MONTREAL -- Ron Hextall said Wednesday that he would be "surprised" if he didn't get a deal done with Kris Letang before the NHL Draft was over.
It took less than 24 hours to sign Letang to a multi-year contract extension that will likely keep him in Pittsburgh through the rest of his career.
The Penguins on Thursday announced that they have signed Letang to a six-year contract extension through 2027-28 worth $36.6 million, giving the deal an average annual value of $6.1 million.
Letang will be 41 years old when his contract expires.
"Kris epitomizes what it means to be a Pittsburgh Penguin," Hextall said in a statement. "The role he plays on our team is irreplaceable, he is a leader in our locker room, and has made countless contributions to the organization over the last 15-plus years, which includes three Stanley Cup Championships. We are thrilled to make him a Penguin for life."
Contract projections had Letang's average projected term at 4.2 years and his average projected salary at $9,155,000 for his next contract, based on comparable players around the league. The Penguins likely gave up more term than they wanted in order to keep Letang's cap hit low.
The signing leaves the Penguins with $15.3 million in projected cap space with nine forwards, seven defensemen, and two goaltenders under contract and expected to be on the NHL roster.
That makes it entirely possible for the Penguins to still sign Evgeni Malkin and be able to fill out the rest of the roster.
According to a report from TSN, the contract contains a full no-movement clause for the first four years, then is reduced to a modified no-trade clause in which Letang submits a list of a certain number of teams to which he either would or would not accept a trade.
The annual salary breakdowns are reportedly $8M, $8M, $6.2M, $4.8M, $4.8M, $4.8M, which makes Letang's contract front-loaded and thus subject to the rules surrounding 35+ contracts. If Letang retires at any time during the length of the contract, his cap hit will remain on the Penguins' books through 2027-28. A buyout would also not reduce the cap hit.
Letang said on the Penguins' locker-room cleanout day that he sees himself playing "another four or five years, easily," and that he was hoping to be able to play out those years with the team he's been with for the last 16 seasons.
"The main goal has always been to stay here and play in Pittsburgh," Letang said. "I certainly tried to help build something good here and obviously want to keep it going."
Letang will look to keep it going for six more years.
