Drake Batherson's contract situation just took a major turn, and the number attached to it is franchise-changing.
Elliotte Friedman reported Monday night that the Ottawa Senators are closing in on an eight-year extension worth between $10,500,000 and $11,000,000 annually.
That would make it the richest contract in franchise history, and the timing wasn't a coincidence.
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Starting September 16, the maximum term a team can offer its own pending UFA drops from eight years to seven across the league.
Ottawa needed this deal done before Tuesday night's deadline if it wanted to lock up Batherson for the full eight years instead of settling for less term.
Batherson posted 71 points in 79 games last season, a career-best campaign heading into his ninth NHL season.
Across his career, the 6-foot-3, 209-pound winger has piled up 364 points in 470 games, all with Ottawa.
Why this price tag makes sense for a small market team
This is the cost of doing business as a smaller market franchise that just lost its captain. Retaining a proven scorer at this number is a fair trade given everything else in flux.
Batherson was set to become an unrestricted free agent after this season, and letting him walk for nothing wasn't a realistic option for a team trying to build around its remaining core.
Ottawa finished 44-27-11 last season, ninth overall, and Batherson's playoff production, 4 points in 4 games, showed he can produce when it matters most.
GM Steve Staios still has a captaincy decision looming this month, and locking down Batherson's future removes one major variable before that announcement even happens.
At $10.5 to $11 million annually across eight years, this deal ties up a huge chunk of Ottawa's long-term cap space on a single winger.
That's a real bet on Batherson staying this productive well into his 30s, but for a franchise trying to replace the identity Brady Tkachuk left behind, it's a bet worth making.
Is an 8-year, $10.5 to $11 million deal fair value for Drake Batherson?
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