Wednesday, September 02, 2009

Luongo Signs 12 Year Extention

Roberto Luongo is the newest entrant into the "millionaires club" as the workhorse goalie signs a 12 year extension. The real deal is scheduled to kick in after his current contract expires at the end of this season. The new deal will guarantee Luongo will be in Vancouver after the ripe old age of 40.

I am not sure what Vancouver GM Mike Gillis is thinking here. It has all the earmarks of an albatross contract, but with some out clauses to help either side move on in case it doesn't work out. Luongo, once rejected in two hockey markets, is known to be a steady goaltender who could steal a game or two on his own. One thing that does not justify the $64 million dollar price tag is that Luongo has never in his career had an opportunity to win a Stanley Cup.
Good numbers for an NHL goalie, but wouldn't this money be better invested in the team that the Canucks can put in front of Luongo?

It's speculative of GM's in the NHL, but it seems like the eagerness to lock up a player long-term is beneficial for them. Hockey needs stable player movement just like it had when players only wore one or two sweaters their entire career.

[Via: ESPN & Sportsnet.ca]
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