Grading the Long-Term Extensions Signed by 6 NHL Players During 2024 Offseason
So much of the NHL's offseason discourse is centered around the players who change teams, whether in free agency or by trades.
While those moves tend to get the biggest headlines, there are other big moves that are made when teams retain their own players on long-term contract extensions.
There have been a few big-money deals handed out this summer (with more potentially on the horizon), so let's examine six of the biggest so far and grade how they look.
Brock Faber, Minnesota Wild
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The most recent of the long-term contract extensions is Minnesota re-signing Brock Faber to an eight-year, $68 million contract extension on Monday. That comes out to a salary-cap hit of $8.5 million per season and kicks in at the start of the 2025-26 season.
In the short term, this is a major payday for a 21-year-old defenseman who has only played 84 games in the NHL.
But, those 84 games have been mostly outstanding.
Faber became an immediate star for the Wild this season and was one of the few bright spots on an otherwise disappointing team. He was not only one of the best rookie defensemen in the NHL, he was one of the best defensemen all-around, regardless of age or experience.
He played shutdown minutes, logged over 24 minutes per game, recorded 47 points and had outstanding defensive metrics.
When he was on the ice, the Wild allowed just 2.27 expected goals per 60 minutes, the 19th-lowest mark out of 138 defenders who logged at least 1,000 minutes of 5-on-5 ice-time. In other words, he was an absolute stud and already looks like a top-pairing player.
Assuming he continues on that same trajectory in the coming seasons, this contract will turn into a steal for the Wild.
It's also a big win for Faber because it gives him big-time money early in his career and will allow him to become a free agent before his 29th birthday, creating the opportunity for another big payday.
Grade: A
Juraj Slafkovský, Montreal Canadiens
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After an inconsistent, injury-plagued rookie season, Juraj Slafkovský really started to break through this past season, especially in the second half of the campaign when he started to figure out the NHL game.
The 2022 No. 1 pick might not be a superstar on the Connor McDavid, Sidney Crosby or Auston Matthews level, but he should still have a future as an outstanding player and core piece for the Montreal Canadiens.
They showed their faith in that by signing him to an eight-year, $60.8 million contract extension with a $7.6 million salary-cap hit.
Like the Faber deal, it is an especially bold move for the team, with a chance to become a steal throughout the 20-year-old's prime years.
Still, there is some element of risk at play to sign a player who has 24 goals in his career to that sort of contract. But given Slafkovský's draft status, shot and combination of size and skill, he has all of the tools to become a star. And there is a good chance he gets there.
In the salary-cap era (going back to 2005-06), there have only been 20 players to score at least 20 goals and record at least 50 total points in a season before their age-20 season: Sidney Crosby, Connor Bedard, Connor McDavid, Auston Matthews, Matt Duchene, Jack Eichel, Nico Hischier, Patrick Kane, Clayton Keller. Anze Kopitar, Patrik Laine, Gabriel Landeskog, Nathan MacKinnon, Peter Mueller, Lucas Raymond, Jeff Skinner, Steve Stamkos, John Tavares, Jonathan Toews and Slafkovský.
That's a pretty good list to be a part of as almost every single player there has gone on to be a first-line, big-money player (or will soon be in the case of Bedard and Raymond). The lone exception is Mueller whose career was ruined in part by injuries.
Maybe a slight overpay in the beginning, but a potential steal in the future.
Grade: B+
Quinton Byfield, Los Angeles Kings
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Perhaps one of the biggest win-win contract extensions of the offseason was the Los Angeles Kings' five-year, $31.25 million extension for Quinton Byfield.
It is a huge win for the Kings because they have their best young player signed to what should be a fair market value contract in the short term and a steal in the long term.
Byfield took a huge leap forward in 2023-24 and started to become the star the Kings hoped he would be when they picked him with the No. 2 overall pick in the 2020 NHL draft.
The 21-year-old not only scored 20 goals with 55 total points, but he also posted strong underlying numbers and showed incredible skill with some truly highlight-reel plays.
Even if he just keeps performing at that level, his $6.25 million salary-cap hit is probably what that sort of player is going to get in today's game.
If he keeps progressing—and he should—he becomes a bargain.
It is a win for Byfield because he not only gets a big raise right now, but he will also now be eligible for unrestricted free agency at age 26. That could put him in line for a huge payday in the future, whether it be in Los Angeles or elsewhere.
Grade: A
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Travis Konecny, Philadelphia Flyers
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For the better part of a year, Travis Konecny's name was a popular one in trade speculation as the Philadelphia Flyers' rebuild rolled on.
However, the club put an end to that speculation by signing him to an eight-year, $70 million contract extension over a week ago.
In a vacuum, it's a fine signing.
Konecny is an outstanding player. He is great during 5-on-5, he plays in every situation and is extremely productive. He also has the right personality and playing style for a Flyer. He is a great long-term fit.
So, what's the issue?
Well, it is not so much an issue with Konecny as much as it is an issue with what the Flyers are doing as a team.
Are they trying to contend right now, or do they still see themselves as being a few years away?
By signing Konecny it would seem to indicate they intend to compete sooner rather than later. But the rest of their offseason moves (largely inactive) do not really back up that mindset, and it almost seems as if they are resigned to taking a step backward.
If they still see themselves as being a few years away, it might have been a missed opportunity to maybe deal the 27-year-old for a big return to get more players who might align with their timeline.
If the Flyers are still a couple of years away from contending, Konecny might be out of his prime years but still making top dollar. It might not be the best value at that point.
Overall, it's a fair value for what he does. But it does lead to some confusion on where the Flyers are as a team.
Grade: C+
Juuse Saros, Nashville Predators
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Another player who was a constant presence in trade rumors over the past year but ended up staying put with his current team.
The Nashville Predators re-signed Juuse Saros to an eight-year, $61.92 million contract extension worth over $7.8 million per season to kick off their summer of spending.
After getting the netminder locked in, they dipped into the free-agency pool by signing forwards Steven Stamkos and Jonathan Marchessault, as well as defenseman Brady Skjei, to long-term contracts.
It's clear the Predators, who were a playoff team a year ago, see themselves as a bona fide Stanley Cup contender and they want—and need—Saros to be a part of that.
There is a lot of logic behind that.
When the 29-year-old is at his best, he can be one of the greatest goalies in the league and the type of player who can put a team on his back and carry it to levels it probably has no business reaching. He has done it before in Nashville. He is also still relatively young and should still have some big years ahead of him.
The concern is that goaltending can be a volatile position, especially when you start talking about players getting into their 30s. Just because a goalie is good now does not mean he will be in a year or two. Sometimes it can just be some unpredictable luck.
Will Saros continue on the way he has deep into his 30s? It is a risk, especially with him coming off the worst season of his career statistically with a .906 save percentage.
The Predators also have one of the league's best goaltending prospects in Yaroslav Askarov who seems ready for an NHL role. Do they keep him as a backup to Saros or eventually attempt to trade him?
Also, did the Predators miss an opportunity to potentially send Saros out for a decent return and roll with a cheaper but talented goalie?
Grade: C+
Ukko-Pekka Luukkonen, Buffalo Sabres
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The Buffalo Sabres were hoping that a young goalie would emerge during the 2023-24 season and take over the starting spot.
When the season began, the expectation was that goalie would be prized prospect Devon Levi.
It ended up being Ukko-Pekka Luukonen, who put together a breakout season that included a .910 save percentage in 51 starts. It was a surprisingly strong year with better than league average numbers, making him one of the few bright spots on an otherwise disappointing Buffalo team.
The Sabres liked his performance so much that they re-signed him this past week to a five-year, $23.75 million contract extension with a salary-cap number of $4.75 million per season.
If Luukonen duplicates that same level of play, he is a bargain.
It's far from a guarantee that he repeats that, though, especially when his first full season in the NHL produced an .891 save percentage during the 2022-23 season. Basically, it just seems like a premature long-term deal based off of a small sample size that may or may not be sustainable for him.
It is a risk, perhaps an unnecessary risk that does not work out well in the long term.
Grade: C
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