Last Monday, the Ottawa Senators delivered two major announcements: they had signed Bobby Ryan to a 7 year/$50.75 million contract extension and Erik Karlsson was anointed the ninth captain in Senators history. Seemingly, you would think that the second of those statements would be the more controversial. But no.

It was the term and dollars given to Bobby Ryan that has sparked serious speculation. Pundits from multiple Toronto-based media outlets have criticized his play since arriving in Ottawa, and this news has only fuelled the fire of hatred. I for one believe his contract is, and will continue be, a great deal for two main reasons.

He’s worth it.

Of course no one can forecast exactly how a player will perform in the future, but with the salary cap heading north of $75 million, $7.25 million/yr is fairly inexpensive for a top-line right winger. If you look around the league there’s not many top-line wingers who have tallied 30+ goals and 100+ hits five times in their career’s.

The market dictated his annual salary, not Senators general manager Bryan Murray. Is there a team out there, where if you subtracted their first-line RW they’d rather go with their second-line RW then Bobby? And don’t say Chicago, because in all fairness Patrick Kane should be their first-line RW.

He’ll bring friends.

The more important reason this contract is a great deal is: it signifies a new era in Ottawa. A renaissance if you will. This deal gives hope. Not only to Senators fans, but to Senators players. If you want to keep Erik Karlsson (happy), you have to surround him with young talented teammates. And if you can keep Erik Karlsson and Bobby Ryan (happy), they will attract even more (and encourage the current) talent to play for Ottawa.

So yes, this may be a small market team trying to keep their talented players in this small market, but isn’t that what every-sized-market team is doing. Why did the Leafs give Tyler Bozak a five year deal worth 21 million dollars? Phil Kessel said so. If they didn’t lock up Bozak, would Kessel still be in Toronto?

Bobby Ryan is 27 now, and he’ll be 35 when this deal’s done. It was likely his last major contract. If he had tested free agency, I have no doubt he would be making at least eight million/year over the next eight years. And where would that leave the Senators? I for one am glad that Mr. Melnyk decided that (finally) the right player was worth it.