Originally written on Fox Sports  |  Last updated 11/16/14

NEWARK, NJ - DECEMBER 18: Erik Karlsson #65 of the Ottawa Senators skates against the New Jersey Devils at the Prudential Center on December 18, 2009 in Newark, New Jersey. (Photo by Bruce Bennett/Getty Images)
The Ottawa Senators say they have agreed to terms with Norris Trophy finalist Erik Karlsson on a seven-year contract extension. The deal was announced by the team on Tuesday, one day before Karlsson will find out if he was picked as the NHL's top defenseman for the recently completed season. Karlsson will reportedly earn $45.5 million over the course of the new contract. The 22-year-old Karlsson, who could have become a restricted free agent this summer, led NHL defenseman last season with 78 points. The Norris Trophy and the remaining NHL awards will be presented Wednesday in Las Vegas. ''Erik is the type of player and person that embodies an Ottawa Senator,'' Senators owner Eugene Melnyk said in a statement. ''We feel strongly that this long-term commitment will be great for both sides. ''As one of the cornerstones of our franchise, Erik will be a large part of the future success that Senators fans can look forward to.'' Karlsson had 19 goals and 59 assists and was an NHL All...
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