Spezza ices huge contract with Senators!

Breaking news in the nation's capital, as the Ottawa Senators finally got a deal done with their superstar-in-the-making Jason Spezza yesterday night, agreeing to a new 7-year/$49 million contract extension according to Bob McKenzie over at TSN.

Spezza and Murray have yet to announce anything to the media, but McKenzie did a good job and got the details as to how Spezza would be paid over the course of the next 7 years:

08-09: 4 M signing bonus, 4 M base salary = $8 million
09-10: 4 M signing bonus, 4 M base salary = $8 million
10-11: 4 M signing bonus, 4 M base salary = $8 million
11-12: 2 M signing bonus, 6 M base salary = $8 million
12-13: 2 M signing bonus, 6 M base salary = $8 million
13-14: no signing bonus, 5 M base salary = $5 million
14-15: no signing bonus, 5 M base salary = $5 million

For a total of a whopping $49 million.

Spezza's deal is similar to his linemate's Dany Heatley, who also signed a massive extension early in the new campaign.

The 24-year old has 1 goal and 12 assists in 10 games with the Senators so far, and he likely sat out last night's game vs the Thrashers to finalize this deal with his agent.

This signing may mean the end of the Wade Redden era in Ottawa, as the veteran blueliner is eligible to hit the unrestricted free-agent market and it's unlikly Sens GM Bryan Murray will be able to live up to yet more pressure from the fans and keep the pricey Redden in the fold.

The Missisauga native was due to become a restricted free-agent this summer, and given the recent situations that have unfolded during that period with offer sheets being thrown around (see Dustin Penner, Tomas Vanek, Ryan Kesler), Spezza would've been an attractive option to teams salivating for that God-like player.

-BBeR

-BBeR