UPDATE: Monday, Jan. 28 at 8:40 p.m. ET by Ryan Rudnansky
Subban's contract is worth $5.75 million, according to ESPN. He will make $2 million in his first year of the contract after making $875,000 last season.
Subban said, via the ESPN report:
I'm extremely happy to be at this point now where the past is behind us and I can look forward to being integrated to this team and helping them after such a great start.
The longer this thing holds over our team, the bigger a distraction this comes. I'm so happy this decision has been made.
---End of update---
A Toronto native, Subban posted 36 points (seven goals, 29 assists) in 81 games for the Canadiens last season. He has registered 76 points (21 goals, 55 assists) in 160 regular-season games with Montreal since first appearing on the ice for the team on Feb. 12, 2010.
In addition to his regular-season play, Subban has notched 12 points in 21 playoff games for the Canadiens. He posted four points (two goals, two assists) in Montreal's 4-3 series loss to the Boston Bruins in the 2011 Eastern Conference quarterfinals.
That kind of postseason experience is invaluable in the NHL, especially when it can be found in such a bright, young star.
To say everything has been peachy between Subban and the Canadiens this season would be ignoring the truth, though. The 23-year-old had been holding out for a more lucrative deal in a time when just about everyone was fed up after the CBA negotiations. It also fueled some people's perception that Subban was a selfish player.
As for the club, the Canadiens have gotten off to a strong 3-1 start, beating the New Jersey Devils in overtime on Sunday, 4-3. This appears to be a much better team than the squad that placed dead last in the Eastern Conference last season with 78 points.
Subban should help shore up the back line, and because of his athleticism he also is a threat offensively.
Now, the Canadiens can look forward past the distractions, possessing a bolstered roster complete with Subban, as they look to improve on last season's mark and make the playoffs.