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The Malik Report

Flyers’ offer sheet for Shea Weber is lockout-proofed, pays $56 million over first four years

Update: Whoops, wrong blog. sorry: According to TSN, the Philadelphia Flyers’ offer sheet to Nashville Predators defenseman Shea Weber defines the term “front-loaded”:

The Philadelphia Flyers have signed defenceman Shea Weber to a 14-year offer sheet worth a total of of $110 million. The deal includes $68 million in bonus money in the first six years.

In total, Weber will make $14 million in each of the first four years; $12 million in years five and six; $6 million in each of the next four seasons; $3 million in year 11; and $1 million in each of the remaining years.

Sportsnet’s Nick Kypreos is confirming:

Update: Via Dmitry Chesnokov, here’s the Predators’ statement on the offer sheet:

Nashville Predators President of Hockey Operations/General Manager David Poile issued the following statement this morning:

“We are in receipt of the offer sheet signed between the Philadelphia Flyers and Shea Weber. Under the rules pertaining to an offer sheet, the Predators have one week to decide whether to match or accept the compensation. We have stated previously that, should a team enter into an offer sheet with Shea, our intention would be to match and retain Shea. Our ownership has provided us with the necessary resources to build a Stanley Cup-winning team. Due to the complexity of the offer sheet, we will take the appropriate time to review and evaluate it and all of its ramifications in order to make the best decision for the Predators in both the short and long-term.

“We do not anticipate any further comments on this situation until we make our decision within the next seven days.”

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Comments

Hootinani's avatar

And somehow the players are supposed to buy that the owners need relief from huge salaries to stay in business with shit like this going on?

Posted by Hootinani on 07/19/12 at 01:08 PM ET

Avatar

CAN WE MATCH IT TOO?

Posted by JEFF on 07/19/12 at 01:09 PM ET

awould's avatar

This deal should be looked at by the league. He’ll be 41 when it expires (i think). Way too heavy on the front end and then year 7 is worth half of year 6? And having the final 3 years worth only $1MM? Years 11-14 total the same as year 10. Total BS. Seems very close to the Kovalchuk deal that got nixed. Also seems designed to screw Nashville from matching it with so much front-loaded.

Posted by awould on 07/19/12 at 01:13 PM ET

bezukov's avatar

Man the Preds are screwed.  Hilarious.

Posted by bezukov from the kids are alright. on 07/19/12 at 01:16 PM ET

Hootinani's avatar

We do not anticipate any further comments on this situation until someone can coax me out of the fetal position sometime in the next 7 days.

Posted by Hootinani on 07/19/12 at 01:23 PM ET

Nate A's avatar

Signing bonuses beyond the first year of the contract? That’s just odd. But it may be a neat little way to skirt the rules regarding salary reduction per year.

Posted by Nate A from Detroit-ish on 07/19/12 at 01:23 PM ET

Hippy Dave's avatar

Argh.  There goes our chances of ever having a decent defenseman for the next few years.

Posted by Hippy Dave from Portland by way of Detroit on 07/19/12 at 01:31 PM ET

J.J. from Kansas's avatar

Argh.  There goes our chances of ever having a decent defenseman for the next few years.

Posted by Hippy Dave from Portland by way of Detroit on 07/19/12 at 12:31 PM ET

lolwhut

Posted by J.J. from Kansas on 07/19/12 at 01:52 PM ET

Avatar

Man the Preds are screwed.

By having one of the best defensemen in the league locked up longterm?

Posted by Garth on 07/19/12 at 01:52 PM ET

John W.'s avatar

Gotta wonder why the Wings didn’t try something like this.  It doesn’t end up being that much more money cap hit wise then what they were offering Suter, and it’s not like our first round draft picks are all that good most years anyways.  If we were willing to give up a first round pick for Quincey, certainly Shea is worth 4 of them.

Posted by John W. from a bubble wrap cocoon on 07/19/12 at 01:52 PM ET

awould's avatar

“wtf, guys?”, said Pekka Rinne.

Posted by awould on 07/19/12 at 01:55 PM ET

John W.'s avatar

By having one of the best defensemen in the league locked up longterm?

Posted by Garth on 07/19/12 at 12:52 PM ET

Boy, I dunno if Nashville can match it though.  Being as small a market as they are, can they really afford to pay him $14M a year the first 4 years, with $13M guaranteed, even if there’s a lockout this season and they get ZERO revenue this year?  Which is exactly why Philly structured it this way.  But at the same time how can they not match it?  If they lose Weber and Suter in the same year and having essentially added nothing…well the Wings division sure just got a lot easier.

Posted by John W. from a bubble wrap cocoon on 07/19/12 at 01:57 PM ET

Avatar

Gotta wonder why the Wings didn’t try something like this.

My gut tells me that the Predators were talking trade to the three or four teams that Dreger listed and that they told Philly they were out of the running, so Philly made the offer.  I don’t buy that Philly were impatient, I think they were kicked to the curb by Poile.

I’m not sure Holland would consider an offer sheet anyway, but he was probably still in on the possible trade when the offer sheet went down.

Posted by Garth on 07/19/12 at 01:57 PM ET

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Being as small a market as they are, can they really afford to pay him $14M a year the first 4 years, with $13M guaranteed

Maybe not, but Poile has been saying for a while that they were willing to spend to the cap and as of right now they’re $13M below the floor, so not only do they have money to spend, but they have to spend a lot.

Posted by Garth on 07/19/12 at 02:00 PM ET

John W.'s avatar

I’m not sure Holland would consider an offer sheet anyway, but he was probably still in on the possible trade when the offer sheet went down.

Posted by Garth on 07/19/12 at 12:57 PM ET

Yeah, still would have been nice for KH to try it, plus I think I’d rather give up 4 first round picks over roster players/prospects who are already a known entity.  One thing’s for sure though, Yandle’s trade value just went up a lot with Shea off the market one way or another.

Posted by John W. from a bubble wrap cocoon on 07/19/12 at 02:03 PM ET

John W.'s avatar

Maybe not, but Poile has been saying for a while that they were willing to spend to the cap and as of right now they’re $13M below the floor, so not only do they have money to spend, but they have to spend a lot.

Posted by Garth on 07/19/12 at 01:00 PM ET

I know, but the possible lockout with that $13M guaranteed is the key here.  Structured normally (read no huge signing bonuses) and with a guarantee of hockey this season. it’s a no brainer, a $7.8M cap hit is pretty reasonable for Shea.  But it’s the actual cash that is going to HAVE to be paid out regardless of whether Nashville makes a dime this entire season or not that is the problem.  Can they reasonably afford $13M this year with the possibility of no revenue?

Posted by John W. from a bubble wrap cocoon on 07/19/12 at 02:10 PM ET

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) The Flyers did Weber and Nashville a favour.  He’s now a Preditor for life.  Poille being an astute GM is probably first confering with the league if the contract is legal under the terms of the CBA. 
2) Regardless of what they say, Nashville will retain Weber.  They have no other choice regardless of the upfront costs.  In the long run its about the same $$ as Suter got and Weber is the better, more irreplaceable player

Posted by Fauxrumors on 07/19/12 at 02:14 PM ET

Avatar

Posted by John W. from a bubble wrap cocoon on 07/19/12 at 01:10 PM ET

It’s a concern for sure, but when you sign someone it is on the assumption that there will be a season.  The worst thing they can do is forego a 14 year contract because they think there’s a chance that the season might not happen.

Posted by Garth on 07/19/12 at 02:20 PM ET

RWBill's avatar

My gosh this is the most interesting thing to happen in hockey in a good while, if not funniest.  I’m not smart enough to comment anything new on this, and I’m on the iPad without my lost stylus so mistakes and omitted letters would be widespread, but this just strikes me funny as Heck, more than anything else.

Posted by RWBill from cruising Brush Street with Super Creepy Rob Lowe. on 07/19/12 at 02:23 PM ET

Leo_Racicot's avatar

@DarrenDreger

Preds didn’t have a ton of time to make a trade, but they did know of the Weber offer sheet Wed morning. Trade talk consumed most of the day

I have a hard time believing that GM’s who have been doing this job since 1982 are sitting around eating their Pac Man cereal with severe bedhead yesterday morning when they get a call from their dad’s former employer (whom they’ve made 16 trades with since the franchise’s inception) informing them of this offer.

Posted by Leo_Racicot on 07/19/12 at 02:42 PM ET

RWBill's avatar

Is there even a CBA policy in place that addresses this scope? How many 1st and 2nd round draft picks would Nashville get from Philly?  I’ve said before, draft picks below the top 5 are overrated and have a so so chance of even playing substantial number of games in the NHL.  But you need to keep a flow coming, Phillys could dry up for several years and it would be quite an influx for the Preds.

Like Garth said, Preds HAVE TO SPEND quite a bit, if not on Weber then the remaining free agents contractsnare going to be artificially jacked up, royal, just to get over the floor.

Posted by RWBill from cruising Brush Street with Super Creepy Rob Lowe. on 07/19/12 at 02:43 PM ET

Red Winger's avatar

THIS is why there will be no hockey this October.

Posted by Red Winger from Sault Ste Marie on 07/19/12 at 03:23 PM ET

Hippy Dave's avatar

If the League didn’t let the Kovalchuk deal go through, I doubt they’ll let this one go through either.

Posted by Hippy Dave from Portland by way of Detroit on 07/19/12 at 05:05 PM ET

J.J. from Kansas's avatar

The problem with the Kovalchuk deal got defined as a problem with years tacked on to the end. This deal ends at age 40, the precise cut-off implemented by the Kovalchuk amendment.

I would be absolutely shocked if this deal were not allowed to go through.

Posted by J.J. from Kansas on 07/19/12 at 05:26 PM ET

Avatar

@RWBill

The current CBA awards compensation based on the RFA compensation formula…Take the total deal’s value and divide by the lesser of 5 or the # of years of the contract…

more than 8.(something) million means Nashville would get four 1st rounders as compensation… this deal falls in that range (it’s not cap hit dependent).

Nashville’s only other option is to work out a trade with Philly for players (in exchange for Nashville not exercise its matching option) like Philly did with RFA Chris Gratton.

Posted by dca from in Mich on 07/19/12 at 06:23 PM ET

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The Malik Report is a destination for all things Red Wings-related. I offer biased, perhaps unprofessional-at-times and verbose coverage of my favorite team, their prospects and developmental affiliates. I've joined the Kukla's Korner family with five years of blogging under my belt, and I hope you'll find almost everything you need to follow your Red Wings at a place where all opinions are created equal and we're all friends, talking about hockey and the team we love to follow.