The Calgary Flames signed forward Alex Tanguay to a 5-year, $17.5 million contract extension on Saturday.
The 31-year-old centre was brought back by the Flames for a second stint with the club last season on a one-year, $1.7 million contract. His new deal will come at a cap hit of $3.5 million.
While the Flames were able to find some cap relief by trading veteran defenceman Robyn Regehr to the Sabres, this signing eliminates any possibility of Calgary trading for Ryan Smyth - whose expected deal to the Oilers has not been completed.
Tanguay finished last season with 22 goals and 47 assists in 79 games for Calgary.
In 818 career games, he has 225 goals and 686 points. He will be entering his 12th year in the league.