After signing Kris Letang to an 8 year, $58M deal, then-GM Ray Shero received a barrage of criticism for paying such a high price for an offensive defenseman. Although his job can no longer be salvaged, a couple of recent events are now making the deal look much better than it initially had.
Rogers Completes Historic TV Deal (12 years, $5.232B):
Even prior to this deal, the constant growth of the NHL had become impossible not to notice. With revenues going up every year, player salaries have been increasing at a rapid pace. With the completion of the $5 billion+ TV deal, this process has accelerated even more.
Orpik and Niskanen test the market:
Along with Kane and Toews setting the new bar for forward contracts, recent FA blueliners are beginning to set the new bar for what a good defenseman is worth. Though both Orpik and Niskanen were below Letang on the depth chart and yearly Norris rankings, both received deals with a AAV within $1.75M of Letang's current contract. Not only was Niskanen's deal within $1.5M of Letang's, but he recently mentioned that he had a better offer on the table when he decided to sign on with the Capitals to continue playing under Todd Rierden.
PK Subban signs for 8 years, $72M:
Although Orpik and Niskanen helped set the bar for a solid top 4 defenseman post TV deal, the league has been waiting on the PK Subban deal to set the bar for Norris contenders. With a $9M AAV that eclipses even Sidney Crosby's, Subban's deal officially shows that a new age of player salaries is upon us. As Penguin fans, we should be glad that our core skaters had all been locked up before the season started.
No. 1 D-men r hard to find/near impossible 2 replace. MTL could've done a long-term deal w/Subban in '12. As usual, waiting proved expensive
— EJ Hradek (@EJHradek_NHL) August 2, 2014