Friday, November 02, 2007

Spezza's new deal

Jason Spezza has a new seven-year contract extension worth $49 million with the Ottawa Senators.

Spezza will get $8 million in each of the first five years of the contract and $5 million and $4 million, respectively, in the final two years. The cap hit will be $7 million per year for the Senators.
That's a lot of cake.

Dany Heatley's recent extension averages $7.5-million over the next six seasons, so barring a trade, we'll be seeing these two light it up for the Senators for sometime to come.

The players the Senators have signed beyond this season are Spezza, Heatley, Daniel Alfredsson ($4.414-mil), Mike Fisher ($4.2-million), Chris Neil ($1.2-million), Dean McAmmond ($900,000), Chris Phillips ($3.5-million), Joe Corvo ($2.625-million), Anton Volchenkov ($2.5-million) and Christoph Schubert ($883,000), as well as the two goaltenders for similar $3-million range deals.

Spezza was on a $4.5-million cap hit this season, so much of that difference can be made up by moving either Ray Emery or Martin Gerber, something that had seemed unexceptionally likely by next season anyway.

If the Senators move one of those 'tenders, and the cap stays in the $50-million range, they'll have roughly $12-million left to sign the team's remaining nine or 10 players on the roster.

14 Comments:

At 12:00 PM, November 02, 2007, Anonymous Karina said...

I don't think there was much doubt before, but Bye bye Wade Redden

 
At 12:10 PM, November 02, 2007, Blogger saskhab said...

Man... Chris Phillips really should fire his agent. He's getting paid less than Cory Sarich.

That Alfie deal is incredibly sweet for them to. Another good salary dump would be to find a taker for Joe Corvo. If they did that, dumped a goalie, got a bump in the cap, they could actually offer Redden a decent deal if he wants to stay for a little less money.

 
At 12:12 PM, November 02, 2007, Anonymous Dennis Prouse said...

Redden is a goner, but so too will be a lot of other role players for the Senators. If the Sens make another deep playoff run, a lot of those guys are going to want to cash in, and Ottawa flat out doesn't have the cap room to pay them.

The Sens are basically going to run with the NFL model - pay your stars and starters big money, and then just backfill the other spots with minimum salary guys. It may not be a bad plan -- after all, two of the more recent Cup winners, Tampa Bay and the Ducks, won by riding their gunners hard, and leaving their fourth line and third defence pairing largely stapled to the bench. Why pay any more than minimum salary for guys who are only going to get a few minutes a night?

 
At 12:12 PM, November 02, 2007, Anonymous Anonymous said...

I'm happy about it, but it's a little scary to think the Sens may end up in a Tampa-like situation, not being able to fill out their lineup because their money is tied up in 6 or 7 guys (Alfie, Spezza, Heatley, Fisher, Volchenkov, Phillips, goalie).
How can you get a good 3-4 D pairing with barely 1 mil/player?

Also, the top line may comprise over 1/3 of the team's salary, but at least it's less than their proportion of the team's scoring output.

 
At 12:14 PM, November 02, 2007, Anonymous Anonymous said...

Wonder if this means anything for resigning Kelly and McGrattan, and keeping Emery, who are all tight with Spezza..

 
At 12:24 PM, November 02, 2007, Anonymous David Johnson said...

McGratton doesn't matter. He either signs for close to the minimum $500,000 or they find a similar replacement for the same money. He isn't all that useful.

Kelly is likely gone next summer unless he wants to sign a deal for under $1.5-2 million. I suspect he'll get offered more elsewhere though.

Wade Redden is all but certain to be gone at seasons end unless he wants to take a huge discount to stay in Ottawa.

 
At 12:25 PM, November 02, 2007, Blogger saskhab said...

With the loonie trading at $1.06 USD, I have a hard time believe the cap won't climb to $55m+ next year.

It's the long term projections where it could get ugly for the Sens.

 
At 12:41 PM, November 02, 2007, Blogger Darrell said...

Basically, the raises for Heatley and Spezza equal out to Redden's salary. This year, the team is about $4.5 mil under the cap, or $3 mil under while leaving enough room for injuries and the like. This is taken up by the raise to Mike Fisher.

Assuming Ottawa trades Gerber (saving approximately $3 mil after signing a replacement backup), we should have $3 mil + the cap increase to keep the rest of our players. This likely means that Redden is gone, but no more than one of the remaining players will have to be let go (Kelly, Vermette, Eaves, Mezaros), with a chance of keeping them all.

Now, losing Redden isn't ideal, but that isn't a massive loss for the club.

 
At 1:15 PM, November 02, 2007, Blogger FAUX RUMORS said...

1) In our opinion Heatley worth exceeds Spezza's. Heatley's new contract is a big discount while the Sens appear to have paid above the market value of Spezza.
2) He puts up good numbers. certainly is immensely talented, but every time we've see him play(especially in last year's Finals) he seems to be a 'perimeter player', and shys away from contact
3) Not sure we'd build our franchise around a guy like that. Instead spending that 7 mil on 2-3 good players.

 
At 1:22 PM, November 02, 2007, Blogger P said...

The Habs called, they're excited to be the best team in their division again...

...ok, in like 3-4 years.

 
At 3:19 PM, November 02, 2007, Anonymous Anonymous said...

Who cares about long term projections?

If this was the Leafs, and they'd stacked themselves to win a Cup this year - who cares what happens after that. I'd want to see just one.

Anything after that is gravy.

I know all Ottawa fans feel the same.

 
At 3:55 PM, November 02, 2007, Blogger The Gate To The Groin For Yannick Bertrand said...

...Right, screw the long term, that formula's been working great for the Leafs so far.

Red Wings vs Lightning, Patriots vs Rams, Yankees vs White Sox: I think there's something to be said for building your team from the ground up instead of frontloading it for a year.

 
At 4:23 PM, November 02, 2007, Blogger Jamie said...

They're hardly front-loaded for a year... they're front-loaded for 4-5 years. And, unlike Tampa, it's a diverse mix of scorers and checkers. Tampa's problem isn't their method, it's their budget. If they had a top-flight D-man and goalie, they'd be a contender long term.

My only real concern for the Sens (long or short term) is if the goaltending doesn't hold up, but every team has that problem.

 
At 10:27 PM, November 03, 2007, Blogger Adam C said...

Yeah, that's been the Leafs' problem: throwing too much money at 24-year-old superstars...

Heck, if Gomez is worth $7M per season, Spezza is cheap at that price. I don't see what all the fuss is about.

 

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