Penguins sign Malkin to five-year extension

Jul 2, 2008 - 6:32 PM PITTSBURGH (Ticker) -- Evgeni Malkin will remain a part of the Pittsburgh Penguins' young core.

Malkin, one of the NHL's most exciting players, signed a five-year contract extension with the Penguins on Wednesday.

Financial terms were not disclosed, but the Pittsburgh Tribune-Review reported Malkin's deal is worth $43.5 million. The new deal commences with the start of the 2009-10 season.

"We are excited to have Evgeni signed to a long-term contract," Penguins general manager Ray Shero said. "This is an important signing for our franchise and the city of Pittsburgh, and we commend Evgeni on the his commitment to the future of the franchise and the city.

"The signing continues to ensure the young core of this team can stay intact for years to come."

The 21-year-old Malkin's deal is patterned after Sidney Crosby's five-year, $43.5 million contract. The Penguins announced the extension less than one hour after right wing Marian Hossa, who scored 12 goals for Pittsburgh this past postseason, signed a one-year contract with the Detroit Red Wings.

Earlier this offseason, Malkin's future in the Steel City was thrown into doubt when a Russian team was expected to offer him a multi-year contract worth $12.5 million per season.

However, Malkin will remain a huge part of a Penguins team that has a young core featuring Crosby, center Jordan Staal, defenseman Ryan Whitney and goaltender Marc-Andre Fleury.

The second overall selection in the 2004 draft, Malkin followed his Calder Trophy-winning rookie campaign by scoring 47 goals and 106 points this past season for the reigning Eastern Conference champion Penguins.

Malkin's strong play proved vital to a Penguins club that was without the 20-year-old Crosby, who missed 29 games with an ankle injury, for a large portion of their outstanding season.