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The Seattle Kraken completed their most pressing need this week by signing Matty Beniers to a seven-year contract extension. The two parties agreed to a seven-year, $49.98 million deal, which will pay him $7.14 million annually. Beniers' career couldn't have started better after being the Kraken's first-ever first-round pick in 2021, as he recorded 57 points in 2022-23 to win the Calder Memorial Trophy. However, he took a step back in 2023-24 with just 37 points. The Kraken have established a contract threshold, as the Beniers deal is the same length and value as Brandon Montour's deal.
“Matty has been a core part of our team since making his NHL debut, not only on the ice but in his commitment to our community and our fans,” Kraken general manager Ron Francis said. “Signing Matty to a new contract was a top priority for our off-season, and we are excited to have it done. We’re looking forward to seeing Matty take the next steps as a player and watching him contribute to many more memorable moments for our franchise.”
The Kraken went on a memorable run during the 2022-23 season, culminating in an upset victory over the defending Stanley Cup Champion Colorado Avalanche in the first round of the playoffs. They believed it was the start of something special, but the team's offense faltered in 2023-24. They averaged 2.61 goals per game, among the worst in the league.
The Kraken believe Beniers will shake off the sophomore slump this upcoming season and return to his Rookie of the Year form. Beniers will get some help, as the franchise's second-ever first-round pick, Shane Wright, should be a full-time teammate in 2024-25. The Kraken could be an exciting team, but how do we think Beniers' contract will age over the next seven years?
How does Matty Beniers stack up to his peers?
Beniers has been the most successful player from a stacked draft class in 2021. The Buffalo Sabres drafted defenseman and Beniers' Michigan teammate Owen Power first. The two Wolverines exited college together, debuting in the 2021-22 season. Power has been a stud for the Sabres, recording 71 points in 163 games, impressive numbers for a defenseman.
The Anaheim Ducks drafted Mason McTavish with the third pick. McTavish is one of the best young two-way forwards in the NHL but has tallied just 88 points in 153 games. The top five rounded out with the New Jersey Devils taking Luke Hughes and the Columbus Blue Jackets selecting Kent Johnson.
Mason McTavish hasn't signed his extension yet, but some experts report that Quinton Byfield's deal could be the comparison. Byfield signed a five-year deal with an average of $6.25 million. Byfield has 88 points in 179 games, which is intriguing when comparing it to Beniers' deal.
Beniers' pact is a win for the Kraken with the term. The Kings face Byfield becoming an unrestricted free agent in 2029, while the Kraken get Beniers until the end of 2031. Beniers has also been a more productive player than Byfield, so the Kraken are getting tremendous value.
We can compare Beniers' deal to Juraj Slafkovsky's with Montreal. Slafkovsky has just 60 points in 121 games but will cost the Canadiens $7.6 million annually until 2033. If Beniers returns to his rookie-year form, he will be a bigger contributor than Slafkovsky at a reduced price.
It's hard to compare contracts across teams because all franchises are in different situations. However, it's easy to see that Seattle is getting a deal on Beniers compared to players like Byfield and Slafkovsky.
The Kraken have a bright future if Beniers is the benchmark
The Kraken have a bright future thanks to their upcoming prospects. Matty Beniers has already made an impact, Shane Wright starred in the American Hockey League last season, and they also have Berkly Catton, Eduard Sale, and Jagger Firkus in the pipeline. Beniers emerged as the quiet leader of the young prospect group, so his contract will likely create a benchmark for the rest of the deals.
The Boston Bruins achieved this during the 2010s, as Patrice Bergeron and David Krejci's contracts held the annual average ceiling. Players like Brad Marchand and David Pastrnak had high-value deals because they wouldn't sign contracts higher than those players. The Montreal Canadiens are now doing the same thing with Nick Suzuki, as Slafkovsky and Cole Caufield's deals come just under his annual salary. (That situation changed with the acquisition of Patrik Laine, but Kent Hughes reiterated in his press conference that it's a different situation since the Canadiens didn't sign the contract.)
The salary cap's projected rise in the coming years could put the Kraken in a perfect situation. If all their young players take a pay cut to be on Beniers' level, they could afford to re-sign all those players. It'll also open them up to sign a big fish in free agency or acquire them through trade, like the previously-mentioned Laine deal.
It's hard to find fault in this deal for either side as long as Beniers returns to his rookie-year form. We can call this a win-win in the initial days after the contract, but we'll need to take a second look depending on Beniers' performance in 2024-25. Could Beniers have gotten more than the Slafkovsky deal? Maybe, but that's the only fault in this contract for the young center.
Matty Beniers Grade: A-
Seattle Kraken Grade: A
