The Tampa Bay Lightning will re-sign center Steven Stamkos to an eight-year, $68 million contract.
Steven Stamkos re-signs with the Lightning.
SPECTOR’S NOTE: The annual average salary is $8.5 million, considerably less than what Stamkos could’ve received on the open market. It’s believed the Detroit Red Wings and Buffalo Sabres were prepared to offer up over $10 million per season on seven year deals. The Toronto Maple Leafs were long rumored as a destination as well.
That salary is also what Lightning GM Steve Yzerman claimed was his best offer. Stamkos left money on the table to stick with the only NHL team he’s played for. He chose the chance to play for a Stanley Cup contender for the next several seasons over chasing big bucks elsewhere and putting those championship dreams on hold.
This move ensures veteran continuity for the Lightning. Stamkos is among the NHL’s top stars, exceeding 35 goals five times in his career and twice winning the Richard Trophy as the league’s top goal scorer. The deal shows a commitment by player and team to maintain a championship contender.
This signing, however, will make it difficult for the Lightning to re-sign other key players. With $9.3 million in projected salary-cap space (as per General Fanager) for 2016-17, they still have to re-sign RFAs Nikita Kucherov, Alex Killorn, Vladislav Namestnikov and Nikita Nestorov. It’ll also affect efforts to re-sign Victor Hedman, Tyler Johnson, Ondrej Palat and Jonathan Drouin next summer. That could give rise to rumors of a salary-dumping deal involving goalie Ben Bishop ($5.9 million cap hit) and defenseman Matt Carle ($5.5 million)
He didn’t really leave money on the table. TSN.ca put up a salary calculator and Stamkos would of took home less money signing with any of the other teams unless the offer was 11+ million it seemed.
Correct. It looked like Boston was the only other team that would’ve almost equated to the same amount of $$$ if they had offered 7 years and $10 per (which, lots of reporters were using as a benchmark for other teams in running). The numbers in total amount Stamkos would receive after taxes was quite comparable.
Are you taking into account the fact that he will pay taxes in every city he plays in?
I believe Pro Sports players pay in the city the game is held in… So the tax benefit of staying in FL is only half what you think. I could be wrong…
The little fact that you can not insure a player against future blood clots is getting lost in the story.
There was a tepid market for him.
bring out the crying towels in LeafLand
I can’t wait to hear all the excuses now. Pull up a chair and grab some popcorn, this will get entertaining.
I was hoping as I think we’re some others that he wouldn’t sign in Toronto
what about ottawa crybabies if you got nothing good to say then ………
Aww come ON man – NO ONE from Ottawa was indulging in pie-in-the-sky fantasy signings. But you certainly can’t say the same about some Leafs fans – not all, because most like Schticky and Dan – were realistic about, not only the prospect of signing Stamkos, but the wisdom of going down that road.
No worries there are real common sense Leaf and Ottawa fans & fans that are just plain dumb, believing everything they read in media or on forums like this(where many Leaf fans or non think they know stuff when they know squat).
The Leafs are finally rebuilding the right way. While they couldve overpayed here they didnt. They want to do things right.
Did people really believe they signed Kadri to be an overpayed 3rd line Center?
We’ll get over it but, as a Leaf fan born and bred in Markham, I’m proud of Steven Stamkos – Good on ya, Steven!
George O, a lot of us leaf fans didn`t think it would be a good fit at this time. I for one think he did what was best for himself and the leafs by resigning in Tampa. But, the big question here is why are you out trolling George. There was no other purpose for your comment. You always get mad when someone accuses of trolling, but, here it is plain as day.
I for one enjoy a good… hey look what didn’t happen but you said it would stance, in this particular case I just think it’s funny how many leafs fans (maybe not all on here) felt that Stamkos to Maple Leafs was basically wrapped up and done.
Then out of the wood works came the Detroit Red Wings are the clear cut now because they moved Datsyuk’s contract so they must be signing Stamkos. Some felt that was not even debatable, and that included reporters LOL.
Then came Bruins (I was included in this group) who felt there may be a chance… clearly wouldn’t have been the best case scenario for us because we need defenseman but hey I can dream.
Stamkos resigns in Tampa! HAHAHA, thanks Stamkos for dragging the league around for the duration of the season only to sign the contract with the Lightning that basically anyone with half a brain knew was the parameters. Love this league!
murray every year says we want a top 6 forward and a top defenseman and then the smoke clears and has neither and doughty is best DEFENSEMAN
Honestly Chad for a while I actually thought that he might sign it T.O. I wouldn`t have been mad if he did, but not the right timing. To me Stamkos is a piece of the puzzle you fit in near the end when you have a better idea of what your needs are, not now. With the cap the way it is and all the kids coming. Toronto really has no idea what they might need 3 to 5 yrs from now and even less of an idea of what they can afford. But it would have been nice to see Stamkos in Toronto. Darn cap anyways
Yogi, I only posted it as more or less a follow-up to what I posted a couple of days ago – ” George O. on June 27, 2016 at 4:01 pm
Considering Yzerman’s “close to the vest” approach and personality, it wouldn’t surprise me to see him deliberately announce the re-signing of Stamkos late Thursday, thereby taking the wind out of the sails of a lot of Leafs faithful. But really, I’m betting Detroit.”
Dan countered that by saying he’s betting TB or Tor, so he was bang on. I really thought Detroit had a shot after unloading the Datsyuk contract, but in the end Yzerman played it perfectly and I was only off by a day.
As for “trolling” Yogi, why wouldn’t I take the opportunity to throw that back in the faces of those who CONSISTENTLY trolled in here for almost a year that Stamkos was “coming home?” Fait accompli.
Ya George, I guess a piss poor excuse for posting the comment is better than none at all. Someone else made me do it. Ya ok George anyway you wanna dress it up, it`s still what it is.
Yogi,
I do agree with you that Stamkos is a piece of the puzzle you fit in towards the end, almost a finishing piece to put you over the edge. I’ve personally never thought of him being the cornerstone franchise building player, that you navigate all future moves around making sure Stamkos is the centerpiece… if that garble makes sense. But, I would absolutely have no issue if he had made it to Boston even if it meant giving him that enormous contract people were throwing around. I know it would’ve meant subsequent other moves because of salary and the immediate need in Boston for upgrades on defense but hey… Stamkos is an elite player in my book and it would’ve been nice to see him and Bergeron on the same team. Oh well. Good for Tampa.
If you think – for a fleeting second – that I regret posting what I did, you’re indulging in even more wishful-thinking. It was aimed directly at those who were gloating over the absolute certainty that Stamkos was “coming home.” Well, don’t look now, but he did go home – the place he’s called home for 8 years.
As a leafs fan I’m relieved that he didn’t sign in Toronto. Posted this a few days ago.
Would it be good to have him in Toronto? For sure. However, this was the wrong time.
Great work being done in Toronto and this wouldn’t have helped.
Its true that some fans came out and thought it was a lock, others (including me) prayed it didn’t happen.
damn u george
i told ya stamkos wouldnt be a leaf 100%
maybe it was meant to be to get martin so he can beats up phaneuf
He left money on the table in terms of endorsement. Apparently he could have been able to rival Crosby in terms of endorsement deals by playing in Toronto. Also, that income would not be subject to escrow, and in Canada, can be much more tax efficient as it would likely be earned through holding company and paid as dividends earning a series of tax credits. Also there is potential in playing in Toronto for endorsement deals that last long after his playing days. So overall, Stamkos could have earned more in Toronto.
That being said, he obviously valued having a better chance to win more than anything. His best chance to win happened to come in a market he is already comfortable in. No matter how good you think a team might be, there is always a chance to lose. So the team with the best chance to win, is the team that will have more competitive years while you are in your prime. Tampa is a team with two straight deep playoff runs, and will continue to get better year over year while Stamkos is in his prime. They offer the most kicks at the can, and he didn’t have to make a change to get it.
Stamkos was thought to be the one superstar player to break the mold in the sense of having no choice where he was drafted to, but choosing to play for his home town team. Being touted as being able to handle the pressure of a major hockey market, make more money now and in the future with endorsements than he would anywhere else if he signed with the Leafs. So as it turns out, all the times he told people he wanted to play for the Leafs was a giant load of BS. Sure Tampa is better equipped to win a cup in the near future. But what if they don’t? There are no guarantees and regardless of how much or how little he signed for, that roster will be weakened each year, as players are moved to afford bigger contracts. Not to mention every team is trying to get better. And so it turns out he is just like all the rest, mostly interested in a low risk, high reward, life in anonimity, with a contending team. A sad day when I have heard people refer to Lebron James as having more confidence, character, drive and ambition to be a game changer. These franchise players never move by choice. The NHL should just allow their contracts to be in place until they retire. Its strange that a team has to finish in last place to not get screwed ten years later. For the record I think the Leafs will be OK without him. And yes it was his choice and right,but hockey fans from all teams should be spared the drama, canned speeches and inevitable outcomes from “franchise players, because they always take the easy way out. Steven Stamkos did not and does not owe anything to anybody. But after all the veneration and homage he paid to the Leafs, being a fan growing up etc., he owed it to himself.
I doubt there was one instance where Stamkos walked up to a reporter and voluntarily let it be known – without being asked – that, yes, hew grew up a Leafs fan while living in the GTA and, like every kid of his age, dreamed of wearing the blue & white. That just did not happen. Instead, it was probably some local media homer looking for material to flesh out a column or use in a broadcast who put the question to Stamkos. What is he supposed to say – “I wouldn’t play in that fish bowl for all the tea in China?” It’s called diplomacy.
I think Yzerman is slowly turning into a GM that should be pretty revered. He handled the Drouin situation extremely well, he has Stamkos signed at a very good cap hit. Honestly, you won’t find a better forward in the league signed for a smaller cap hit who isn’t near the end of that contract awaiting a raise, or on an ELC.
I think Yzerman’s only recent misstep is giving Callahan too much money. He is also doing so by not being too stubborn but at the same time sticking to his word. He stuck to his guns about Drouin, but didn’t shut him out when he was willing to bury the hatchet at go play in the AHL. He wouldn’t go over 8.5 million to Stamkos, let him talk to other teams, but didn’t shut the door when Stamkos wanted to come back.
Tampa will be a force for quite some time.
I think Stamkos wanting to stay in TB and win a cup makes Yzerman look good – he gave Stamkos an offer and after that it was out of his hands. Lucky for him no other Cup contenders had cap room so the only other players in the market were teams that aren’t contenders right now. As for those who are gloating because he didn’t sign for Toronto – I wish you’d spend as much time cheering FOR your own team as you do cheering against The Leafs – to even suggest that him coming to Toronto wasn’t a possibility is ridiculous – of course he debated on coming home – why wouldn’t he?
I said quite awhile ago that 8.5 was not a bad offer in FLA – Buffalo it equals 9.3 not sure on Mich but no other teams are close to winning the cup, so quite sure that figured in too.
Although I lately thought he gone too
good choice for Stamkos i guess. not a fan of the lightning but they are contenders for the time being. Toronto would have been good for his homecoming.
And the tax thing people keep seeming to forget is that he still is a Canadian resident and thus still pays income tax to revenue Canada it’s not as big a difference as some believe. Basically I doubt tax had as much to do with it as the team he wanted to play with.
You pay tax where you spend most of your time, where work is. It’s not Canada, but Tampa for Stamkos. I did a quick calculation on salary left, after taxes, and $8.5M in Tampa is equivalent to $10.2M in Toronto.
There are ways to advance tax plan in Canada, if you want, by weighing the contract 30% on bonus money and defer money to funds that pay out after an active career. In the end I think bids got fairly close when comparing money after taxes – so he chose the best team – Tampa.
“If Stamkos was staying, he would have re-signed by now”
I kid, I kid!
But I’m happy he is staying put!
There aren’t that many examples of what Stamkos did in any sport. Usually if they choose to become free agents, they leave. This was an aberration.
I would have liked Stamkos in TO but he made a very logical choice for winning and for the team by leaving money on the table. Now I suppose we have to hear about Traveres until he resigns? He is better than Stamkos but I bet he signs in NY.
Lol to all the Leaf fans that thought that Stamkos was definitely coming home to Toronto. Sorry Leafland but Stamkos just doesn’t think that you’re any good at least not as good as Tampa any ways.
Another troll out. Gary we`ll let you in on a little secret, they finished 30th, in other words last. Try to keep up Gary, it`s tuff enuff being a leafs fan, but at least try to keep up.
Probably the best choice if he wants to win.
Every other team mentioned is pretty much in rebuilding mode.
Stamkos liked a tweet!!!! He’s coming home!!!!!!
Lmao! Seriously, some of you deserve this!!!! And you KNOW you do!!
I love the absence of professor striker tonight…… God, how many times was he wrong this week!
Weber, pk will NEVER be moved, ….Hall!??? Lmao….
Once again striker it’s okay to say ” I don’t know ” once in a while!!! Or everyday!!!
I’m sure you’ll have a response once you’re done solving world hunger, swimming with sharks, etc.
No layovers today,?
Many people were so wrong on these subjects. It’s a wake up call for many. I had a lengthy argument with someone here about Weber, which I thought should/could be moved a year ago. Hall is good but doesn’t have that much impact if I’m honest. Edmontons forwards needs D. Edmontons goalie needs D.
I did a quick calculation on salary left, after taxes, and $8.5M in Tampa was equivalent to $10.2M in Toronto. I think bids got fairly close when comparing in the end. Nobody knew what he would go for, but in the end he wanted to stay and to win.
I was almost flabbergasted that TSN totally omitted the cap-recapture penalty when analysing the Weber-Subban trade. It would have serious ramifications for Habs and Predators cap. So serious that it would be very unlikely that Weber would retire early. Even if he was injured, he would just be placed on LTIR so he would still gain the paycheck, and the Habs would be able to regain most of the cap hit, while Predators avoid the re-capture penalty.
Gotta disagree on how Stamkos affects the Bolts. His contract is very favorable to being able to keep a very strong core together. They will be able to fit Kucherov and Hedman into a long-term plan, and while it may mean they have to lose a couple of guys, their depth can absorb it, and their seemingly unending pool of prospects is waiting there to be tapped.
Of course, if you can move cap hits like Bishop or Carle, that helps immensely. Maybe they can also consider moving Callahan on a retained salary deal that would free just a bit of space.
Either way, Tampa is going to be Cup contender for the next half-decade after this move.