Pens Universe, a reputable Penguins blog with contacts to Cooke and his charity initiative, was one of the first to announce the signing and now has terms.
Cooke’s new three-year contract will average $1.8 million per season, and he also has a no trade clause.
This will be a $600,000 raise against the Penguins’ salary cap, as Cooke’s last deal was worth $1.2 million. For the team, this is very managable. It’s expected that if veteran forward Bill Guerin will return, he’ll take a pay cut off of his previous $2 million salary. If Guerin does not return, it’s expected a young player, like Eric Tangradi, Dustin Jeffrey or Nick Johnson, on a cheap, entry-level type of deal may take Guerin's place in the lineup, which would essentially absorb the increase in salary given to Cooke.