"After the reports came down yesterday about how Tyler Myers was working on a contract extension with the Buffalo Sabres, it shows that sometimes there's truth to a report.

The Sabres announced today that Myers has agreed to a seven year contract extension with the 6'8? 21 year-old defenseman. With Myers heading into his third season in the NHL, and the final year on his entry level contract, he was due to become a restricted free agent at the end of the season. Rather than waiting until then, and perhaps after seeing some of the difficulties other teams have had in getting guys re-signed this summer, the Sabres moved quickly this summer to get Myers a new deal.

Myers' contract will pay him $38.5 million over the seven years, good for a $5.5 million cap hit over that time. The Sabres' salary cap situation heading into next season will be a juicy one as, according to CapGeek.com, the Sabres will have over $55.5 million in cap commitments for next year with just 16 players under contract. Pegulamania continues to run wild in Buffalo even with a new Collective Bargaining Agreement still to be worked out after this season as owner Terry Pegula continues to show his dedication (and his money) to the players."