Dylan Larkin contract details: Red Wings make long-term commitment to captain with eight-year extension

The Michigan Man is staying in Motor City, 

The Red Wings and captain Dylan Larkin have agreed to a contract extension. The center was going to be an unrestricted free agent this summer.

Larkin, 26, has been a staple in Michigan hockey for years. The native of Waterford, Mich. was drafted with the No. 15 pick by the Red Wings in 2014 before playing a year at the University of Michigan in 2014-15. 

HERE. TO. STAY. pic.twitter.com/MymEOFwHmd

— Detroit Red Wings (@DetroitRedWings) March 1, 2023

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This year, the speedy forward has 22 goals and 35 assists, good for 57 points in 59 games. Larkin has been a key part of the Red Wings' rebuild, and now, the team is in the middle of a tight Wild Card race in the Eastern Conference. 

Dylan Larkin contract details

• 8-year extension
• $8.7 million AAV
• Will become an unrestricted free agent in 2031

The deal carries a cap hit of $8.7 million a year. In total, Larkin will earn $69.6 million over the eight years. 

Larkin 8x$8.7M In Detroit

— Elliotte Friedman (@FriedgeHNIC) March 1, 2023

It will kick in next season and keep him under contract with Detroit until 2031 when he will be an unrestricted free agent. 

Larkin remains the highest-paid Red Wing on the roster. His current contract carries a cap hit of $6.1 million a year, which ranks first on the team in 2022-23. 

In comparison to other extensions recently handed out, Larkin's comes in a bit higher than Bo Horvat's eight-year, $68 million extension he signed with the Islanders. However, it's not as high as Mat Barzal's extension with the Islanders, eight years for $73.2 million.

Dylan Larkin career stats

This year, the speedy forward has 22 goals and 35 assists, good for 57 points in 59 games. Larkin is first on Detroit in goals, assists, points, power-play goals (11) and shots (185). His 19:30 average time on ice is first among all Red Wings forwards. 

Larkin is likely to threaten his previous career-high of 73 points, which he achieved in the 2018-19 season. If he continues at this pace, it will be the third season in which he finished with a points-per-game rate higher than 0.95.