PITTSBURGH, PA - FILE: Sidney Crosby #87 of the Pittsburgh Penguins waits to take a face off against the Boston Bruins on December 5, 2011 at CONSOL Energy Center in Pittsburgh, Pennsylvania. It was reported that Sidney Crosby of the Pittsburgh Penguins is out indefinitely with concussion-like symptoms after a recurrence of the problems that sidelined him for more than 10 months earlier this year December 12, 2011. (Photo by Jamie Sabau/Getty Images)
According to reports, the Pittsburgh Penguins and Sidney Crosby are targeting a 10-year, $90 million contract extension.
Elliot Friedman of Hockey Night in Canada reported during the Hot Stove segment of the broadcast during Saturday's Game 5 of the Stanley Cup Finals that the Pittsburgh Penguins and Sidney Crosby are targeting a 10-year, $90 million extension when the two sides can begin talks on July 1.
The numbers are quite hefty, especially given Crosby's recent injury troubles, however the two sides are confident that a deal that benefits both sides can be worked out.
Considering that if Crosby were to sign the contract, it would cause a $9 million hit to the cap every season and could handcuff the team when trying to re-sign players such as Evgeni Malkin, Jordan Staal and Kris Letang. The writers at Pensburgh, however, feel that even with Crosby potentially signing for such a high amount, the current cap will still allow some breathing room.
"[U]nder current protocol, the maximum salary is 20% of the upper limit. Twenty percent of 70 million is $14 million, so if Crosby does agree to a long-term deal at around his current $8.7 million cap hit, it will represent significant savings for the team and could be helpful on future contracts."
For more on the Pittsburgh Penguins, head over to PensBurgh.