At an average of $6.3 million per year, Cam Ward's new contract seems like a lot of money. He'll be the second-highest paid player on the team (behind Eric Staal) and the third highest-paid goalie in the NHL next year (among those under contract, based on cap value).
So surely there are long-term ramifications for the Hurricanes? Players cut loose, purse strings tightened, etc.? Actually, no.
It's a lot of money for a goalie -- more than Martin Brodeur, more than Miikka Kiprusoff, more than Ryan Miller, more than Tim Thomas
Ward's deal fits perfectly into the structure the Hurricanes have established for next season, leaving them approximately $3.5 $4.8 million (updated) to spend on a free-agent forward if they so desire, on a reasonable $50 million budget.
Back in July, I took an educated guess at what the Hurricanes would look like in 2010-11, figuring on $6 million as a reasonable salary for Ward going forward.
There are a lot of "ifs" in play here -- if Aaron Ward will re-sign for $1.5 million or so; if Brandon Sutter, Drayson Bowman, Jamie McBain and Zach Boychuk (no doubt about that last one) are all ready for the NHL; if the Hurricanes decide not to re-sign any of their free-agents, and it seems doubtful they wouldn't keep any of them (Aaron Ward is a bit of an exception because the Canes wouldn't have traded for him if they only thought he'd be here for one year, I'd imagine) -- but Ward's deal only solidifies the position the Hurricanes are in going forward.
Still, it isn't cheap. Only Roberto Luongo, Henrik Lundqvist and Kiprusoff will make more than Ward next season if his contract is evenly averaged (pending future signings and re-signings) and Ward's cap value is higher than Kiprusoff's.
Luongo: $10 million 2010-11 salary, $6.75 million cap value
Lundqvist: $7.75 million, $6.875 million
Kiprusoff: $7 million, $5.83 million
Ward: $6.3 million (averaged; tentative pending release of offical numbers); $6.3 million
Luke has worked for The N&O since 2000. He covered the Carolina Hurricanes and the NHL before becoming a sports columnist in August 2008. A native of Evanston, Ill., he graduated from the University of Pennsylvania. He can be reached at 829-8947 or 
Comments
Eleven Canes will be UFAs,
Wed, 09/30/2009 - 21:02 — ctillEleven Canes will be UFAs, and I can't imagine that JR will cut all eleven of them loose. Even if the Canes hadn't paid Cam Ward so much, I expected Walker and Wallin to be replaced by younger players. At present the Canes are the second-oldest team in the league.
To my eyes, the Cam Ward deal does increase the likelihood that either Whitney or Cullen will not be re-signed. Which one? Let's see how they perform this season.
I'm not convinced that JR will be in a position to cut Corvo loose.
What it means
Wed, 09/30/2009 - 13:43 — esteban1949well it should "solidify" the base of the Canes to where if they Canes need to rebuild or add to them as JR did for this season (2009-2010). But with the pool of players the canes curently have in Albany...JR is for all intence and purposes is sitting in the cat bird seat, and has no real worries, aside of just how many empty seats there will or mught be this season. Thanks Luke...
Go Canes !!
2010-2011 and UFAs
Wed, 09/30/2009 - 10:43 — abramsdougLuke,
I think the Hurricanes will and should re-sign Whitney and Cullen; but probably the economics of the situation would dictate some help from Whitney and Cullen on their salaries. Whitney and Cullen are part of the core of the Hurricanes. Certainly, this preseason has shown that the recession has impacted veterans' salaries. I hope they will also re-sign Aaron Ward and Corvo -- again with some salary considerations in terms of what they might earn on the open market versus staying with the Hurricanes. Corvo has seen what it is like to be in a team situation where his skills are not fully appreciated as contrasted to a team that values tremendously his skills. Next year will be time for Sutter and Boychuk to make the team. Bowman may well also be ready to play. I doubt Wallin will be re-signed. Walker continues to be a major asset for the team, so it is hard to envision the 2010-2011 team without him; but again it will take salary considerations. As we have seen this year, none of the veterans are going to concede their spot on the team and the talented younger players are going to have to prove to the coaches and to Jim Rutherford that they are better than the veterans. With the quality of talent the Hurricanes have, the team is well-set for the present and the future.