Are ultra long-term contracts a blessing or curse for the teams that issue them?

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Since the salary cap era started, teams have been becoming more and more open to signing players to extremely long-term (basically lifetime) contracts in an effort to provide themselves with cost certainty. It also allows them to give players the type of money they want now, while keeping the overall cap hit low by frontloading the deal. In turn, players get the security that a long-term deal provides.

It seems like a win-win scenario, but of course it’s not that simple.

The NHL owner’s initial CBA proposal sought to limit contracts to five-years in length, but even if these types of ultra long-term deals are still an option next season, should GMs be interested in signing players to them?

To get a better idea of the potential pros and cons, let’s take a look at the five longest active deals that have been in effect for at least three full seasons.

Rick DiPietro (New York Islanders – 15 years, $67,500,000) — Obviously, this deal perfectly sums up the risks involved. The deal began in the 2006-07 campaign and at this point a $4.5 million cap hit is pretty low for an all-star caliber goaltender.

The problem, of course, is that DiPietro is not an all-star caliber goaltender. He’s been plagued by injuries over the last four seasons and hasn’t even been that good during the brief periods where he’s been healthy.

At this point, he’s the Islanders backup goaltender and someone who probably wouldn’t be able to find a one-way contract as an unrestricted free agent. All the same, the Islanders have made a commitment to him that lasts through the 2020-21 campaign.

Alex Ovechkin (Washington Capitals – 13 years, $124,000,000) — Going into this deal, Ovechkin looked like about as safe a bet as you could get. Sure, his $9,538,462 cap hit was excessive for the time and is still the biggest in the NHL, but could you blame Washington for locking up a man that promised to be one of the greatest goal scorers of his generation?

To an extent, yes. It doesn’t matter who the player is, assuming that he’ll be among the league’s elite for the next 13 years is a big gamble. It hasn’t exactly blown up in Washington’s face, but Ovechkin’s 38-goal, 65-point 2011-12 campaign certainly leaves something to be desired given his contract. Still, Ovechkin is young and over the span of his career, last season might prove to be the low point.

Henrik Zetterberg (Detroit Red Wings – 12 years, $73,000,000) — Zetterberg’s deal has fared better than most. His $6,083,333 cap hit is looking increasingly favorable given how much the market have risen in recent years. His offensive output did decline a bit in 2011-12, but he remained the team’s point scoring leader.

Mike Richards (Philadelphia Flyers/Los Angeles Kings – 12 years, $69,000,000) — This one is a bit harder to judge. The Philadelphia Flyers eventually decided to go in a different direction, but, in part due to his reasonable $5,750,000 annual cap hit, they were able to trade away his contract for a pretty nice haul.

He then went on to record just 44 points in 74 games in his first season with the Los Angeles Kings, but he stepped up in the playoffs and helped them win the Stanley Cup. His deal certainly can’t be called a failure, but it remains to be seen if he’ll be able to build off of his strong playoff run and have a more productive all-around season in 2012-13.

Marian Hossa (Chicago Blackhawks – 12 years, $63,300,000) — For the most part, this contract has worked out fine so far. Hossa helped the Blackhawks win the Stanley Cup and it’s hard to argue with that. His $5,275,000 cap hit is also pretty friendly and has made the deal justifiable even though he’s missed a decent amount of playing time due to injuries.

With Hossa, even after three seasons under the deal, the jury is still out. He’s already 33 and he’s signed through 2020-21. It might not be too long before his contract starts to look like a drag on the team.

In a way, Hossa’s deal encompasses the risks that we still can’t fully explore. Seeing as these types of deals gained popularity with the new (soon to be old) CBA, we haven’t gotten to see these deals play out through to their conclusion. However, we can already clearly see examples of the big risks these contracts come with.

Mitchell signed PTO with Blue Jackets — shortly after getting cut by Blackhawks

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When the Chicago Blackhawks announced their roster moves yesterday, John Mitchell was among the cuts.

His professional tryout with the Blackhawks had come to an end, as it did for veterans Mark Stuart and Drew Miller.

It can be an uphill battle to make an NHL roster for veterans on professional tryouts. But for Mitchell, he quickly received another opportunity to attend a camp and try to land a spot, signing a PTO with the Columbus Blue Jackets.

Mitchell, 32, has appeared in 548 NHL regular season games with 70 goals and 177 points.

Meanwhile, the Blue Jackets are still without forward and restricted free agent Josh Anderson, as the two sides are stuck in a contract impasse right now. It was reported on Thursday that his representatives have been in contact with Hockey Canada about the 2018 Olympics.

Calgary mayor: ‘Errors of omission’ in Flames arena proposal

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On Thursday, the Calgary Flames released a report claiming they were prepared to contribute $275 million for a new arena, with additional funding — in the ball park of $225 million — from a Community Revitalization Levy.

On Friday, Calgary Mayor Naheed Nenshi responded to the proposal and the events of yesterday.

“I wouldn’t say dishonesty. I would, however, say that there are perhaps some errors of omission,” Nenshi told reporters, according to Global Calgary, when asked if there had been a level of dishonesty from the Flames with their proposal.

The Flames not only released a report with financial details to their website, but they also took out ads in local newspapers. Nenshi took issue with the details the Flames released yesterday.

“What was in that ad was not actually what the last deal on the table with the city was,” he said.

“For example, yesterday you saw that the Flames’ owners are claiming that they’re putting $275 million up front. Makes it sound like a (check) is being put on the table. Certainly that has not been discussed. That would’ve really changed things had that been the discussion.

“The discussion, the last I saw, was the Flames were putting $100 million in and the rest would be a ticket tax, which they wanted the city to take out, to get for and to front. I’m not quite sure how that equals the Flames putting in money up front.”

Yesterday, the Flames added in their report that, after two years of discussions with the city about a new arena, they will no longer pursue a new arena in Calgary.

The Flames currently play at the Saddledome, which is now 34 years old.

Report: Skinner among leading candidates for Hurricanes captaincy

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The Carolina Hurricanes went last season without a captain. That will change once training camp is over, and, according to a recent report, Jeff Skinner is one of the prime candidates to possibly wear the ‘C’ for this season.

The Hurricanes selected Skinner seventh overall in 2010. He made an instant impact on the NHL club, scoring 31 goals and 63 points in his rookie season as a teenager. He’s been a valuable offensive weapon for Carolina ever since.

This past season, he scored 37 goals — a career best. Although the consideration to potentially make him the next captain goes beyond his skills around the opposing net.

From NHL.com:

“He’s a passionate guy and he’s a passionate player,” Peters said. “He’s a real good pro in the fact that he looks after himself, he trains properly and the guys have unreal respect for the way he looks after his body. The maturity shows. I know guys bring it up quite a bit.”

To that end, Peters said he was at a staff golf outing prior to the start of training camp with about 16 people, including members of the Hurricanes’ medical and strength training staffs, and he polled as many people about the captaincy candidates as he could.

“[Skinner’s] name came up in the conversation quite a bit, and they bring up that type of stuff, the way he looks after himself and the way he prepares,” Peters said. “He’s passionate about it and he’s hungry to win.”

The Hurricanes have, over the past few years, done a nice job of building a talented young roster that has shown signs of being able to compete in the Eastern Conference. They do, however, play in a difficult Metropolitan Division, which features the Blue Jackets, Penguins, Capitals and Rangers.

The biggest change in Carolina this offseason was in net, with the addition of Scott Darling, who was the capable back-up in Chicago but is now taking over the No. 1 role with the Hurricanes.

Another change is still upcoming. Eric Staal was the captain in Carolina for six years, but the team is expected to soon name a replacement. There are other candidates for the Hurricanes captaincy, as well, like Justin Faulk and Jordan Staal.

“Someone is going to wear one, for sure,” said Peters earlier this month, per TSN. “Our leadership group is fine and we’ve got real good candidates. They’ll all provide leadership whether they wear a letter or not.”

Islanders sign 2016 first-round pick Bellows to entry-level deal

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The New York Islanders made a few roster moves Friday. That included sending 2016 first-round pick Kieffer Bellows back to the Portland Winterhawks in the Western Hockey League.

Shortly after that, it was announced that Bellows and the Islanders agreed to terms on a three-year entry-level contract.

The Islanders originally selected Bellows with the 19th overall pick in the 2016 NHL Draft.

The 19-year-old left winger played one year at Boston University, tallying seven goals and 14 points before deciding to leave school to play this season in the WHL, which has a completely different schedule from college.

“Play more games,” Bellows told NHL.com in July. “I think just the 72 games in the [WHL] regular season is the biggest thing. I can’t thank [Boston University coach David] Quinn enough and all the guys on the team. I had an unbelievable first year at Boston University, but I just felt it was best for me to go and play more games.”