The left wing will play out the final season of his entry-level contract this season. The extension goes into effect at the start of the 2013-14 season and runs through 2020-21. Financial terms of the deal were not released, but Sportsnet reported the total value to be $39 million.
"Gabe is and will continue to be a large part of the foundation of this hockey team for many years to come," said Joe Sakic, executive vice president of hockey operations. “Signing our captain to a long-term extension demonstrates the commitment of [owners] Stan and Josh Kroenke to this franchise and to our fan base. In just two seasons, Gabe has already proven to be a great asset to our organization both on and off the ice. The fact that he has agreed to a long-term deal shows that he believes in this team, his teammates and the direction of this franchise moving forward."