8yrs, reportedly $8m/per Don't get teams desire to always give out the biggest deal they possibly can.
I don't think Kessel and Phaneuf are two high quality character players and leaders. I think they both have some fairly shitty aspects to their personalities and to their games. I'm not sure what the Leafs hope to achieve with those two guys driving the team. However I think they got a good deal on Kadri so maybe that deal and Kessel's balance out.
When does the current CBA expire? Whatever year that is we will be enjoying the 5th lockout under Bettman