[Re-signed] Kevin Labanc

[bondon]

Whats not to understand everyone? This seems like a kid that wants to win... and doesn't care significantly about the money!

Imagine if more players made decisions about winning rather than earning the most money...

Say EK talked to Pavelski and said, 'Hey, instead of me signing an $11M per year contract... why don't you and I both sign for half of that each... and let's win the cup!. These guys would still be rich... but they would also have a significantly increased chance at winning the Cup.

I mean, I agree with you in principle and if that's the reason then I respect him for doing it. To be honest I used to be of the same opinion where I didn't care too much about money as long as I was enjoying what I was doing. But as I've gotten older I've quickly seen that people take advantage of this mindset if they know you have it, and I would hope that Labanc's agent is looking out for him to make sure he doesn't get left behind. Leaving money on the table IMO has diminishing downsides as you start to get to higher dollar amounts - Labanc signing for $1million and maybe taking a $2-3 million paycut is more significant than a guy like Karlsson signing for $2-3 million less on a massive deal.

Hockey players definitely need to venture more into outside money ventures more. Leave money on the table via contracts, go do a commercial. We saw it slightly more this yr. Between UberEats, Statefarm, Apple, Visa, players were going out and doing stuff outside of just hockey.

Karlsson 100% could have made a ton of money on the side via his hair with Burns and Thorton on the team.

The problem is, they can have their cake and eat it too! NHL players make peanuts compared to most other sports.

Curious if Labanc was advised to establish some sort of L.L.C. into which the Sharks would "invest" a few million dollars. There's gotta be some kind of behind-the-scenes compensation going on here, or this dude is just crazy.

This is what I mean...it seems SO good that it just raises red flags. I wonder if the league will investigate.

[ericdaoust]

Say EK talked to Pavelski and said, 'Hey, instead of me signing an $11M per year contract... why don't you and I both sign for half of that each... and let's win the cup!. These guys would still be rich... but they would also have a significantly increased chance at winning the Cup.

That's not even a hypothetical. We actually had a chance to see this play out. One player took $11M and the other moved to Dallas.

Labanc got hosed. If the team wants sacrifices to win, it shouldn't fall on one player's shoulders.

[SeaDawg]

Whats not to understand everyone? This seems like a kid that wants to win... and doesn't care significantly about the money!

Imagine if more players made decisions about winning rather than earning the most money...

Say EK talked to Pavelski and said, 'Hey, instead of me signing an $11M per year contract... why don't you and I both sign for half of that each... and let's win the cup!. These guys would still be rich... but they would also have a significantly increased chance at winning the Cup.

I can understand this sentiment if the player is a veteran who has already earned millions of dollars and who is financially secure if there is a career-ending or season-ending injury. This was Labanc's first chance to earn life-altering money that could have set him up for life. This was very poor management by his agent, imo.

[PenguinHunter]

I can understand this sentiment if the player is a veteran who has already earned millions of dollars and who is financially secure if there is a career-ending or season-ending injury. This was Labanc's first chance to earn life-altering money that could have set him up for life. This was very poor management by his agent, imo.

Maybe to Labanc, he sees $1 Million as life altering enough to take a chance. You invest the after tax amount, along with the money he earned on his ELC and you could easily live off the interest annually. You would not be living at the level of most NHL players, but maybe his true desire is the Stanley Cup and not living the NHL style lifestyle.

Or maybe Labanc is the 3rd generation of a bunch of inherited wealth?

So many maybe's here and I don't think we will ever know the real reason why he signed a 1 year deal for only 1 million.

[lobo1969]

NHL players union will have a close look at this contract. They don't want to see members being undercut on contracts this much whether its by personal choice or by team arm twisting.

[2014olympicgold]

Maybe to Labanc, he sees $1 Million as life altering enough to take a chance. You invest the after tax amount, along with the money he earned on his ELC and you could easily live off the interest annually. You would not be living at the level of most NHL players, but maybe his true desire is the Stanley Cup and not living the NHL style lifestyle.

Or maybe Labanc is the 3rd generation of a bunch of inherited wealth?

So many maybe's here and I don't think we will ever know the real reason why he signed a 1 year deal for only 1 million.

https://www.mercurynews.com/2017/10/...eam-come-true/

His dad was a Slovakian hockey player, barely getting paychecks from his club in Slovakia. He emigrated to USA for his future children's potential for a better life.

[newfcollins]

Whats not to understand everyone? This seems like a kid that wants to win... and doesn't care significantly about the money!

Imagine if more players made decisions about winning rather than earning the most money...

Say EK talked to Pavelski and said, 'Hey, instead of me signing an $11M per year contract... why don't you and I both sign for half of that each... and let's win the cup!. These guys would still be rich... but they would also have a significantly increased chance at winning the Cup.

Remember when Paul Kariya did this in Colorado? Kariya went from $10 million with the Ducks to $1.2 million in Colorado. His plan backfired quickly. They didn't win the cup. Then the lockout happened, a salary cap got implemented, and Kariya then signed for $4.5 million a year in Nashville.

I'm pretty sure Kariya could have signed a $10-million-per-year deal instead of what he got in Colorado. He left a lot of money on the table that he was never able to get back. And he didn't win his cup. Never assume things are going to be better next year. If Labanc struggles this year and gets only 30 points and San Jose is bounced in the first round because Jones can't make a save when needed, Labanc just left a lot of money on the table that he will never get back.

[SeaDawg]

Maybe to Labanc, he sees $1 Million as life altering enough to take a chance. You invest the after tax amount, along with the money he earned on his ELC and you could easily live off the interest annually. You would not be living at the level of most NHL players, but maybe his true desire is the Stanley Cup and not living the NHL style lifestyle.

Or maybe Labanc is the 3rd generation of a bunch of inherited wealth?

So many maybe's here and I don't think we will ever know the real reason why he signed a 1 year deal for only 1 million.

That's all possible, I suppose, but still not financially prudent. $1 million isn't really all that much money for a 22 year old to live off the rest of his life. I mean, the cost of a modest house in many major cities these days can come close to or exceed that much money.

[PenguinHunter]

Remember when Paul Kariya did this in Colorado? Kariya went from $10 million with the Ducks to $1.2 million in Colorado. His plan backfired quickly. They didn't win the cup. Then the lockout happened, a salary cap got implemented, and Kariya then signed for $4.5 million a year in Nashville.

I'm pretty sure Kariya could have signed a $10-million-per-year deal instead of what he got in Colorado. He left a lot of money on the table that he was never able to get back. And he didn't win his cup. Never assume things are going to be better next year. If Labanc struggles this year and gets only 30 points and San Jose is bounced in the first round because Jones can't make a save when needed, Labanc just left a lot of money on the table that he will never get back.

That's all possible, I suppose, but still not financially prudent. $1 million isn't really all that much money for a 22 year old to live off the rest of his life. I mean, the cost of a modest house in many major cities these days can come close to or exceed that much money.

I agree with all these points... and I agree its not the smartest decision financially for Labanc. I am not disagreeing with anything anyone is saying about what would have been the best decision for him financially...

I am just spit balling ideas as to why he signed for so cheap... and reminding everyone that money isn't the be all and end all... There is more to life than money. And maybe Labanc has all the answers to life and doesn't care whether he makes $1 Million or $2.5 Million this year, because he knows where he is going and he knows he has it better off than his third cousin who pumps gas all year in a Northern State where it gets cold in the winter for $40,000 a year?

Sure, he is not making as much as McDavid.... but I am confident if something happens and he can't play hockey next year... he could find a way to live off the million and get some job in the Pro Shop at a golf course in California.

[SeaDawg]

I agree with all these points... and I agree its not the smartest decision financially for Labanc. I am not disagreeing with anything anyone is saying about what would have been the best decision for him financially...

I am just spit balling ideas as to why he signed for so cheap... and reminding everyone that money isn't the be all and end all... There is more to life than money. And maybe Labanc has all the answers to life and doesn't care whether he makes $1 Million or $2.5 Million this year, because he knows where he is going and he knows he has it better off than his third cousin who pumps gas all year in a Northern State where it gets cold in the winter for $40,000 a year?

Sure, he is not making as much as McDavid.... but I am confident if something happens and he can't play hockey next year... he could find a way to live off the million and get some job in the Pro Shop at a golf course in California.

You are right...I get what you are saying. Money isn't everything, and that is a good mantra to live by.

I just hope what you are saying is true (that Labanc has that outlook on life) and that this isn't the case of a young player getting poor advice from his agent/representation.

[PenguinHunter]

You are right...I get what you are saying. Money isn't everything, and that is a good mantra to live by.

I just hope what you are saying is true (that Labanc has that outlook on life) and that this isn't the case of a young player getting poor advice from his agent/representation.

I surely hope what I am saying is true as well! Maybe that's why I keep discussing it... is to try and convince myself of it! haha

One has to hope that Labanc is not naive enough to think he was only worth $1Million. Ben Chairot signed for more than that!!

There is so much information available in this day and age that he shouldn't just believe what his agent told him.

And the agent should also be fighting for more $$$ because his fee will be based on a percentage.

This is not the day and age where Alan Eagleson screwed Bobby Orr over... I am sure if there was twitter and television coverage like there was today back then, Bobby Orr would have been more informed and not have the same situation happen.

[agentzero]

I just hope what you are saying is true (that Labanc has that outlook on life) and that this isn't the case of a young player getting poor advice from his agent/representation.

If this was the case I believe the PA would step in.

An rfa with no rights who doesn’t want to hold out or get traded. That’s why he signed at 1 M.

[ericdaoust]

"It's not all about money" is not the same as "I'll settle for 1/4 of what I am worth"

[agentzero]

"It's not all about money" is not the same as "I'll settle for 1/4 of what I am worth"

What you’re worth also vastly depends on what you’re willing to accept. If he doesn’t want to play anywhere else and doesn’t want to force the team’s hand, then he’s worth the 1M he took.

[Dennis]

Yes Kevin, yes you did.


Labanc signed one-year contract to boost Sharks' quest for Cup

"I think I did [GM Doug Wilson] a big favor, and the Sharks organization, taking that deal," Labanc said. "There's a lot more salary cap (space) for him to get another one or two players. It's awesome and I think it'll help our team be good Stanley Cup contenders this year and that's where we want to be, we want to hoist the Stanley Cup this year. It's a long season, and we're going to need very player we can get." He also stated that he didn't want to wait to get a deal done because he didn't want a contract situation hanging over him during the off-season.