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Wednesday, September 2, 2009

luongo signs a 12 year deal with the canucks

Okay if you were like me today and heard the news that finally Mike Gillis of the Vancouver Canucks got the deal with Roberto Luongo done, you are saying WTF?

Luongo signed a 12 year deal worth like 65 million dollars.  I know!  That's a lot of ice time and a lot of cash.

But it's not really if you look at it.  Signing the still in great shape goaltender to a shorter contract means the Canucks spend less money as reaching the cap would come quicker than doing it this way.

The number one goaltender is still in his prime and nobody expects him to play the full 12 years which would put him at age 42 when he retires if he full-fills his obligation to the team.  But when you work it out by taking the amount of the contract, divided by the years you end up with something like Luongo getting 5.5 million a year.  Not bad considering he's making 7.5 right now as he finishes out the last year of his contract.

Gillis states : It was not a problem doing this for this particular deal because he's a goaltender.  That is why we went with the deal.  We had no discomfort, not the kind we would have had if it had been a forward or defencemen signing that type of deal.

I wonder how comfortable Gillis felt adding the no trade clause to the contract?  The Sedine's have a no trade clause as well, something Gillis is known to deeply frown upon but I guess he bit the bullet in order to keep some of the most exciting players we've had in a long time, eh?

All I can say is I can't wait for hockey season to start.  I hope Robbie doesn't put too much pressure on himself.  I hope he stays healthy with his groin and plays well and proves to everyone why he's one of the best Canucks ever to play the game!



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