EDMONTON (CP) - Captain Canada is staying put in Edmonton.
Ryan Smyth, the Oilers star winger who earned that nickname for his years of service representing Canada on the world stage, signed a $7-million US, two-year deal Wednesday.
Signing the 29-year-old Alberta native was the final contractual piece of the puzzle for the Oilers as they head into their first season under the levelled playing field of a league-wide salary cap.
That cap allowed the team to trade for and sign stars Chris Pronger and Mike Peca last month. Smyth said that played a part in his decision.
"They made some strides to get these guys and I want to be part of it for the long term," he said.
He had already been skating in the Oilers training camp because he had accepted a one-year deal for the qualifying offer of $2.7 million while his agent and Oilers general manager Kevin Lowe tried to hammer out something for a longer term.
Smyth said a longer contract wasn't in the cards.
"I would have loved to have had a three or four-year deal but the numbers weren't there. But at the end of the day we'll assess everything two years from now and really find out where the market is for both sides."
After the two years is up, Smyth is an unrestricted free agent.
Noting he is from Banff, that his parents live in Red Deer and his children were born in Alberta, Smyth said he couldn't imagine playing anywhere else. He said a one-year deal would have caused him to worry about renegotiations and wonder whether the Oilers would trade him away.
Lowe said a two-year contract gives both sides security and room to manoeuvre.
"There's no question that if Ryan had a successful year that there would be teams looking for his services," he said.
"If you talk to any other manager in the league, any other hockey person in pretty much the world, when they think of a Canadian hockey player you think of Ryan Smyth - the way he plays the game, his fearlessness, his dedication, his work ethic night after night."
Smyth was selected by the Oilers with the sixth overall pick in the 1994 NHL Entry draft. He has played in 642 regular season games - all with Edmonton - and has recorded 198 goals and 232 assists for 430 points.
He led the Oilers with 23 goals and 59 points in the 2003-04 campaign, was voted the most popular player by fans, and has been an offensive standout for a franchise that has endured a decade of false hopes and playoff flameouts.
Smyth is also famous for his work wearing the Maple Leaf.
During the NHL lockout, he made his ninth and 10th appearances as a member of Team Canada.
He scored four points in six games to help Canada win the gold medal at the World Cup of Hockey last year and netted two goals and three points in nine games as Canada won the silver medal at this year's IIHF world championship in Vienna.
Smyth is Canada's all-time leader in games played at the world championship with 60.
He was also on Canada's Olympic gold medal winning team at the 2002 Winter Olympics in Salt Lake City and has been Canada's captain at the last five world championships.
Oilers captain Jason Smith said Smyth brings more than a goal scorer's touch to a team determined to get back into the NHL playoffs.
"He's one of the premier players in the league. He does a lot of things really good for our team, from the power play to grinding in the corners to killing penalties," he said.
"Through the summer a lot of things fell into place for our team and obviously this is the last point out there.
"And now that that's done, we're just looking forward to getting things going."