The Pittsburgh Penguins have signed forward Patric Hornqvist to a five-year, $26.5 million extension.

The contract carries annual cap hit of $5.3 million, a raise from Hornqvist current $4.25 million salary. According to CapFriendly, the Penguins now have $70.2 million comitted to 17 players next season, $43.05 million of which is accounted for by Evgeni Malkin, Sidney Crosby, Phil Kessel, Kris Letang, Justin Schultz and Hornqvist.

In 51 games so far this season, Hornqvist has 17 goals and 15 assists.

"We're thrilled to get him under contract," Penguins head coach Mike Sullivan said Tuesday. "We're thrilled for Patric. He's been a big part of this team and what we've accomplished the last couple of seasons. There's no one more deserving."

Penguins general manager Jim Rutherford said Monday he was clsoing on an extension with the 31-year-old.

"Over my career, I've done very few contracts in the middle of the year. I think it says a lot about what Patric Hornqvist means to us to do this now... If everything goes well, the deal should be done tomorrow," Rutherford said. 

Hornqvist was traded to the Penguins from the Nashville Predators prior to the 2014-15 season. He's crossed the 20-goal mark in each of his first three seasons with the team and is on pace to do again this year. 

A seventh-round pick of the Predators in 2005, Hornqvist has 191 goals and 395 points in 630 career contests.

The Penguins will be back in Tuesday night as they host the New Jersey Devils.