The Toronto Maple Leafs are close to signing captain Dion Phaneuf to a seven-year contract extension, a source confirmed to ESPN.com Saturday, although there remain details to iron out before the deal gets done.
TSN reported Saturday that the deal being negotiated is worth $49 million in total.
Phaneuf, 28, is slated to be an unrestricted free agent after the season.
The veteran defenseman is in the last season of a six-year, $39 million deal which carries a $6.5 million cap hit.
In 38 games this season, Phaneuf has three goals, 11 assists and leads the Leafs in plus-minus rating with a plus-10.