Big deals in the modern NHL are becoming the norm. That will force some key players into even more crucial decisions. Should they prioritize earnings as they lock into massive extensions or winning?
Not every star is driven by the same motivation. Players like Alex Ovechkin and Kirill Kaprizov have set precedents of signing monster deals that heavily favor individual wealth, while Sidney Crosby and Connor McDavid seem happy to settle for slightly lower average annual values (AAVs) to prolong their teams’ championship windows.
In 2008, Ovechkin negotiated his 13-year, $124 million contract extension —the largest NHL contract at the time —without an agent. His deal was less about a negotiation and more about him walking into the office of the Capitals and putting a number on the table. They gave it to him.
It was a monster deal that worked out for both sides, but it took the Capitals a decade to finally win a Stanley Cup.
Ovechkin had already become a Washington Capitals legend, and the team wasn’t about to let him walk away knowing he was the sole reason fans bought tickets. He was invaluable to their market, even if there was a chance the team would be less competitive because it would be harder to build around him.
Ovechkin understandably knew to chase high numbers. His value in that market was undeniable. But anyone who argues he was thinking team first is probably fooling themselves.
Fast forward to this summer, where Kirill Kaprizov’s new eight-year, $136-million contract with the Minnesota Wild guarantees he will earn the most money ever handed out in the NHL. This is a good player, but he’s likely not as good as Ovechkin was in his prime. Like the Capitals’ great, Kaprizov understands how important he is to the Minnesota market. He played that hand, leveraging another $1 million per season after reportedly turning down $16 million per year. The challenge for Wild GM Bill Guerin is how to build around a $17 million winger.
Which Pending NHL UFAs Will Kaprizov’s Major Contract Extension Affect?
Minnesota Wild left winger Kirill Kaprizov reset the market this week, signing an eight-year, $136 million extension that carries a $17 million average annual value.
Contrast that to Crosby and McDavid.
Both have already established their legacies to some degree — Crosby with three Stanley Cups in Pittsburgh, McDavid as Edmonton’s face man and a perennial MVP candidate — but their contract decisions suggest an even greater commitment to putting the team in a position to win.
Crosby infamously signed extensions below the maximum amount he could have negotiated, insisting that he wanted the Penguins to be able to retain other star players and remain competitive.
McDavid, who is reportedly negotiating his next contract and has expressed a desire to sign a deal that allows the Oilers to build around him and become legitimate contenders for the next several seasons (which includes adding more impact players), could theoretically take less than Kaprizov.
Both have been and appear willing to forfeit prime earnings in exchange for the possibility of contending for the Cup in his prime years.
Why Connor McDavid Shouldn’t Consider An Oilers Discount After Kaprizov Signing
News that Minnesota Wild superstar left winger Kirill Kaprizov signed an eight-year contract extension Tuesday sent ripple effects throughout the NHL – most notably, in Edmonton, where Oilers dynamo Connor McDavid is in need of a contract extension.
Which Is The Right Direction For a Player To Take?
This is not to suggest that the different mindset among top players means there’s a right and a wrong. Financial security is essential for any athlete. There’s no knowing how long a career will last, and if the money is available, the popular move might be to take it.
For Ovechkin and Kaprizov, they knew their value and each took the money the team was willing to pay. They left it in the hands of their respective GMs to figure out the rest. In Ovechkin’s case, it eventually worked.
The mentality of franchise pillars like Crosby and McDavid might actually be rarer. The new McDavid deal hasn’t been announced, and there is a chance it’s higher than people expect; however, insiders believe he’ll sign a lower AAV that will surprise most fans. Perhaps following Crosby’s lead, many players wouldn’t go this route, even if it’s ultimately best for the team.
These two stars have asked their teams to build competitive rosters with the money left on the table. That doesn’t always work either. In McDavid’s case, his rumored shorter-term deal might be a way for him to continue applying pressure on the Edmonton Oilers to get it right.
Ultimately, the NHL’s stars are motivated by money and championships. The question becomes, which takes priority?
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