Stamkos Signs 5 Year Extension

Tampa Bay, After Much Drama, Finally Gets Steven Stamkos Signed.

Official Press Release 

"The Tampa Bay Lightning have agreed to terms with restricted free agent Steven Stamkos on a five-year contract today, vice president and general manager Steve Yzerman announced. “Steven is extremely important to this franchise and is part of the foundation of our hockey team,” Yzerman said. “We are very pleased to have him signed and look forward to seeing him in a Lightning uniform for years to come.” “I am excited we were able to reach an agreement today,” Stamkos said. “This was obviously very important to me and I appreciate Mr. Vinik and Steve Yzerman for all their work in the transformation of the franchise as we move forward. There is no place I’d rather be than as a member of the Tampa Bay Lightning.” Stamkos, 6-foot-1, 188 pounds, has played in all 164 games during the previous two seasons, leading the NHL with 96 goals. He has also recorded 186 points and 41 power play goals while averaging more than 20 minutes of ice time per game during that span. Last season he registered 45 goals and 91 points with 17 power-play goals. Stamkos ranked second in the league for goals, power-play goals, third for road goals with 24, fifth for home goals with 21 and was fifth for points. He was the fastest player in Lightning history to reach 40 goals in a season, doing so in just 54 games. Stamkos also set a franchise mark for game-winning goals in a season with eight. The Lightning were 26-6-3 last season when he scored a goal and were 8-0-0 when he score more than one. Stamkos was honored by the league at the conclusion of the season, being named to the 2011 NHL Second All-Star Team. A native of Markham, Ontario, Stamkos made his Stanley Cup Playoffs debut in 2011, playing in all 18 games as the Lightning fell one game short of the Stanley Cup Final. He recorded six goals and 13 points in those games while averaging 19:43 in ice time. Stamkos notched three three-point games during the postseason, twice during the Eastern Conference Finals against Boston (Game 2 and Game 6, 1g-2a) and another in Game 5 of the quarterfinals against Pittsburgh (2g-1a). He was tied for third on the team during the playoffs for goals and shots on goal with 46. The No. 1 overall pick in the 2008 NHL Entry Draft, Stamkos has played in 243 career games with Tampa Bay, averaging nearly a point per game with 232 career points. He has also registered 119 career goals, 50 power-play goals and 14 game-winning goals. Stamkos won a share of the 2010 Maurice “Rocket” Richard Trophy as the NHL’s leading goal-scorer with 51, making him the third-youngest player in NHL history to score 50 goals or more in a season. Stamkos is also the sixth player in NHL history to score 100 career goals before the age of 21."

PattyB Thoughts:
To be honest, I don't have to say anything because everyone knows how huge this is for the Lightning organization. Throughout this entire off-season, much of the conversation between fans, media, and hockey personnel was about the fate of one of hockey's brightest young players. The Tampa Bay Lightning have gone through a re-birth since Stamkos was drafted and if they had lost him, it would have greatly hurt their reputation and fan base. For a little while, many people believed that the Flyers would be willing to offer Stamkos an offer sheet, but in the end no team ever followed through with the potentially league changing move. That worry that other GM's had of sending an offer sheet enabled the Bolts to take their time in negotiating the contract, but it did end up being much more of an issue than they would have liked. There was constant worry and panic from the Tampa side, but as of yesterday its over and Stamkos will be a Lightning player for another half-decade. Its obvious though, that both sides were way off to start negotiations, and they had to make some compromises as there are numerous parts of the contract that seem a little bit odd. Because of his big money and cap-hit, look for the Lightning to move out some more high-priced players to help them handle that big amount. 


Contract Terms:

LENGTH: 5 YEAR(S)     VALUE: $37,500,000     TYPE: STANDARD     EXPIRY STATUS: UFA
SEASON	AHL SALARY	NHL SALARY	P. BONUSES	S. BONUS	CAP HIT
2011-12	$8,000,000	$8,000,000	$0	$4,000,000	$7,500,000
2012-13	$8,000,000	$8,000,000	$0	$3,000,000	$7,500,000
2013-14	$8,000,000	$8,000,000	$0	$0	$7,500,000
2014-15	$8,000,000	$8,000,000	$0	$0	$7,500,000
2015-16	$5,500,000	$5,500,000	$0	$0	$7,500,000
KNOWN CLAUSES: NMC