The Pittsburgh Penguins and GM Ray Shero have agreed to a five year extension, the team announced this morning. Shero will be under contract through the 2015-16 season.
Financial terms were not disclosed but it is believed that the deal will make Shero one of the highest paid GM’s in the league with a salary in the $2 million range.
A top priority this off-season for ownership has been to lock up Shero long-term and it’s a move that has been in the works for months.
Shero has not only helped make the Penguins a perennial Stanley Cup contender, he has played a big part in the Penguins evolving into a first class organization.
“In addition to his work with our on-ice product, Ray also has created a family atmosphere in our organization, where players know they will be treated very well,” said David Morehouse, the team’s CEO. “He is committed to having our players and coaches involved in the community and our charitable efforts, and helping to make the Penguins a positive asset to the Pittsburgh region.”