With Smyth failing to happen and the Regehr trade officially official, the Flames have kept up the constant stream of events by finally resigning Alex Tanguay to a surprisingly palatable $3.4M cap hit over five years.
The important part of this deal is what's apparently not being included: a NTC or NMC of any sort. Thank god. I'll admit, I was expecting a Tanguay deal to cost over $4M a year for 4+ with a NMC, but this is pretty reasonable on both parties.
Of course, this is forcing Flames fans to face the fact that the team's managing decisions are clearly Jekell and Hyde. We start the day with an incredibly rough trade losing Robyn Regehr and a second purely for the purpose of getting Ales Kotalik off the books and follow that up with a very good deal for Alex Tanguay.
The real news here is that Mitch gets to pick the (probably embarassing) name on my Flames jersey. So long as it's not Chucko...
This has to be at least a partial explanation for the Regehr trade which is indefensible on a stand alone basis. The length of the contract will be what some fans disagree with but others will focus on the reasonable Cap hit of 3.4 million.
This is also opening up the possibility of an Anton Babchuk signing which again may be another domino from the Regehr robbery.
Shortly after the deal sending Robyn Regehr to Buffalo was made official this morning, the word on the street (a.k.a. Twitter) is that the Flames have now signed Alex Tanguay to a contract extension with a five-year term worth $17M, which breaks down to about $3.4M/per year. No word about any no-movement clauses, but since it's the Flames I think we can all safely assume that there's one thrown in there.
If true, the dollar figures work out in the Flames' favour, at least more so than originally anticipated, although it's still a significant raise from the $1.7M he made last season. The amount also raises questions about Feaster's other plans for the off-season, since he clearly didn't need to move Regehr just to make room for Tanguay with that cap hit. Obviously I'm not a fan of the term; five years is a long time for a player on the wrong side of 30 and he'll be 36 by the time his contract is up.
Update - For your viewing pleasure from the Draft Floor Feaster comments on the Regehr trade and the Tanguay signing.