TORONTO (AP) -Mats Sundin agreed Tuesday to a $5.5 million, one-year contract with the Toronto Maple Leafs.
The 36-year-old Swede, Toronto's captain, had 76 points (27 goals, 49 assists) in 75 games with the Leafs last season while earning $7.6 million.
Leafs GM John Ferguson and Sundin's agent J.P. Barry had been in talks for over a month. What originally had begun as a two-year extension ended up being a one-year deal that includes a no-trade clause
"There's some ability there for us to save some money against the cap and use that to surround him with better players, to maximize the available (cap) space and to use it most productively," Ferguson said.
The Leafs were facing a Friday deadline to either exercise or decline a $4.56 million option Sundin had on his old contract.
Sundin has been with the Leafs since the lockout-shortened 1994-95 season and has never had fewer than 72 points in any of the 11 seasons since 1995-96.
Although the Leafs missed the playoffs this year, the veteran center reiterated his wish to remain in Toronto, where he hopes to finally bring home a Stanley Cup to a city that hasn't won it in 40 years.