Breaking: Shea Weber agrees to offer sheet with Philadelphia. 14 years, upwards of $100 mil. Preds have 7 days to match. Wow!!
— Darren Dreger (@DarrenDreger) July 19, 2012
The news broke late Wednesday night that Nashville Predators’ defenseman Shea Weber has agreed to a 14-year offer sheet worth upwards of $100 million with the Philadelphia Flyers. According to TSN’s Darren Dreger, the Predators had been actively working on the trade front to deal the Norris Trophy nominee to various teams in the league. Weber allegedly grew tired of the waiting game and signed an offer sheet with Philadelphia.
The Predators have seven days to match the Flyers’ offer. Otherwise, Shea Weber will become the newest member of the Philadelphia Flyers. Should the Predators choose to allow Weber to go to the Flyers, they will be compensated with either four first-round picks or two first-rounders, a second-round pick, and a third-round pick from the Flyers, as per the rules of the current CBA. The actual annual value of Weber’s new deal would determine the ultimate return.
It was widely known that the Flyers were seeking to bolster their blue line after concussion problems put the career of top defenceman Chris Pronger in jeopardy. After losing out on Weber’s former defensive partner, Ryan Suter, in free agency, the Flyers took an alternate route to acquiring a marquee defenceman, via an offer sheet.
This would be a landmark case in the issue of restricted free agents and offer sheets, as such a massive contract has not been signed through an offer sheet until now.
Stay tuned to The Hockey Writers for more on this developing story.
UPDATE: The breakdown of the contract:
Weber will receive $14 mil in each of 1st 4 years. $12 mil in next 2 yrs. $6mil in following 4 yrs…then $3mil and $1mil, $1mil,$1mil,$1mil
— Darren Dreger (@DarrenDreger) July 19, 2012
Orriginal offer sheet for Shea Weber was 1yr, but Preds would match. $68 mil in bonus $ in 1st 6 yrs, $27 mil total in less than 1 year.
— Darren Dreger (@DarrenDreger) July 19, 2012
Nashville shouldn’t match. This contract will be a noose around their neck just like Roberto Luongo’s deal and Rick Nash’s contract. With the new CBA’s salary cap projected to go lower, paying so much money to Weber alone will do nothing but hinder Nashville’s progress. Time to just say goodbye.
The only thing that would ever make me want to sign with a team I’ve never played for for 14 years is the $100+ million. I’d really like to know what Nashville offered him.
The Predators, should they match, would have to pay him over $26M in the first year and they can’t trade him for more than a year. Seeming unlikely that they’ll match.
Again, the question I have is this: although it’s unlikely to come to pass, what if the owners do indeed get that 5-year limit on contracts that they “demanded” in their first proposal in the CBA negotiations? How does this affect the long-term contracts that have already been signed, and perhaps more importantly, just how hypocritical is it for the owners to demand a 5-year limit on contracts, only for a handful of them to go out and give the go ahead to their GMs to sign players to 10+ year contracts? Ridiculous.
Collin, I completely agree. How many of these owners have been crying foul regarding free agent money, but are sending out these mammoth offers to guys like Parise, Suter, Wideman, Weber, et al? I think hypocritical is the perfect word. I understand that the market drives up prices, but is there no accountability amongst GMs/owners to give fair pricing?
The contracts would likely be grandfathered into the system, much the same way mandatory helmets were way back when.
Ever since Denis Wideman signed as a FA the contracts FA and UFA’s want are insane. Suter and Parise combine for 196 mill PAP 16mill after 2 good seasons David Jones after 16 mill after 2 decient.
Nick, you’re bang on. Free agent money is getting out of control.
Yet, the owners claim they are poor.
What do people think of this situation? To me Nashville should be happy; they don’t need to convince Weber to sign long-term, they only need to match Philadelphia’s offer. If Weber wanted out, maybe he should have demanded only a one-year deal and waited for next year. Thoughts?