Tampa Bay has announced that former Rangers captain Ryan McDonagh has signed a seven-year contract extension that will pay him $6.75 million per-year starting in 19-20.
McDonagh is still under contract with a cap hit of $4.7 million.
In a statement, McDonagh said "I'm very excited to sign an extension that will keep me with the Lightning organization for the next eight season. Since being traded to Tampa Bay earlier this year, my experience with the city, my teammates and the fans has been nothing short of world-class. My family and I are very excited to continue to play and live in Tampa with the ultimate goal of helping to bring the organization its second Stanley Cup."