Toronto Maple Leafs: Mikhail Grabovski Re-Signed to Pricey, Long-Term Deal

The Toronto Maple Leafs have signed centreman Mikhail Grabovski to a five-year, $27.5 million contract extension.

Chris Johnston of the Canadian Press tweeted the following about the new contract:

"

Mikhail Grabovski's deal with #leafs includes a modified no-trade clause. He can choose 10 teams each year.

— Chris Johnston (@reporterchris) March 6, 2012"

A week ago at the trade deadline, the Leafs could have traded Grabovski for a first-round draft pick, but elected to keep him instead.

The 28-year-old has been loyal to the organization and has been one of its best players over the past two seasons.

In 2010-11, Grabovski posted 29 goals and 29 assists for a career-high 58 points in 81 games played.

This season, he has 20 goals and 25 assists for 45 points in 59 games.

His cap hit starting next season will be $5.5 million, which is identical to John Tavares' cap hit and a shade higher than those of Marian Hossa ($5,275,000) and Jeff Carter ($5,272,727).

The skilled Belarusian is easily the organization's best centreman and is often one of its best players on the ice.

However, his cap hit puts him in some distinguished company, such as the aforementioned Tavares and Hossa. His cap hit is higher than that of the likes of Bobby Ryan, Ryan Kesler and Corey Perry.

The most curious part about Grabovski's new cap hit is that it will be $100,000 more than Phil Kessel's cap hit of $5.4 million.

Kessel and linemate Joffrey Lupul are both in the NHL's top 10 in terms of points, but will both be paid less than Grabovski next year. Lupul will become a UFA after next year, but Kessel is signed for an additional year after that.

Kessel is the Leafs' top goal scorer and easily its most dangerous offensive threat. He has been somewhat of a go-to guy for the Leafs since he was traded to Toronto.

With Grabovski's contract extension, though, that status as a go-to guy should now be in doubt.

That's not to diminish what Kessel brings to the club or will bring in years to come.

What it does show is the organization's faith in Grabovski, his abilities and even his potential for growth.

It solidifies Grabovski's status as a leader on the team.

Brian Burke and company may have overpaid to keep him in Toronto, but given the lack of available top-six centremen on the market, his departure to free agency would have been devastating.