The deal is eight-Years, $76 Million. It's a $9.5 million cap hit per season. That's more than Crosby per season, but still decent. It's much less than he could have received as a free agent.
Via the Pens:
The Pittsburgh Penguins have agreed to terms with forward Evgeni Malkin on an eight-year $76 million contract extension, it was announced today by executive vice president and general manager Ray Shero.
The deal begins with the 2014-15 season and runs through the 2021-22 campaign, and has an average annual value of $9.5 million. He will earn $9.5 million for each of the eight seasons.
Malkin, 26, is one of just three Penguins in franchise history to win multiple Art Ross Trophies as the NHL scoring leader (2012, ’09), joining Mario Lemieux and Jaromir Jagr. He has also won the Hart Trophy (2012), Ted Lindsay Award (2012) and Calder Trophy (2007). A three-time 100-point producer and a four-time 30-plus goal scorer, Malkin has been named team MVP on three occasions (’08, ’09, ’12); earned a spot on the NHL’s First-Team All-Star squad three times (’08, ’09, ’12); and has been named to four NHL All-Star Games (’08, ’09, ’11, ’12).
The bad news is that, as the highest-paid player on the team, people will be even quicker to criticize him and blame him for everything than they are now.
The good news? Evgeni Malkin will be a Pittsburgh Penguin for a long time.
We'll take it.