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Panthers sign Reilly Smith to five-year contract extension

New York Islanders v Florida Panthers - Game Five

SUNRISE, FL - APRIL 22: Reilly Smith #18 of the Florida Panthers prepares for a face-off against the New York Islanders during second period action in Game Five of the Eastern Conference First Round during the 2016 NHL Stanley Cup Playoffs at the BB&T Center on April 22, 2016 in Sunrise, Florida. The Islanders defeated the Panthers 2-1 in double overtime. (Photo by Joel Auerbach/Getty Images)

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The Florida Panthers remain busy this off-season.

Updated: The Panthers announced Sunday that they have signed forward Reilly Smith to a five-year contract extension.

Smith had 25 goals and 50 points in 82 regular season games, before four goals and eight points in the opening round of the post-season before Florida was eliminated. Smith, 25, was at the end of a two-year, $6.85 million deal, so this new deal comes with a substantial raise, plus term.

“Reilly was a key player for our team last season,” said Panthers GM Tom Rowe in a statement. “He is a valuable contributor to our offense and special teams and is an important part of our talented group of forwards.”

Yesterday, the Panthers signed free agent defenseman Jason Demers (read about it here and here) and re-signed forward Vincent Trocheck to a six-year contract (read about it here), which was officially announced Sunday.