by Lisa McRitchie on 08/23/12 at 03:45 AM ET
The first of the young guns have re-upped with the Oilers, telling the world that they like the direction the team is taking, and believe that there is a future there. Or at least believes that he signed a contract that the Oilers wouldn’t have any trouble moving, should he request it. But since every Oiler fan hopes and prays that day never comes, it’s time to celebrate a great contract extension.
This $42 million contract extension works out to 6 million a year for 7 years, which should be 4 years after the Oilers win their first cup since 1990. This would also mean that Hall has given up 3 years of free agency to stick with the Oilers.
After two seasons on a bottom of the barrel team that may seem like quite the overpayment, but the Oilers are paying for Hall’s potential, and Hall was the first overall pick of 2010. When compared to John Tavares’ contract situation though, we see that the numbers are quite similar. Tavares’ deal was for 6 years and for $3 million less if you compare the two deals over the first 6 years of Hall’s deal, and so should put the numbers into a bit more perspective.
While Hall’s deal is done, the team is still in negotiations with Jordan Eberle’s camp, but this deal may take a bit longer as Eberle is represented by Don Meehan’s agency, the very same agency that represents Ryan Smyth. And I think that we all remember the last failed contract negotiations between the Oilers and Smyth before trade deadline day of 2007. There is no reason to believe that an agreement on Eberle’s extension won’t be reached, and especially when there is no rush to get the deal done.
Hall’s deal should also set the bar going forward for other players looking for contracts. Every player wants to play for a winning team, a team that they believe can contend but with a salary cap there is only so much money to go around. By setting the ceiling for their core and star players, the Oilers are setting the mark for everyone else. And so long as they stick to their guns, the Oilers might be able to make this work. So long as they are considering the other up and coming players that they consider core and see fitting into their long term plans.
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Lisa McRitchie is a fairly new writer, online at least, but makes up for inexperience with passion for the game of hockey and memories of Mrs. Leskiw’s English AP class; who knew they would pay off one day.
Oil Patch focuses on the Edmonton Oilers, the Edmonton Oil Kings, The Oklahoma City Barons and Team Canada Hockey with game coverage, news updates, speculation and interviews.
Although the Oilers have had a difficult past decade… or three, here at Oil Patch, the future looks bright.
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