The Carolina Hurricanes locked up a big piece of their future on Saturday morning. Restricted free agent Seth Jarvis inked a new eight-year, $63.2 million contract with the club, according to Frank Seravalli of Daily Faceoff on X, formerly Twitter.
“Sources: #Canes and Seth Jarvis have agreed to terms on an eight-year, $63.2 million contract,” reported Seravalli on the social media platform. “It's a fascinating deal- one that has the chance to be a precedent setter league-wide with a lower cap hit because of deferred money.”
The deal is a different type of contract than others signed throughout the league because it includes a feature that has usually only been seen in the MLB: deferred money. If Jarvis continues to grow and becomes a superstar, then the lower AAV due to the deferred money may become a route than more NHL organizations use in the future.
Seth Jarvis, Hurricanes could have bright future together
The 22-year-old center continues to ascend towards stardom, as he notched 67 points (33 goals and 34 assists) during the regular season. He followed that up with nine points in 11 postseason games, with five goals and four assists. His performance during his third season in professional hockey's top level showed that Jarvis is ready to take that next step.
Since the start of free agency, rumors have flown around on when exactly Jarvis would sign a new deal. As the season grew closer, the whispers have started to get louder. Well, GM Eric Tulsky and head coach Rod Brind'Armor were able to finally lock in the young center. The deal should keep him with Carolina through the 2031-32 campaign and could possibly see him become the next Hurricanes captain once current skipper Jordan Staal retires.
If his growth continues at the pace he's performed at since arriving in Carolina, then Hurricanes fans will welcome the young star for as long as he calls PNC Arena and Raleigh, North Carolina home.
New deal for Jarvis features interesting wrinkle
The deferred money in the 22-year-old's new contract is definitely a new one for the NHL. Deferred money has largely been featured in the MLB for decades. Most sports fans know about the Bobby Bonilla- New York Mets contract, in which the retired outfielder still receives a $500,000 check from the Mets on July 1st each year until 2035.
Tulsky and the Hurricanes brass certainly hope that this contract turns out better than that one. It's also the first one of its kind in the NHL. This is notable because if it works out for all parties, then deferred money could be an option on long-term contracts for young and upcoming players such as Jarvis. There are many restricted free agents still on the market, such as the Winnipeg Jets' Cole Perfetti. As numerous teams look to either lock up or poach these free agents, deferred money could become a valuable asset in their toolboxes.
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