The Phoenix Coyotes and pending free agent goaltender appear to be making progress on a new contract.
According to TSN Hockey Insider Darren Dreger, the two sides are closing in on a six-year deal that would see the 31-year-old netminder make around $5.7 million per season.
In 34 games last season, Smith posted a 15-12-5 record with a 2.58 goals against average.
It's been a busy off-season for the Coyotes who locked up head coach Dave Tippett to a five-year deal earlier in the month.
Off the ice, the club which has been owned by the league since 2009 might have a new ownership group in Renaissance Sports and Entertainment, a group headed by Canadian investors, contingent on a new lease agreement with the city of Glendale.