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Johathan Toews And Patrick Kane Agree To Contract Extensions Through 2022-23 Season

from the Chicago Blackhawks,

The Chicago Blackhawks announced today that the team has agreed to terms with forwards Jonathan Toews and Patrick Kane on eight-year contract extensions, which run through the 2022-23 National Hockey League season. A formal press conference will be held at the United Center next week, with day and time being announced at a later date

continued

 

added 1:23pm, Statements from all involved are below, via the Blackhawks....

Chairman Rocky Wirtz:

“When we started our journey we made a commitment to our fans to be relevant and to see the Chicago Blackhawks become the best professional hockey organization. There are not two finer symbols of that than Jonathan Toews and Patrick Kane. The commitment we have made to these incredible young men is equal to the commitment they have made to our team, our fans, our entire organization and the city of Chicago. We are excited for our future and proud that they will continue to be a part of that commitment and success for years to come.”

President and CEO John McDonough:

“The signings of Jonathan and Patrick symbolize an important milestone in franchise history. We are driven by the pursuit of consistent excellence and today is a huge step forward.”

Vice President and General Manager Stan Bowman:

“Jonathan and Patrick have become cornerstones of this franchise during their time in Chicago. We are excited to ensure they will continue to lead our organization for years to come.”

Jonathan Toews:

“I could not be more grateful for the amazing moments and opportunities I've been given by the Chicago Blackhawks. There's no organization in sports that cares more about the overall experience of their fans and the success of their players. To have the chance to continue with this amazing group of teammates and people throughout the organization is an incredible honor. There's nothing we want more as players than to continue to win Stanley Cups for the best hockey fans on the planet.”

Patrick Kane:

"It's great to be able to continue my career in Chicago. Playing with the best organization in sports and the best fans in the game is a blessing. Since I was drafted by the Blackhawks, the people of Chicago have really embraced me and treated me with nothing but respect. I look forward to many more years of success with the Blackhawks."

CAA Co-Head of Hockey Pat Brisson:

"Jonathan and Patrick are among the most dynamic and impactful players in the NHL today. The great support the Blackhawks organization has shown them over the past seven years has been instrumental to their accomplishments on the ice. It has been a great partnership and we look forward to continued success.”

Filed in: NHL Teams, Chicago Blackhawks, | KK Hockey | Permalink
  Tags: jonathan+toews

Comments

shazam88's avatar

Not even on CapGeek yet but I am so hoping the cap doesn’t go up nearly as much as anticipated next year.

Posted by shazam88 from SoCal on 07/09/14 at 01:10 PM ET

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Chicago is the next Pitt, all the eggs in one fragile targeted basket

Posted by Bay Area Wings fan on 07/09/14 at 01:11 PM ET

TreKronor's avatar

That’s a large cap percentage for 2 dudes who each score twenty-some goals a year on average.

Posted by TreKronor on 07/09/14 at 01:17 PM ET

LivinLaVidaLockout's avatar

I don’t see how you don’t give them the money and the term if the alternative is players that young and that good leaving… but I really hope these eventually become albatross contracts.

Posted by LivinLaVidaLockout on 07/09/14 at 01:20 PM ET

NHLJeff's avatar

Incredibly high cap hit, and I was thinking they could potentially be talked down closer to $9M for the sake of the team, but as the cap rises, these may look like OK deals in the long run…

Posted by NHLJeff from Pens fan in Chicago, IL on 07/09/14 at 01:21 PM ET

Paul's avatar

Statements from all the involved parties added to the post.

Posted by Paul from Motown Area on 07/09/14 at 01:25 PM ET

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Chicago is the next Pitt, all the eggs in one fragile targeted basket

What is the alternative?  Trade Crosby?  Trade Malkin?  Trade Toews or Kane?

I understand what you are trying to say, but in reality no team would trade any of those guys.

Posted by gretzky_to_lemieux on 07/09/14 at 01:28 PM ET

TreKronor's avatar

What is the alternative?

Taking this in a different direction, I think the alternative is to try to convince these guys to settle with smaller cap hits “for the good of the team”.  If the cap ceiling is $75mil in ‘15-‘16, they would be taking up 28% of the team’s cap space between the two of them. 

 

Posted by TreKronor on 07/09/14 at 01:33 PM ET

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That’s a large cap percentage for 2 dudes who each score twenty-some goals a year on average.

There is more to the game than scoring goals. That being said, 1/4 of your cap tied up into two players screams of years of irrelevancy. Good luck to Chicago. These have to be two of the higher in the history of the NHL right?

Posted by weswolverine on 07/09/14 at 01:35 PM ET

LivinLaVidaLockout's avatar

These have to be two of the higher in the history of the NHL right?
Posted by weswolverine on 07/09/14 at 01:35 PM ET

Lidstrom made $10.5M in 2002-03.

Posted by LivinLaVidaLockout on 07/09/14 at 01:40 PM ET

Avatar

Posted by LivinLaVidaLockout on 07/09/14 at 01:41 PM ET

Wow, thanks! This is a…. very interesting list. Post cap there are a lot of players that are no longer on those teams anymore, and a lot of players on teams that haven’t done anything.

Posted by weswolverine on 07/09/14 at 02:01 PM ET

awould's avatar

What is the alternative?  Trade Crosby?  Trade Malkin?  Trade Toews or Kane?

I understand what you are trying to say, but in reality no team would trade any of those guys.

Posted by gretzky_to_lemieux on 07/09/14 at 01:28 PM ET

Wayne Gretzky was traded.

The Pens could improve their team w/ the right trade for Malkin.

Chicago might find themselves in a position to trade Kane someday. The difference between Chicago and Pens is, Chicago’s core has 2 solid offensive players, 1 elite D and a good goalie. Pens has 2 solid offensive players, weak D and a headcase for a goalie (albeit w/ 1 year remaining). The Pens need some depth and a Malkin trade could solve that problem.

Posted by awould on 07/09/14 at 02:08 PM ET

TreKronor's avatar

I could see the Hawks trading Sharp to clear a little cap space and get something out of him.  Three years left at $5.9/season, and he plays a great offensive game. 

Trading Kane in the future makes for an interesting idea.  In 4-5 years that cap hit could be a good value if he continues to produce; given his age he should be a good player for years to come.  My Hawks friends are not happy that Kane was given this contract today - they would have rather the Hawks use the money elsewhere.

Posted by TreKronor on 07/09/14 at 02:16 PM ET

Iggy_Rules's avatar

It will be interesting to see if the hawks can be successful with 25% of their cap space allocated to two guys. Does this make Keith demand a big increase next time round? Does this mean Seabrook is eventually out?

Thinking on it, it is a hard choice to make, two Sharps or one Kane. If these contracts force a deal, Teams will line up around the block for a shot at Sharp, that guy would be a welcome addition to any team.

Posted by Iggy_Rules from Calgary, Canada on 07/09/14 at 02:21 PM ET

Wings_in_NYC's avatar

These are different times. Imagine if Stevie Y was due for a contract in today’s money game. It would be interesting to see how many people would say “give him the keys to the bank,” and how many would say “let him walk.” It makes sense that Chicago signed these two for a boat load. Those are the times we are in. Do I hope it haunts them? Sure. But these are two high quality players.

Posted by Wings_in_NYC on 07/09/14 at 02:21 PM ET

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The Pens could improve their team w/ the right trade for Malkin.

No way.

Posted by gretzky_to_lemieux on 07/09/14 at 02:33 PM ET

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Contrary to popular belief, the Hawks are in very good shape cap-wise.  Only a weaker still Canadian dollar will cause them pain, and I doubt that happens with commodity prices likely to rise in the wake of U.S. Federal Reserve increasing interest rates early to mid next year.

I predict the ‘Hawks will have to only shed $3 million in salary.  They will do this by letting mid-level guys (RFAs or UFAs) go in favor of one of the best prospect systems in the NHL.  They won’t HAVE TO trade anyone, although they COULD go that route instead.  This team is set up to be a contender for many, many years.

Posted by jkm2011 on 07/09/14 at 02:33 PM ET

d ca's avatar

Chicago is going to be in the same cap situation that Detroit was a few years ago when they were forced to give up players some to free agency and some to waivers. They have too many players that accepted “less money” to be on a good team but demanded NMC and limited NTC.

They were already surprised by the cap # this year as they thought that Rodgers Canadian TV deal would mean an extra $2M in cap space. With the NHL reducing the big revenue outdoor games next year do they really expect the cap to go to 76M with a 56M floor or is that being floated to their beat writers to limit the stories until after the season like the last time?
http://www.nbcchicago.com/blogs/madhouse-enforcer/Report-NHL-Salary-Cap-Could-Rise-12-Million-by-2015-16-262387121.html

They have 15 players under contract for 65.76M in ‘15-‘16. They league minimum contract is 575k. So even if Chicago tries to pull the we’ll go with 20 players only (instead of the 23 maximum allowed) they still need another 2.875M bringing their total to 68.635M. But does anyone think that Brad Richards, Marcus Kruger, Brandon Saad, Johnny Oduya, Nick Leddy, Michal Rozsival sign for anywhere near the league minimum? Or how about their 2nd best prospect in Adam Clendening?

Or how about saving enough space for ‘16-17 season when Seabrook’s, Versteeg’s, Andrew Shaw’s (restricted), Ben Smith’s (restricted),  Antti Raanta’s (restricted) and Jeremy Morin’s need raises? Or how about their 3rd best prospect Philip Danault (restricted)?

Chicago fans might be pulling selective memory, but everyone else remembered how they did they year after they won the cup and how they lost players that summer.

One only need to look to the long term contracts that are hanging around the necks of teams and how some of those are working out (let alone the recapture fears that lead to buyout that are no longer available).

I get the whole “what else are their choices,” but they could have taken the whole year and determined the market for some of their assets they clearly won’t be able to re-sign and then came up with the numbers for Kane and Toews.

Posted by d ca on 07/09/14 at 02:34 PM ET

Wings_in_NYC's avatar

Instead of looking long term, I believe the Hawks are banking on short term success and hoping that when they do have to part ways with some of the names being mentioned, there will be talented young (read: cheap) players coming up through the system. As much as I hate them, this is a team that has a legit chance to win the Cup for a few more years. Might as well try to get a few more rings while they have the pieces they’ve got.

Posted by Wings_in_NYC on 07/09/14 at 02:42 PM ET

Paul's avatar

LeBrun tweet,

Note that Kane/Toews deals are front-loaded as well as the fact they include $44 million each in signing bonuses

Posted by Paul from Motown Area on 07/09/14 at 03:11 PM ET

Avatar

Note that Kane/Toews deals are front-loaded as well as the fact they include $44 million each in signing bonuses

Posted by Paul from Motown Area on 07/09/14 at 03:11 PM ET

Insane - $88M paid in signing bonuses, lump sum. Unreal. I’d love to look at that balance sheet….

Posted by VitoLambruski on 07/09/14 at 03:36 PM ET

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Contrary to popular belief, the Hawks are in very good shape cap-wise.

Not particularly.

They’re over the cap this year already by 2.2 That’s not an insignificant amount to have to clear from your cap.

They are just entering the phase where the Hossa deal (which goes for SEVEN MORE SEASONS) begins to actively crush them.  He’s 35 with a 5.3ish cap number.  For, again, seven more years.

Their only substantive expirings are RFAs, which implies either a) paying those players substantively more to lock them up long term, b) paying them a little more to qualify them or C) just letting them walk.

Among those, Leddy makes 2.7 and comes up next year.  Oduya makes 3.375 and comes up next year.  Seabrook comes up in two.

Further, as much as people (stupidly IMO but whatever) crush Holland for handing out NTCs on his roster… Holland has 5 guys with some kind of NTC while Chicago has ELEVEN.

Chicago is in an exceedingly perilous cap situation right now.  2014-15 is the last year of their peak cap status.  From then on it’s gets nothing but uglier each and every year.

Posted by HockeyinHD on 07/09/14 at 03:57 PM ET

awould's avatar

Chicago is in an exceedingly perilous cap situation right now.  2014-15 is the last year of their peak cap status.  From then on it’s gets nothing but uglier each and every year.

Posted by HockeyinHD on 07/09/14 at 03:57 PM ET

Totally right. A couple years to capitalize on this team and then some tough decisions will be made.

Posted by awould on 07/09/14 at 04:37 PM ET

awould's avatar

Note that Kane/Toews deals are front-loaded as well as the fact they include $44 million each in signing bonuses

Posted by Paul from Motown Area on 07/09/14 at 03:11 PM ET

Doesn’t matter for the cap hit, right? The cap hit is averaged over the term?

Posted by awould on 07/09/14 at 04:37 PM ET

perfection's avatar

Posted by HockeyinHD on 07/09/14 at 03:57 PM ET

this is all true… but it should be noted that Chicago won a cup, faced similar cap peril, blew up a good portion of their team and won the cup again a few years later.

As the cap rises, these deals will level out a bit and while other moves will have to be made for sure, the moves made in their last round of major restructuring have proven to be pretty spot on. It is very much dependent on how well they’re drafting and developing though. If you’re dumping salary and good veterans, you better have kids who can step in.

It should also be noted that Kane and Toews are still really young and just entering their primes. They will likely only get better.  I sure wouldn’t mind building a team around a Toews-Kane-Keith core. Doesn’t get better than that in the league I would think.

Posted by perfection from LaLaLand on 07/09/14 at 04:38 PM ET

Iggy_Rules's avatar

$44m signing bonus? That is nuts. How is it broken down?

Posted by Iggy_Rules from Calgary, Canada on 07/09/14 at 05:51 PM ET

awould's avatar

$44m signing bonus? That is nuts. How is it broken down?

Posted by Iggy_Rules from Calgary, Canada on 07/09/14 at 05:51 PM ET

Small bills mostly. $10s and $20s.

Posted by awould on 07/09/14 at 05:53 PM ET

Avatar

what you are talking about is losing one to two players. leddy is not worth 2.7 right now so he’s not going to make much more then that even if they keep him. or they can let oduya walk. that’s more than 3 million right there. you were probably one of the ones laughing at them after they won their last cup. you were probably also laughing at Minnesota after their big signings. the cap hasn’t put either of those teams in the predicament that most predicted. it wont two seasons from now for the Hawks either.

Posted by jkm2011 on 07/09/14 at 06:49 PM ET

bigfrog's avatar

  What is the alternative?

Taking this in a different direction, I think the alternative is to try to convince these guys to settle with smaller cap hits “for the good of the team”.  If the cap ceiling is $75mil in ‘15-‘16, they would be taking up 28% of the team’s cap space between the two of them.

Love it. I hope the Slackhawks choke on those contracts. Only question will be is how the 44 million cap hit is applied?

Posted by bigfrog on 07/09/14 at 07:42 PM ET

bigfrog's avatar

The 44 million cap I was referring to is the bonus of 44 million.

Posted by bigfrog on 07/09/14 at 07:43 PM ET

d ca's avatar

what you are talking about is losing one to two players. leddy is not worth 2.7 right now so he’s not going to make much more then that even if they keep him. or they can let oduya walk. that’s more than 3 million right there.

Hmm…a 24 yr old that played has played all 82 twice already and put up 30 plus points those years while on the 2nd/3rd pairing with limited ice time…not worth much more than 2.7M?  You do realize if the cap goes up by as much as predicted that means the other teams have the cap space to throw offer sheets at Leddy and Saad just to hurt the division rival’s cap space like Wilson did with Hammer.

The offer sheet number starts at $3,364,391 and will be indexed upward in July 2015 at the same percentage rate of annual increase as the Average League Salary, (meaning a comparison of the 2014/15 Average League Salary to the 2013/14 Average League Salary). So say for argument sake that the number goes up by 6% (the cap went from 64.3 to 69M).

That means I can throw an offer sheet at either player of $ 3,566,254 and only give up a 2nd rounder for either player. Want to bet as another GM. I’d be willing to give up a 2nd rounder for either Saad or Leddy?

Posted by d ca on 07/10/14 at 01:39 AM ET

Nathan's avatar

Contrary to popular belief, the Hawks are in very good shape cap-wise.  Only a weaker still Canadian dollar will cause them pain, and I doubt that happens with commodity prices likely to rise in the wake of U.S. Federal Reserve increasing interest rates early to mid next year.

Posted by jkm2011 on 07/09/14 at 02:33 PM ET

Commodity prices will rise when wages start to rise. If labor hasn’t shown strong growth for an extended period before the Fed raises rates, rate raising will have the very opposite effect of what you are saying.

Either way, I’m not sure this has much impact on the Hawks cap situation.

Posted by Nathan from the scoresheet! on 07/10/14 at 09:04 AM ET

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

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