Wednesday, August 10, 2005
Two For The Price Of One
Canucks announced today that they have re-signed the Sedin twins to one-year, $1.25 million contracts each.
I was worried yesterday when media reports surfaced that Daniel and Henrik were willing to go through the arbitration process. Given their numbers and de-facto second line players status, it would not have been unconceivable for them to argue for contracts close to $2 million each. Instead with today's signing, the Canucks retain two second line players for a combined $2.5 million.
This signing is a win-win for the Canucks and the twins. Presumably, Nonis initially wanted to sign both to long-term deals at a slight raise to their qualifying offers ($1 million). This would mean that given the opportunity to play more minutes and produce more, the twins may well be playing under market value for years. The Sedins, of course, wouldn't have wanted that and instead insisted on a one-year deal to prove they are worth more money for more years. For the Canucks, it means that they don't take a big hit under the salary cap this year, gain more flexibility to re-sign their other key restricted free agents (ie. Ohlund, Cooke, Salo and Allen) and get to re-evaluate the twins' market value under next year's rumoredly lower salary cap. Both are still restricted free agents next year.
I was worried yesterday when media reports surfaced that Daniel and Henrik were willing to go through the arbitration process. Given their numbers and de-facto second line players status, it would not have been unconceivable for them to argue for contracts close to $2 million each. Instead with today's signing, the Canucks retain two second line players for a combined $2.5 million.
This signing is a win-win for the Canucks and the twins. Presumably, Nonis initially wanted to sign both to long-term deals at a slight raise to their qualifying offers ($1 million). This would mean that given the opportunity to play more minutes and produce more, the twins may well be playing under market value for years. The Sedins, of course, wouldn't have wanted that and instead insisted on a one-year deal to prove they are worth more money for more years. For the Canucks, it means that they don't take a big hit under the salary cap this year, gain more flexibility to re-sign their other key restricted free agents (ie. Ohlund, Cooke, Salo and Allen) and get to re-evaluate the twins' market value under next year's rumoredly lower salary cap. Both are still restricted free agents next year.
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