via TSN,

The Ottawa Senators have indicated they will make a significant announcement this morning and sources tell TSN centre Jason Spezza has been signed a multi-year contract extension. More details to follow.

update 11:38am, from Bob McKenzie of TSN,

Jason Spezza has a new seven-year contract extension worth $49 million with the Ottawa Senators.

Spezza will get $8 million in each of the first five years of the contract and $5 million and $4 million, respectively, in the final two years. The cap hit will be $7 million per year for the Senators.

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