As a sophomore in 2010-11, Ottawa Senators’ defenseman Erik Karlsson showed a lot of promise. He was the team’s only All-Star that season, and posted a respectable 13-32-45 in 75 games, but with a brutal minus-30 rating. In 2011-12 Karlsson took “the leap” and just got rewarded for it. The 22-year-old led all defenseman in scoring by a 25-point margin, posting an incredible stat line of 19-59-78, and improving to a plus-16. His 78 points were the most by a defenseman since fellow Swede Nicklas Lidstrom posted 80 in 2005-06. Karlsson’s huge season brought him a huge extension, to the tune of seven years, $45.5M, an annual cap hit of $6.5M. While the dollar amounts are huge given his status as a Restricted Free Agent with only three years in the league, consider his closest comparable: last season Drew Doughty held out of training camp awaiting a new monster deal at 21 and ultimately signed for eight years, $56M (a $7M cap hit). That alone provides two positives for Ottawa: they didn’t have to make Karlsson the highest paid at his position in the league, and this didn’t drag out all summer and into training camp. The $6.5M cap hit puts Karlsson tied for sixth-highest among defensemen, with Shea Weber and Ryan Suter likely set to top him this summer as well. Less than 24 hours after the deal was announced, Karlsson was awarded the Norris Trophy as the league’s top defenseman; not bad for a guy being paid like the 6th-10th best at his position and still yet to enter his prime years. Of those prime years, Ottawa has successfully tied up three of them that could have seen Karlsson as an Unrestricted Free Agent. Karlsson may be committing to three of his free agent years, but he didn’t appear any threat to leave any time soon. Always jovial in interviews with a good sense of humor, Karlsson and his teammates seem to get along genuinely well, same with the coaching staff. There is something to be said for being happy at work, and I am guessing that is why he elected not to push for a lifetime deal. Those three UFA years shouldn’t be looked at under too big of a microscope though, because when this deal expires Karlsson will be 29-years-old, and could end up netting himself another deal in the 7-year range to finish out his career. Perhaps something even longer, as 31-year-old Brad Richards got a 9-year contract as a free agent last summer. Then again, the next CBA could change free agency dramatically; perhaps long-term deals end up with a cap on just how long they can be; maybe the rules are even less favorable for teams signing players over 30-years-old. Those are gambles Karlsson’s camp surely weighed ahead of signing. So while the Norris winner received a very generous raise (from $875K), he didn’t handcuff his team, strain their relationship, or jeopardize his future earning power. Now that’s a hometown discount worth celebrating. Grade for Ottawa: A+ Grade for Karlsson: B+ Nick is RealGM’s NHL Feature Writer. You can reach him by email nick.obergan@realgm.com or on twitter @NickObergan