Pittsburgh History: The Pens signed another superstar 20 years ago
Just prior to the start of the 1992 hockey season, Mario Lemieux signed a seven-year, $42 million deal with the Pittsburgh Penguins.
Thursday, the Pens and Sidney Crosby announced a contract worth $104.4 million over 12 years.
It’s interesting to note that the deal Lemieux signed 20 years ago wasn’t far off from Crosby's cap hit. Of course, Lemieux ended up buying the team as a way of collecting money due and kept the Pens in Pittsburgh along the way.
It’s hard to say whether Lemieux took any less money to stay in the ‘Burgh, as Crosby has been commended for so doing. His deal nearly doubled the NHL’s next highest total payout. Eric Lindros signed a six-year, $21 million deal earlier in 1992, according to the
Associated Press.
Mario Lemieux after scoring a goal against the Bruins
Fast forward a couple of years to the summer of 1994.
Penguins owner Howard Baldwin offers season-ticket holders refunds. Lemieux announced he would miss the entire 1994-95 season while recovering from anemia caused by the radiation of Hodgkin’s treatment. Lemieux’s lymphoma, along with a bothersome back, limited the center to 82 games, combined, in 1992-93 and 1993-94, even before the lockout of 1994-95.
"I will be shocked if anyone is interested in jumping off the bandwagon," Baldwin told the
New York Times. "But if they want to call me, I will accommodate them."
In retrospect, it probably was a good time to jump ship.
Crosby could be one random hit away from missing significant playing time, just like Lemieux did after inking his megadeal.
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Penguins GM, Ray Shero, refused to reveal whether the team has insurance on Crosby’s contract.
Twenty years ago, Lemieux’s deal was protected by insurance, but neither agent Tom Reich nor Baldwin would discuss the details. The more things change, the more they stayed the same.
A clause in Lemieux’s contract did call for a $4 million payment 30 days after he played his final professional hockey game, according to the
NY Times.
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Long-term deals have caused fits for more than a few teams. The Islanders handcuffed themselves with a 15-year, $67.5 million deal with Rick DiPietro. Vancouver looks to shed the remaining portion of Roberto Luongo’s 12-year, $64 million contract. The problem with lengthy deals is that players have to continue putting up league-leading statistics just for the team to breakeven.
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Sidney Crosby’s contract is “only” for $8.7 million per season, but it’s the 12-year length that should make Penguins fans think twice. Granted, if the Penguins wouldn’t give Crosby 12 years, the rest of the league would.
Sidney Crosby lighting one up in practice
His cap hit gives Pittsburgh flexibility to add unrestricted free agents, so long as they don’t want more money than Crosby.
Here’s a mock phone call from Ray Shero to Zach Parise on July 1 at 12:01 pm ET.
“So, what will it take for you to sign with your buddy Sid, Zach? He took $8.7 million and we don’t want to pay you more or front load your contract. What, the Minnesota Wild is offering you a frontloaded deal worth $14 million per season. Best wishes figuring out Mike Yeo’s power play. Click.”
The Crosby deal also could put Evgeni Malkin in a tough spot. Should the reigning Hart Trophy winner ask for more money than Crosby next summer?
He can make a stong on-ice case that he deserves it – more goals, more assists, more TOI.
One thing Malkin doesn’t have is the endorsement money Crosby has. Crosby inked a
$10 million endorsement deal with Reebok in 2010.
In the last several days, owners have floated the idea that new contracts should be limited to six years. While it’s difficult to see players agreeing to such a restriction, it’s interesting to note that Crosby’s is double that in length.
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Google Searches
Here’s a neat little biography on Crosby from
Kidzworld.
Crosby ranked 39th in
Business Week’s 2010 Power Poll among athletes. Needless to say, Alexander Ovechkin has probably dropped from his No. 37 status.
The Penguins talked little about insurance Thursday, but Crosby would walk away with $20 million if he was forced to retire, according to
The Star.
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Treasure life!
JT
Pittsburgh Penguins Blogger • 
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