Financial terms were not disclosed, but as usual, their secret-keeping is awful and we found out anyway. According to the Globe & Mail, Grabovski's contract is worth $27.5 million over the five-year term, hitting the salary cap at an average annual value of $5.5 million. Grabovski becomes the Leafs' highest-paid forward in the deal.
He was set to become a free agent on July 1 without the contract extension, and because of that, there was talk that Brian Burke could trade Grabovski at the NHL Trade Deadline back on Feb. 27. But the general manager reiterated many times that he didn't wish to trade the 28-year-old, and it seemed as though most of the pre-deadline chatter was one big negotiating ploy.
For more on the Leafs signing of Mikhail Grabovski, check in with Maple Leafs blog Pension Plan Puppets.