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Zetterberg - 12 year extension

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DETROIT (AP) -- A report says the Detroit Red Wings have agreed to a contract extension with left wing Henrik Zetterberg that could pay him more than $7 million a year for 10 years.

A story on The Ann Arbor News's Web site says the team plans a news conference Wednesday afternoon in Detroit. The story says owners Mike and Marian Ilitch, general manager Ken Holland, coach Mike Babcock and vice president Steve Yzerman will attend.

The 28-year-old native of Sweden is in his sixth NHL season, all with Detroit. He has 43 points in 45 games this season.

A message seeking comment was left late Tuesday for team spokesman John Hahn.

Zetterberg agent Gunnar Svensson tells the Swedish paper Aftonbladet his client might sign a 10-year deal worth about $71 million.

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I read 12 years, 72 million which is a $6 million cap hit which means it is possible to keep both Hossa and Franzen if both take slight discounts. A $6,000,000 cap hit is unreal. Like outside of him signing a 6 year deal with that cap hit, this is the best case scenario.

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I just got a text saying 12 years $72M, but that seems a bit long to me, and I couldn't find an official source.

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I just got a text saying 12 years $72M, but that seems a bit long to me, and I couldn't find an official source.

It's on mlive. That locks him up until he's 40 which is a little worrisome given his back problems, but it opens the door for a number of possibilities.

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It's on mlive. That locks him up until he's 40 which is a little worrisome given his back problems, but it opens the door for a number of possibilities.

It is. OH MY GOD, Holland is a genius. The first two years are $1M/year (LOL) then the last ten at ~$7M each.

Take THAT salary cap!

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And he left tonight's game with another flare up of his chronic back problems. Uh-oh! :wink:

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It is. OH MY GOD, Holland is a genius. The first two years are $1M/year

HOSSAAAAAAAAAAAAAAAAAAAAAAAAAA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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The young guns on LGW are whining about it being such a long deal. I, on the other hand, don't give a damn. Hell, there's a 50/50 chance I'll be dead by then. The future is NOW, lol.

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It's a great deal. It's also great news. But there's no way in hellalunia that I think seven years from now, if Zetterberg is still in his prime, that he's going to be still making 7 million a year. It'll probably be re-negotiated in like, 4 or 5.

Still, it's a good deal for the Wings and gives them options down the road.

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The young guns on LGW are whining about it being such a long deal. I, on the other hand, don't give a damn. Hell, there's a 50/50 chance I'll be dead by then. The future is NOW, lol.

The opinion seems to be pretty split at LGW. Then again, everyone hated the Datsyuk deal, so nobody really knows. I think it's a good deal that allows us a lot more flexibility in keeping this team together.

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is he getting exclusive rights to Little Ceaser's franchises in Sweden or something?

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Wow. that's unreal. 12 years is a really long time so I hope that doesn't bite us but in reality it doesn't even matter if it does towards the end of his contract with what a bargain it is otherwise. 1 million for the next two years? The Red Wings just became even more hated around the league.

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It's a great deal. It's also great news. But there's no way in hellalunia that I think seven years from now, if Zetterberg is still in his prime, that he's going to be still making 7 million a year. It'll probably be re-negotiated in like, 4 or 5.

Still, it's a good deal for the Wings and gives them options down the road.

Under the NHL CBA you cannot restructure deals. The only negotiations allowed are extensions, and those can only be discussed after January 1st in the last year of a deal.

EDIT: Correction. The January 1st date only applies to 1 year contracts, the rest can be extended anytime during the final year.

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I believe that the $1 million years are at the end of the deal, otherwise the cap hit will go up over the next two years, and that would be a bad thing considering the cap is expected to go down over that same time period.

Front loaded vs Back loaded....

    Front loaded            Back loaded
Year Actual $M Cap Hit $M Actual $M Cap Hit $M
1 7 6.000 1 6.000
2 7 5.909 1 6.455
3 7 5.800 7 7.000
4 7 5.667 7 7.000
5 7 5.500 7 7.000
6 7 5.286 7 7.000
7 7 5.000 7 7.000
8 7 4.600 7 7.000
9 7 4.000 7 7.000
10 7 3.000 7 7.000
11 1 1.000 7 7.000
12 1 1.000 7 7.000
Total 72 52.761 72 82.455

EDIT: This is wrong. It's a straight up average. I've misunderstood cap hits for over 3 years now. Whoops!

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