The Leafs have re-signed Ilya Mikheyev to a two-year, $3.29 million deal

Less than 24 hours removed from their scheduled arbitration hearing, @Ilya Mikheyev and the Leafs agreed to an extension.

His agent, Dan Milstein, first broke the news on Twitter with a photo of a young Mikheyev. According to Pierre LeBrun, he will be making around $1 million during the first season and $2 million in the second year of the deal.

The terms of the deal were reflective of the arbitration rules, given that players heading for a hearing usually get no more than two-year contracts. It’s at a cap hit they are happy with and, most importantly, he will be exempt from the Seattle Kraken expansion draft next year.

While Mikheyev was limited to only 39 games last season, he was very productive until a wrist injury prematurely ended his rookie campaign. He recorded eight goals, 15 assists, and 23 points while going scoreless in five playoff games against the Blue Jackets.

With Mikheyev’s contract taken care of, the focus now shifts to @Travis Dermott who is the last notable Leaf without a new contract. The new influx of cap hit is going to result in a trade in the coming weeks (@Justin Holl or @Pierre Engvall perhaps?).