While it has been rumored for the last few days, the Golden Knights announced that they have struck a deal with the top UFA on the market in defenseman Alex Pietrangelo, inking him to a seven-year, $61.6MM contract for an $8.8MM AAV. Sportsnet’s Elliotte Friedman adds (via Twitter) that the pact contains a full no-move clause. Pierre LeBrun of The Athletic provides the full breakdown:
- 2020-21: $2.0MM salary + $3.0MM signing bonus
- 2021-22: $2.0MM salary + $3.0MM signing bonus
- 2022-23: $1.0MM salary + $7.0MM signing bonus
- 2023-24: $4.3MM salary + $8.0MM signing bonus
- 2024-25: $4.5MM salary + $8.0MM signing bonus
- 2025-26: $4.0MM salary + $6.0MM signing bonus
- 2026-27: $8.8MM salary
The 30-year-old is the first number one defender to hit the open market in quite some time but in this particular environment with a flattened salary cap, very few players have managed to land a big-money, long-term contract. Many expected Pietrangelo to be the exception and this is indeed the case as his new deal is the longest handed out to any UFA so far and makes him the fifth highest-paid blueliner in the league. The deal comes in quite close to our projection as we had him pegged for a seven-year, $61.25MM in our Top-50 UFA list where he was the unanimous choice for number one.
Pietrangelo is coming off of one of the best offensive seasons of his career as he put up 16 goals and 36 assists in 70 games while logging more than 24 minutes per game for the ninth straight season. Few teams, including the Golden Knights, have a blueliner of this caliber and while Vegas has managed to build a strong back end without a true top option, their defense corps will be that much stronger now.
GM Kelly McCrimmon’s job is far from done, however. The team is now well over the salary cap and by the time you factor in all one-way contracts and two-way deals pro-rated based on their 2019-20 days on the roster (which are factored in the 10% allowable offseason overage), Vegas is over the $89.65MM offseason Upper Limit. Accordingly, cap-clearing moves need to come soon.
In recent days, defenseman Nate Schmidt ($5.95MM through 2024-25) has been a speculative trade candidate which makes sense as Pietrangelo plays the same side he does. The Golden Knights could also move goaltender Marc-Andre Fleury ($7MM through 2021-22) who is expendable after the extension of Robin Lehner but they haven’t had much interest in him so far and any trade would almost certainly require some salary retention.
In Pietrangelo, Vegas has landed another top-end player but while they didn’t pay anything but money to get him, we’ll soon find out the other part of the acquisition cost in who has to be moved out before the deal can be made official.
Pierre LeBrun of TSN and The Athletic was first to report) the $8.8MM price tag.
Photo courtesy of USA Today Sports Images.
Don’t see this contract aging well. Just look at drew doughty. Years 31-38 is a tough one to call could be great for first 2/3 years but what about when decline hits.
Vegas will probably be bad by the time this deal is bad. May as well try and win the cup before that happens.
Good job by the knights to clear up some space and add an elite d-man
What cap space did they clear? They are about to have to give away first rounders for someone to take a player like Nate Schmidt, who is worth his contract…this will not end well for Vegas
Well didn’t have to give a first. You traded his contract for a third. Pretty good I would say
Without a doubt one of the best defensemen in the NHL, but 8 years for a physical player who will be 31 when the season starts?
I wouldnt even place him in the top 10
It’s 7 years not 8. Also, petro isn’t physical…he has great hockey instincts, is a good leader, sets a great example in the locker room and is great in the community…but he also serves regular shifts as Benn’s recliner.
Name the 10 better ones?
I’m not going to say he’s the best, or even top 5.
But he’s in the top 10 for sure
I’d like this move a lot more if they are/were keeping Nate Schmidt. Perfect partner for him.
Be interesting to see who they have to move out to make this work.
Knights now have a few big contracts like the Leafs, but far better roster balance. Getting Lehner cheap helps a lot.
Fleury has to be one that goes … but Vegas holds no leverage in any discussions to move him
I still think the Pens are in on Marc or else Jimmy would have spent all of our cap space by now.
I bet they are hoping to find a third team to eat some salary for draft picks.
Even if you’re right it doesn’t lessen the fact that Vegas has absolutely no leverage in any talks to deal Fleury … Everyone knows he isnt happy and Vegas is over the cap …
No way we get Fleury unless its for 2 mill or less and i dont see it happening. Would rather spend that money on a RHD for the third pair
Taking a random stab at it, it would have to be something like Fleury to a third team to eat more of his money with a third round pick or so going with him for that team’s effort, then to Pittsburgh with DeSmith going to Vegas.
Or the Pens would have to take MAF at half his salary with a sweetener, then trade McCann for picks and sign a UFA to replace him on the third line.
Multiple Pens have reached out and been told by Fleury he’d like to return here if he’s moved.
Pens aren’t a cap team this year Jimmy came out after the kap trade and said that
That was garbage reporting denied by the team the next day. Rob Rossi is a clown.
A 3rd round pick won’t be close to getting it done. Las Vegas already floated a 2nd round pick before the draft for someone to take Fleury and no team would bite. It will take a 1st round pick at a minimum.
And I’m sure you are highly qualified to judge the ability of a sports writer.
After dealing Schmidt tonight McCrimmon has said Fleury is staying put and gonna be a tandem goalie with Lehner … who knows if it’s true or a marketing play
Except It wasn’t robb Rossi it was literally Jim Rutherford on I believe Tim and Sid or overdrive
You clearly are not. Everyone knows Rossi is a clown.
And the Pens are $2.5 million away from the cap while being on record that they still want to sign a #6 D man.
So, it seems pretty obvious that the idea that they will not spend to the cap (as opposed to $5 to 10 million under as was reported) is incorrect.
From this site:
“On top of that, Rob Rossi and Josh Yohe of The Athletic report (subscription required) that the team is looking to shed some payroll and start next season in the low-to-mid $70MM range.”
Per CapFriendly:
PITTSBURGH PENGUINS
Pittsburgh Penguins
PROJECTED CAP HIT Tooltip : $78,931,842
PROJECTED LTIR USED Tooltip : $0
PROJECTED CAP SPACE Tooltip : $2,568,158
Bet they wish they had packaged a first with Fleury at the draft in order to free some space.
I would say they either move Fleury or Schmidt, being according to Spotrac.com they are $7,209,877 million over the cap space. Schmidt at $5,950,000 and Fleury at $7 million & no impending Free Agents on team for 2020 , gonna be exciting to see what they do.
Vegas just made a horrible mistake, AP not that good and his best days are behind him
Not that good??? You must not watch a lot of hockey bud
It’s funny how people assume that Fleury has to go funny thing he can sit on the bench all 82 games this upcoming year and still collect his money… How about Vegas trade Karlsson or Marchessault or both and let some young players come up go through growing pains and we will really see how DeBoer can coach… That’s funny… People also if AP was 3 years younger then I would say this deal was good but he will be really done in 3 years…
I think if you are smart you do what you can to move Fleury, keep Schmidt and make the defense that much stronger. Plus if cap is that bad come next season you could perhaps entice Seattle to take a contract
It would make way more sense to me to keep Schmidt and move Alec Martinez (who is older and only has one year left on his deal) and MAF.
I think Detroit will end up helping the Knights out in return for draft picks. They’re in a long rebuild.
if the Pegulas want to win this is where you show it.
Hutton to Vegas for Fleury and a 1st. It doesn’t get all the money Vegas needs off the books but gets 4.2 mill off. I also wonder of Carolina would consider moving Mrazek or Reimer to Vegas for Fleury if it meant getting Tuch and a draft pick back.
I have no respect for this man anymore.
why exactly have you lost respect for him?
Alex was the captain of St. Louis. Sounds to me like this person is a blues fan. That’s where Golden Knights fans are different when someone leaves as long as it’s not to a division rival we wish them all the best. Same applies to Nate Schmidt because he was traded. Also, as a WWE fan this guy is giving the name Vince Kay McMahon a bad name
I’m a lifelong Blues fan and I wish Petro well. But… it is disturbing to hear what a difficult decision this was. You mean you can’t sacrifice a little money to stay put? That’s the part that is troubling. Maybe Petro should have sought some advice from Albert on how that worked out.
Vegas will be begging some team to take on this contract in 3 years