It’s official. The Carolina Hurricanes and Seth Jarvis have agreed to a contract, and it’s a huge one. The Hurricanes announced the two sides agreed to an eight-year, $63.2 million deal that goes through the 2031-32 season. That will make Jarvis 30 years old when the contract expires.
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How the contract was constructed shows how smart the Hurricanes’ front office is down from general manager Eric Tulsky to compliance assistant Earl Schwartz. Let’s dive into how the contract looks and its impact on Jarvis and the team going forward.
Signed, Sealed, & Done
Without diving too much at first glance, the Jarvis deal looks like a normal, everyday contract. Typically, you just take the total dollars and divide it by the length which comes out to an average annual value (AAV) that will go on the books. However, this is no normal deal. On paper, this should be an AAV of $7.9 million for the Winnipeg native when you take $63.2 million and divide it by eight years. In this instance, there will be some deferred money involved.
Deferred payments are allowed in the Collective Bargaining Agreement (CBA) and it seems like the team is the first one to use it, just like the Vegas Golden Knights and Tampa Bay Lightning with long-term injury reserve (LTIR) loopholes. The NHL’s CBA calls for a time value of money discount calculation which comes at different times and dives into way more details than normal contract negotiations.
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All of that being said, the Hurricanes will be saving $400,000 per season for the next eight years. This means that they will only be paying Jarvis $7.5 million on an official cap hit status. By the time the “deal” is done, Jarvis will be owed $3.2 million in a ninth year for the deferred money, which lowers the AAV throughout the contract. Furthermore, there is another interesting addition to his contract which includes $29.24 million being given in signing bonus payments. What will this contract mean moving forward for Jarvis and the Hurricanes?
Eight More Years of Jarvis
This is a deal more than worth it for the 22-year-old forward who had a career year last season for the Hurricanes. During 2023-24, he tallied 33 goals, 34 assists, and 67 points (all career highs). Furthermore, he even added highs with 13 power-play goals, two shorthanded goals, and nine game-winning goals. His season was so spectacular that he led the Hurricanes in power-play goals and was tied for the team lead in shorthanded goals with Jaccob Slavin. Plus, he was second on the team in game-winning goals, one behind Sebastian Aho, and was second in assists.
What’s even more impressive is that he did this while having a torn labrum and rotator cuff. Being able to do normal things while injured is tough, but to play 60-plus NHL games while injured is otherworldly. Furthermore, he even played 11 playoff games, recording five goals and four assists for nine points, even with a broken finger in the first round versus the New York Islanders. It’s safe to say that Jarvis is built differently.
The 13th overall pick in the 2020 NHL Entry Draft has progressed exponentially over three seasons in Carolina. He saw his average ice time go from 13:53 in 2021-22 to 16:12 in 2022-23 and to 18:45 during 2023-24. Furthermore, his overall 200-foot game has gotten better, and is someone head coach Rod Brind’Amour can put out in all situations. All of this has led to him getting the proverbial bag that everyone knew he would, and should, get.
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When asked about signing Jarvis to the unique eight-year deal, Tulsky stated, “Seth is a cornerstone player for our franchise. He took another huge step last season, playing in all situations and displaying the skill and competitive drive that will make him a star in this league in the years to come.”
This speaks volumes of how much the Hurricanes love and value Jarvis to have him locked up through 2031-32 along with Aho who is set to have his new eight-year deal begin at the same time. The team has two cornerstone linemates being together in Raleigh for the next eight seasons. The NHL has officially been put on notice for the next dynamic duo coming from the Old North State in Raleighwood.
Is It October 11th Yet?
Labor Day weekend will be one to celebrate for the fans of the Hurricanes after the Jarvis contract news. We are 41 days away from the team’s opening night game versus the Lightning at home in PNC Arena. The atmosphere will be electric, especially when Jarvis’ name is announced knowing he will be a Hurricanes player until he is at least 30 years old. There is a good chance he will be a Hurricane for life which is something the fans and the team should be happy and excited for. It will be fun to watch Jarvis continue his trajectory as a rising star (possibly superstar?) in the NHL. Either way, it’s time to enjoy eight more seasons of “Jarvy”.
