Senators ink Chabot to massive eight-year, $64 million deal
Ottawa Senators owner Eugene Melnyk has a reputation of being a little tight with his wallet, but on Thursday morning he handed out a massive extension to one of his better young players.
The Senators announced that they’ve signed Thomas Chabot to an eight-year, $64 million contract extension. The 22-year-old put up 14 goals and 55 points in 70 contests last season. He also averaged over 24 minutes of ice time per game in his second NHL season.
“Thomas is an exceptional talent and an outstanding teammate, who is impactful both on and off the ice. He is the type of player that can develop into a core member of a championship-level team in the National Hockey League,” said Senators general manager Pierre Dorion. “He is an NHL all-star; an elite skater and puck-mover who plays with pace and determination. We are convinced Thomas will have a significant impact on the Ottawa Senators as we develop and grow into a highly competitive team over the coming seasons and we are extremely proud that Thomas will continue to be a key part of our team’s future success moving forward. Today is a great day for the Ottawa Senators franchise.”
Chabot still has one year remaining on his entry-level contract, so this extension will only kick in at the start of the 2020-21 season.
Thomas Chabot’s eight-year contract has an average annual value of $8 million, with the following breakdown: $7M in 2020-21, $7M in 2021-22, $4M in 2022-23, $8M in 2023-24, $10M in 2024-25, $10M in 2025-26, $10M in 2026-27 and $8M in 2027-28.— Sens Communications (@Media_Sens) September 19, 2019
Per Cap Friendly, Chabot has a modified no-trade (10-team no-trade) clause in the final four years of the extension.
This is a major signing for the Sens. Not only does it keep their best player under team control for the next nine years, it also shows a commitment to keeping and paying their high-end talent. Also, the fact that Chabot is willing to commit to Ottawa and the Senators franchise for a long time.
After the Erik Karlsson and Mark Stone fiascos, the Sens couldn’t afford more bad press with their star players. So the fact that Melnyk was willing to open the vault to lock up a young player is a good sign. They already locked up Colin White to a six-year extension this summer and they will have to do the same thing with Brady Tkachuk in the next two years.
Ottawa has some good pieces on their roster, but the young talent isn’t surrounded with enough quality. After Chabot, their blue line is made up of Nikita Zaitsev, Ron Hainsey, Mark Borowiecki, Dylan DeMelo, Christian Wolanin and Christian Jaros. None of those guys is worthy of being on a top pairing right now.
As good as the Chabot news is, it’s still going to be a while before the Sens become contenders again.