The Florida Panthers have signed defenseman Michael Matheson to an eight-year contract extension worth $39 million, according to TSN's Bob McKenzie.

Matheson will play out the final season of his entry-level contract in 2017-18 before the extension kicks in.

The 23-year-old blue liner only has one full season under his belt, but it's quite clear the Panthers are willing to commit long-term to his upside. In 81 games last season, Matheson notched 17 points and ranked third on Florida's roster in ice time, averaging 21:03 per night.

With Matheson signed, the Panthers now have five players 25-years-old or younger under contract until 2022, per Cap Friendly.

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