NHL Rumors: Timo Meier, Devils Agree to 8-Year Contract Extension with $8.8M AAV

After being traded to the New Jersey Devils in February, veteran right winger Timo Meier is reportedly set to remain with the team long-term.

According to The Athletic's Pierre LeBrun, Meier and the Devils have agreed to an eight-year contract extension with an average annual value of $8.8 million.

LeBrun previously reported the two sides had made "serious progress" in negotiations.

Meier was set to become a restricted free agent when NHL free agency opens on July 1 after the four-year, $24 million contract he signed with the San Jose Sharks came to an end this season. The Devils traded four players and two draft picks to acquire the Swiss star along with two players, two prospects and a draft pick from the Sharks.

Earlier this month, Devils general manager Tom Fitzgerald said he planned to open discussions with Meier and his agent Claude Lemieux for a potential multiyear extension.

"We would love nothing better to tie him up long term," Fitzgerald told NHL.com's Mike Zeisberger at the NHL Scouting Combine. "That's our goal. That's what Claude and I will go through. I want them to understand what New Jersey is, what the organization is, the living--I think New Jersey is a diamond in the rough--the travel, all the positive things. Give him a chance to settle in and go: 'OK, I hope you want to be here.' Those are some of the things we'll go through."

A seven-year veteran who was drafted ninth overall by the Sharks in 2015, Meier had 52 points (31 goals, 21 assists) in 57 games with San Jose and 14 points (nine goals, five assists) in 21 games with the Devils during the regular season. His production dropped off in the playoffs with just two goals and two assists, but the organization remains confident in the 26-year-old.

With the Devils signing Meier to a long-term deal, the team continued to build around a core that includes Jack Hughes, Dougie Hamilton, Jesper Bratt and Erik Haula.