On Monday in the NHL, the big news was that Sidney Crosby had signed a two-year extension to stay with the Pittsburgh Penguins. There was a lot of speculation about Sidney Crosby’s future with the Penguins. He was entering the final year of his 12-year extension and was eligible to sign an extension on July 1, 2024.
Sidney Crosby Commits To Pittsburgh Penguins
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Many thought he was going to sign on July 1. Some thought it would be on August 7 because of his superstition surrounding 87, but it made the most sense for him to sign right before training camp started. Staying with tradition, Crosby has a salary cap hit of $8.7 million. Even with this being a two-year extension running through the 2026-27 season, there is still a chance he can return on a year-to-year basis with the Penguins or another team.
The latter is the less likely outcome unless the Pittsburgh Penguins are not a competitive team. Sidney Crosby still wants to win. He will have that chance with Team Canada at the Four Nations Cup this season and, most likely, during the 2026 Olympics with Team Canada. The Penguins have cap flexibility to make moves later in the year and beyond. Team President and General Manager Kyle Dubas is trying to retool this team on the fly, surrounding Sidney Crosby, Evgeni Malkin, and Kris Letang with the best possible roster to win.
Why Did Crosby Take So Long To Sign
Despite Sidney Crosby’s optimism and the certainty surrounding the extension, this was still a process. On Monday evening, Dave Pagnotta of the Fourth Period joined Jamison Coyle on NHL Network to discuss the Crosby signing, why it took so long to sign, and whether this could be his last contract.
“Well, Jamison, I think everybody believed that this was going to be inevitable, that he was going to lock into an extension with the Pittsburgh Penguins, and then he spoke last week during the player media tour that he was just waiting to see when this was going to happen,” Pagnotta said. “Couldn’t put a definitive timeline on it, but he knew it was coming, and he was comfortable with it.
“I think this kind of came down to what he wanted in terms of term and where he thought this team was ultimately going. You know, we all thought at the end of June, the beginning of July, that he was going to lock into a three-year deal. It ends up being two years. We all thought it was going to start with the 10 and it ended up being 8.7 the same AAV he had on his last 12-year deal, which is in the final year of now, you know, he wanted to give them flexibility.”
Crosby Decided To Re-Sign
Sidney Crosby and the Penguins had many options. His agent, Pat Brisson, at CAA, was heavily involved in the process. However, with the salary cap implications of a long-term deal and the potential for a cap recapturing penalty, if he retired or did not play out the life of the contract, Sidney Crosby wanted to give the team the best chance to win moving forward. The Penguins may not be in playoff contention this year or next, but keeping the same AAV over the life of the deal gives the team options to add players.
Not to mention, most of the contract is paid out in signing bonus money. So, if Sidney Crosby decides to move on, the Penguins can easily afford to move him and retain money.
“He’s locked in for another two years after this one. So, it was about flexibility,” Pagnotta said. “It was about finding the right move. But he was dead set on locking in with Pittsburgh and the Penguins, obviously all set on keeping him a member of this team for the duration of his NHL career. And this might not be J-Mo his last deal. He’s going to take it one contract at a time and go from there.”
Crosby Will Probably Retire A Pittsburgh Penguin
Unless Sidney Crosby wants to chase a fourth Stanley Cup—he already has three with the Pittsburgh Penguins—he will likely retire as a member of the Penguins and have his banner go straight to the rafters. For now, fans of the NHL get to see one of the best players in the world play at a high level for another three seasons.
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