The Toronto Maple Leafs and leading scorer William Nylander are finalizing an eight-year contract extension with an average annual value of $11.5 million, reports Sportsnet's Elliotte Friedman.

The agreement will keep Nylander in Toronto through his age-35 season and reportedly include a full no-movement clause.

The cap hit will tie Nylander with Erik Karlsson as the fifth-highest paid player in league when the contract begins in 2024-25.

In terms of total value, it'll be the richest contract in Maple Leafs franchise history, surpassing John Tavares' seven-year, $77-million deal. Auston Matthews' cap hit on his extension beginning next season is an NHL-high $13.25 million, but it's only for four years.

The Maple Leafs will employ four of the 11 highest-paid players in the NHL next season, although Tavares and Mitch Marner ($10.9 million AAV) will be entering the final year of their deals.

Nylander is in the midst of a career season, registering 21 goals and 33 assists in 37 games. His 54 points are tied with Connor McDavid for fifth-most in the league. Nylander's best full campaign was 2022-23 when he tallied 40 goals and 47 assists in 82 contests.

The Swede's offensive underlying numbers are among the NHL's elite, although his defensive play is below average.

Despite the team's playoff failures, Nylander has arguably been the Leafs' most consistent postseason performer. He's recorded 14 goals and 15 assists in 30 playoff games over the last four years. For his career, he's produced 40 points in 50 postseason contests.

The Maple Leafs drafted Nylander eighth overall in 2014. His previous contract carried an AAV of $6.96 million.

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