Penguins sign Malkin to five-year extension

NEW YORK (Reuters) - The Pittsburgh Penguins have signed Evgeni Malkin to a five-year contract extension, the NHL franchise said on Wednesday.

Malkin scored 47 goals and had 59 assists while playing all 82 games for the Eastern Conference champion Penguins.

"We are very excited to have Evgeni signed to a long-term contract," General Manager Ray Shero said on the team's Web site (penguins.nhl.com/)

"This signing continues to ensure the young core of this team can stay intact for years to come."

Malkin's extension will pay the 21-year-old centre $8.7 million annually over five years starting with the 2009-10 season, local media reported.

The Russian was a finalist for the Hart Trophy as the NHL's Most Valuable Player.

(Writing by Steve Ginsburg in Washington, Editing by Greg Stutchbury)