NHL

Sources: Pens, Letang near $58M extension

06/30 11:46 AM

The Pittsburgh Penguins and star defenseman Kris Letang were close to agreeing on an eight-year, $58 million contract extension Sunday just before the NHL entry draft, sources told ESPN.com.

NEWARK, N.J. -- The Pittsburgh Penguins and star defenseman Kris Letang were close to agreeing on an eight-year, $58 million contract extension Sunday just before the NHL entry draft, sources told ESPN.com.

Letang's agent, Kent Hughes, and Penguins general manager Ray Shero still had to convene at the Prudential Center, where the draft is being hosted, to iron out the final details, sources said.

"The deal is not done yet; we are still working on it," a Penguins source told ESPN.com.

But unless there are unforeseen, last-minute obstacles, it will be an eight-year extension paying him on average $7.25 million a year and containing a limited no-trade clause.

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.

On Thursday, Letang rejected a $56 million, eight-year offer from the Penguins, leading to speculation the Penguins might trade him.

But the two sides reconvened over the last few days here at the draft and managed to bridge the gap.


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