Red Wings Sign Zetterberg to 12-Year Extension

The Detroit Red Wings announced on Wednesday that they have re-signed left wing Henrik Zetterberg to a 12-year contract extension worth $72 million, making the longest contract in team history. The deal pays him between $7 and $8 million per season except in the final three years, he is scheduled to make $3 million, $1 million, and $1 million, respectively. So far this season, Zetterberg has scored 17 goals and 26 assists for 43 points in 45 games played. He has played in a total of 400 NHL games, all with Detroit, scoring 169 goals and 206 assists for 375 points. Zetterberg helped lead the Red Wings to a Stanley Cup victory last season while winning the Conn Smythe Trophy as playoff MVP. He was also the runner-up in 2003 to Barrett Jackman for the Calder Trophy as rookie-of-the-year. This is a tremendous signing for the Red Wings. Zetterberg has clearly demonstrated that he is their franchise player with his exceptional puck-handling and passing skills and goal-scoring ability. The crafty forward obviously wanted to stay in Detroit and took a bit of a discount to do so, as he could have easily received offers in excess of $8 million on the free agent market this summer. However, given the size of the contract, it is unlikely that the Red Wings will have enough salary cap space to retain right wing Marian Hossa. With forwards Johan Franzen and Jiri Hudler still to be resigned for next season, the Red Wings will likely have to let Hossa walk via free agency, and could even lose Mikael Samuelsson to free agency as well. The only way they will be able to retain Hossa, Franzen, Hudler, and Samuelsson is if all four take major discounts to keep the team intact.