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Red Wings willing to offer free agent Mike Modano one- or two-year contract

The Detroit Red Wings are willing to offer Mike Modano a one- or two-year deal at a base salary of between $1 million and $1.5 million per season, THN.com has learned.

If Modano, 40, signs for one year only, the Red Wings would also be permitted to offer him performance bonuses.

Under the collective bargaining agreement, teams are allowed to go 7.5 percent over the salary cap – which amounts to $4.47 million – as a bonus cushion for entry level players and over 35 players who are on one-year deals.

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Any amount the team goes over the cap due to the bonuses can be applied to the cap the next season.