Lightning Nearing Extension With Victor Hedman

According to Kevin Weekes of ESPN, the Tampa Bay Lightning are nearing a contract extension with all-star defenseman Victor Hedman. The news comes shortly after the report indicating that Jake Guentzel will be signing with the organization after the team traded for his signing rights earlier this afternoon. Because he is already signed to a contract in Tampa Bay, Hedman will have to wait until tomorrow to sign a new agreement.

Hedman is set to wrap up his current eight-year, $63MM extension after the 2024-25 NHL season concludes, and would have become an unrestricted free agent for the first time in his career at 34 years old. With an average annual value of $7.875MM since the start of the 2017-18 NHL season, there is an argument to be made that Hedman has been playing on a bargain of a contract for some time.

Over the life of his current contract, Hedman has appeared in 503 regular season games for the Lightning while scoring 91 goals and 427 points. The Lightning have made the postseason in each year of the deal while Hedman has assisted the team with 17 goals and 80 points over those seven years. Hedman has also won one Norris Trophy, one Conn Smythe Trophy, and two Stanley Cup rings in hardware.

The former second-overall pick can still be counted on to log heavy minutes on the ice but may see his workload increase after the team parted ways with defenseman Mikhail Sergachev on the second day of the 2024 NHL Draft. Hedman appeared to handle the workload fine with Sergachev out for much of the regular season this past year but it will be interesting to see if he can keep up that fortitude over the life of the expected extension.

The full terms of the deal will likely break tomorrow and it will be interesting to see how long the Lightning go on a Hedman extension. The team was recently willing to give a similarly-aged Steven Stamkos an eight-year agreement to keep the AAV down towards a team-friendly level.