Point, who will be a restricted free agent once the deal expires, will reportedly earn $9 million in the contract's third year, according to The Athletic's Pierre LeBrun. That ensures he'll receive a qualifying offer of no less than that amount prior to a potential fourth year if the sides haven't already negotiated a new pact.
Reports earlier in September suggested that Point and the Lightning remained far apart in negotiations, but with training camp in full swing and the regular season beginning next week, the two sides made a strong effort to complete a new agreement.
Point totaled a career-high 41 goals and 92 points in 79 contests in 2018-19, the final year of his entry-level deal, and finished third on the Lightning in scoring.
Several other prized restricted free agents inked bridge deals with their respective clubs this summer. Defensemen Zach Werenski (Columbus Blue Jackets) and Charlie McAvoy (Boston Bruins) and Vancouver Canucks forward Brock Boeser each signed three-year contracts.
Tampa Bay holds $1.76 million in projected cap space with a full active roster heading into the 2019-20 season, according to CapFriendly.