Immediate reaction to this is two-fold. First, it's great that the Avalanche are actually committing to their players that they see value in. Cody McLeod just inked a three-year deal a couple of days ago, so it seems like the Avalanche are looking to lock up key players.
The second part of my reaction is that $16 million over four years seems like an awful lot of money and that the Avalanche may have overpaid a bit for Jones.
Jones is coming off back-to-back 20-goal campaigns, including one where he was tied for the team lead in goals (27 in the 2010-2011 season). However, these past two years are the first time that he's done that.
Jones does have a lot of potential, though. He is entering the prime of his career, so if he is able to play up to that potential, then he will be well worth the $4 million a year cap hit. In fact, if Jones had performed even remotely similar to his second half of the season during the early part of the year, he would have tallied 30 goals easily.
So, where will Jones be? He'll be where he has always found most of his success: on Paul Stastny's wing. The difference is that, this year, he'll have Jamie McGinn on the other side, who seemed to be the missing link to their line. Once McGinn joined the Avalanche, this line just took off.
If nothing else, at least some Avalanche fans will have a player other than Paul Stastny to complain about regarding the size of their contract.
I have high hopes for Jones, and I truly believe that he'll be a 30-goal guy next season.