The Philadelphia Flyers will sign defenseman Kimmo Timonen to a one-year contract extension, according to a report by Tim Panaccio of Comcast SportsNet Philadelphia on Wednesday night.
The deal is expected to be worth $6 million and could be announced by the end of the week.
Panaccio's report confirmed a report earlier on Wednesday night from Eklund of Hockey Buzz, who stated that he had learned of the agreement from a current player on the Flyers roster.
The 37-year-old defenseman is playing in the final year of a six-year, $38 million contract, which carries an annual average value of $6.3 million. Timonen's actual salary for the 2013 season is $3 million, which is a pro-rated figure due to the lockout.
While the timing of the deal is somewhat odd, it seems likely that the Flyers didn't want to lose another pending free agent by waiting too long to get him signed, as was the case last offseason with Matt Carle.