Setoguchi, Markov Get Three-Year Deals to Stay Put

The blockbuster news of the day is naturally Philadelphia dealing away their top players for the ability to sign goaltender Ilya Bryzgalov. But the San Jose Sharks and Montreal Canadiens were also busy in this pre-draft phase of the NHL offseason, tendering three-year deals to particular pending free agents.

The Sharks inked right wing Devin Setoguchi, who was set to become a restricted free agent on July 1, to a three-year deal worth $9 million. He will count as an annual $3 million cap hit, but will make $2.75 million next season, $3 million in 2012-13 and $3.25 million in 2013-14. Setoguchi earned $1.8 million on a one-year deal with the Sharks last season.

He is coming off a 22-goal campaign that saw him heat up in the second half of the season after leaving a bit to be desired in the early goings. He added an impressive sevel goals in the playoffs, including two overtime game winners. The Sharks would love to see the 24-year old put up more of a consistent effort over the course of an 82-game schedule. But what he is able to produce when on his game makes him worth the extension, which could even be deemed a nice little discount if he gets back to his 2008-09 form.

The Sharks now possess a payroll of $55,337,500, leaving them with just under $9 million in cap space to fill up the roster.

Montreal also dished out a three-year contract of their own. Despite racking up injuries that only allowed him to play a total of 52 games over the last two seasons, defenseman Andrei Markov decided to avoid unrestricted free agency and instead re-upped with the team he's played for his entire career for $17.25 million. He will see $5.75 million in each year of the deal, which is equal to what he made in each of the last four seasons and the annual cap hit against the Canadiens' payroll.

Drafted by Montreal in the sixth round (162nd overall), Markov has spent each of his 10 NHL seasons with the organization. Unfortunately, knee injuries have been a detriment to him and have caused the 32-year old, two-time All Star to miss all but seven games last season. He suffered a season-ending injury to his right one back on Nov. 13. Montreal is obviously hoping Markov can avoid the bad luck that has plagued him in the health department recently, as he brings a strong offensive presence from the blue line - especially on the power play - to their lineup. In his last "healthy" year in 2008-09, Markov potted 12 goals and 52 assists for 64 points in 78 games. He notched career-highs of 16 goals and 10 power play markers a season earlier.

The Canadiens still have just under $15 million left to play around with under the salary cap.