cccsberg Posted August 25, 2015 Report Share Posted August 25, 2015 Also to note. It's a full no trade clause for the first 4 years and a limited (10 team list) no trade clause for the last 2 years. The first 2 years salary is $4.75 million plus $2 million signing bonus. https://twitter.com/reporterchris/status/636232101071847424 https://twitter.com/reporterchris/status/636232538709721088 Wait a minute, doesn't a signing bonus get treated differently than normal salary i.e. the Cap? Link to comment Share on other sites More sharing options...
OilersAreHighlyFlammable Posted August 25, 2015 Report Share Posted August 25, 2015 Awesome signing. I was also one who was thinking around 7-8M AAV would have been fair. This is a great deal for both sides. Also glad it is out of the way, as BT was saying this re-signing was at the top of his priority list. I think that means the Ferland re-signing will happen very soon now. Link to comment Share on other sites More sharing options...
Kulstad Posted August 25, 2015 Report Share Posted August 25, 2015 Wait a minute, doesn't a signing bonus get treated differently than normal salary i.e. the Cap? I hope I'm citing this section of the CBA properly (source: http://www.nhl.com/nhl/en/v3/ext/CBA2012/NHL_NHLPA_2013_CBA.pdf)... Article 50.2©: For each League Year, "Actual Club Salary" for each Club shall be calculated as the sum of the following amounts: (i) The aggregate Player Salaries and Bonuses paid or earned for that League Year for all Players on the Club's Active Roster, Injured Reserve, Injured Non-Roster and Non-Roster Does this help? Link to comment Share on other sites More sharing options...
rocketdoctor Posted August 25, 2015 Report Share Posted August 25, 2015 Great signing and very fair on Flames. Think Gio could have got a lot more so great to see him lead like this and take the team approach. Treliving is having an awesome summer. Nice presser as well which confirms much of our thoughts in this thread. Link to comment Share on other sites More sharing options...
cross16 Posted August 25, 2015 Author Report Share Posted August 25, 2015 Wait a minute, doesn't a signing bonus get treated differently than normal salary i.e. the Cap? Not against the cap no, it helps Gio out because a player's escrow is calculated based on your salary not your cap hit so Gio will pay less into Escrow which just means he'll keep more of his money. From a cap hit perspective, it doesn't matter. Link to comment Share on other sites More sharing options...
Flyerfan52 Posted August 25, 2015 Report Share Posted August 25, 2015 Wait a minute, doesn't a signing bonus get treated differently than normal salary i.e. the Cap? It merely means he gets a lump sum on July 1 of that year with smaller checks during the rest on the year. In the case of players without a NMC/NTC it lowers the true $s owed in case of a trade but for cases like this it's money that can be invested over the year putting the interest in the player's account rather than the team's account. On 2 million even 3% becomes 60 grand (that will cover some of the extra taxes Alberta can look forward to since the last election. ). Link to comment Share on other sites More sharing options...
kehatch Posted August 25, 2015 Report Share Posted August 25, 2015 Not against the cap no, it helps Gio out because a player's escrow is calculated based on your salary not your cap hit so Gio will pay less into Escrow which just means he'll keep more of his money. From a cap hit perspective, it doesn't matter. The part about escrow isn't true. It was a lot of people's understanding until the O'Reilly contract (almost all signing bonus). But that was cleared up. Escrow factors into the signing bonus as well. The advantage to the player is they get the money immediately. On the contract, I was hoping for 7-million and fearing 7.5 to 8. I was hoping for 5 years but fearing 7 or 8. This isn't the bargain the twitterverse is making it out to be. But it is a very solid signing. Link to comment Share on other sites More sharing options...
CastleMania Posted August 25, 2015 Report Share Posted August 25, 2015 The part about escrow isn't true. It was a lot of people's understanding until the O'Reilly contract (almost all signing bonus). But that was cleared up. Escrow factors into the signing bonus as well. The advantage to the player is they get the money immediately. On the contract, I was hoping for 7-million and fearing 7.5 to 8. I was hoping for 5 years but fearing 7 or 8. This isn't the bargain the twitterverse is making it out to be. But it is a very solid signing. This certainly isn't a bargain, but I think it's a very fair deal to both sides. I'm fairly certain Gio could have gotten more $$ for similar term elsewhere. Especially if he continues to play the way he has been. Link to comment Share on other sites More sharing options...
kehatch Posted August 25, 2015 Report Share Posted August 25, 2015 This certainly isn't a bargain, but I think it's a very fair deal to both sides. I'm fairly certain Gio could have gotten more $$ for similar term elsewhere. Especially if he continues to play the way he has been. Absolutely. There is a bit of a home town discount for sure. That said, I think his free agency contract would very much depend on this season. He has been injured 20+ games / season the last few years. A healthy and productive season and he cashes in big time. An injury or a drop in production and a lot of fears are founded and I think a lot of teams would be reluctant to give him term. That isn't complaining though. I think this contract was close to best case scenario for the Flames and I think Giordano kept it reasonable so the Flames have the cap to be competitive. Link to comment Share on other sites More sharing options...
420since1974 Posted August 25, 2015 Report Share Posted August 25, 2015 I'm very happy that this contract got done for less than $7M/yr. My guess is that this will be like Iginla's contracts, no other player on the Flames will be offered more money than Giordano. Best case scenario; Jones and his $4M contract are moved by the TDL, Hudler & Russell accept minor raises (under $1M increase) to stay with Calgary, Monahan & Gaudreau accept 2 year bridge or Cap friendly long term contracts. One of Hiller and Ramo are traded or let walk as an UFA. The Flames could well be teetering on the edge of Cap hell in 2016/2017, unless Trevling can move out most of the unfavorable contracts such as Engelland, Raymond (NTC), Smid, Stajan (NTC), & Wideman (NMC) Total = $17.84M. 2017/2018 is another matter, only Stajan's contract would still be on the books. Trevling has to pull off some real managerial magic for just one season. Link to comment Share on other sites More sharing options...
MAC331 Posted August 25, 2015 Report Share Posted August 25, 2015 I'm very happy that this contract got done for less than $7M/yr. My guess is that this will be like Iginla's contracts, no other player on the Flames will be offered more money than Giordano. Best case scenario; Jones and his $4M contract are moved by the TDL, Hudler & Russell accept minor raises (under $1M increase) to stay with Calgary, Monahan & Gaudreau accept 2 year bridge or Cap friendly long term contracts. One of Hiller and Ramo are traded or let walk as an UFA. The Flames could well be teetering on the edge of Cap hell in 2016/2017, unless Trevling can move out most of the unfavorable contracts such as Engelland, Raymond (NTC), Smid, Stajan (NTC), & Wideman (NMC) Total = $17.84M. 2017/2018 is another matter, only Stajan's contract would still be on the books. Trevling has to pull off some real managerial magic for just one season. So far I would say BT manoeuvres very well so I feel the future is in good hands Link to comment Share on other sites More sharing options...
travel_dude Posted August 25, 2015 Report Share Posted August 25, 2015 Absolutely. There is a bit of a home town discount for sure. That said, I think his free agency contract would very much depend on this season. He has been injured 20+ games / season the last few years. A healthy and productive season and he cashes in big time. An injury or a drop in production and a lot of fears are founded and I think a lot of teams would be reluctant to give him term. That isn't complaining though. I think this contract was close to best case scenario for the Flames and I think Giordano kept it reasonable so the Flames have the cap to be competitive. This gives the Flames some breathing space cap-wise. Not a lot, as it still necessitates moving Engelland, Raymond, and Smid at a minimum. Russell, Hiller, Ramo, and Jones' expiring contract leave us the opportunity to reduce cap as well. Gio's contract isn't a mammoth one, and he could be traded in the future if needed. Assuming he still has value. Link to comment Share on other sites More sharing options...
swtrooper Posted August 26, 2015 Report Share Posted August 26, 2015 I really like the signing. Glad we locked up the Capt for the rest of his career. Very fair for both sides and glad it wasn't in the $8-9 mil range as lots were speculating. Link to comment Share on other sites More sharing options...
Wreckening Posted August 26, 2015 Report Share Posted August 26, 2015 Thought this was kind of cool. CBC updated their cover photo to our captain. Link to comment Share on other sites More sharing options...
DKim Posted August 26, 2015 Report Share Posted August 26, 2015 I'm so happy this is done before training camp, because it was going to be the biggest distraction to the team since Iggy's trade year. Link to comment Share on other sites More sharing options...
cccsberg Posted August 26, 2015 Report Share Posted August 26, 2015 I'm so happy this is done before training camp, because it was going to be the biggest distraction to the team since Iggy's trade year. Agreed, this signing was critical and demonstrates a commitment to the team that should ripple down to the numerous other guys that'll need to get signed before this time next summer. Link to comment Share on other sites More sharing options...
Carty Posted August 26, 2015 Report Share Posted August 26, 2015 From: http://www.edmontonsun.com/2015/08/25/calgary-flames-mark-giordano-inks-six-year-contract Giordano inks six-year contract extension with Flames 9 Reported average salary worth $6.75 millionBY RANDY SPORTAK, CALGARY SUN TUESDAY, AUGUST 25, 2015 07:47 PM MD Fresh off signing a contract worth US$40.5 million, there must be something on Mark Giordano’s wish list. Or at least something the Calgary Flames captain is thinking of purchasing for his wife, Lauren. “I think she’s had her eye on a house in Calgary, but we didn’t know if we wanted to if this negotiation didn’t get done before the season,” Giordano said. “I’m sure we’ll find something and enjoy it a little bit.” The Giordanos — and it’s worth noting how much they personally have contributed to the Calgary community over the past few years — can plan on being in the Stampede City for a long time. Giordano, who has one more season remaining on his current pact, signed on Tuesday a six-year extension, which kicks in for the 2016-17 season and has an average value of $6.75 million a year. On the surface, it’s a cap-friendly deal for the team, which has a trio of top-level defencemen in Giordano, TJ Brodie and Dougie Hamilton all signed to long-term deals, and must look to the future with youngsters in the likes of Sean Monahan, Johnny Gaudreau and Sam Bennett. It’s also less than Giordano likely would have received by auctioning himself to the highest bidder next summer. “People want to say I left money going into free-agency, but the term the team gave me, six years, is really good,” Giordano said from his off-season home in Toronto. “I will be 33 when the contract starts and I looked at that. “And I also look at it and know we have a lot of good up-and-coming players in the coming years, and our organization has to make sure it can take care of that, also. “As a player — no one’s gonna fool anyone — the bottom line is you look at your situation and the contract you’re about to sign and want to take care of yourself and your family, but I feel I’m in a great position and our team’s in a great position,” he continued. “We have a great young core coming up and I want to be part of that. I really feel we have a chance to contend in the near future. There are guys that will need to be signed and if we can manage to keep those guys, we’ll be in a good spot for a long time.” General manager Brad Treliving, who said in May when the season ended that re-signing Giordano was the No.-1 priority, said the player’s vision of the club moving forward helped bridge the sides. “He’s truly the captain of this team and as we went through the process, it blended two things,” Treliving said. “In any any negotiation, the player’s prerogative — and rightly so — is to look after himself and his family, which we want to do, but also it’s educating that we’ve got a Flames family to look after, as well. We got Mark to a level that works for him and works for us moving forward, and that’s because Mark’s desire is to win here. “In the system we’re in, you’ve got to make sure you have a bit of cake left for everybody and that was the object here, and we got to a good conclusion.” Giordano is coming off a career season in which he collected 48 points, but also missed a quarter of the season after suffering a torn biceps tendon. Had he not been injured, it’s very likely he’d have won the Norris Trophy for the league’s top defenceman. But Giordano’s new deal does have question marks. He’s missed at least 18 or more games due to injury in three of the last four seasons and will be 38 years old during the final season. “I’ve always been a guy who’s peaked at a later age than the norm,” said Giordano, who added his injury is 100% healed. “A lot of it, in my mind, is the off-ice training and conditioning. As you get older, you get smarter in those areas and I’ve learned a lot to try and eliminate the wear on the body.” By the way, Giordano said the reports a couple of months ago that he was looking for an eight-year deal worth $9 million per season were not close to the truth. (That said, his deal is worth around that in Canadian dollars thanks to our floundering loonie.) “When I saw that I thought, ‘Wow, that’s way off,’ but it happens and I understand,” Giordano said. “I had to downplay it to my buddies and my family. Link to comment Share on other sites More sharing options...
darth_henning Posted August 26, 2015 Report Share Posted August 26, 2015 Is it a steal? No. Is it a better than likely market value deal? Definitely. Locks in our top 3 D for a reasonable price (6.8, 5.8 and 4.7) and gives us what could conceivably be the best top-3 D in the league for the next several years. That's a huge step towards being a contender. I suspect we keep Russel as our bottom pair anchor, who can play top 4 when needed for injuries. That just leaves us looking for a Top 4 to replace Wideman at a cheaper cost since I doubt we can manage to retain him at his cost with the other pending contracts. Link to comment Share on other sites More sharing options...
cross16 Posted August 26, 2015 Author Report Share Posted August 26, 2015 I agree with the consensus, this is solid value but its not an outright steal. I would have pegged Gio around 7 if the Flames were going to go 6 year so there is a small haircut there. Gio said it himself, the 6th year was huge and IMO i'm not sure there is another organization that would have gone 6 years. Gio gave up a bit but so did the Flames becuaes I just don't see Gio being worth this contract in year 5 and 6 but thats the trade off for getting the more cap friendly deal right now so its not a huge deal. I just don't think its this massive steal that alot of people are making it out to be. Flames took some risk here. Link to comment Share on other sites More sharing options...
Kulstad Posted August 26, 2015 Report Share Posted August 26, 2015 As far as I'm concerned, this line right here says all you need to know about Gio's class and character “And I also look at it and know we have a lot of good up-and-coming players in the coming years, and our organization has to make sure it can take care of that, also." Link to comment Share on other sites More sharing options...
zima Posted August 26, 2015 Report Share Posted August 26, 2015 This was a great coup for the flames the only concern I have is the Oli syndrome plays great on the contract yr and vanishes after the hug payout. Saying that Gio is a total different animal and I don't think his conscience would let that happen Link to comment Share on other sites More sharing options...
Flyerfan52 Posted August 27, 2015 Report Share Posted August 27, 2015 I agree with the consensus, this is solid value but its not an outright steal. I would have pegged Gio around 7 if the Flames were going to go 6 year so there is a small haircut there. Gio said it himself, the 6th year was huge and IMO i'm not sure there is another organization that would have gone 6 years. Gio gave up a bit but so did the Flames becuaes I just don't see Gio being worth this contract in year 5 and 6 but thats the trade off for getting the more cap friendly deal right now so its not a huge deal. I just don't think its this massive steal that alot of people are making it out to be. Flames took some risk here. It's not a steal but we weren't shopping the bargain bin either. We signed a quality player at a fair price. Link to comment Share on other sites More sharing options...
Flame111 Posted August 27, 2015 Report Share Posted August 27, 2015 Although we are all fine with it now. Mark my words - 4 years out we will be lamenting it as an anchor contract. It is what it is though. Fair contract and if it had been 5 years I would have been thrilled, as it is now that is really one year too long. At some point in the life of Gio's contract he is going to slip to the second pairing and we are all going to be lamenting it. Now though it is what it is, it certainly is his value now. So what do you say - we are all squirming over Wideman as a 2nd pairing D man at 5.25 million and he is only 32... Celebrated today but years from now we know Father time will come calling... Link to comment Share on other sites More sharing options...
AlbertaBoy12 Posted August 27, 2015 Report Share Posted August 27, 2015 I wouldnt be worried about that at all, we have brodie and hamilton both signed to value deals through 2020-21 and they are the only ones I can see stealing his spot. Also Chara is still playing at 39, not as great as he was but still good enough, GIo will be 38 at the end of the contract. Link to comment Share on other sites More sharing options...
Flyerfan52 Posted August 27, 2015 Report Share Posted August 27, 2015 Although we are all fine with it now. Mark my words - 4 years out we will be lamenting it as an anchor contract. It is what it is though. Fair contract and if it had been 5 years I would have been thrilled, as it is now that is really one year too long. At some point in the life of Gio's contract he is going to slip to the second pairing and we are all going to be lamenting it. Now though it is what it is, it certainly is his value now. So what do you say - we are all squirming over Wideman as a 2nd pairing D man at 5.25 million and he is only 32... Celebrated today but years from now we know Father time will come calling... If it was 5 years what do you imagine the cap hit to be? 7.25 maybe? If so the difference is 3.75 for that extra year where even if he's a 2nd pairing is pretty cheap especially all those years down the road. Apply what you think a 4 year contract (the timeline after which you have us expressing buyer's regret) & you still end up with a total near the 40.5 it cost to keep him for 6 unless you really wanted Gio to test the market. Gio is in the habit of maintaining fitness as that is the way he went from unwanted to Norris mention. I'm not worried he'll suddenly drop career long habits & go "Donut Phil". Link to comment Share on other sites More sharing options...
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