Hurricanes sign Teravainen to a five-year, $27 million extension

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The Carolina Hurricanes don’t have many forwards under contract next season, but they managed to secure one more on Monday, as they signed Teuvo Teravainen to a five-year, $27 million contract extension ($5.4 million AAV).

The 24-year-old is currently second on the team in points, with 39. He also finished second on the team in scoring last year, when he amassed 64 points in 82 games.

“Teuvo has improved every year of his NHL career and has established himself as a cornerstone forward for the Hurricanes now and into the future,” president and general manager Don Waddell said in a release. “He has shown that he is capable of adapting and expanding his role with our team, becoming a key penalty killer for Rod this season. He’s still just 24 years old and we believe he will only continue to grow as a player.”

Teravainen was set to become a restricted free agent at the end of the season.

This signing is a no-brainer for the Hurricanes, especially because Teravainen has been productive and they’re lacking it the scoring department. He’s improved his point production in each of the last three seasons and he’s on pace to surpass last year’s point total, too.

The ‘Canes now have Teravainen, Nino Niederreiter, Andrei Svechnikov, Warren Foegele and Lucas Wallmark as forwards under contract next season.

Carolina will now turn their attention to Micheal Ferland, who is eligible to become an unrestricted free agent on July 1st. Ferland is reportedly looking for a long-term deal that would pay him $6 million per season. Even though he hasn’t been as productive as Teravainen, Ferland has more leverage because he’s eligible to hit the open market.

Joey Alfieri is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @joeyalfieri.