The St. Louis Blues today announced the re-signed of Alexander Steen to a three-year, $17.4 million contract. Steen was eligible for UFA status in July.
SPECTOR’S NOTE: The deal breaks down to an average annual cap hit of $5.8 million, which is a considerable raise over the $3.362 per season of his current deal. Still, he may have left some money on the table to remain with the Blues, as given the season he’s having he would’ve made considerably more on the open market.
Steen obviously wanted to remain with the Blues, who seem poised for perennial Stanley Cup contention, which also explains the no-trade clause in the deal. Given Steen’s age (29) the tenure is very reasonable. It remains to be seen, however, if Steen is a late-blooming scoring star, or if the Blues overspent based on a career year.
His new contract pushes the Blues payroll next season to over $48 million invested in 15 players.