Mikko Koivu is one of the NHL’s most underrated players, but you won’t be able to call him one of the league’s most underpaid scorers much longer. Michael Russo reports that the Finnish center signed a seven-year, $47.25 million contract extension with Minnesota, the richest deal in Wild history.
Sources: Koivu’s deal is 7 years, $47.25 million. $6.75 AAV, no-trade, 5 signing bonuses throughout. Richest deal in #mnwild history
The extension won’t kick in until the 2011-12 season and expires after the 2017-18 campaign. Starting in 11-12, Koivu’s cap hit will be the team’s largest by $750K (goalie Niklas Backstrom’s cap hit is the second largest at $6 million).
Minnesota’s roster seems almost devoid of “bargain” contracts, with wasted space in the form of Mark Parrish’s buyout (a 920K-plus bruise that runs through the next four seasons) and over-priced gambles like Martin Havlat, Marek Zidlicky, Matt Cullen, and Cam Barker.
Koivu – younger brother of Anaheim Ducks center Saku – has been steadily improving each season, peaking with 71 points (22 goals, 49 assists) during the 2009-10 season. Despite attempting to switch gears toward are more offensive-minded format, the Wild still lack much high-end firepower, so perhaps it makes sense that they had to pay such a ransom for their most reliable point producer.
He’s 27 years old now, so the contract will cover the remaining prime years of his career. While seven years is less risky than the kind of “lifetime” deals being handed to players such as Nicklas Backstrom (the Swedish playmaker from Washington, not the c-lacking goalie in Minnesota), you’d think the Wild could have at least gotten a little more cap relief in exchange for the extra years of security the deal provides.
Still, it might be a small price to pay for a player who inspires hip hop-heavy highlight reels.