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Report: Red Wings and forward Andreas Athanasiou have agreed to one-year deal worth $1.387M

Detroit Red Wings v Washington Capitals Photo by Patrick Smith/Getty Images

You may have heard the numerous reports today, but amid a contract negotiation impasse, the Red Wings have finally come to terms with forward Andreas Athanasiou on a one-year deal, as per TSN’s Bob McKenzie.

Of course, it’s not that easy because of the cap situation. McKenzie continues:

Athanasiou has spent the last week or so skating with HC Lugano. The Red Wings reportedly offered him a two-year deal at $1.9 million AAV, but Athanasiou’s side wasn’t having it. It appears now, that Ken Holland showed off just good of a poker face he has. He knew Athanasiou was leaving money on the table by not playing, and so did his agent. Now that Athanasiou is on a one-year deal, the Wings will get a highly-valuable piece back, and the player will earn his arbitration rights next offseason, which he is sure to use unless the fog lifts between the two sides until then.

As the ink dries, the team will likely rush Athanasiou to get over and get some reps in practice before inserting him into the lineup. The Wings will need to make some moves to become cap-compliant — I’m no betting man, but it’s highly likely the Wings use LTIR as a form of relief with their horrendous cap situation, but will be looking to make a trade for a longer-term solution soon.

Another note: the pay on Athanasiou’s deal will be prorated for every day since October 5th, so it’s like that the real cap hit here could hover just above 90% of what is being announced.

In terms of timing, it’s going to take a bit for AA to get back from Switzerland and start practicing with the team, so we’re probably looking at the middle of next week before we start clawing for news about when he’ll be in the Red Wings’ lineup.

Ken Holland will be speaking at 6pm this evening. It’s not very often he addresses the media like this, so I’d imagine there is some sort of significance to it. Stay tuned.