Stephen
Moderator
- Feb 28, 2002
- 79,369
- 54,895
Kessel is making $10 mil in real money this season and people forget that Pittsburgh made the Leafs eat his $4 mil signing bonus due on July 1st before they acquired him and then forced the Leafs to retain $1.2 mil for the next 7 years.
Shanny & Leafs were so desperate to get rid of Phil that they're willing to pay him $5.2 mil to play for the Pens this year alone, and $12.4 mil altogether.
Leafs essentially sent a cheque for $12.4 mil along with Phil to help cover his salary for the Pens throughout the course of his contract, which is equivalent to paying Pittsburgh to take Kessel off their hands.
Leafs foolishly gave Kessel an 8 year $64 mil deal, then paid him $10 mil the first season and picked up $12.4 of the term of the deal so Pens are getting him now at $41.6 mil (over 7 years) = $ 5.94 mil per season on average.
The real fools in all of this are the Pittsburgh Penguins, who are now $40 million plus deep in on a six year commitment to a rapidly depreciating "asset". The Leafs cut their losses and recouped a couple of prospects. The next stop for Pittsburgh could likely be a big time buyout and a destroyed cap for a dozen years.