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(Re-signing)PK Subban re-ups in montreal for 8 years

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Here you go OP.


After months of negotiations and speculation and a salary arbitration hearing, P.K. Subban is going to be a long-term Montreal Canadien.

The restricted free agent defenceman agreed to terms on a eight-year, $72 million contract with the team on Saturday, avoiding a salary arbitration ruling. Subban's average annual value is $9 million.

The Canadiens and Subban's camp met for their arbitration hearing on Friday in Toronto. Both sides voiced their arguments to appointed arbitrator Elizabeth Neumeier in a four-hour session.

According to reports, the Canadiens submitted their arbitration brief earlier this week with a salary of $5.25 million on a one-year contract, while Subban - represented by agent Don Meehan of Newport Sports - asked for $8.5 million on a one-year term.

From the end of Friday's arbitration hearing, Neumeier was given 48 hours to reach her decision. The Canadiens and Subban had until a decision by Neumeier was announced to sign a new contract, otherwise the arbitration contract and binding and the two sides could not negotiate a new deal until January 1.

"We are very pleased to have reached a long term agreement with P.K. Subban," Canadiens general manager Marc Bergevin said in a statement. "This agreement helps consolidate the future of our team. A key element of our group of young veterans, P.K. plays with a high level of intensity every time he steps onto the ice. Despite his young age, he carries a great deal of experience and brings contagious energy to the team. Defensemen of his level are a rare commodity in the NHL."

Subban tweeted the following on Saturday after reaching the deal.

"Thank you to @CanadiensMTL for making a commitment to myself and my family. Im Excited about the future! #letsgetit."

Subban, who signed a two-year deal worth an average annual value of $2.875 million contract prior to the 2012-2013 season, scored 10 goals and added 43 assists in 82 games with the Canadiens in 2013-14.

He also added five goals and 14 points in 17 playoff games and was part of the Canadian men's Olympic team that won gold in Sochi in February.

Subban was awarded the 2013 Norris Trophy as the NHL's top defenceman after notching 11 goals and 27 assists in 42 games.

Drafted in the second round (43rd overall) in 2007, Subban has scored 42 goals and 167 assists in 284 career games.

No word yet on the dollar figure. Would be surprised if it wasn't $8 million+ though

EDIT: Updated article with dollar figures.

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Sucks for the Habs still. If they didn't do that bridge contract, they could've had Subban for 6x6 or something in that ballpark. Bridge contracts can both be beneficial and deadly.

But 9M is a good deal for both parties. If he continues to play like he always does in the coming years, this contract will easily be worth every penny.

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Overpaid him but they had to do what they had to do to keep him.

$9 mill is a clear overpayment when Weber who is a lot better is getting paid $7.8 mill. I'm pretty sure this makes PK the highest paid dman in the world. He is the most electric dman but a bit overpriced. Good deal though in general.

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Montreal did this to themselves. If they had not tried to play hardball they probably could have gotten him for much closer to $8 million per season.

The bridge contract killed them. Couldn't just pay him then and could have signed him to $6-$7 mill max per year for 6-8 years.

Oh well, lesson learned I guess. 8 years $72 mill.

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