Sources tell TSN Dany Heatley has agreed to a 6-year contract extension with the Ottawa Senators believed to average between $7.5 and $8 million per year.
Although details of the structure remain confidential, sources say it's similar to the contract Daniel Briere signed in Philadelphia in terms of a heavily weighted salary at the front of the contract that ratchets downward, making the cap hit the team will absorb more attractive.
The on again - off again negotiation resumed this afternoon with the Senators tabling an offer that the two sides used as the base to avoid tonight's season opening deadline.
UPDATE (the full breakdown -- now official):
Dany Heatley has agreed to a six-year contract extension with the Ottawa Senators, averaging $7.5 million per year with a no movement clause.
The contract will pay Heatley $5 million in signing bonus money next July 1 and $5 million in salary for $10 million in total next season, $4 million in signing bonus money on July 1, 2009 and $4 million in salary for $8 million total in Year 2, $8 million in Year 3, $8 million in the fourth year, $6 million in Year 5 and $5 million in Year 6.
The $9 million in signing bonus payable on consecutive July 1's means $14 million is payable within one year of the deal on a July 1 to July 1 basis.
''We were able to work on a structure throughout the day and were able to find a structure that works for both,'' said Heatley's agent J.P Barry.
''Dany is very excited. He's had nothing but success in Ottawa and he's thrilled to be on board long term with one of the best teams in hockey,'' Barry added.