexander posted the following on LSB:

The Hurricanes have called a news conference today at 2 p.m. to make a "major player announcement."

Could it involve moving a defenseman? Someone like Frantisek Kaberle, for example? No one is saying, but keep checking back for updates.

I know Mr. Alexander is busy studying the NC State media guide and defending the honour of a convicted felon (who just happens to be the son of NCSU's basketball coach), but I find it impossible to believe that our professional beat writer missed the hint on that. Just when I was starting to back off of my anti-Alexander stance. I'll put it the same way my reader put it. "Out of touch much?".

Before any real damage was done (read: before anyone could call him out), Alexander changed his post to allude to the Eric Staal contract extension.
Of course Mr Alexander has been a professional journalist for 30 years. We bloggers are amateurs, and therefore inferior. We are expected to make mistakes because we are beer guzzling, nacho eating morons.

Anyway, back to business...

Staal has been signed to a seven year deal, averaging $8.25M per season. The new contract starts next season, when he will make $6M and will culminate in 2016, when he will make $9.5M.

This contract is pretty reasonable. Although Staal isn't among the elite of the elite, he's certainly one of the top players in the league. He's certainly the face of the franchise. From a team standpoint, it's perfect. Anything beyond seven years is a major gamble on the part of the team due to insurance reasons. If a player is signed to a deal longer than seven years, only the first seven years are covered from an insurance standpoint, so injuries become a constant source of concern.

This will certainly be a load off the fans. This will certainly be a load off the front office. It will certainly be a load off Staal. Now he can just play the game. The fans won't have to ever hold their collective breath during the summer the way we used to do with Erik Cole and his impossible contract negotiations. It's done. I haven't seen all the particular bits of the contract, but I would assume that there's a NTC in there.

This has been a good week for Hurricanes fans. Camp starts next weekend, so we'll be even happier.

Staal contract extension in the works

Today, our new beat writer with the N&O Chip Alexander tells us that Eric Staal could sign a contract extension sometime in the next week or so. According to his story, Staal might get a Crosby-type contract.

(Hurricanes GM Jim) Rutherford would not disclose the financial figures being discussed, but it is believed Staal could receive a seven- or eight-year contract that will pay him between $7 million and $10 million a year.

This is not something that Jim Rutherford does. Players don't get contract extensions until a few weeks before they become free agents. Players certainly don't negotiate contract extensions during the course of a season. Since Eric Staal is so important to this team, it will be imperative to go ahead and get this done now, before his "contract year" even begins.

As super-bionic as Rod Brind'Amour is, he won't be around forever. Including the upcoming season, Brindy has three years remaining on his contract. By the end of it, he'll be 41. Eric Staal will still only be 26, and certainly ready to assume the captaincy.

I've been on record as being against long-term contracts. I've always thought that a five-year deal is a very long commitment. These DiPietro and Lecavalier deals are a bit beyond comprehension, even for a supernova like Vinny. However, what I really like is that these deals (and a potential eight-year deal for Staal) puts a player in a sweater for life. I think that's what fans want. They don't want to have to worry if their team will be able to (afford to) re-sign their star. They really don't want to see their star go be a star somewhere else. Of course these long contracts come with standard NTCs.

Maybe I'm old fashioned, but I think that people like it that Joe Sakic has always been a Nordique/Av. People like that Saku Koivu is the eternal Hab. Nobody likes to see a superstar change sweaters. Certainly, nobody liked to see Joe Montana wearing a Kansas City Chiefs uniform, jumping around like a ..... Nobody liked seeing Ty Cobb playing for the Philadelphia As. It's not right.

Alexander Ovechkin is and will always be a Capital. That's the way it should be. Sidney Crosby is and will always be a Penguin. That's the way it should be.
Rick DiPietro? To be honest, nobody cares.
Jarome Iginla should be a Flame for life.

You see what I'm saying. Now, I don't mean to suggest that Staal is as good as Crosby or Ovechkin or Iggy or Ty Cobb or Joe Montana. There's no doubt that he's very good, though, and that he's the player that the Hurricanes and the Caniacs need to see in the red and black for the duration of his career. If it means he has to sign longer contracts, so be it.

This may or may not be a distraction for the next "eight to ten days". We'll know soon enough. For now, we're looking forward to tomorrow's presser. I won't be there, and I can't be anywhere near an internet connection, but I'll eagerly be checking my cell phone for pix messages. Hint, hint.

Miller signing has major implications in Carolina

On Friday, the Sabres announced that they have signed goaltender Ryan Miller to a five-year contract extension for a total of $31.25M. His current contract runs through this season, and he will make $3.5M. When the new contract begins, he will make $6.25M for each of the next five seasons. Crunchy is also an internationally renowned master of the pan flute, an accomplished amateur photographer, and has twice hiked the entire 2174-mile Appalachian Trail. Only one of those things is true.

This means a lot to the Carolina Hurricanes. In the summer of 2007, Carolina netminder Cam Ward was given a three-year deal that was EXACTLY the same as the three-year deal that Ryan Miller had been given by Buffalo. Cam Ward's contract runs through 09-10, and it seems likely that they will have no choice but to continue to use Cruchy's contract as a template. Barring a complete disaster, massive injury, or a late meteoric rise by Michael Leighton, Cam Ward will need to be pegged as the franchise goalie. Truth told, he's already been pegged as such. It's becoming more and more obvious that a franchise goalie is gonna have to get paid Kiprusoff money even if he can't carry a Brodeurian load.

The summer of 09 will present a much bigger challenge: Eric Staal. Hopefully, Jim Rutherford will break the silly franchise rule of not extending contracts until the final weeks before expiration. There is no doubt about the fact that Eric Staal is the face of this franchise, the captain-in-waiting. Hopefully he will be a Hurricane for life. Hopefully, they will get something worked out sooner than later so we don't have to fret about it next summer.

The big question, which is a bridge we're gonna have to burn when we get to it, is "at what cost Ward?". Assume that Staal gets a raise into the neighborhood of $6.5M. If Wardo is given the same contract and Tim Gleason and Joni Pitkanen's massive blueline contracts are taken into account, something's gonna have to give. "New, more fiscally responsible NHL"? What?

Three summers in a row since I've been paying close attention, Darcy Regier has let players walk away or slip through the cracks. This time, he did the right thing. He did the right thing by locking down their franchise goaltender, and it's a bit of a surprise. A surprise that Regier worked something out, and a surprise that the contract is as long as it is.

The only trouble is, Regier's play will force Carolina into a tough spot in the summer of 2010 when they need to re-ink Ward.

Sharpie signs the dotted line

On Wednesday, the Hurricanes announced that they have finally come to terms on a one-year deal with winger Chad LaRose. The 26-year old Michigander will make $875k in 2008-09.

LaRose, who had NHL-career highs in goals (11), assists (12) and points (23) last season, earned $500k while playing out his first one-way contract. Previously, the undrafted player had been signed to two-way deals.

The signing means that the Hurricanes have avoided arbitration with LaRose. The Canes haven't had an arbitration hearing since Jeff O'Neill was awarded $1.5M in 2000.

This is good news, but it puts the Canes about 4M over their budget. After Kaberle and his $2.2M get moved out, they'll be close enough.

Ruutu signs; Tanabe and Hamilton clear

On Tuesday, David Tanabe and Jeff Hamilton both cleared waivers. The Hurricanes will set the buy-out ball in motion. Tanabe will have to be examined and deemed healthy before this can take place, but the Hurricanes are taking the position that he is in fact healthy.
Jeff Hamilton seemed like a nice guy, and he got off to a roaring start here. However, after he settled down, things just weren't working. After notching 12 (4/8) points in the first 15 games of the season, he only mustered 12 (5/7) in the next 44 games. He also spent some time in the press box and some time soldiering away up in Albany. He had nine (3/6) points in nine games with the River Rats. Sadly, he and his smoky visor won't be back in Raleigh.

Tanabe's health continues to be a mystery. While I have certainly suggested that he's milking the injury for all (or more than) it's worth this move has nothing to do with Tanabe's injury. The CBA is quite clear about buying out injured players. Even when healthy, Tanabe would be scratched while guys like Tim Conboy were recalled from Albany.

Fortunately, fans of Tuomo Ruutu were able to finally stop holding their breath. Sort of. Today, he was signed to one of those dreaded one-year contracts. He'll get $2.25M. Ostensibly, this was done because it was, as Luke put it "the path of least resistance". The two sides have been unable to find a common ground on salary and duration of contract, so they just did this to get something done. Next July 1, he will be eligible to become a RFA. That aspect of the deal works out better for Carolina, but they had to pay a little more up front than they really wanted to.

After being acquired via trade with the Blackhawks, Ruutu quickly became a crowd favorite and he put up 11 (4/7) points in 17 games.

Coincidentally, Andrew Ladd (whom Ruutu was traded for) re-signed with the 'Hawks yesterday. In 20 games with Chicago, Ladd notched 12 (5/7) points. He was signed to a two-year deal, which will pay him $1.45M in 08-09 and $1.65M in 09-10.

With Ruutu signed and Hambone gone, Carolina still has 10 forwards and four defensemen signed. I suppose Chad LaRose will be the next to re-sign. Then defenseman Dennis Seidenberg. There are several free agents-to-be who need to be signed for Albany's sake, but they are all RFAs, so there's really no rush.

After LaRose and Seidenberg, the next order of business will be to wait till July 1, then go after a name-brand blueliner in the FA market. It's pretty much a foregone conclusion that Brandon Sutter will be the last piece of the puzzle, and he'll be snapped (forced) into place after the pre-season exhibition games.

Good day for Gleason, Canes

On Thursday afternoon, the Hurricanes announced that they have finally come to terms with defenseman Tim Gleason. The 25-year old, who was arguably Carolina's best blueliner last season was scheduled to become a RFA on July 1, but after months of difficult negotiations, the two sides have agreed to a four year $11M deal. Last year, Gleason made $1.175M.

Timmmmmaaay will make $2M in 2008-09, and his salary will increase by $500k every year, culminating in a $3.5M payday in 2011-12. His raise is well-deserved and his long term contract will be much appreciated by the Caniacs. Carolina's defense was, at times, dreadful last season. Gleason was the only player who was consistently good.

Gleason will join Joe Corvo, Frantisek Kaberle and Nic Wallin as the top four defensemen. Carolina still has to get RFA-to-be Dennis Seidenberg re-signed and acquire one other defenseman via trade or free agency. There isn't a Hurricanes fan anywhere who would object to going after John-Michael Liles in free agency.

It's still very early, but I will continue to say, as I have said all along that Carolina is much happier with Tim Gleason than they could have possibly been with an arrogant, petulant player in Jack Johnson. Gleason hasn't fully ripened yet, and Jack Johnson probably hasn't even started, but I'll take Gleason any day of the week and twice on Sundays.

Samsonov signs three year deal

On Wednesday, the Hurricanes announced that they have re-signed winger Sergei Samsonov to a three year deal valued at $7.6M. Next season, he will make $2.3, followed by $2.5M in 2009-10 and $2.8M in 2010-11. Last year, he made $3.525 between the Blackhawks and the Canes.

I'm pretty excited. He was an excellent waiver wire acquisition who snapped into place immediately. In 38 games with the Canes, he registered 32 (14/18) points. Only Eric Staal was more productive in that stretch.

The chemistry will be decidedly different in the fall. Rod Brind'Amour will presumably be recovered from knee surgery. Justin Viva Williams will be recovered from his knee surgery. Matt Cullen and Ray Whitney will be recovered from their ailments.

There is some apprehension about this deal from some of my peers, but I'll say that I like it. And I don't feel the need to qualify that with any conditions or caveats.

The cap hit of $2.53 is a damn good price to pay for a guy who won the Calder Award and who has shown the ability to perform at nearly a point a night. He has scored 70 or more points twice in his career, and even when you count the lean years, he still comes in at an average of .69 points a night for his career. His 32 points in 38 games translates to 69 points in a full season.

A lot of Caniacs think that it's urgent that the Hurricanes re-sign Tuomo Ruutu. I'm not one of those. If it doesn't happen, I won't be heartbroken. If it does, I won't be relieved or excited. Jeff "Alexander" Hamilton looks like the early favorite to be the odd man out come spring. With Brandon Sutter a likely candidate to join the big team, there just won't be enough room for everybody.

Chad LaRose will be re-signed, and I would bet that Patrick Eaves will.

If Hamilton, who is still under contract for one year, survives the summer without being traded, he will most likely find himself in Albany.

Carolina's next most important order of business will be to acquire some NHL-caliber defensemen. Bret Hedican will retire. Glen Wesley might also. No matter what, they're in desperate need of some help on the blue line.

Anyway, we're very glad to have Sergei on board as a full-time member of the Hurricanes family.

looking to the offseason

Carolina technically is still in the running for a playoff position. I'm pretty confident, however, that Washington will get at the very least one standings point tonight. That will end the Canes season and begin the re-signing season.

We're all hoping that at some point, preferably tomorrow morning, Bret Hedican announces his retirement. I'm sure he's a nice fella. He's a terrific skater and a consummate teammate, but he just isn't any good as a defenseman anymore. Sure, he's tops on the team in +/- rating, and he's way up there in blocked shots. Sure, he's up there in takeaways. Sure, he makes a dazzling play once in a while. However, he blows coverage a lot, lags behind plays, refuses to hit, and is a source of constant frustration. I've been ready for him to retire for a long time.

When he retires, the Canes will have just three defensemen under contract. Later on, I'll evaluate the forwards, but for now, I'll look at the defense.

Frantisek Kaberle is signed through 2010 and his cap hit will be $2.2M next season.
Nic Wallin is signed through 2010 and his cap hit will be $1.725 next season.
Joe Corvo is signed through 2010 and his cap hit will be $2.75 next season.

Hedican will retire.
Glen Wesley may retire, but it wouldn't hurt my feelings one bit if he signed on for another year at $1.4M

Tim Gleason made $1.175 this season and is scheduled to be a RFA. I think he needs to be re-signed. Maybe with a slight raise. Let's say $1.3M.

Dennis Seidenberg played well this season for $850k and will be a RFA. I'd like to see him back, but I wouldn't be surprised if he signed elsewhere.

Tim Conboy made $550 on a two-way contract this season and will be a RFA. I'd really like to see him back with a two-year extension.

Casey Borer is under a two-way contract through next season. He won't be a full-time NHLer, but he'll see time.

For sure, I think we'll see Conboy and Gleason signed to extensions.
Although I like Seidenberg, I think he'll end up somewhere else.

The Canes will have to make at least one move for a defenseman in free agency. Even if Glen Wesley decides to stick around. I can't possibly speculate at this point, but I think the thing to do will be to get a defensive defenseman.

That's it for now. Later on, the forwards.