Various sources report this morning the Pittsburgh Penguins have re-signed forward Evgeni Malkin to an eight-year, $76 million contract extension, effective 2014-15.

Evgeni Malkin re-signs lucrative, long-term deal with the Penguins.

Evgeni Malkin re-signs lucrative, long-term deal with the Penguins.

 SPECTOR’S NOTE: Well, that didn’t take long, did it? Both Malkin and Penguins management stated their desire to get a deal done as quickly as possible, and as I expected, he took a hometown discount to leave more money for GM Ray Shero to make other signings. The cap hit works out to be $9.5 million per season, more than Crosby’s $8.7 million, but nowhere near the cap maximum of $12.86 million.

I’m sure there will be some folks in the NHLPA grumbling over Malkin taking less than market value, but this was necessary if the Penguins are to have sufficient dollars in the coming years to bolster their roster.

 

There was never any doubt Malkin would re-sign or that the Penguins would offer him a lucrative long-term deal. It reflects the commitment both sides have made toward maintaining a contending franchise.

Now, the focus shifts to Kris Letang who is eligible for UFA status next summer. Remains to be seen if he’ll also accept a hometown discount, but at least Malkin leaving some money on the table provide additional to put toward Letang.

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3 Responses to Penguins Re-sign Malkin.

  1. Steve says:

    Good move to get Malkin signed asap. Both Malkin and Crosby have taken the home town discount before instead of going to the open market and getting more – that is what leadership does. Its a good contract and the $ aren’t shabby. Now they just need to get Letang in the fold

  2. shawn says:

    thats a discount lots of laughs.9 million to do nothing in playoffs thats crazy,yes hes a great player but 9 million no way.

  3. Rob says:

    Shero is making a big mistake. He has too much $$ tied up in too few players. The Bruins are the bench mark for the league and they have no contract over $7M. That allows them to roll depth all the way through the line up and pay for offense, defense and goaltending. If two players could win a championship, the Pens would win every year, but it takes a whole team. I don’t see them as contenders going forward. They didn’t win this year and there is no way they are going to get better with a shrinking cap.

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