MONTREAL - The Montreal Canadiens ended their stalemate with P.K. Subban by agreeing to terms with their franchise defenceman on an eight-year contract on Saturday.
Subban and the team endured an arbitration hearing Friday that would have led to a one-year deal.
Instead, the 25-year-old is in the fold in Montreal for the long term and will reportedly make $72 million over the course of the contract.
Subban said after arbitration that the possibility of negotiating a long-term deal was "kind of a discussion for a later date," which turned out to be Saturday.
The deal takes Subban, who already has a Norris Trophy and Olympic gold medal, through the age of 33.
"Thank you to @CanadiensMTL for making a commitment to myself and my family," Subban wrote on Twitter. "Im Excited about the future! #letsgetit"
Subban had 10 goals and 43 assists last season and 42 goals and 125 assists in his NHL career.
"We are very pleased to have reached a long term agreement with P.K. Subban," general manager Marc Bergevin said in a statement. "This agreement helps consolidate the future of our team. A key element of our group of young veterans, P.K. plays with a high level of intensity every time he steps onto the ice.
"Despite his young age, he carries a great deal of experience and brings contagious energy to the team. Defencemen of his level are a rare commodity in the NHL."