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Kris Letang Agrees to Six-Year Extension With Penguins

Defenseman Kris Letang has signed a six-year extension with the Pittsburgh Penguins. He’ll likely retire as a member of the team.

It’s NHL Draft Day, Round 1 and the rumors are everywhere. Signings will be prevalent too and one big one has already happened as the Pittsburgh Penguins have signed defenseman Kris Letang to a six-year extension. The club officially announced the deal on social media just hours before the first round of the draft was set to get underway.

The six-year deal is worth $36.6 million, which breaks down to just over $6 million per season. This is a deal that will likely see him retire in a Penguins uniform, something both the team and the player were wanting to see happen. Interestingly, the latest reports were that Letang wanted a five-year deal and the Penguins want him to sign a deal for three years. That he got a six-year pact is likely how the Penguins kept his cap hit at a reasonable number.

GM Ron Hextall said Wednesday that the two sides were close on a new deal and that he would be surprised if one wasn’t completed imminently. Less than 24 hours later, the deal was officially announced. Pierre LeBrun has the contract broken down as: $8M, $8M, $6.2M, $4.8M, $4.8M, $4.8M. He adds, “Some of that involves signing bonus money mixed with salary. Not sure yet on that exact breakdown of the bonus money. But again, Letang hasn’t signed it yet so contract hasn’t been filed with league yet.”

As for where the team is at with Evgeni Malkin, he noted, “We are still working”. The belief is that the two sides are much farther apart there and Malkin may move on in free agency. Darren Dreger writes, “Malkin remains a priority as well, but indications are Pittsburgh hasn’t been willing to give term to ease the financial concerns they have.”

Next: Oilers’ GM Ken Holland Admits: Not Close to Re-Signing Evander Kane

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