Carolina Hurricanes sign Seth Jarvis to first contract of its kind
The Carolina Hurricanes and 22-year-old Seth Jarvis agreed on an 8-year extension Saturday.
The Carolina Hurricanes have locked up twenty-two-year-old Seth Jarvis for the next eight seasons with an 8-year extension worth $63.2 million.
As Chris Johnston reported Saturday the deal includes $30 million in signing bonuses, one of which is deferred to a ninth year, which ultimately affects the AAV. Jarvis was a first-round pick, 13th overall during the 2020 NHL Entry draft.
Having Jarvis put pen to paper was objective number one for Hurricanes GM Eric Tulsky but the deal itself is a bit of an anomaly as it's one of the first of its kind to have a salary cap lower than the typical AAV because the player was willing to defer salary.
While typically each NHL contract since 2005 has been a simple cap hit, one where you take the total dollars and divide by the length of the deal, in this case, the Canes are slated to save approximately $400,000 each season.
The Daily Faceoff's Frank Seravalli shared that deferred payments have been allowable under the CBA, however, the Hurricanes are the first team to use this in a meaningful way.
Since entering the league Jarvis has skated in 231 regular season games amassing 64 goals along with 82 assists for 146 points and 44 penalty minutes. During the postseason the 22-year-old has scored 13 times while collecting 13 assists in 40 games.
Update: According to Puck Pedia, this is the second contract the Hurricanes have used this mechanism on.
| POLL | ||
31 AOUT | 129 ANSWERS Carolina Hurricanes sign Seth Jarvis to first contract of its kind Who does this deal benefit most? | ||
| Carolina Hurricanes | 26 | 20.2 % |
| Seth Jarvis | 38 | 29.5 % |
| Both | 65 | 50.4 % |
| List of polls | ||
