Penguins ink Malkin to five-year extension Staff

7/2/2008 5:54:40 PM

The Pittsburgh Penguins have signed Evgeni Malkin to a five year contract extension worth $43.5 million.

The extension mirrors the one signed by Penguins captain Sidney Crosby in July of 2007, a five-year deal averaging $8.7 million.

"This is an important signing for our franchise and the city of Pittsburgh and we commend Evgeni on his commitment to the future of the franchise and the city," Penguins general manager Ray Shero said in a statement. "This signing continues to ensure the young core of this team can stay intact for years to come."

Malkin, 21, emerged as an NHL superstar in his second season, finishing second in the league with 106 points before adding 22 points in 20 playoff games and has one season remaining on his current contract, so the extension would take effect in the 2009-2010 season.

That means that the duo of Crosby and Malkin are both going to be under contract with the Penguins through 2013.