COCHRANE: Crosby is the $104.4-million man
WHEN I PONDER the amount of money the Pittsburgh Penguins are willing to pay Sidney Crosby in a contract extension — $104.4
million over 12 years — I find it simply beyond comprehension.
Can anyone, maybe aside from Curt Schilling, the pitcher turned financially inept investor, actually find a way to spend $104 million?
I’ve always spoken out against the excesses and entitlements that pro athletes and
celebrities enjoy in our North American society. Why, simply because someone has an athletic skill, should he or she be paid a salary that would belittle the take-home pay of a skilled surgeon who might someday save the life of someone in your family? But that’s an argument for another day.
The reality is that we’ve put that high value on the work of our entertainers. Clearly, society must agree or it wouldn’t continue to pay the inflated costs of keeping the giant pro sports machine afloat. And there’s really no going back at this point.
So, to judge this Crosby contract, it has to be put in context of what the best pro athletes are receiving today.
And in that context, the Penguins are getting one great deal.
There’s no question that the pride of Cole Harbour is the most valuable player in the NHL, not only for his on-ice skills but also for what he represents in selling the game to the public. He has the history of winning, the talent and the personality that demand attention from sponsors, the media and fans.
The one flaw in the Crosby package is his recent history of concussions, and how that issue was handled in this contract extension isn’t yet known. No doubt there is insurance coverage for at least the early part of the deal, and probably there are clauses that limit the buyout if Crosby is unable to play due to more concussions.
It’s obvious that among all NHL players, Crosby is the one who deserves to be making the highest salary. He’s the face of the league and will remain so until another young superstar with all the same qualities comes along.
But his negotiators clearly didn’t push for him to be the highest-paid player in the NHL.
Of course, determining where star hockey players stand on the salary ladder is difficult. Since so many long-term deals have convoluted clauses in this salary cap era, it’s difficult to know who is on the top rung. The Crosby deal may not be the most lucrative, but it’s near the top.
Had he really wanted to push for it, there’s no doubt Crosby could easily have been the highest-paid NHL player ever. Perhaps he could even have demanded something along the lines of what baseball, basketball and football superstars make these days, and it’s a reasonable assumption that the Penguins’ rich ownership would have been obliged to pay it.
You simply can’t allow the guy who saved your franchise and remains the hottest property in your sport to walk away, possibly even before he’s reached his prime.
But what are a few million dollars between a superstar player and his first, and probably last, professional hockey home?
The bottom line is that Crosby is getting a boatload of bucks to stay in Pittsburgh for the rest of his career, and the Penguins wrap up their star for good.
It sounds like that’s what both sides wanted all along, so it’s a good deal for everyone.
Chris Cochrane is a sports columnist with The Chronicle Herald and the author of Inside the Game.
"the talent and the personality"
Submitted by hav2b on June 29, 2012 - 6:34am.
Unquestionably the talent, but have you noticed his personality has changed over the last year or two? Where he was a somewhat shy, soft spoken young man, he now speaks with a more open, outspoken deportment and, dare I say, a touch of showmanship, that somehow detracts from his otherwise smalltown hero image. Well just wait until the reality of this extravagant contract has soaked in. The young fellows head is bound to swell.
The $104 million does seem pretty steep, especially for a man with a skull like an eggshell. Perhaps "the kid" should wear a bright yellow helmet, so all the other players will remember not to hit him too hard, or too often.
Well Done
Submitted by bobindartmouth on June 29, 2012 - 8:02am.
Great to see. Congrats Sid! Everybody else brace yourselves, here come the jealous hater comments.
Aww
Submitted by Dean on June 29, 2012 - 11:08am.
You mean if somebody disagrees with your opinion you call them names?? Gotta love your version of democracy ... it's only free speech so long as people agree with you.The rest you insult.Let me guess ... you're an occupier with too much time on your hands eh??
Holy reading comprehension.
Submitted by mapleleaf on June 29, 2012 - 12:06pm.
Holy reading comprehension. Nothing was said about free speech. And if he wants to insult others, that would be *gasp* his free speech. Herp derp.
Gross
Submitted by Tank on June 29, 2012 - 7:54am.
It is a sickening, gross, obscene amount of money to pay one person to play a game, but at least it is going to a Nova Scotia boy. So far Sidney Crosby has been a role model and a highly skilled player who many like to take pot shots at. But at the end of the day, the man is simply a gifted and talented player, no amount of jealousy in the world can top that. Congratulations Sid the Kid, in the world of high stakes professional sports, you earned every penny and Uncle Tanky is very proud of you.
Oh that's right.
Submitted by hav2b on June 29, 2012 - 12:32pm.
I think I may be related to him as well.
Well Sid?
Submitted by Ken Gillis on June 29, 2012 - 8:10am.
There are definitely going to be two sides to this fence. Hard to straddle it! Let's hear those comments.
Ok
Submitted by Dean on June 29, 2012 - 8:22am.
104.4 million $$$$ for damaged goods?? Amazing.Where's the outcry of player greed?? No athlete is worth that much $$$.He won't finish a quarter of this contract anyhow.Players know he's a softie so one more hit and his career is all but over.Maybe he can get his pal bettman to institute the crosby rule - anyone getting within 10 feet of puffball gets automatic 2 minutes.
and who is crying now ?
Submitted by beejay on June 29, 2012 - 1:00pm.
Perhaps you should read your own comments to see just who is the one crying.
Ice surface
Submitted by h8suvs on June 29, 2012 - 8:24am.
We could sure go for another ice surface in Cole Harbour. *hint, hint* *nudge, nudge*
extended family will now come
Submitted by tajabigdog on June 29, 2012 - 8:17am.
extended family will now come out of the woodwork.
I want 1/4-pound of what the Penguins are smoking.
Submitted by shawnino on June 29, 2012 - 8:33am.
This is a horrible deal for the Penguins, and I'll prove it.
Suppose we admit he's the greatest player in the game, and will be the greatest player, when healthy, over the next 12 years. Not Tavares, Stamkos, Hall, young McKinnon, or anybody else. Will that be the case? For the sake of proving a point, let's say "yes". Even if that's true over the next 12 years, consider:
--In the last five seasons, Crosby has only played the full year twice. In 82 game seasons, he has played 53, 77, 81, 41, and 22 games.
--He has a history of head injuries.
--He has publicly said he will not play when he's feeling 90% healthy. This deal will take him to age 36. Show me a pro-athlete who is over 30 and feeling 90% healthy. Such an animal does not exist.
--Further, on the business side, the league has no CBA. This deal could negatively affect the Pens over the next two CBAs, perhaps three. That's not certain, sure. But who makes a $104 million commitment in the face of such uncertainty? Why not do a six-year-deal for half the money?
Mr. Crosby got a great deal. He's a very good hockey player and an even better negotiator.
The Penguins are idiots.
This is a five year deal
Submitted by bobindartmouth on July 1, 2012 - 12:58am.
$20M for 5 years is basically what they are saying here. The rest is just insurance that he stays with Pittsburgh if he is still playing.
Not Worthy
Submitted by powerman on June 29, 2012 - 9:00am.
In my opinion he is not worth half the money. He is just a big cry baby and only once did he score an important goal. What happened to him in the playoffs? He was less than an average player.
All athletes should be paid on performance per game and none of these multi-year contracts.
Congrats !
Submitted by beejay on June 29, 2012 - 8:55am.
As another commenter already alluded too, I expect many will complain about the amount of money and how he is not worth it etc. Well, I have been following sports for a lomg time and have gotten use to the extreme salaries, and although I may not agree with the amount they make, such is life. At least in this case, he chose, for the good of his team, not to seek out the maximum amount. For those whom do not agree with this kind of money being made by star players, you can always turn off your tv.
Sid. Get us a ferry service
Submitted by Yarmouth Screwe... on June 29, 2012 - 9:33am.
Sid, how would you like to be KOSWN (King of South West Nova)?
Well, all you need to do is invest in your own international ferry service, have it based in Yarmouth and voila...KOSWN. Plus, you would be doing a major service to all on NS 9something the NDP fail miserably at) Give it some thought. :)
Ain't too proud to beg.
Submitted by mapleleaf on June 29, 2012 - 11:18am.
Ain't too proud to beg.
WOW
Submitted by law on June 29, 2012 - 9:56am.
There is not a person on earth worth this $$$. The Doctor that saves your life after an accident or heart attack does not get paid what these cry babies get to chase a hunk of rubber up and down the ice.
Add to this Crosby is a damaged goods, he is broken. It is sad that there are some that think that these clowns are worth this money.
Not true.
Submitted by shawnino on June 29, 2012 - 10:34am.
I wrote above that I think this is a horrible deal for the Pens. I do. But your idea that "there is not a person on earth" worth that can be very easily disproven economically.
If, over the next 12 years, the Pens sell and extra million tickets at $60 apiece because Crosby is playing, and sell an extra $100 million in merch (say, bottom line profit is $50 million), that's $110 million right there and the Pens turn a profit, making the invcestment very much worth it economically.
I'm with you specifically on Crosby, his injury history, and most of all on the length of the deal and the CBA implications. On the business side, it's a calculated risk.
I hate Lady Gaga's music. Would I pay her $1 million to do two shows at the Metro Centre if I could sell tickets? Yep, because I'd walk away with a million more than I started with.
Nope
Submitted by Dean on June 29, 2012 - 10:48am.
The investment return will never be that high.Soft sid will invariably be hit again and be out once more for goodness knows how long.It is certain that he will never see the end of his contract as an active player.Then what?? Huge drop in ticket sales and Mario gets stuck with a 100+ million$$ albatross around the Pens necks.Shades of eric lindross perhaps???
Shawnino
Submitted by smullan on June 29, 2012 - 10:16am.
You're slipping. Maybe the summer air has thrown you off.
You forgot to say that like teachers hockey players get the summers off, they only work five hours a day, they don't play hockey like they used to, they get an extra week off at the All Star break, they even get Chritsmas day off now and again and the poorer ones only work from October to the end of April and still get paid even if they don't perform once they have a contract just like teachers.
Well at least they have to work when it's snowing.
In terms of the owners being idiots it seems to me that they're making out OK for people supposedly not too bright.
Perhaps you could surprise us all some day and actually write something positive on any given subject. I'm giving you a new nickname - "Angry Pajamas."
Sid likely settled for much less than he would have received on the open market. He is a role model for young Nova Scotians and demonstrates that you can follow your dreams even if you're from little Nova Scotia.
@smullan
Submitted by shawnino on June 29, 2012 - 10:43am.
Yeah I'm back on my meds. Times are tough. Eventually the bottle will run out.
To your specific points: Sidney Crosby works in the private sector. If I think he's overpaid, I'm unaffected. My tax dollars aren't paying him. If he played here, and the provincial government owned the team and was paying him, yeah, I'd be going nuts. But if "ifs" and "buts" were candies and nuts, we'd all have a wonderful Christmas.
Many NHL markets (particularly in the American South) are in trouble. Many owners have gone bankrupt. At least one (Boots Del Baggio) went to prison. They're not doing that well. And I think the Pens have blown it here. There are indeed economic cases to pay athletes and other performers huge money. I don't happen to think this is one of them. I guess we'll see.
You can have your pablum about "following your dreams from little Nova Scotia". I'll stick to my prescription.
Your pal,
"Angry Pajamas"
ahhhh but
Submitted by henry gondorf on June 29, 2012 - 10:19am.
congrats to Sid, but I was a hoping that the little gymnast would be all over the front pages on the pre holiday Friday...I worked at a number of Canadian gymnastic championships a few years back.....absolutely the toughest individuals I ever treated...bar none...just look at this kid..a number of fractures..a dislocated elbow no less...strapped like a war wounded soldier coming from the front and she perseveres and makes the Olympic team...yeah..this is a team sport per se , but you are on your own baby on all the apparatus...if that little bug isn't female athlete of the year in this province then there is something wrong..I hope she lets it all out over there and has the time of her life.....
2025
Submitted by gopens on June 29, 2012 - 10:27am.
lets hope sidney gets to play a healthy 12 more years. if so that will take him to the 2025-26 season,At the least ,money wont be an issue with his career,however in todays fast paced game,staying healthy will be the challange..playing sports is comparable to winning the lottery,plus you get to do what you love.. way to go sid..
The Haters
Submitted by Annoyed1 on June 29, 2012 - 10:28am.
I would love to know the true faces of the haters for Sid the Kid .. some no doubt are the parents or relatives for someone who never made the cut to the NHL. How many haters on here would be saying the same thing if it was their kid or family member who just cut this deal?? I for one am a family member of someone who had the ability to make it, but for it was just the wrong time. I do not hate Sid for this deal. This deal is a steal for the Pens. Sid could of made a lot more it he had tested the market. But Sid wants to stay a Pen and want to play with the best players. Taking the contract he did was so the Pens could still get some and keep some of the best players to play with Sid, that is how Sid wants it. Who wants to be a pro athlete and be on a team that can't get the great players to play with you.
For those who have not checked, Ovechkin makes more that Sid even after this contract is signed. Go look at Ovechkin stats for the last two years, he has not been worth his pay. Has not brought a Cup to the Caps yet. A lot of player like Ovechkin are in it for the money first, once they receive that their play disappears. Sid loves the game, being at his best and is only in competition with himself. Sid will be back at his best this season and will win another Cup. So all the haters if you hate reading about Sid, pass by any article with his name at the top. And for the guy saying his personality has changed, that is great that it has, Sid needs to stick up for himself now. He is a mature young man. He will be on the management side of the Pens I bet when his 12 yrs are done. Pittsburgh is a great city and have the best fans, no wonder Sid wants to stay. Congrat to Sid and his Family .. Keep driving them crazy Sid you make this FAn happy when you do so. GO PENS !!
HMM
Submitted by law on June 29, 2012 - 12:01pm.
Funny that anyone who disagreees with the YA sayers have to somehow be degraded by folks as yourself. I am not hater, however I am not his fan either, there were many better then him in the game long before he came on the scene.
It is a game, nothing more nothing less. That kind of coin is beyond logic for smashing rubber with a wooden stick.
FYI I do not know anyone who did not made the NHL.
Suck it up Princess!
"The face of the league"?
Submitted by Alan on June 29, 2012 - 11:01am.
I thought that was Raffi Torres.
Great Column
Submitted by MyTooCentsWorth on June 29, 2012 - 11:43am.
Great Column Chris. As for those who say it is too much money...well, its a free-market system. You get what you can. You may think your house is worth 300K but if someone is willing to pay 320K you take it. keep up the good work, your columns are always worth reading, as is your book!
Typo?
Submitted by ItiswhatitisinD... on June 29, 2012 - 11:54am.
When I saw the headline "Cochrane:The 104.4 Million Dollar Man", I was stumped. Cochrane? You mean Crosby? As for the opinions here, I am flabbergasted by the so-called "haters", and those so passionately opposed to the salaries athletes receive. Why don't you consider channeling that anger into something positive like helping your neighbour or ensuring that all the children in your community have enough to eat every day. Seriously, get over yourselves.
EDITOR'S NOTE: Point taken regarding the headline. We've been using this style to try to highlight our columnists. In this case, it could be confusing, so we've taken your point and tried to make the headline clearer. Thanks.
Big money??
Submitted by pensive on June 29, 2012 - 12:29pm.
I would venture a bet that a lot of the haters of Sid Crosby, are big Tiger Woods fans. Woods is an arrogant, spoiled, disrespectful idiot. At least Sid has class, is a great role model to kids, and sells the sport. If he can positively influence the attitudes of millions of young people and instill ethics, a work ethic, and respect for others, then he's worth his weight in gold. All the while Tig Woods is out looking for the best hooker in town.
congrats Sid!
Submitted by CH proud on June 29, 2012 - 12:45pm.
Does anyone realize Sid had one concussion and a neck injury. those who say he has concussion history could not be more wrong!! Ask the rest of the Penguins what they think. he is more valuable too them then any other figure in sports. I've read that penguins play, think, eat, train, sleep etc. like Crosby. Name another athlete that has that effect on his teammates...Get ready because his friend is coming to play (Parise)
Shame Shame
Submitted by jojo on June 29, 2012 - 3:15pm.
Shame on all the negative comments I see here, whatever happened to "Local Boy does Good"?
I hail from Nova Scotia but live in the province of Ontario now and could not be more proud to say that # 87 is from my home province.
Not only is Sid one of the most talented players in the NHL today but his work ethic and the respect he shows for the game and others are epic bar none!
He makes the perfect sports ambassador for Nova Scotia and the sport of hockey and I think there are many many of you that are just jealous!
You should stand behind him and all be very very proud, I know I am!
Very well said !
Submitted by beejay on June 29, 2012 - 5:03pm.
I bet it is fun at parties ! I can just hear those from Ontario believing everthing Don Cherry has to say about Sid and all the while you sit back and gloat.