The NHL free agency period is underway with a flurry of deals. A ton of moves have been made so far, and more will come quickly.
Here are a few of the deals that have been announced.
— Detroit Red Wings (@DetroitRedWings) July 13, 2022
Breaking: Evgeni Malkin has agreed to a four-year contract extension with the Pittsburgh Penguins on the eve of NHL free agency.
Malkin, 35, will earn $24.4 million over four years for an average annual value of $6.1 million. pic.twitter.com/BIPuudj7Aw
— ESPN (@espn) July 13, 2022
— Sportsnet (@Sportsnet) July 13, 2022
The NHL’s financial situation isn’t like the other major sports. In fact, one nugget is too hard to ignore. During the NBA offseason, Denver Nuggets star and MVP Nikola Jokic signed a massive $264 million extension.
When we compare that to the NHL free agency signings, it takes 35 deals to add up to the amount of Jokic’s extension, courtesy of Spotrac.
35 NHL Free Agent signings have been announced, combining for $265M in total value.
Or, 1 Nikola Jokic extension.
— Spotrac (@spotrac) July 13, 2022
To go even further, the NBA spent over a billion dollars on the first day of free agency, which completely shatters the amount spent by the NHL.
Of course, Jokic is the NBA MVP, so there’s that. Nonetheless, this shows how far behind the NHL is.
Nothing sums up the economic difference between the NHL and NBA more than this right here: https://t.co/irafEdGoMP
— 303.Hockey (@303Hockey) July 13, 2022
According to Sporting News, the highest paid NHL player in 2022-2023 is Connor McDavid, earning a salary of $12.5 million.
Recently, Pat Connaughton signed a three-year extension with the Milwaukee Bucks for a total of $30 million.
Milwaukee Bucks swingman Pat Connaughton is finalizing a three-year, $30 million contract extension with the franchise, sources tell @TheAthletic @Stadium. The deal takes the Bucks' key shooter and well-regarded leader through the 2025-26 season.
— Shams Charania (@ShamsCharania) July 13, 2022
Connaughton isn’t even an All-Star and makes nearly as much as McDavid. That’s just the NBA, and we haven’t even begun to discuss the absurd deals in the NFL and MLB.
The big deals in the NBA crush the NHL out of the water.
There have been some WILD extensions this NBA offseason 😳
Nikola Jokić: 5 yrs, $270M
Bradley Beal: 5 yrs, $251M
Ja Morant: 5 yrs, $231M
Darius Garland: 5 yrs, $231M
Zion Williamson: 5 yrs, $231M
Zach LaVine: 5 yrs, $215M
Devin Booker: 4 yrs, $224M
Damian Lillard: 2 yrs, $120M pic.twitter.com/fDP8jGp6n8
— Action Network (@ActionNetworkHQ) July 8, 2022
So, to sum everything up: It took 35 NHL signings to amount to one NBA extension.