The fans of the Toronto Maple Leafs breathed a collective sigh of relief Wednesday evening when the news broke that they would see the franchise’s best player ever sign an extension that will see Auston Matthews for an additional four years past this season.
The initial details showed that Toronto Maple Leafs center was the new highest paid player in the National Hockey League, but when the news broke the exact details were not disclosed outside of the contract being four years in term with an average annual salary of $13.25 Million.
In the first release from Editor in Leaf regarding the deal, I stated that Matthews would likely get a full no movement clause and his salary would be almost entirely in signing bonuses.
Puck Pedia tweeted out Wednesday evening the details of the contract, which did include a full no movement clause which was consistent with his current five year deal.
The payments are structured that he will receive $775,000 in each of the first two seasons and $900,000 in the last two years in annual salary, leaving the rest in signing bonuses.
On July 1, 2024, Matthews will receive $15.925 Million, followed by $14.425 Million the following July 1. The last two seasons the former first round pick will receive $10.18 Million and $9.12 Million, giving him 93.7% of his contract in signing bonuses.
What this means, is by July 1, 2024, Matthews will have been paid out $31.125 Million of his $53 Million total salary.
The benefit for the player is that for the final three seasons of Matthews contract, he will be earning just $21.875 Million which equates to $7.29 Million for a $13.25 Million cap hit.
You can rest assured that this is not set up to trade the two-time Rocket Richard Trophy winner to any team. While the Leafs can’t get away from the higher taxes, what the organization can do that a lot of teams can’t do, is offer up large signing bonuses to give the player a lot more money up front.
The Signing Bonus Is an Asset for the Toronto Maple Leafs
The Toronto Maple Leafs have been able to use this benefit as an enticement for their players. Of the 11 biggest signing bonuses in a single season, the Leafs have handed out eight of largest.
The $15.925 handed to Matthews next July 1 is currently the single highest bonus given to any player in the salary cap history (ref: capfriendly.com).
Nathan MacKinnon has three of the other 11 largest, including the second and third biggest at $15.725 Million which the first was paid out this last Canada Day and the second being next summer. The rest of the list are held by Matthews, Mitch Marner and John Tavares.
- Auston Matthews $15.925M (2024-25)
- Nathan MacKinnon $15.725M (2023-24)
- Nathan MacKinnon $15.725M (2024-25)
- Mitch Marner $15.3M (2019-20)
- Nathan MacKinnon $15.25M (2025-26)
- John Tavares $15.25M (2018-19)
- Auston Matthews $15.2M (2019-20)
- Auston Matthews $15.2M (2020-21)
- John Tavares $14.99M (2019-20)
- Auston Matthews $14.425M (2025-26)
- Mitch Marner $14.3M (2020-21)
This is one of the assets that the Toronto Maple Leafs can use and they should continue to do so going forward.