Kris Letang and the Pittsburgh Penguins have agreed to terms on a contract extension worth $58 million over eight years, according to the team's official site. The deal will begin with the 2014-15 season and will not expire until 2022.
Earlier in the week, Letang rejected an eight-year, $56 million offer made by the organization. It is unclear whether the deal includes an extensive no-movement clause, though earlier reports indicated that the organization would allow Letang to choose 15 acceptable trade destinations. Letang's current four-year deal has no trade restrictions.
Letang is coming off an excellent 2012-13 campaign, during which he finished third in voting for the Norris Trophy, handed out each season to the NHL's best defensive player. He led all defensemen with 38 points and 33 assists in 35 games. During Pittsburgh's 15 playoff games, he led the team with 16 points and 13 assists, and was second among all NHL players behind Boston's David Krejci, who notched 17 points with the benefit of an extended playoff run.