Latest Penguins Buzz

Insider Only Pens, Matt Cooke agree to three year deal worth $5.4 million

The Pittsburgh Penguins and winger Matt Cooke are on the verge of finalizing a new three year deal today worth $5.4 million.
“Getting very close, ” Pat Morris the agent for Matt Cooke told Inside Pittsburgh Sports this morning when asked if the deal was officially finalized.
Morris indicated on Monday that the two sides were “working away” in negotiations to finalize a new deal.
Morris said that an official announcement will be made today. A few minor details (paper work) still need to be finalized for the deal to be official.
Updated: 1:30 p.m. While the deal is still being finalized with the NHL through the appropriate paper work, Morris confirms to me that Cooke has received a “limited no trade clause”
Breakdown of Matt Cooke’s new three year deal & Pens Cap Situation

*Cooke and the Penguins agreed to a three year contract worth $5.4 million.
*Cap Hit: $1.8 million
*Limited No trade clause: player cannot be traded without his consent; consent not required for waivers for assignment to minors. The no trade clause goes into effect from the 2010-2011 season through the 2012-2013 season.
*Salary Breakdown: 2010-2011 – $1.8 million; 2011-2012 – $1.8 million; 2012-2013 – $1.8 million.
*The Penguins have $32.25 million committed to 11 forwards on one-way contracts.
*Overall, the team has $46.93 million committed to 16 players.

About The Author

William DePaoli

TIOPS Insider

William DePaoli is the President/Founder of Inside Pittsburgh Sports LLC and can be reached at wdepaoli@insidepittsburghsports.com

Comments Disabled

Comments have been disabled for this post.