On Monday, Dec 4, the Winnipeg Jets announced a three-year contract extension with Nino Niederreiter, worth $4 million per season. There is a lot to takeaway from this signing, and it’s one that we saw coming. Niederreiter has spoken on the record to how he loves Winnipeg, and there is a natural fit within the lineup for one of the better five-on-five players on the team.
Niederreiter expressed his joy to reporters after practice, stating: “I’m very happy to be here, and I think we have a good chance in the coming years to be an elite team, and I’m happy to be a part of it.”
Nino Niederreiter’s Contract is Fair Value for Both Sides
As a pending unrestricted free agent (UFA), this new $12 million contract extension will kick in to begin the 2024-25 season and carry through the 2026-27 season. Niederreiter’s $4 million AAV is the same price as his previous contract, and gives fair value for both sides of this deal.
Niederreiter has six goals, eight assists, and 14 points through 23 games to begin the season, as he has been on the third-line alongside Adam Lowry and Mason Appleton for the majority of the season. The Niederreiter acquisition last season, and now extension, is some of General Manager Kevin Cheveldayoff’s best work. Here are three takeaways from the contract extension.
When we take a look at Money Puck’s tracking, that third-line has been Winnipeg’s most effective forward line at even strength. They have recorded a 57.2 percent expected goals percentage (xG%), 52.4 percent Corsi %, and have outscored their opponents 11-5.
They have been the most reliable forward combination for Rick Bowness and his coaching staff to begin the 2023-24 season, and with this contract extension, Niederreiter will be bringing his reliable and consistent play to Winnipeg’s lineup for at least the next three seasons.
Niederreiter Provides Surplus Value Given On-Ice Impact
Niederreiter has been a consistent force at five-on-five for his entire career. The former fifth-overall selection of the 2010 NHL draft has scored 20 or more goals in five career seasons, and was on pace to do so in four other seasons before injuries found him just short of that mark.
As we can see here from his player card from The Athletic, Niederreiter is an all-around force at even-strength, and will provide surplus value on his newly signed contract. The Athletic’s market value calculations estimates his worth at $6.7 million, and with his contract coming in at $4 million, the Jets seem to have gotten tremendous value on this deal.
He is as reliable as anyone to score 20 goals in a season, and provides a much needed defensive impact that the Jets have greatly benefitted from this season. The Jets have one of their deepest forward groups in franchise history, and Niederreiter is a huge reason for that.
He plays a grinding, defensively responsible style of hockey, which is perfect for Bowness’ system and how the Jets and their third-line want to play. Lowry has led the group in those areas, but Niederreiter has shown great chemistry in emulating the same style of play.
The Winnipeg Jets Once Again Retain a Notable Player
There is a long-standing myth that the Winnipeg Jets cannot retain notable stars to play in their city. This was partly squashed when Mark Scheifele and Connor Hellebuyck signed matching seven-year extensions before the season began, but once again with the Niederreiter extension, that assumption is proving to be a myth.
The contract does wonders on the ice for the Jets organization, but off the ice, they once again retained a notable player who has spoken out about his love for the city of Winnipeg. This is a home-run extension for the Jets and squashing the off-ice narratives surrounding the city is just one of the many reasons.
Adam Lowry signed a five-year extension, Josh Morrissey signed an eight-year deal when he was due for an extension, Kyle Connor signed a seven-year deal, and this season alone, Scheifele, Hellebuyck, and now Niederreiter have all signed for the long-term.
There is a lot of excitement around this team and what they are capable of this season, but this extension gives them a strong middle-six player at a fair value for the next three seasons. Niederreiter will continue to provide surplus value on the ice, as he will play a multitude of roles for Winnipeg going forward.
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