The Flyers are close to re-signing veteran defenseman Kimmo Timonen to a one-year, $6 million contract extension, according to league sources.

An announcement is expected before the end of the week.

Timonen is in the final year of a six-year, $37.8 million contract which had a $6.33 million cap hit.

The new deal would obviously assure the soon-to-be 38-year-old remains the Flyers' highest-paid blueliner.

“We have had talks but nothing is in place,” general manager Paul Holmgren told CSNPhilly.com on Wednesday night.

Hockeybuzz.com reported that the deal is done and worth $6 million.