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Tampa Bay Lightning extend forward Cory Conacher into 2019-20

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Conacher will stay in the Lightning organization until the summer of 2020.

Tampa Bay Lightning v New Jersey Devils - Game Three
NEWARK, NJ - APRIL 16: Brian Boyle #11 of the New Jersey Devils hits Cory Conacher #89 of the Tampa Bay Lightning in Game Three of the Eastern Conference First Round during the 2018 NHL Stanley Cup Playoffs at the Prudential Center on April 16, 2018 in Newark, New Jersey. The Devils defeated the Lightning 5-2.
Photo by Bruce Bennett/Getty Images

Five hours after placing 28-year-old Cory Conacher on waivers with the purpose of eventually sending him down to the AHL’s Syracuse Crunch, the Tampa Bay Lightning have agreed to terms with Conacher on a one-year, one-way contract worth $700,000.

Conacher’s current deal is in the second year of a two-year, two-way contract, meaning he has a different salary in the AHL than in the NHL. Conacher’s new deal starts on July 1st, 2019, earning him $700,000 in both the NHL and AHL should he be sent down.

Conacher, 28, has skated in one game with the Lightning this season, the Bolts’ 2-1 shootout victory against the Florida Panthers on opening night. He appeared in 36 games with the Lightning during the 2017-18 season, notching eight goals and 12 points to go along with 24 penalty minutes. The Burlington, Ontario native also played in 18 games with the Crunch last season, recording seven goals and 15 points.

This move immediately comes off as waiver protection for a player the organization clearly sees value in. Other NHL teams will be wary of bringing on his contract now because they’ll have to make space for him next year along with this year. The one-way deal guarantees Conacher some cash next year as well. He will be losing $450,000 in annual salary this season moving from the NHL to the AHL (should he clear waivers). Technically, it would actually be a little less since he has spent a few weeks in the NHL, but there’s no need to get into it right now.

For further information, you can read Geo’s piece on what waiving Conacher means for the Bolts and Crunch.