Money Badger: Turris Signs $17.5 Million Dollar Extension

It looks like there won't be any Kyle Turris hold-out drama this season.

The Ottawa Senators announced today that they have signed the former Badger to a five-year contract extension that will keep him in the capitol city through the 2018 season.

The deal is worth $17.5 million dollars with an average annual cap hit of $3.5 million. Turris will make $1.6M this season in the final year of his old contract. After that, he'll make $2.5M in 2013-14, followed by $3.5M, $3.5M, $4M and $4M according to Chris Johnston.

Turris made headlines last season when as a restricted free agent, he couldn't come to terms with his current team—the Phoenix Coyotes. Turris held out, refusing to report to Phoenix for the start of the season.

Rumors of absurd contract demands from Turris were bandied about, but we later learned that Turris and his agent Kurt Overhardt had requested a trade out of Phoenix.

Turris was granted his wish last December, as the Coyotes traded him to Ottawa for David Rundblad and a second round pick.

The former Badger thrived with the Senators last season, recording career highs in goals (12), assists (17), and points (29) despite playing in just 49 games.

Turris is expected to be a big part of the future in Ottawa as they continue to rebuild the club. Management for the Senators consider Turris to be a top-two centerman, and he's now the fourth highest paid forward on the roster.

The third overall pick in the 2007 NHL draft, Turris played just one season for the Badgers. In his only year in Madison, Turris led the Badgers in scoring with 35 points in 36 games.

The trade to Ottawa was important for Turris' psyche. The move gave Turis more minutes, and an expanded offensive role. Knowing that he's financially secure for the next six season certainly won't hurt either.

Join the Badger conversation on Facebook! Go to our Facebook page and "like" us!

For more Wisconsin coverage, follow Andy on Twitter (@AndyJohnsonB5Q)