Hurricanes make calculated bet on Jackson Blake extension

The Carolina Hurricanes signed forward Jackson Blake to an eight-year, $40.94 million contract extension on Thursday, PuckPedia reported.

The deal is a calculated gamble on the part of the Hurricanes, who are looking to lock up a potentially valuable asset at a reasonable price point. The Canes are betting that Blake’s value will only go up, making this contract a reasonable move.

On the surface, the Hurricanes are swinging big on Blake based on only one season as a sample size. His 17 goals and 17 assists in 80 games are encouraging for his first full year.

But it seems the Hurricanes jumped the gun somewhat as there’s no telling if Jackson Blake’s first season is a harbinger of things to come. It could be that this season was a flash in the pan for Blake and the Hurricanes.

If that’s the case, this contract could age poorly.

But then again, there’s something to be said about the former fourth-round pick from the 2021 NHL Draft. Jackson Blake seemed poised throughout the season. He seemed even more comfortable during the playoffs, chipping in six points in 13 games.

Blake is on the verge of notching a 20-goal, 40-point campaign next season. If he can manage that, this contract could look like a steal for the Hurricanes. With the salary cap ceiling going up and player salaries gradually escalating, there’s plenty of reason to believe that the Hurricanes made the right call by signing Blake when they did.

Jackson Blake signs deferred contract with Hurricanes

An interesting feature of Blake’s contract is the deferred bonus structure. The deal counts for $5.17 million against the cap per season. However, the contract payout changes in real money terms.

The deal includes a $15.9 million signing bonus, which will be deferred until July 1, 2034. He’ll receive $4.5 million in Year 1, then $4 million in Year 2, and $3.4 million in Year 3. From Years 4 to 6, Blake gets $600K, and then $3,4 million from Year 7 onwards.

This structure is somewhat unique in terms of actual payments as it does not alter the Canes’ cap situation. If anything, it’s a tax and accounting workaround aimed at helping everyone’s finances.

It’s also worth pointing out that this contract does not have any trade protection until 2031, in which a modified no-trade clause kicks in. PuckPedia shows it’s a 10-team no-trade list. It’s an interesting move that the clause would kick in at that point.

Likely, the contract accounts for such a clause later in the deal, just in case the Hurricanes are compelled to move Blake for cap reasons.

While Jackson Blake and the Carolina Hurricanes hope that won’t be the case, there’s always a chance that the Canes move on from Blake later on in this contract.

For now, it looks like a win for the Canes as they continue to set themselves up for sustained, long-term success.