from Chris Johnston of Sportsnet,

Jason Demers has reached agreement on a $22.5-million, five-year contract with the Florida Panthers, Sportsnet has learned.

The right-shooting defenceman was a highly coveted commodity on the free-agent market and garnered multiple offers when the signing period opened Friday. Florida is believed to have entered the process somewhat late after the first wave of deals passed without him agreeing to one.

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