It turns out that Jeff Petry wasn’t just a rental acquisition after all as on Tuesday, the Habs announced that they have signed the 27 year old blueliner to a six year deal. Financial terms were not disclosed but it is being reported that his cap hit will be $5.5 million on a front loaded contract.
Petry joined the Canadiens early on trade deadline day back in March from the Edmonton Oilers after being acquired for the 57th and 117th overall selection in this month’s NHL Entry Draft. He suited up in 78 games with Montreal and Edmonton during the regular season, scoring seven goals and adding fifteen assists with 42 PIMS and an ugly -28 rating (most of which can be attributed to his time with the Oilers).
It didn’t take long for Petry to settle in with his new team as he logged big minutes (over 22:00 per game) during the regular season. He also made a big mark in the postseason (his first ever time in the playoffs), providing some much needed stability to the second pairing while also pitching in on special teams. In twelve playoff games, he picked up three points (2-1-3) with four PIMS and a +2 rating.
The deal means that the Habs have a boatload of salary tied up in their blueline. They already have $27.15 million allocated to five players (Subban, Markov, Petry, Emelin, and Gilbert) with Nathan Beaulieu and Jarred Tinordi as pending restricted free agents. (Greg Pateryn is under contract with a cap hit slightly below the league minimum next year, $562,500.) Unless the Habs want to have almost as much money tied up in their back end as their forwards, it’s plausible to think that there may be a move or two coming via the trade route.
The deal contains a full no-move clause for the first three years. After that, Petry will have a partial no-trade clause; he’ll be able to block a trade to 15 teams.
Quite a few other blueliners around the league have cap hits of $5.5 million, including Matt Carle (TB), Dan Girardi (NYR), Tyler Myers (WPG), Nick Leddy (recently-signed extension with NYI), Brooks Orpik (WSH), and James Wisniewski (ANA).
The reported breakdown of the contract is as follows:
2015-16: $7 million (with a $3 million signing bonus)
2016-17: $7 million (with a $1 million signing bonus)
2017-18: $6 million (with a $1 million signing bonus)
2018-19: $5 million (with a $1 million signing bonus)
2019-20: $4 million (with a $1 million signing bonus)
2020-21: $4 million (with a $1 million signing bonus)