NHL: Seattle Kraken at San Jose Sharks - Source: Imagn — Looking at why the Seattle Kraken may wind up regretting Matty Beniers' seven-year extension (Image credit: Imagn)

3 reasons why Kraken could regret Matty Beniers' $49.98M contract extension

Modified Aug 21, 2024 15:42 GMT

This week, Matty Beniers and the Seattle Kraken finalized a seven-year extension worth a total of $49.98 million, with an average annual value of $7.14 million per year. The deal comes on the heels of a season where the Kraken struggled to find consistency, ultimately finishing the year in sixth place in the Pacific Division.

After failing to qualify for the Stanley Cup Playoffs, GM Ron Francis went to work bolstering the team's roster in hopes of putting together a better 2024-25 season. The team notably acquired center Chandler Stephenson, who was fresh off a stint with the Vegas Golden Knights with whom he won the 2023 Stanley Cup.

In addition, the team also wound up signing defenseman Brandon Montour to a seven-year deal in early July. With a seven-year extension for Matty Beniers, the Kraken added depth to their roster as they look to return to the postseason in their fourth year in the league.

While the team is incredibly optimistic about Beniers right now, that could change in the future.

Three reasons why the Seattle Kraken could regret signing Matty Beniers to a seven-year extension

#1: Long-term deal

A seven-year deal for a 21-year-old could very well be a great option for the Seattle Kraken, however, as some fans were quick to point out on social media, the Kraken may have jumped the gun in offering Beniers a long-term contract rather than waiting another couple of years to lock him down long term.

While he has shown flashes of brilliance throughout his NHL career, Beniers has only spent two full seasons with the Kraken. The team is confident that Beniers will continue to develop. However, given how young he is, it's hard to tell where the floor and the ceiling are for this young center.

#2: Contract value

At $7.14 million a year, Matty Beniers' contract is on par with some well-established NHL stars such as Jonathan Marchessault and Zach Hyman, both of whom are making in the ballpark of $7 million per season.

While Matty Beniers' development could see him produce offensively at a similar rate as both Marchessault and Hyman, right now, he lacks the production, and the postseason experience of either player. This raises the question of whether or not the team may be overpaying in the first few years until Beniers reaches his prime.

#3: Consistency of production

It's been a tale of two seasons for Matty Beniers over the past two years. During the 2022-23 season, Beniers logged 57 points (24 goals, 33 assists) over 80 games. However, last season, Beniers saw a drop in his numbers, totaling 37 points (15 goals, 22 assists) over 77 games.

While his numbers from last year were still promising, the 20-point drop from the 2022-23 season to the 2023-24 season reinforces the idea that Beniers' development won't be linear. While the Kraken are optimistic that a bounce-back season is in order, only time will tell what truly unfolds.