Found June 30, 2012 on Steel City Sports Report:

When noon strikes tomorrow, Sidney Crosby will sign a 12 year, $104.4 million deal to remain a Pittsburgh Penguin for the rest of his career.  Staying true to his superstitious nature, Crosby's cap hit will remain $8.7 million despite the player cap increasing by $4 million since Crosby signed his first contract extension in 2007.
In a world shared by Latrell Sprewell and his ridiculous "I have to feed my family" statement in response to turning down a $20 million offer, Crosby's decision to stay with the Penguins for the same amount of money (theoretically a pay cut) is admirable.  Obviously, $104.4 million won't force Sid into collecting welfare, however, by leaving $60 million on the table, Crosby has given significant financial flexibility to the Penguins in hopes of acquiring players to win another Stanley Cup. Everything you've heard about Sidney Crosby making winning a top priority is now indisputably confirmed. 
For the Pittsburgh Penguins, the deal clearly shows commitment to the world's best hockey talent.  Despite Crosby's history of concussions, the Penguins are prepared to win and lose with 87 as their captain for the next dozen years.  Furthermore, with the contract not being insured, the Penguins have invested all hope on Sidney Crosby.  If the Penguins win the Stanley Cup, Sidney Crosby will be the first one to lift it.  If Crosby's career ends premature, the Penguins will lose $104.4 million.  Even for a franchise that is playing in a new arena, with an astronomical amount of revenue, that's a big hit to take.
Similar deals have failed to work out for other clubs.  Rick DiPietro is the biggest example of what can go wrong with heavily investing in one player.  DiPietro signed a 15 year contract in 2006 and, since then, has played in only 172 of 492 games due to numerous injuries.  
The Washington Capitals are facing a different problem with their captain.  In 2008, Ovechkin signed a 13 year, $124 million contract, the highest in NHL history.  After scoring 65 goals and tallying 112 points in 2007, Ovechkin's production has fallen off dramatically.  In 2011, he finished with a career low 65 points and saw limited ice time in the closing minutes of a close game.  I.E. the Capitals were trying to find ways to win without their captain and highest paid employee.
The Pittsburgh Penguins see a great deal with Sidney Crosby.  The dollar figure is a bargain compared to what a player of his talent typically commands.  In return, Crosby has to continue to produce as everyone hopes the concussion issues have subsided. 
The only person possibly hurt by this -other than the 29 other teams- is Evgeni Malkin; the current individual king of the hockey world.  Malkin signed the same contract as Sidney Crosby in 2009.  However, it would not be absurd for Malkin to command more money due to his brilliant play this past season.  It certainly helps that Pat Brisson (Crosby's agent) and J.P. Barry (Malkin's agent) are co-founders of the Creative Artists Agency.  
The Penguins will certainly look for a proper deal for Evgeni Malkin around this time next year.  Will Malkin make more than Crosby?  Will he ask for top dollar, forcing the Penguins to move him in a similar fashion to Jordan Staal?  For now, it is impossible to tell.  
One thing is certain: Sidney Crosby is not going anywhere.

Penguins, Crosby agree to 12 years, $104.4 million contract extension

The Penguins announced today that they have agreed to terms with Sidney Crosby on a contract extension.  The extension is for 12 years for $104.4 million.  This will take them to the 2024-2025 season (that even felt weird to type those years).  The annual cap hit is merely $8.7 million. “This is a great day for hockey and tremendous news for the Pittsburgh Penguins and our fans...

Penguins, Crosby agree to new deal

Sid the Kid is sticking around. The Pittsburgh Penguins and superstar center Sidney Crosby have agreed to a 12-year contract extension Thursday that leaves little doubt Crosby has overcome the concussion-like symptoms that sidelined him for most of the last two seasons. The deal keeps the 24-year-old Crosby in Pittsburgh through 2025 and gives the team some room to play in the...

Flyers worried about Parise to Pens?

The Flyers are worried about Parise going to the Pens, from Broad Street Bull: For the Flyers, the bad news coming out of Pittsburgh on Thursday was that superstar Sidney Crosby had signed a 12-year, $104.4 million extension, a cap hit of $8.7 million _ the same as this season. It’s bad news because Crosby, arguably the NHL’s best player when healthy, probably...

Sidney Crosby Inks Huge Deal with Penguins

<a href="" class="moshare-button-hor" data-channel="wordpress-1.2.8" data-message="Sidney Crosby and the Pittsburgh Penguins have agreed upon a mega-deal that will secure the all-star's future with the Penguins through the 2024-25 season. ESPN reports the deal is worth $104.4 million over the next 12 years...

HockeyBuzz Wire: Today's Signings: Sid, Rask, Gill, Quick Sidney Crosby will get closer to being a Penguin for life Sunday. The Penguins announced Thursday that they have agreed to terms with Crosby on a 12-year contract extension worth $104.4 million. According to the collective bargaining agreement, Crosby, 24, can't sign a new deal until the free agency period opens at noon ET on July 1 because he already is under contract...

Crosby, Pens agree to 12-year, $104.4 million deal

The Pittsburgh Penguins and Sidney Crosby are putting the finishing touches on a new contract that will pay Crosby $104.4 million over 12 years. The Penguins announced the deal Thursday on their website. The contract will pay an average of about $8.7 million a season, although Crosby will receive more money in the early years of the deal. The new contract would go into effect...

A Cautionary Tale To The Penguins

The Pittsburgh Penguins and their star captain Sidney Crosby have agreed to a new monster, 12 year $104 million contract. It keeps Crosby in a Penguins sweater for years to come, but is it worth it? The Penguins are investing a lot of money and time into a player that at any moment can suffer another blow to the head and end his career. Crosby is a great player when he is healthy...

Friday Musings: Wideman, Crosby, Schultz, and the cap

The musings are a day late today, but that’s only because all of the big news happened yesterday. Don’t blame us, blame everyone else for not making all this stuff happen before Thursday. I swear, everyone else is to blame, not us! So Sidney Crosby gets $104.4 million over 12 years. From a hockey standpoint, that is a very risky contract. Crosby has had significant concussion...

Crosby And Quick Agree To Long Term Deals With Their Respective Teams

The Los Angeles Kings and Pittsburgh Penguins just got a little better for the next ten plus years. It was announced today that, the Kings have agreed to terms that will keep Conn Smythe winner, Jonathan Quick, in Los Angeles through the 2022-2023 season, and the Penguins have locked up former Olympic gold medalist, Sidney Crosby, through the 2024-2025 season.It is rumored that the...

More Parise To Pittsburgh Talk

from Sam Carchidi of Broad Street Bull, For the Flyers, the bad news coming out of Pittsburgh on Thursday was that superstar Sidney Crosby had signed a 12-year, $104.4 million extension, a cap hit of $8.7 million _ the same as this season. It’s bad news because Crosby, arguably the NHL’s best player when healthy, probably could have gotten a shorter deal….and more money per...

Sidney Crosby, Jonathan Quick Deals Present Plenty of Risk, But Gambles Well Worth It for Penguins and Kings

The Bruins made a prudent but conservative decision on Thursday, preventing Tuukka Rask from hitting the market but locking him up for just one season. There was nothing conservative about the day's two biggest deals in the NHL, but despite the risks, signing Sidney Crosby and Jonathan Quick should prove even more prudent for the Penguins and Kings, respectively. And there are...

John Toperzer: What's old is new: Pens have been thru big contracts before

Pittsburgh History: The Pens signed another superstar 20 years ago Just prior to the start of the 1992 hockey season, Mario Lemieux signed a seven-year, $42 million deal with the Pittsburgh Penguins. Thursday, the Pens and Sidney Crosby announced a contract worth $104.4 million over 12 years. It’s interesting to note that the deal Lemieux signed 20 years ago...

Get Your Long Term Contracts Now

Free agency is looming in the NHL.  Big name players are already signing some big contracts and the real madness does not begin for a couple years.  Yesterday we saw Sidney Crosby sign a 12 year $104.4 contract with Pittsburgh and Jonathan Quick sign a 10 year $58 million contract with Los Angeles.  Potential free agent Dennis Wideman signed a five year $26.25 million contract...

The Money Starts Talking

from Eric Duhatschek of the Globe and Mail, As Holland says, the Red Wings can’t sell climate, anonymity, or a state-of-the-art facility to players. Their pitch revolves strictly around the hockey-playing experience. With Nicklas Lidstrom now retired, the Red Wings have the need, the will and the cash (roughly $20-million in available salary-cap space) to land one or both of Parise...

John Toperzer: "Twas the day before free agency and all through the rink ... "

Change changing places, root yourself to the ground: Who's coming, who's going? Will the Pens find a partner for Kris Letang on Sunday? -- Just a quick post today. I hope you don’t get annoyed by my bringing different takes to obvious situations. I could’ve easily written about Sidney Crosby signing his deal only, but you can get that information...
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