confirmed: MTL Re-Sign G Carey Price to 8-Year/$84M Extension; $10.5M AAV

[Phil]

:tweet: @Dave_Stubbs: #Habs Carey Price said it would get done. Oh my, did it get done. Eight-year extension, $10.5-million AAV

 

:tweet: @PierreVLeBrun: So $70 million worth of signing bonuses in Price's $84 million contract. Wow.

[Phil]

That signing bonus bit is insane. This is now buyout proof.

 

 

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[Parsley]

OOOF.

 

 

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[Long live the King]

Hopefully this ends the complaining about Hank's $8.5...

[Shane Falco]

Holy fuck. Talk about buyout protection. Does hanks contract even have that?

[The Dude]

Really thought Lundqvist was going to be the last goalie to get a big contract. Good. What a dumb move by the Habs.

[Phil]

Holy fuck. Talk about buyout protection. Does hanks contract even have that?

 

Nope. Descending salary, yes, but his contact carries a one million dollar sitting bonus. That's it. The rest is salary.

 

 

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[Kevin]

They are going to be hating this contract in 4 yrs. I'm sure it comes with a full nmc as well.

[Cash or Czech]

That signing bonus bit is insane. This is now buyout proof.

 

 

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Can you please explain the buyout implications of a bonus-laden contract? I'm not sure I've ever read what the deal with them is and why it makes them "buy-out proof".

[jjweimar]

Can you please explain the buyout implications of a bonus-laden contract? I'm not sure I've ever read what the deal with them is and why it makes them "buy-out proof".

This is what I'm trying to figure out. Thank you for asking I was going to later

 

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[Rangers]

And I thought Hanks contract sucks for us, Montreal didn't learn anything from Rangers.

[Phil]

Buyouts occur on NHL salary. Signing bonuses are 100% guaranteed. To buyout Price, you'll never actually save anything. Because the vast majority is bonuses.

 

Same with Ladd, Okposo, Lucic, and Clarkson contacts.

 

If the Isles buyout Ladd, for example, they will be hit with $4.834M in charges for the first six years, and an additional six at $333,333. The"savings" is a difference of just over $660K from his cap hit. So what's the point?

 

 

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[Myusername]

I don't know what's worse here - the length or the dollar amount.

 

It probably isn't any worse thank the Hank contract though - which was likewise terrible.

 

The funny thing is Halak that one year took the Canadiens further than Price has taken them since. His postseason performances haven't really mirrored his regular season ones

[Karan]

8 year contract to a 29 year old worth $10.5M per year?! Ouch! His best years are likely behind him. It's all downhill from here...

[Phil]

I don't know what's worse here - the length or the dollar amount.

 

It probably isn't any worse thank the Hank contract though - which was likewise terrible.

 

The funny thing is Halak that one year took the Canadiens further than Price has taken them since. His postseason performances haven't really mirrored his regular season ones

 

Neither. The answer is the structure. The fact it's prediminatly signing bonuses completely locks them into the player regardless of injury or performance. There's literally no way out.