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Star forward William Nylander has signed an eight-year, $92-million contract extension with the Toronto Maple Leafs, according to an announcement from the team. Nylander's new deal will carry an average-annual-value of $11.5 million.

Nylander was slated to be an unrestricted free agent following the 2023-24 as he was in the last year of a six-year, $45 million contract that he signed back in 2018. As a result of the new contract, Nylander will now have the second-highest cap hit in the NHL behind only Colorado Avalanche star Nathan MacKinnon, who carries a $12.6 million annual cap hit.

Following Saturday's 4-1 win against the San Jose Sharks, Nylander expressed his desire to remain with the Maple Leafs beyond this season.

"That would be a dream to stay here. I mean, to play for such an organization. And I call Toronto home. So I think that'd be a very special feeling," Nylander said.

Now the Maple Leafs have Nylander and Auston Matthews signed through the 2027-28 season after Matthew inked a four-year, $53 million contract extension in August.

The Maple Leafs originally selected Nylander with the No. 8 pick in the 2014 NHL Draft. During his nine-year career with the team, the Swedish forward has racked up 484 points (198 goals & 286 assists), while producing back-to-back 80-point seasons in 2021-22 and 2022-23.

Nylander currently has 54 points (21 goals & 33 assists) in 37 games during the 2023-24 season. Nylander began the 2023-24 campaign with a 17-game point streak and has registered four goals over his last three games. 

He's currently tied for fourth in the league in points (54) along with Edmonton Oilers standout Connor McDavid.