Comment: Ladd signing a great deal for Jets

The Winnipeg Jets have locked Andrew Ladd in to a long-term deal, without breaking the bank.

The team doesn’t officially disclose dollar amounts, but his five-year deal has been reported to be worth $22 million. Ladd will make $4 million this year, and $4.5 million every year after that.

The signing was announced just hours before the deadline to file for arbitration, something Ladd “likely” would have done, according to his agent, had he not been able to ink a deal with the Jets by that time. Even still, both sides would have continued negotiating right up until his hearing — usually held toward the end of this month.

Had the two sides not been able to reach a deal in time, the independent third body would have been called upon to dish out an offer to Ladd, based on similar performances and contracts of other restricted free agents. (Unrestricted free agents — the ones that have been landing huge deals since July 1 — don’t enter the discussion during these hearings.)

One RFA who matches up quite nicely with Ladd is David Krejci. Both are 25, have played 3 full NHL seasons, and have similar point totals in that time. They both have Stanley Cup rings to show for their efforts. Had Ladd gone to arbitration, the judge may have held Krejci’s accomplishments up against Ladd’s to determine his worth. Krejci’s salary for this upcoming season? He’s set to make $4 million — exactly what the Jets have inked Ladd for.

The other key element of arbitration, is that the judge’s offer would only have been a one-year deal. Instead the Jets locked Ladd up for five. And in those four extra years, Ladd’s salary barely climbs at all.

The final beauty of this deal, is that Ladd could have tested the open waters of unrestricted free agency after just two seasons with the Jets. Yes, Ladd had said in the media, prior to the signing, that he’s tired of all the bouncing around he’s done — from Carolina, to Chicago, to Atlanta, and now Winnipeg. He suggested that it might be nice to settle down somewhere for a while. But when you look at the money that has been forked out to UFAs since Canada Day, Ladd’s long-term signing has come at a very reasonable price.

Update: Winnipeg Jets GM Kevin Cheveldayoff told radio station CJOB that Andrew Ladd will be the team’s captain, and that Blake Wheeler will file for arbitration, and continue negotiations with the Jets.