Pittsburgh Penguins reportedly sign Kris Letang to 8 year extension

Pittsburgh Penguins’ general manager Ray Shero publically stated that he had two priorities entering the offseason- lock up both Evgeni Malkin and Kris Letang to contract extensions.

It looks like Shero is a man of his word.

May 24, 2013; Pittsburgh, PA, USA; Pittsburgh Penguins defenseman Kris Letang (58) clears the puck against the Ottawa Senators during the third period in game five of the second round of the 2013 Stanley Cup Playoffs at the CONSOL Energy Center. The Pittsburgh Penguins won 6-2 to close out the series. Mandatory Credit: Charles LeClaire-USA TODAY Sports

Several sources have reported that Letang and the Penguins have come to terms on an eight-year extension worth $58 million.

The eight-year extension pays the Norris Trophy finalist an average $7.25 million a year and containing a limited no-trade clause to 15 different NHL teams.

Letang still has one more year left on his current deal paying him $3.5 million. The new deal would kick in for the 2014-15 season.

Last Thursday, Letang rejected a $56 million, eight-year offer from the Penguins, leading to speculation the Penguins might trade him as the NHL Draft nears, but the two sides got together prior to the draft and hammered out a deal.

Neither the Penguins, nor Letang’s representatives have confirmed the deal as of yet, but all signs point to Letang being in a Penguins sweater for a very long time.

Given the Penguins financial situation, with so much money being tied up to just a handful of players, and with the salary cap going down, the move is a bit surprising but it is not a bad thing.

Despite his playoff series against the Boston Bruins, which began speculation that he would be traded, Letang is still among the top handful of defensemen in the league today.

Letang finished the regular season with 38 point in 35 games played and despite a less than spectacular series against the Bruins, still finished the postseason with 16 points in 15 games played.

Throughout his career Letang has recorded 209 points throughout his seven seasons in the NHL, all with the Penguins.

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Topics: Kris Letang, Pittsburgh Penguins, Ray Shero

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