The Vegas Golden Knights signed former St. Louis Blues captain Alex Pietrangelo to a seven-year contract on Sunday. Photo by @benchbrossports (Twitter).
- The Vegas Golden Knights signed former St. Louis Blues captain Alex Pietrangelo to a seven-year contract on Monday worth $8.8 million per season
- The Golden Knights’ Stanley Cup odds went from +950 to +750
- Are the Golden Knights a good bet at this price? See analysis and updated 2021 Stanley Cup odds below
Last year, Alex Pietrangelo lifted up the Stanley Cup as captain of the St. Louis Blues.
Friday, Pietrangelo lifted up a wheelbarrow full of cash as the newest member of the Vegas Golden Knights.
Vegas signed the 30-year-defenseman and unrestricted free agent to a seven-year contract with an AAV of $8.8 million. After the move, the 2020-21 Stanley Cup odds of the Golden Knights shortened from +950 to +750.
The Golden Knights and Colorado Avalanche are co-favorites to win the Cup.
2020-21 NHL Stanley Cup Odds
|Vegas Golden Knights||+750|
|Tampa Bay Lightning||+950|
Odds taken Oct. 12 at FanDuel
Pietrangelo has spent his entire 13-season NHL career (758 games) with the Blues. St. Louis who selected him fourth overall in the 2008 NHL entry draft.
Cash That Winner
If you bet on Pietrangelo signing with the Golden Knights, go ahead and collect your winnings. Vegas was listed at a betting line of +500 to acquire the services of the NHL All-Star defenseman.
The Toronto Maple Leafs were the +375 favorite in a pre-free agent frenzy prop wager speculating on Pietrangelo’s future home.
Alex Pietrangelo has reportedly agreed to a 7-year deal with the Vegas Golden Knights. Scoring, possessing the puck, blocking passes, winning battles – Pietrangelo does it all at an elite level. His 2019-20 numbers below. #VegasBorn pic.twitter.com/jZmJRqcmDz
— The Point (@ThePointHockey) October 12, 2020
Staying in St. Louis with the Blues was the second betting choice at +400. The Calgary Flames (+650) were another team offered in this betting market.
Pietrangelo Scouting Report
The best defenceman available in the free-agent class of 2020, Pietrangelo earned the third NHL Second All-Star Team selection of his career during the recently-completed season. He led Blues defenders with 16-36-52 totals.
Pietrangelo produced 6-16-22 numbers on the power play. He topped the St. Louis rearguard in shots (225), shooting percentage (7.1), points per game (0.74), takeaways per 60 minutes (1.52), and time on ice (24:40 per game).
An $8.8M x 7 year contract is fair value for Pietrangelo, who should remain an elite defender for the next three seasons pic.twitter.com/rvZuCXAXps
— dom luszczyszyn (@domluszczyszyn) October 12, 2020
The veteran defender can help a team in all situations on the ice. He played 3:06 per game on the power play and 1:50 a night on the penalty kill. His five-on-five Corsi of 53.8 was second-best among Blues defenseman.
He Stayed In Vegas
Once the Blues had signed unrestricted free agent defenseman Torey Krug, any possibility of staying in St. Louis ended for Pietrangelo. Later the same day, he boarded a flight to Las Vegas to be wooed by Golden Knights officials.
Overall value of Pietrangelo’s contract in Vegas is $61.6 million over SEVEN years.
The last Blues’ offer on record was $64 million for EIGHT years.
But as @PierreVLeBrun reports here, Pietrangelo gets a full no-movement clause. https://t.co/dlNI3AZgYo
— Jeremy Rutherford (@jprutherford) October 12, 2020
They showed all the team – and the city – has to offer. He saw the Vegas practice facility. There was a tour of the Summerlin area of Clark County, Nevada.
Summerlin is Las Vegas’ premier urban and residential community. It’s adjacent to the Red Rock National Conservation Area.
Potent Back End
Pietrangelo gives Vegas a high end shutdown-type defender, something the Golden Knights lacked.
Coupled with Shea Theodore, the arrival of Pietrangelo gives Vegas a dynamic duo of offensive producers along the blueline.
Based on a rough estimate on state taxes (NV vs MO), Pietrangelo’s $8.8M AAV with Vegas is the equivalent to approx $9.4M in St. Louis. $616,000 in tax savings. (Then take into account all the work travel state stuff, etc.)
— David Pagnotta (@TheFourthPeriod) October 12, 2020
Theodore posted career highs in goals (13), assists (33), and points (46) last season. He ramped up to nearly a point per game in the playoffs, going 7-12-19 in 20 games.
Next season, the Golden Knights will be the only NHL team to suit up two of the top-10 scoring defensemen from 2019-20.
Moves To Be Made
Pietrangelo’s contract creates an immediate headache for Vegas GM Kelly McCrimmon. He must shed $2.1 million in salary to get below the league’s offseason salary cap limit.
Defenseman Nate Schmidt ($5.95 million) is expected to be moved.
Our assumption is that the contract was signed after 5:00pm ET and therefore will not be officially registered by the league until tomorrow.
This would then buy Vegas some additional time to make the necessary space required to accommodate Pietrangelo’s AAV under the cap. https://t.co/AKJoL8ndh3
— CapFriendly (@CapFriendly) October 12, 2020
The Golden Knights are also actively shopping goalie Marc-Andre Fleury ($7 million) and scoring forward Max Pacioretty ($7 million).
No matter who goes, it won’t change the fact that Vegas suddenly looks to be the best bet to win the 2020-21 Stanley Cup.
An industry veteran, Bob literally taught the course on the history of sports at Elder College. He has worked as a Sports Columnist for Postmedia, appeared as a guest on several radio stations, was the Vice President of the Society For International Hockey Research in Ontario, and written 25 books.