Report: Flyers hand Claude Giroux eight-year, $66.2M extension

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The Philadelphia Flyers locked up their captain and the face of their franchise on Thursday, agreeing to an eight-year, $66.2 million contract with Claude Giroux, according to CSNPhilly.com’s Tim Panaccio.

That means the Flyers will see one of the NHL’s greatest bargain cap hits in 2013-14 ($3.75 million) mushroom to $8.275 million beginning in 2014-15. ESPN’s Pierre LeBrun reports that the contract includes a full no-movement clause.

Update: the deal isn’t officially wrapped up yet. GM Paul Holmgren says it’s close, however, and could be finalized on Friday or Saturday, according to the Philadelphia Inquirer’s Sam Carchidi.

With Giroux’s new deal factored in, Cap Geek estimates that the Flyers will have $51.82 million in cap space devoted to 14 players in 2014-15.

Still, this is the price of doing business, especially when you consider the fact that head coach Peter Laviolette called the 25-year-old star “the best player in the world.”