Crosby extension talk: Sid's Agent says Crosby to sign $104.4 million for 12 years ($8.7 million cap hit)

$100 million smile? (Photo by Justin K. Aller/Getty Images)

From Darren Dreger of TSN:

Expect the Penguins to announce Sidney Crosby's contract extension on Sunday. Over $100 million dollars with an AAV of close to $9 mil per.

Dregs is about as reliable as any reporter in the game, and the fact he was willing to report specific figures of the deal probably means things are all but done. (The Penguins and Sidney Crosby can't officially sign or announce the deal until Sunday, you'll remember).

If true, it's great news for Penguin fans. There was little doubt Crosby was going anywhere anyways, but an $100 million total value contract at $9 million would be an 11 year deal, keeping Crosby on the team through the majority of his career. And, of course, the actual specifics of the year for term and money could slightly vary from the report, so we'll have to wait and see.

But the framework is about what's expected and been reported for the past couple of months now, so it makes good sense. The only question was when would the extension be announced, and it looks like they are going to waste no time, by signing it on the first day they're allowed to. Big commitment from the team and player.

It's a risk to take for the team, who will have a whale of a time insuring the biggest contract in franchise history, but then again, financially as we've said here time and time again, it's not a risk at all. Sidney Crosby is a cash cow and a cottage industry for the Pittsburgh Penguins and the NHL at large. Even if he can't play 82 games a season, he can and will be a focal point of the team's marketing and merchandising campaigns and the club will easily recoup his salary, many times over.

But that's stuffy business numbers and who needs that. The important thing, is no matter what happens in the uncertainty of a crazy free agent market, the Pens are probably going to make it official in the coming days that Sidney Crosby will be in Pittsburgh for a long, long time. And that's a great thing.

UPDATE:

@Real_ESPNLeBrun
Crosby’s agent Pat Brisson of CAA Sports just told me the deal will be $104.4 million over 12 years
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