Report: Panthers keeping Marchand on 6-year, $31.5M extension

Brad Marchand is staying in Sunrise.

The veteran winger is closing in on signing a six-year extension with the Florida Panthers, Sportsnet's Elliotte Friedman reports.

The deal carries an average annual value of $5.25 million, according to Pierre LeBrun of The Athletic. Marchand will earn a base salary of $1 million annually, with the rest being paid out in a signing bonus.

Marchand also gets a full no-movement clause for the first four seasons of the deal, and a partial no-trade clause in 2029-30 and 2030-31, per LeBrun.

Marchand chose to stick with the defending champions after reportedly drawing interest from the Toronto Maple Leafs and Boston Bruins.

He's the third member of the Panthers to avoid unrestricted free agency and re-up with the club. Florida inked Conn Smythe Trophy winner Sam Bennett to an eight-year deal with a $8-million cap hit Friday and reportedly re-signed defenseman Aaron Ekblad for $48.8 million over eight years earlier Monday.

With Marchand now in the fold, Florida's payroll is currently over the salary cap by $350,000, according to PuckPedia. Teams are allowed to exceed the cap by 10% during the offseason.

Marchand was traded to Florida at this year's deadline after a decorated 16-year run in Boston. He proved to be a perfect fit for the Panthers, helping them win a second consecutive Stanley Cup by scoring 10 goals and 20 points over 23 playoff games.

The 37-year-old has tallied 424 goals, 980 points, and 1,115 penalty minutes over 1,100 regular-season contests. He's also one of the best playoff performers of his generation, tallying another 66 goals and 158 points over 180 postseason appearances while winning two Stanley Cups.