Canadiens, Subban Agree on Contract Next Day After Arbitration Hearing

One day after their arbitration hearing, the Montreal Canadiens were able to get a deal done with prized defenseman P.K. Subban. The deal is worth eight years and financial terms weren’t made public by the two sides but is reported to be $72 million.

The positive is that despite both sides going to the arbitration table Friday morning, the ruling won’t need to be made. His new contract will take effect this season, and Subban’s $9 million cap hit will be the third-highest in the NHL in 2014-15 behind Alexander Ovechkin and Evgeni Malkin. He’ll drop down a couple spots in 2015 when the new contracts for Chicago’s Patrick Kane and Jonathan Toews take effect.

Despite his young age, he carries a great deal of experience and brings contagious energy to the team. Defensemen of his level are a rare commodity in the NHL. – Montreal general manager Marc Bergevin.

As for the breakdown of what his salary will be year-by-year, he’ll enjoy an 88 percent increase this season compared to what he made last season. For 2014-15 and 2015-16 he will make $7 million. That salary will jump to a contract-high $11 million for two seasons in 2016-17 and 2017-18. He’ll be 27 and 28 years old respectively during those seasons. The following two seasons it will drop to $10 million and the following two years of his contract in 2020-21 and 2021-22 it will drop to $8 million. He will be 32 years old when his contract ends in 2022.

“We are very pleased to have reached a long term agreement with P.K. Subban. This agreement helps consolidate the future of our team. A key element of our group of young veterans, P.K. plays with a high level of intensity every time he steps onto the ice. Despite his young age, he carries a great deal of experience and brings contagious energy to the team. Defensemen of his level are a rare commodity in the NHL” said Canadiens general manager Marc Bergevin.

He’ll be cemented as the cornerstone of the franchise along with forward Max Pacioretty, who is signed through 2019. in 2013-14, Subban  played all 82 regular season games and recorded 53 points (10 goals, 43 assists). When he won the Norris Trophy in 2012-13, he became the first Habs player since Chris Chelios in 1988-89 to win best defenseman honors. The Canada international has won gold medals in four tournaments (2008-09 World Juniors, 2013 World Championships and 2014 Olympics).

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