As he enters the final year of his four year, $27 million contract, the Vancouver Cancucks have announced the signing of goalie Roberto Luongo to a 12 year, $64 million extension. The 30 year-old’s new contract will run through the 2021-22 season.
Call me crazy, but isn’t this a bit excessive. I get the fact that by signing a player to a long term deal like this you can secure a first rate player at a lower price so that it doesn’t adversely affect the cap. You can also control the distribution of the salary so that when he’s older, you’re paying him less. But what if he turns to glass? Or what if you need to trade him but no one will take him because he has a contract that lasts all of eternity? Although if you have an agreed upon retirement date that is before the 2021-22 season’s end, then I guess his paycheck comes off the books right. Or is that illegal?
(Photo: AP; source)
Call me crazy, but isn’t this a bit excessive. I get the fact that by signing a player to a long term deal like this you can secure a first rate player at a lower price so that it doesn’t adversely affect the cap. You can also control the distribution of the salary so that when he’s older, you’re paying him less. But what if he turns to glass? Or what if you need to trade him but no one will take him because he has a contract that lasts all of eternity? Although if you have an agreed upon retirement date that is before the 2021-22 season’s end, then I guess his paycheck comes off the books right. Or is that illegal?
(Photo: AP; source)
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