The Edmonton Oilers have come to terms on a four-year, $14 million extension with defenseman Ladislav Smid, according to an announcement by the team on Monday morning. The deal will begin next season and will carry an annual average value of $3.5 million against the salary cap.
The two sides were progressing in negotiations, according to a report by Jim Matheson of the Edmonton Journal on Sunday afternoon.
Smid was playing in the final year of a two-year, $4.5 million contract that carried an annual average value of $2.25 against the salary cap. If the two sides were unable to come to terms on an extension, the Oilers were expected to move the 27-year-old defenseman before Wednesday's trade deadline.
In Matheson's report, Smid acknowledged that negotiations were going well and that he was looking to make between $3.5 million and $4 million per season. He stated that a five-year, $3.5 million deal would satisfy him, as he is looking to remain with the Oilers, via the Edmonton Journal:
"Negotiations are pretty good right now. We have three days left, and I'm really hopeful we'll get a deal done. Obviously, we have to have something done by Wednesday. I would hate to be traded. We have a great thing going on now and I'd hate to leave."
Smid was originally chosen with the No. 9 overall selection in the 2004 NHL Entry Draft by the Anaheim Ducks. In 2006, he was included as a piece in the trade that sent Chris Pronger to the Ducks. He has played in 443 career NHL games (all with the Oilers) and has compiled 10 goals and 52 assists for a total of 62 points.
Smid currently ranks third amongst Oilers defensemen in average ice-time per game in the 2013 season, logging 20:12 over the span of 34 games. He also plays a key role on the team's penalty kill, as he is averaging 3:08 per game, the second most among Edmonton defensemen.