Letang, Penguins reach agreement on eight-year, $58M deal

  • Arun Morace
Norris Trophy nominee Kris Letang has now agreed to a mega-deal with Pittsburgh. Photo: Harry How, Getty Images

Norris Trophy nominee Kris Letang has now agreed to a mega-deal with Pittsburgh. Photo: Harry How, Getty Images

A few days ago, Pittsburgh Penguins defenseman Kris Letang rejected an eight-year, $54M deal to stay with his current team. Following that, there was some concern as to whether or not the Penguins would be able to keep their All-Star defenseman, or if he’d walk as a free agent come June 5.

But now, those worries can be put to rest for the Pittsburgh faithful.

Letang signed an eight-year, $58M contract with the Penguins today, keeping the Pens’ All-Star trio of Letang, Sidney Crosby and Evgeni Malkin on the team for at least the next eight seasons. Letang originally wanted $7.5M/year. The original deal that he rejected would have paid around $7M/year. This new deal splits the difference, and will pay Letang $7.25M/season. As per Renaud Lavoie of French Canadian news network RDS:

Of course, with the mega-bucks deals that have been handed out to Crosby (12 years, $104M), Malkin (eight years, $76M), James Neal (five years, $30M), and now Letang, among others, the Penguins are in a bit of a tight spot when it comes to the salary cap. As Capgeek points out:

 

$1.17M/per remaining roster spot? Looks like Pittsburgh’s cutting it rather close, especially with new contracts expected for Brandon Sutter, Brooks Orpik and Beau Bennett in the coming seasons. Time for Ray Shero to prove that GM of Year award was not just some fluke.

 

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