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 on Wednesday night. reported that the deal is done and worth $6 million.

A number of Flyer personnel said they would welcome back Timonen and feel that the lockout has given him an extra year of playing time.

Timonen got a phone call on Wednesday from his agent, Bill Zito, about his contract terms, according to sources. Zito did not return calls.

He originally signed with the Flyers in 2007 after a trade from Nashville that also brought along Scott Hartnell.

During his tenure as a Flyer, Timonen has been named the Barry Ashbee Trophy winner three times as the club’s best defensemen. He averages almost 23 minutes ice time a game.

Timonen, who will play his 1,000th career game this season, led all Flyer defensemen last season with 43 points. His career average with the Flyers is 41 points. This season, he has one goal and four assists for five points in 10 games.