The New York Rangers and defenseman Brendan Smith are close to finalizing a four-year contract with an average annual value of $4.35 million, TSN's Bob McKenzie reports.

Smith, 28, had spent his entire career with the Detroit Red Wings until he was traded to the Rangers prior to the 2017 NHL trade deadline. In total, he played 51 games with nine points, a 49.7 Corsi For percentage while logging a career-high 19:15 minutes per game.

His reported contract is very similar to Kris Russell's four-year, $16-million deal he signed with the Oilers last week.

These two contracts will certainly lead to a large payday for some of the higher-regarded free-agent defensemen on the market, such as Kevin Shattenkirk, Karl Alzner, and Michael Stone.

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