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Erik Karlsson signs seven-year contract extension

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April 16, 2012; Ottawa, ON, Canada; Erik Karlsson "negotiates" his next contract extension.  Mandatory Credit: Eric Bolte-US PRESSWIRE
April 16, 2012; Ottawa, ON, Canada; Erik Karlsson "negotiates" his next contract extension. Mandatory Credit: Eric Bolte-US PRESSWIRE

The Twitter machine is blowing up with breaking reports that the Ottawa Senators have come to terms with Erik Karlsson on a seven-year contract extension. No one has yet reported the financial terms, but they're going to be hefty.

UPDATE: According to Bob McKenzie, the deal is worth $6.5M per season, on average--a deal that just makes sense for number 65.

In the meantime, revel in relief as the ink dries on a contract that will keep Karlsson in Ottawa for the better part of a decade. Personally, I was certain the deal would take long into the summer to get done, but this time I'm glad to be incorrect.

More info as it becomes available...