Breaking: Auston Matthews has agreed to a contract extension with the Leafs

Hockey’s most trusted insider Bob McKenzie of TSN is reporting that a contract extension for Toronto Maple Leafs superstar Auston Matthews is “imminent” and could be announced today or tomorrow.

McKenzie is projecting a five year deal with an average annual cap hit of roughly $11.5 million.

Check it out:

Interesting… The $10 - $12 million that has been rumored to be the number for Matthews was thought to be on a league maximum eight year deal… given that this deal is only five years, wouldn’t this make it a massive overpayment in terms of dollars?

UPDATE: McKenzie’s colleague Pierre LeBrun is now reporting that the Matthews contract extension is a done deal.

Good deal, Leafs fans? 

Chris Johnston of Sportsnet is reporting that most of Matthews' new deal will be paid out in bonuses:

The Leafs have now confirmed the news:

Read below for the official announcement:

The Toronto Maple Leafs announced today that the club has agreed to terms with forward Auston Matthews on a five-year contract extension. The average annual value of the contract is $11.634 million. 

Matthews, 21, has appeared in 38 games for the Maple Leafs this season and registered 23 goals and 23 assists for 46 points. He skated in 62 regular season games for the Maple Leafs in 2017-18 and registered 63 points (34 goals, 29 assists), while adding a goal and an assist in seven Stanley Cup playoff games. In 182 career NHL regular season games, he has recorded 178 points (97 goals, 81 assists), while registering seven points (5 goals, 2 assists) in 13 career Stanley Cup playoff games. In 2016-17, Matthews captured the Calder Trophy as the NHL's Rookie of the Year and was named to the NHL's All-Rookie Team after establishing Maple Leaf rookie records for goals (40) and points (69) in a season, which led all NHL rookies in both categories. In his NHL debut on October 12, 2016 at Ottawa, he set a new NHL record for goals scored in an NHL debut with four. The Scottsdale, Arizona native has also represented Toronto at the NHL All-Star Game in three consecutive seasons (2016, 2017, 2018).  

Internationally, Matthews has represented the United States at the 2016 IIHF World Championship and registered nine points (6 goals, 3 assists) in 10 games to earn a Top 3 Player on Team recognition. He has also represented the United States at two World Junior Championships (2015, 2016), capturing a bronze in 2016, two World U-18 Championships (2014, 2015), capturing gold at both, and the 2014 World U-17 Hockey Challenge. He took part in the 2016 World Cup of Hockey in Toronto as a member of Team North America and registered three points (2 goals, 1 assist) in three games.  

Matthews was originally drafted by the Maple Leafs in the first round (1st overall) of the 2016 NHL Draft.