After losing Marian Hossa to Detroit, the Pittsburgh Penguins signed Evgeni Malkin to a five year extension, a five year deal for $8.7 million a year, according to TSN.  The contract is similar to Sidney Crosby's deal.

The Penguins lost out on Hossa to free agency, but retained the better player.  Hossa is a 30 year old star winger, while Malkin is a 22 year old superstar center.  Malkin was set to become a restricted free agent next year, and locking him up now gives the Penguins an idea of their finances for the next few years.  Crosby and Malkin both gave thePenguins a discount, which could open the doors for the Penguins to be active in the free agent market in an attempt to replace Hossa and Ryan Malone.

There were rumors floating around during the off-season that the Penguins would deal Malkin to afford to keep the rest of their team together.  That proved to be untrue, as the Penguins traded the rights to Malone and Gary Roberts, then saw Hossa walk earlier today.  By resigning Malkin, the Penguins hold the rights to two of the top players in the NHL through the 2013 season.

So far the Penguins have lost Marian Hossa and Ty Conklin, and now following the extension of Malkin, Jarkko Ruutu has signed with the Ottawa Senators.  Ruutu signed a three year, $3.9 million deal.  The Penguins have now lost two enforcers in Ruutu and Roberts, making the signing of Georges Laraque critical for the protection of their two superstar centers.