Matty Beniers’ extension is finally here. And the price tag for the Seattle Kraken to keep the 2023 Calder Trophy winner among the ranks of their top-six is a staggering one.
Following months of radio silence, the 21-year-old centerman’s seven-year, $7.14 million AAV deal broke Tuesday afternoon to the chagrin of fans eagerly awaiting it. Beniers’ extension makes for the third seven-year contract inked this offseason, sparking concern as to whether general manager Ron Francis may be spending money like the Puget Sound waters the team calls home.
Apprehension is understandable. Chandler Stephenson and Brandon Montour’s own seven-year deals cannot be truly evaluated until the preseason, still another month away. Until then, fans are left with plenty of time to fret over whether paying two 30-year-olds almost into their 40s is a move that will age gracefully. And, coming to $151 million total including Eeli Tolvanen’s extension, Seattle’s free agency and re-signing spending on multi-year standard contracts this offseason has almost tripled the last’s.
Indeed, these are the unprecedentedly costly moves that the franchise has historically shied away from.
Consider that Jared McCann, the team’s only candidate for a ‘star player’ as their scoring leader each of the past three seasons, is paid a crisp $5 million every year. Philipp Grubauer’s six-year, $5.9 million contract is loathed as the worst in franchise history preceding an injury-ridden and uncompetitive tenure. Vince Dunn is promised a team-high $7.35 million annually, sure, but only over four years.
Flexibility is ideal for the Kraken when possible, even when a player’s quality of performance can almost be guaranteed. Naturally, the sudden shift to long-term commitments is uncomfortable.
Worse, Beniers is coming off a down season. Despite the consistency of his first-line role and importance to offensive efforts, estimates for Beniers’ contract suffered alongside his scoring during his sophomore slump. His 15 goals ranked fifth overall last season on a roster that finished 29th league-wide in total goals scored, and his points declined to an unimpressive 37. An expensive bridge deal seemed the safer, and therefore the likelier route given Beniers’ inability to return to form before 82 games were up.
But as it turns out, the reality of Beniers’ extension resembles initial projections theorized prior to his slump, justified on the basis of the talent he’d proven and the potential skill yet to come as a former second-overall pick.
Are the terms of Beniers’ extension an indication Seattle is confident he’ll be able to rebuild his confidence and provide 50-point seasons down the line? It’s doubtful Francis would’ve signed off if that weren’t at least partially the case. Keep in mind that Beniers’ defensive trustworthiness is a trait highly valued in the organization– a defensive-minded centerman is the kind of player Seattle is eager to build around.
Francis confirmed as much in the team’s press release. “Matty has been a core part of our team since making his NHL debut, not only on the ice, but in his commitment to our community and our fans,” he said. “Signing Matty to a new contract was a top priority for our offseason, and we are excited to have it done.”
Of greater influence to the deal’s terms, however, are the demands of the market. On average, centermen today are earning $8,555,824 annually on contracts lasting 7.2 years. With his extension, Beniers now ranks 40th among centers according to annual cap hit. Stephenson ranks 49th. Seattle signed two top-six centers to relatively affordable deals by positional standards and managed to keep Pat Brisson at bay– Beniers’ agent owns six of the priciest centerman contracts in the NHL right now.
With their glaring similarities and the proximity of their signings, it’s instinctual to evaluate Beniers’ deal alongside Stephenson and Montour’s. Of course, there is a benefit to broader perspectives, specifically when considering the team’s loosening approach to acquiring talent and its implications for the franchise long-term.
But Stephenson and Montour’s contracts were signed under different circumstances. As the designated flashy offseason signings, they’ll be judged according to their ability to add forcible scoring to the lineup immediately. High risk, high reward, but worth it from the team’s perspective given their promises to be aggressive in revamping the offense.
In contrast, Beniers’ youth and drafted origins means Seattle holds stake in his development– $50 million over seven years is paying for two-way growth, an existing relationship with a player capable of filling an important role, and the appeal of owning recognizable, ‘franchise-grown’ talent.
As Francis pointed out during media availability last month, offering extensive term is necessary to even begin negotiating with free agents in today’s NHL. Impactful signings are lucrative signings. Beniers’ unique value to Seattle– and the price of keeping him from leaving– was likely going to demand something similar to this extension regardless of Stephenson and Montour. And the Kraken were likely going to pay it anyways.
If Stephenson and Montour don’t pan out to be the forces of nature they were marketed as, their signings will deserve all the criticism. But don’t let the potential risk of their deals rub off on the assured benefits of Beniers’.
Centerman information via PuckPedia.