| Nick Obergan. 17th May, 2010 - 7:14 pm
 Nicklas Backstrom was set to enter restricted free agency after playing out the final season of his 3-year entry level contract, but both team and player were swift in ensuring their relationship continued for years to come.
There didn't appear to be much in the way of haggling for the 10-year, $67 million deal that Backstrom agreed upon with the Capitals. When breaking down the stats that Backstrom has piled up in his short career, and comparing them to the contracts of players who had signed extensions recently, this was a win-win on both sides.
The deal is believed to be structured as follows: 4 seasons at $6 million, 2 seasons at $6.5million, 1 season at $7 million, 2 seasons at $7.5 million and the final season at $8million. Backstrom's annual cap hit will be $6.7 million. This allows the Caps to keep their dynamic duo of Backstrom and Alexander Ovechkin together for the next decade (Ovechkin has 11 years remaining on his 13-year, $124 million deal).
Backstrom is coming off of a season where he posted a career-best 33 goals, 68 assists, 101 points and a +37 rating. He was third in the league in assists for the second year in a row, and fourth in the league in points. As a rookie in 2007-08, he had 14-55-69 and found chemistry with Ovie late in the season. As a sophomore, he established himself as a top-line center and potential All-Star with 22-66-88.
Backstrom cemented his status as one of the game's brightest young stars and playmakers this season and was the Capitals' best player in the playoffs (5 goals, 9 points in 7 games). One of his under-the-radar qualities is durability, as he has yet to miss a game - regular season or playoffs - since entering the league 3 years ago. And at the age of 22, his best is likely still ahead of him, as he is continually growing in his leadership abilities and defensive zone coverage.
His $6.7 million cap hit puts him in a group with the following forwards: Pavel Datsyuk ($6.7), Henrik Zetterberg ($6.083), Paul Statsny ($6.6), Jonathan Toews and Patrick Kane ($6.3million), Henrik and Daniel Sedin ($6.1million), Daniel Briere ($6.5), Mike Cammalleri and Patrick Elias ($6), Jason Spezza and Jerome Iginla ($7), Thomas Vanek ($7.142), and Anze Kopitar ($6.8). While a mixed bag in terms of age and varying degrees of individual talent and contract, all are undoubtedly first-line forwards (except maybe Briere and at this point in his career, Elias).
As for young stars who signed long-term contracts after 3 years, his salary fits nicely along that of Toews and Kane, while a bit more than the likes of Mike Richards ($5.75), Phil Kessel ($5.4), Ryan Getzlaf and Corey Perry ($5.325) but less than Vanek and Evgeni Malkin ($8.7). Given his steady rise towards the top of the league in offensive output, as well as locking him up through his prime years (the contract will expire when Backstrom is 32), Washington secured a key piece here for very fair market value. Any long-term contract carries risk due to injuries, but Washington didn't over-spend in comparison to the league's other young building blocks.
Grade for Washington: A+
For Backstrom, he now has complete financial security and doesn't have to worry about contract talks being a distraction for the next 10 years. He also gets 10 years of playing beside one of the league's top-2 players in Alexander Ovechkin, and that will do nothing but help his own individual numbers and success. In addition, he assures himself of staying with a team that wants to win, and will have a chance to do so under one of the league's top General Managers in George McPhee (nominated for the first-ever GM Of The Year award this year).
If he had declined and had chosen to test the open market, the Capitals surely would have matched any offer sheet that came his way so this doesn't change his destination. Could it have changed his dollar figures though? At the numbers he put up, along with his age, he likely could have received an offer sheet in excess of $7 million per season. But by taking this offer for a maybe-below-market figure, he doesn't handcuff the ability of his front office to add and build on the roster. Here he walks away with a lot of money, and the ability to stay on a contender alongside Ovechkin.
Grade for Backstrom: A
Nick can be reached via email nickobergan@hotmail.com or on twitter http://twitter.com/nickobergan |
