The Montreal Canadiens have announced they have come to an agreement on an eight-year deal with defenceman P.K. Subban.
The two parties were unable to come to a deal before an arbitration hearing, which took place Friday in Toronto.
The arbitrator had until Sunday afternoon to make a decision on what Subban would be making during the 2014-2015 season.
However, the two parties had until the same deadline to come to an agreement, and they did.
In a conference call with reporters Saturday evening, Subban said he wasn’t holding out for more money.
“It wasn’t about the dollar signs. If I could do a 20-year contract with Montreal, I would. I think I’ve been adamant throughout my career, I’ve been consistent in saying Montreal’s where I want to play and where I want to be,” he said.
“I wanted a long-term contract probably before I deserved one.”
Thank you to @canadiensmtl for making a commitment to myself and my family. Im Excited about the future! #letsgetit
— P.K. Subban (@PKSubban1) August 2, 2014
The team did not disclose the monetary value of the contract, but TSN’s Bob McKenzie reported that the deal has an average annual value of US$9 million a year.
Subban will now theoretically wear a Habs jersey through to the 2021-2022 season, when he will be 33.
"Despite his young age, he carries a great deal of experience and brings contagious energy to the team. Defencemen of his level are a rare commodity in the NHL,” Habs General Manager Marc Bergevin is quoted as saying in a news release.
Subban recorded 53 points in the 2013-14, and was the only player on the team to dress for all 82 regular season games.
He was also a pivotal part of the team’s playoff run. They were eliminated by the New York Rangers in the Eastern Conference Final.
CTV Montreal’s Brian Wilde pointed out that the cash flow the NHL will have after the Rogers Sportsnet deal kicks in will likely make Subban’s contract look like a steal in coming years.
Bergevin did what he had to do. He deserves every Habs fans support here. He could not lose this player. He looked into the future well.
— BrianWilde (@BWildeCTV) August 2, 2014
Subban said the contract should lay to rest any doubts people have about what his team thinks of him.
“I think it’s a strong commitment. When you talk about them committing to me on a long-term basis, on a basis that is much different than … they’ve ever given before, I think it sends a strong message to me that they want me here, they appreciate everything I’ve done to this point and they believe in me as a player,” he said.
