P.K. Subban signs 2-year deal with Canadiens, forgoing long-term contract demands

The Montreal Canadiens announced on Monday that they’ve signed restricted free agent P.K. Subban to a 2-year deal, ending a tense faceoff that had sparked rumors of offer sheets and trades involving the young star.

In other words: Camp Subban blinked.

Subban was looking for a 5-year deal from the Habs. GM Marc Bergevin, in his first major test on the job, offered 2 years and $5.5 million back in August 2012 – before the lockout – and stuck to those terms even as Montreal fans bellowed “We Want P.K.!” during a scrimmage at Bell Centre.

According to Louis Jean of TVA, Subban’s new contract is for $2 million in Year 1 and $3.75 million in Year 2 – a $2.875 million cap hit, and a $5.75 million total value.

The deal was for $2.3 million and $2.9 million last August.

Subban didn’t have much leverage at the moment, with the Montreal Canadiens playing well and Andrei Markov looking suddenly like a Norris contender on the blueline. Besides, Subban had declared on multiple occasions that he didn’t want to leave Montreal; and as an RFA, he didn’t have much sway either.

So instead of Drew Doughty money, he got Michael Del Zotto money. At least for the moment -- obviously, a new long-term deal could be negotiated as early as this summer, with Bergevin bargaining off the $3.75 million base for Year 2. (Will he end up regretting that he didn't lock Subban into a friendlier cap hit in two years?)

Most importantly, Montreal gets P.K. Subban back on the ice.

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