Lightning hand Ryan McDonagh giant extension

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The Tampa Bay Lightning announced a huge signing on free agent day, but it didn’t involve John Tavares.

Instead, to some surprise, the Lightning signed defenseman Ryan McDonagh to a seven-year, $47.25 million extension (which means it will be a $6.75M cap hit). The extension will kick in starting in 2019-20, as McDonagh still has a season remaining on his current deal, which only registers a $4.7M cap hit.

Here are a few additional reported details:

McDonagh turned 29 on June 13, so he’ll be 30 by the time his new contract kicks in. From that standpoint, the Lightning are taking an interesting risk. It also sheds some light on some moves that they might not make.

In the long run, GM Steve Yzerman is committing to a future that involves Victor Hedman (27, signed through 2024-25 at a $7.875M cap hit) and McDonagh on defense, with Mikhail Sergachev carrying two more years on his entry-level contract. Anton Stralman, Braydon Coburn, and Dan Girardi all enter contract years in 2018-19, and it wouldn’t be surprising if the Lightning move on from all three (or only keep one) of those veteran blueliners.

It’s also worth noting that Yzerman has wasted little time in locking down the big pieces of the McDonagh trade from the New York Rangers. Mere days ago, the Lightning handed J.T. Miller a five-year, $26.25M contract that was also more than a bit surprising.

Time will tell if the Lightning made the right calls in locking up those former Rangers for such term, as Stevie Y & Co. still have some questions to answer. Nikita Kucherov is set for a massive raise after this season, while Brayden Point and Yanni Gourde could also become RFAs next summer. A bigger payday isn’t far away for Vezina finalist Andrei Vasilevskiy, either, as his $3.5M cap hit only runs through 2019-20.

While it sure seems like a cap crunch is coming, there’s no denying that the Lightning look like a juggernaut heading into 2018-19, even if the remainder of their moves end up being marginal. Keeping a high-end defenseman such as McDonagh in the fold highlights that point.

Do the Lightning have even more surprises waiting for the hockey world? We’ll find out soon enough.

James O’Brien is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @cyclelikesedins.