NHL Free Agent News: Steven Stamkos Signs 5-Year Deal with Tampa Bay Lightning

JC De La TorreAnalyst IIIJuly 19, 2011

TAMPA, FL - MAY 03:  Steven Stamkos #91 of the Tampa Bay Lightning scores the game tying goal in the third period against the Washington Capitals in Game Three of the Eastern Conference Semifinals during the 2011 NHL Stanley Cup Playoffs at St Pete Times Forum on May 3, 2011 in Tampa, Florida. The Lightning defeated the Capitals 3-2.  (Photo by Bruce Bennett/Getty Images)
Bruce Bennett/Getty Images

The odyssey is finally over. The Tampa Bay Lightning have secured the services of superstar sniper Steven Stamkos for five years, according to a report by 620WDAE in Tampa.

Monetary terms of the deal have not yet been released; however, according to a tweet by hockey writer EJ Hradek, the terms are "five years, 37.5M. Cap hit: 7.5M. Year-by-year: 8M, 8M, 8M, 8M and 5.5M."

"Steven is extremely important to this franchise and is part of the foundation of our hockey team," Yzerman said in a statement released by the team. "We are very pleased to have him signed and look forward to seeing him in a Lightning uniform for years to come."

We'll have a full reaction including what it means to the Lightning, whether Tampa Bay is done with free agency and what the deal could mean for existing players on the team later this evening.