According to multiple reports, the Toronto Maple Leafs are very close to signing Auston Matthews to what could be a historical extension.
Ever since the Toronto Maple Leafs signed John Tavares, people have wondered how they will manage to afford all of their great players under the salary cap. Specifically, people have wondered about Auston Matthews and Mitch Marner, both of whom will be restricted free agents after this season.
According to James Mirtle of The Athletic (subscription required), Matthews is on the verge of signing his extension. TSN has talked about these rumors multiple times during their Insider Trading segments. Both sources are reporting the extension should be for five or six years and will cost roughly $10 million each year.
UPDATE (12:26 PM EST): Bob McKenzie is reporting the deal will be for roughly $11.5 million annually.
Situation today is no different than what we reported on @LeafsLunch1050 yesterday — Auston Matthews’ contract extension with TOR appears imminent. Today, tomorrow, whatever, it’s getting done. Projection is 5 years with an AAV of $11.5M, give or take 100K or 200K.
— Bob McKenzie (@TSNBobMcKenzie) February 5, 2019
Impact Around The League
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This extension could be historic and should change how players think. Generally, players will sacrifice the potential of earning more money for a long-term contract of seven or eight years. That’s understandable since injuries happen quite often in the NHL.
However, look at the NBA. Their players are constantly getting paid because their best players are constantly resetting the market thanks to short-term contracts. This also provides benefits for the teams, as they don’t have the worry about the risk of signing someone for, say, seven or eight years.
Matthews is the first star player in recent memory to sacrifice term for the chance to earn more money. Admittedly, it is a bit of a risky move. After all, says who the inevitable lockout and renegotiation of the collective bargaining agreement will help the salary cap ceiling increase?
But looking at the success of the Vegas Golden Knights and the potential success of Seattle’s NHL team (which should start playing around 2021), it’s a wise bet to assume the cap will rise. Ergo, players’ salaries will rise.
Impact On The Leafs
It would be wise for the Maple Leafs to get this done with Matthews now. The longer they go without signing him, the harder it will get to sign him. And if the Leafs don’t sign him by July 1, teams could sign him to an offer sheet. Granted, nobody uses them. But that’s because players like Matthews are very rarely available. If there’s a player who teams could easily justify losing four first-round picks for, it’s him.
Matthews’ deal could help the Leafs set a ceiling for Marner’s next contract as well. It should set their budget for the future too.