Bobby Lu’s New Deal

Roberto Luongo is the latest National Hockey League player to join the “decade deal” club. This Wednesday, Luongo agreed to a 12 year, $64 million contract extension with the Vancouver Canucks. Luongo is arguably the top goaltender in the NHL at the moment.

Luongo will make $7.5 million during the upcoming season, the last of his current deal. The new deal’s $5.33 million salary cap hit is very reasonable for a player who could likely make close to twice that amount elsewhere in the league.

But Luongo wants to win a Stanley Cup, and with the Canucks having re-signed the Sedin twins (Daniel and Henrik) earlier this summer, the team certainly has a solid core in place for the next several years. Each side is taking a risk in signing a contract of this length, but with Luongo, it should be money well spent.