The New York Rangers are set to announce that the club has signed goaltender Henrik Lundqvist to a contract extension, according to TSN Hockey Insider Darren Dreger.

Sources tell TSN that it could be a seven-year deal worth at least $8 million a season.

Lundqvist, 31, is 8-11 this season with a 2.51 goals-against average and a .917 save percentage.

The Swedish netminder in the final season of his six-year, $41.25 million contract and was set to become an unrestricted free agent next summer.