The San Jose Sharks and pending unrestricted free agent Evander Kane are working toward a seven-year contract extension, sources indicated to TSN's Pierre LeBrun.
The deal is expected to carry an annual cap hit of $7 million, adds TSN's Bob McKenzie.
The Sharks acquired Kane from the Buffalo Sabres at this year's trade deadline, parting with forward prospect Danny O'Regan and two conditional draft choices, including a conditional second-round pick in 2019. Should Kane re-sign with the Sharks, that selection will be upgraded to San Jose's first-rounder.
Kane tallied 14 points in 17 regular-season contests with the Sharks before adding another five points in nine playoff appearances.
The potential seven-year, $49-million pact is in line with several other wingers league-wide, including Buffalo's Kyle Okposo (seven years, $42 million) and Bobby Ryan (seven years, $50.75 million) of the Ottawa Senators.