This just in, the Arizona Coyotes have announced a one year contract extension for defenseman Jusso Valimaki worth a reported $1 million.

The 24 year old former 16th overall pick was claimed off of waiver by the Coyotes from the Calgary Flames prior to the start of this season and has fit in well with his new club. He has a respectable two goals and 12 points in 43 games with the Coyotes this season and was slated to become a restricted free agent this upcoming offseason before coming to terms. Interestingly enough though, Valimaki takes a slight pay-cut on his new deal and, obviously, doesn't get any term either. He's earning $1.5 million per season on a two year deal currently, but will drop to just $1 million on a one year commitment next season.