Nikita Kucherov’s $76 million extension with Lightning is a bargain

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While we wait to see how the Erik Karlsson situation is figured out, Steve Yzerman and the Tampa Bay Lightning are going about their business. On Tuesday, it was announced that they’ve re-signed forward Nikita Kucherov to an eight-year, $76 million extension.

“I’m truly grateful to sign this contract extension to keep me in Tampa for the next eight seasons today,” Kucherov said in a statement. “I’d like to thank the Lightning organization and all of the fans for the support since making the Bay Area my home.”

Kucherov has one year left on his current deal, which will pay him $5.55 million this coming season. According to Joe Smith of The Athletic, the extension has a full no-trade claude in the first four years.

The max deal for Kucherov means he’s one of five Lightning players — with Steven Stamkos, Tyler Johnson, Victor Hedman, Ryan McDonagh — signed through the 2023-24 NHL season. The contract, which kicks in at the start of the 2019-20 season, will put him tied — for the moment — for the sixth-highest cap hit ($9.5 million average annual value) in the league, and yet it still seems like a bargain (not to mention Florida’s state tax situation).

Via the AP’s Stephen Whyno, here’s how the contract breaks down:

19-20: $1M salary/$11M bonus: $12M
20-21: $4M salary/$5M bonus: $9M
21-22: $3.5M salary/$8.5M bonus: $12M
22-23: $4M salary/$5M bonus: $9M
23-24: $5M salary/$5M bonus: $10M
24-25: $5M salary/$4M bonus: $9M
25-26: $5M salary/$3M bonus: $8M
26-27: $4M salary/$3M bonus: $7M

Over the last two seasons only Connor McDavid has more points (208) than Kucherov (185), and only Alex Ovechkin (82) and Patrik Laine (80) have more goals than the 25-year-old Russian (79) since the 2016-17 season.

With the ceiling continuing to rise, it wouldn’t have been surprising to see Kucherov land an extension carrying a double-digit AAV. Yzerman has done a masterful job in Tampa navigating the tricky cap waters tying up his core pieces, while making some additions and still keeping the Lightning not only a playoff team but a Stanley Cup contender.

Here’s where the fun starts: Currently, the Lightning have a little over $65 million tied up in 12 players for the ’19-20 season, per Cap Friendly. Some major salary will have to go out if they’re to land Karlsson and sign him to a max extension. But given his history, it’d be hard to doubt Yzerman’s ability to make it work. The championship window remains open for the Lightning and won’t be closing any time soon.

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Sean Leahy is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @Sean_Leahy.