NHL trade deadline: Ladislav Smid signs extension with Oilers

The Edmonton Oilers have come to terms on a four-year, $14 million extension with defenseman Ladislav Smid, according to an announcement by the team on Monday morning. The deal will begin next season and will carry an annual average value of $3.5 million against the salary cap.

The two sides were progressing in negotiations, according to a report by Jim Matheson of the Edmonton Journal on Sunday afternoon.

Smid was playing in the final year of a two-year, $4.5 million contract that carried an annual average value of $2.25 against the salary cap. If the two sides were unable to come to terms on an extension, the Oilers were expected to move the 27-year-old defenseman before Wednesday’s trade deadline.

In Matheson’s report, Smid acknowledged that negotiations were going well and that he was looking to make between $3.5 million and $4 million per season. He stated that a five-year, $3.5 million deal would satisfy him, as he is looking to remain with the Oilers, via the Edmonton Journal:

“Negotiations are pretty good right now. We have three days left, and I’m really hopeful we’ll get a deal done. Obviously, we have to have something done by Wednesday. I would hate to be traded. We have a great thing going on now and I’d hate to leave.”

Smid currently ranks third amongst Oilers defensemen in average ice-time per game in the 2013 season, logging 20:12 over the span of 34 games. He also plays a key role on the team’s penalty kill, as he is averaging 3:08 per game, the second most among Edmonton defensemen.

• Kindl’s sweet backhand … on his own goal

• Printable bracket for March Madness

• Frozen Four set

• All the NHL trade rumors

• The best of our hockey network