San Jose Sharks re-sign Patrick Marleau and Joe Pavelski

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You can take one talented center off the potential free agent list,
as the San Jose Sharks announced this morning that the team has
re-signed Patrick Marleau and Joe Pavelski. The Sharks, announcing that
the team was moving on with goaltender Evgeni Nabokov, made plenty of
room for themselves to sign the two talented forwards and they needed
every single bit of cap space they could get.

The team hasn’t released the exact financial terms, but it’s being
reported from several sources that Marleau’s contract is worth $6.9
million per season for four years, while Pavelski’s is worth $4 million
per season.

That’s a heft price to pay to keep your top two forwards, yet
obviously this is what the Sharks felt they needed to do to stay
competitive. We’ll have a full breakdown of what these contracts mean
for the Sharks both short and long-term, but right now things aren’t
looking very good: the Sharks now have 14 players under contract and
just $11 million or so left in cap space. That’s nine spots left to
fill, and not a lot of salary space to fill it with.

Between Dany Heatley, Joe Thornton, Dan Boyle and now Patrick Marleau
the Sharks have over $28 million in salary locked up in salary between
four players for next season.

Wow.

Here’s some of the press release.

SAN JOSE – San
Jose Sharks Executive Vice President and General Manager Doug Wilson
announced today that the club has re-signed Group III un-restricted free
agent forward Patrick Marleau and Group II restricted free agent
forward Joe Pavelski to four-year contracts. In keeping with club
policy, financial terms of the deals was not disclosed.

“We are
very pleased that Patty and Joe have committed to this organization now
and in the future,” said Wilson. “They expressed a strong belief in the
direction this franchise is heading but also understand the challenges
to keeping a talented group like ours together.

“Both players had a
tremendous regular season, excelled on the ice for their respective
countries at the Winter Olympics and elevated their game in the Stanley
Cup Playoffs. They have solidified their place in the game among the
League’s top forwards and we are excited as an organization to have Joe
and Patty back in San Jose to build on what we accomplished last
season.”