UPDATE: Luongo signs 12 year/5.25 per year contract

shabbs wrote:

SpezDispenser wrote:

shabbs wrote:I'm fine with the length... but that's a lot of money over that length. Wow.

This. Yesterday I heard it was 5.3, which is quite reasonable over a 12 year term, but 7.25? Are you nuts?

These are the kind of mistakes made by newbie GMs.

Yeah, $5.5M or $5.3M average over 12 years would have been "good". This is ridiculous.

The numbers they give do add up to 5.33 at a 64 mil dollar price tag

Yeah, but Bobby Lu gets to drive the Zamboni when he retires.

Amnesia021 wrote:

shabbs wrote:

SpezDispenser wrote:

shabbs wrote:I'm fine with the length... but that's a lot of money over that length. Wow.

This. Yesterday I heard it was 5.3, which is quite reasonable over a 12 year term, but 7.25? Are you nuts?

These are the kind of mistakes made by newbie GMs.

Yeah, $5.5M or $5.3M average over 12 years would have been "good". This is ridiculous.

The numbers they give do add up to 5.33 at a 64 mil dollar price tag

Which numbers are you talking about? The ones RDS posted?

shabbs wrote:

Amnesia021 wrote:

shabbs wrote:

SpezDispenser wrote:

shabbs wrote:I'm fine with the length... but that's a lot of money over that length. Wow.

This. Yesterday I heard it was 5.3, which is quite reasonable over a 12 year term, but 7.25? Are you nuts?

These are the kind of mistakes made by newbie GMs.

Yeah, $5.5M or $5.3M average over 12 years would have been "good". This is ridiculous.

The numbers they give do add up to 5.33 at a 64 mil dollar price tag

Which numbers are you talking about? The ones RDS posted?

Yeah, but I could be adding wrong... I was educated in the California School System

Did RDS get the math wrong?

you wouldn't normally hear someone say overpaid when it comes to luongo, but man, gillis, you overpaid huge, the term could have been lived with if the cap hit was somewhere like shabbs suggested, 5.5 million.

Gillis' next move, logically, then, is to trade for Heatley, right?

This is a direct translation from RDS:

RDS has learned that Roberto Luongo signed with the Vancouver Canucks on a contract extension of 12 years. The agreement will bring him $ 87 million, an average of 7.25 million per season.

Luongo becomes the highest paid goaltender in NHL history when he ends his career with earnings of about 110 million.

His agent, Gilles Lupien and direction of the Canucks have agreed in recent days on the contract details and the agreement will be confirmed today.

It was also very important for Roberto Luongo this case is settled before the start of training camp to avoid distractions.

Amnesia021 wrote:

shabbs wrote:

Amnesia021 wrote:

shabbs wrote:

SpezDispenser wrote:

shabbs wrote:I'm fine with the length... but that's a lot of money over that length. Wow.

This. Yesterday I heard it was 5.3, which is quite reasonable over a 12 year term, but 7.25? Are you nuts?

These are the kind of mistakes made by newbie GMs.

Yeah, $5.5M or $5.3M average over 12 years would have been "good". This is ridiculous.

The numbers they give do add up to 5.33 at a 64 mil dollar price tag

Which numbers are you talking about? The ones RDS posted?

Yeah, but I could be adding wrong... I was educated in the California School System

You're right... the numbers they posted don't add up:

Year Salary (millions)
2010-2011 $10.000
2011-2012 $6.716
2012-2013 $6.714
2013-2014 $6.714
2014-2015 $6.714
2015-2016 $6.714
2016-2017 $6.714
2017-2018 $6.714
2018-2019 $3.382
2019-2020 $1.618
2020-2021 $1.000
2021-2022 $1.000
TOTAL $64.000

That's an average of $5.33M/year.

Hmmm....

Tell me it's 5.3, not 7.25. Tell me that Gillis didn't just make that deal.

RDS either got the total wrong or the breakdown wrong.

shabbs wrote:RDS either got the total wrong or the breakdown wrong.

And their reputation takes another hit.

SpezDispenser wrote:

shabbs wrote:I'm fine with the length... but that's a lot of money over that length. Wow.

This. Yesterday I heard it was 5.3, which is quite reasonable over a 12 year term, but 7.25? Are you nuts?

These are the kind of mistakes made by newbie GMs.

And somewhere Garth Snow feels a slap upside the head.

Amnesia021 wrote:

Yeah, but I could be adding wrong... I was educated in the California School System

You must be fluent in Mexican then!

SeawaySensFan wrote:

Amnesia021 wrote:

Yeah, but I could be adding wrong... I was educated in the California School System

You must be fluent in Mexican then!

there's that paper bag head guy, have been missing him lately

I'm waiting for the GMs to push the envelope even more and add another 10 years @ 1 mil to get the cap hit even lower!

Can you imagine a 22 year contract

Amnesia021 wrote:I'm waiting for the GMs to push the envelope even more and add another 10 years @ 1 mil to get the cap hit even lower!

Can you imagine a 22 year contract

I believe the closest was DiPietro's 15 year deal ( ) or Ovie's 13 year deal, but wow, 22 years, that is an entire playing career right there.

RDS just changed it to 63 million - a 5.3 cap hit.

Unrealistically good now.