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Pittsburgh Penguins Sign D Kris Letang to Six-Year Extension

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Jon
July 7, 2022  (12:58)
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The Pittsburgh Penguins have announced a brand new 6 x $36.6 million contract extension for Kris Letang:

The part that immediately jumps out is the term of the deal. Six years for a 35 year-old might seem irresponsible, but GM Ron Hextall likely needed the AAV to sit as low as possible. Naturally, the added term was a compromise to get a deal done. It looks brutal, as Letang will be 41 at the contract's expiration, but if Pittsburgh is able to secure another Stanley Cup it won't matter. Also, as the Penguins social media team points out Letang will retire a Penguin, which was up in the air until now.

Letang, even at 35, is still a high-end offensive defenseman. Keeping his cap hit at $6.1 million leaves the Penguins with $15.3 million in cap space to round out their roster this summer. It would be unsurprising to see someone like Mike Matheson moved this summer to clear additional cap room, but there has not been anything reported on that; just speculation.

Letang is a beloved figure in Pittsburgh, and the club appears locked onto enshrining him into the city's prized sports lore. He will likely join the likes of Sidney Crosby, Jerome Bettis, Terry Bradshaw, Mario Lemieux, Mean Joe Green, and Lynn Swann among many, many others in Pittsburgh's deep & storied sports history. Time will tell how this deal ages, but for now Pittsburgh still believes they can win now & look committed stacking their deck accordingly.