With training camp gradually approaching, the Detroit Red Wings took care of business in locking up one of their bright young stars, Dylan Larkin, to a multi-year extension on Friday.
UPDATE: The Detroit #RedWings today re-signed center Dylan Larkin to a five-year contract. #LGRW pic.twitter.com/MgmOCykUf2
— Detroit Red Wings (@DetroitRedWings) August 10, 2018
The Red Wings did not formally disclose details of the contracts but there are reports that the deal has an average annual value of $6.1 million.
More details on Dylan Larkin contract. Breakdown by year:
18-19: $1 million signing bonus. $5.75 million base
19-20: $7 million base
20-21: $4.75 million
21-22: $6.75 million
22-23: $5.25 million (no-trade clause)— Craig Custance (@CraigCustance) August 10, 2018
"He's becoming a young player that has those leadership qualities in him. He earns respect because he plays hard and loves the game," – Holland
— Detroit Red Wings (@DetroitRedWings) August 10, 2018
"It's a huge honor. To play in my hometown, to have this commitment of five years and to be able to be a Red Wing for 5 more years." – Larkin
— Detroit Red Wings (@DetroitRedWings) August 10, 2018
Larkin last season played in all 82 games for the Red Wings, setting personal-bests in both assists (47) and points (63), both of which also led the team. He also led forwards on the team in average time on ice per game (19:51). The recently-turned 22-year-old native of Waterford has racked up 56 goals and 140 points in 242 career games through his first three seasons in the NHL.
Larkin has also been a regular fixture in international play, representing the United States in the World Championships since 2013 on the junior circuit. He has picked up four medals, including gold at the 2014 U18 World Championships in Finland.
The new contract for Larkin pegs him as the biggest single cap hit for the Red Wings. However, the deal also puts them in a little bit of limbo in terms of the payroll. Following the newly-inked extension, Detroit is now approximately $3.27M over the cap. Teams are permitted to as many as 10 percent over the upper limit of the cap, which in this case is $79.5M for the upcoming 2018-19 season, but they must comply with the limit come the first game of the season (October 4).
Red Wings general manager Ken Holland said that the team is slated to be a little over the cap heading into training camp and that they will need to explore making another move to address it.
