Penguins' deal with Letang held up; team won't guarantee he won't be traded next summer
NEWARK, N.J. — The Penguins' up-and-down negotiations with defenseman Kris Letang continued Sunday.
Framework of the potential deal's length (eight years) and finances ($58 million total) were agreed upon, but there was haggling over Letang's push for a verbal agreement the Penguins will not trade him next summer, multiple sources told the Tribune-Review.
The Penguins balked at that request.
The NHL labor contract does not allow for revisions to existing deals.
Letang's current contract, which does not include a limited- or no-movement clause, is set to expire July 1, 2014.
Penguins general manager Ray Shero declined to get into specifics of talks with agent Kent Hughes but said discussions will continue Monday.
“Later (Saturday night) is when it turned a little more positive,” Shero said. “(Sunday morning) trying to wrap things up, we were still not there yet.
“We'll get back at it and see if we can close a couple of gaps here and there. Hopefully that will be the case.”
Hughes said of the negotiations: “We're still working on it.”
Framework of the proposal calls for Letang to count $7.25 million annually against the salary cap on a maximum-length contract for eight years. Only Nashville's Shea Weber ($7.86 million) and Minnesota's Ryan Suter ($7.54 million) would have higher cap hits among NHL defensemen.
Letang, 26, has aspired to be in the cap-hit neighborhood of Weber and Suter since those players agreed to their long-term contracts last summer.
Letang would not receive a full no-movement clause — a concession the Penguins require to pay him more than $7 million annually on a max-level term. Instead, Letang would receive a limited-movement clause, which would free the Penguins to trade him to one of 15 approved clubs at some time during the contract.
Shero proposed two structures for Letang's new contract Saturday. The other was for a four-year deal at $30 million (total), and it would include a full no-movement clause.
Had the sides not moved close to a deal, the Penguins would have shopped Letang aggressively on the entry draft floor. Shero previously had heard from interested clubs, including Montreal, San Jose and Philadelphia, and he chatted at the entry draft with general managers from Los Angeles and Vancouver.
The NHL labor contract does not permit the signing of a contract until Friday, when the new season officially begins.
The Penguins originally had shown no desire to have Letang count more than $7 million against their future salary cap allotments. Letang, anticipating a league-wide cap increase in his free-agent summer, initially had sights set on an annual value closer to $8 million.
The cap is set for $64.3 million next season, but with at least $3.3 billion in revenue projected by NHL commissioner Gary Bettman, the Penguins are among many clubs confident the cap will increase significantly in years after next season.
On their new contracts, centers Sidney Crosby and Evgeni Malkin would combine to count no more than 28.3 percent against the Penguins' future cap allotments if the cap increases. Malkin, who agreed to an eight-year contract earlier this month, will count $9.5 million against future caps. Crosby, set to begin Year 1 of a 12-year deal, brings an $8.7 million cap hit.
At about $25.5 million for Malkin, Crosby and Letang, the Penguins would have the most cap commitment to three players starting in the 2014-15 season. The next closest club would be Washington at about $22.3 million for winger Alex Ovechkin, center Nicklas Backstrom and defenseman Mike Green.
Shero reiterated Saturday that he preferred to build around Crosby and Malkin — each former MVPs and scoring champions — and Letang, whose point-per-game average has increased the last three seasons. Shero believes Letang's best days are ahead, and Penguins coaches are confident that Letang will continue to improve defensively.
Letang has scored 44 goals and produced 209 points in 385 regular-season games. He also has recorded 47 points in 80 Stanley Cup playoff games, a .588 per-game average when competition turns toughest.
The Penguins also believe Letang is suited for an expanded leadership role, which will begin with a full-on mentoring of Simon Despres, who occasionally played with Letang during his rookie season.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Zatkoff’s, Malkin’s heroics not enough as Oilers down Penguins in shootout
- Penguins lose hard-fought game to Blue Jackets in overtime
- Penguins notebook: Dupuis’ intangibles provide 1st-line value
- Penguins notebook: Players prepared for tough schedule in minors
- Dumoulin-Lovejoy combo emerges as Penguins’ go-to defensive tandem
- Hard-hitting Penguins veteran winger Kunitz is last of a dying breed
- Penguins notebook: Cole more at ease facing former team