Report: Malkin Close To Signing

Matt Bodenschatz | Pittsburgh Penguins

Jun 30, 07:48 PM | Hype this story!

Rob Rossi of the Pittsburgh Tribune-Review is reporting on his “Chipped Ice” blog that Evgeni Malkin is close to signing a five year contract extension with the Pittsburgh Penguins.

Rossi cites a weekend conversation with Malkin’s agent, J.P. Barry, when noting that the deal is expected to be worth around $42.5 million over five years, putting his cap hit at $8.5 million.

The Penguins cannot officially extend Malkin’s contract until tomorrow (July 1), which is one year prior to the completion of his current contract. If he re-signs, the new contract and cap hit would go into effect July 1, 2009.

At $8.5 million, Malkin’s salary cap hit would be just $200,000 less than Crosby’s, which is at $8.7 million.

Hossa’s Offer Remains, But Won’t Increase

Rossi also mentioned that Ray Shero remains interested in signing Marian Hossa, but only on his terms.

Reportedly, Hossa has been offered a five-year, $35 million contract. The cap hit would be $7 million. Rossi said Shero will not increase this offer.

Mandatory Footnote: As I have made normal practice, I feel that, based on Rossi’s inaccuracy to date, I must indicate that there are zero quotes in Rossi’s blog. Please take this for what it truly is: a rumor from a member of the media.

Comments

  1. Matt Bodenschatz

    Jun 30, 07:57 PM

    I want to add a few comments I feel weren’t worth putting in the story.

    1. If Malkin’s contract is, indeed, to last five years, it would put both Malkin and Crosby as free agents at the same time, as Crosby’s six-year contract kicks in this summer. Something tells me Shero would prefer to stagger the contracts of these two players.

    2. Rossi originally reported that the contract offered to Hossa was a seven-year deal worth $49 million. When did it drop to five years?

  2. Chad

    Jun 30, 08:00 PM

    Malkin and Crosby’s contracts won’t end at the same time, Matt. Crosby’s new five-year deal starts this season and expires at the end of 2012-13. Malkin’s new five-year deal would start next season and expire in 2013-14.

  3. Alex

    Jun 30, 08:01 PM

    Good news. Very good.

  4. Matt Bodenschatz

    Jun 30, 08:10 PM

    Chad, there’s a reason I threw that point into the comment section — I wasn’t 100% sure of the length of Crosby’s deal. For some reason I was thinking six years.

  5. Pens1967

    Jun 30, 08:22 PM

    This is great news for sure!

    At the end of the season, it was reported Shero was authorized by ownership to lock up Malkin, Fleury and Staal as part of the team’s core. Everyone else will fit in that framework, so it makes sense that Hossa has the Pens’ best offer.

  6. Chad

    Jun 30, 09:05 PM

    I wasn’t trying to show you up, Matt. Just trying to help. Sorry if I came off the wrong way.

  7. Matt Bodenschatz

    Jun 30, 09:08 PM

    Just a clarification: Chad, I realize my response to your comment seems smug. That was not my intent at all. I was typing while watching “House” and must have been too distracted to realize the tone of my response. I’m glad you mentioned the length of Crosby’s contract!

    My apologies.

  8. Chad

    Jun 30, 09:28 PM

    I know, Matt. Just trying to explain my intentions. All is well. Good job with the site!

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