The Tampa Bay Lightning are nearing a contract extension with forward Tanner Jeannot, according to NHL insider Elliotte Friedman. While the financial details are yet to be disclosed, Jeannot’s qualifying offer was just under $900K. With a salary arbitration hearing scheduled for July 24th, it is expected that the new deal will exceed the qualifying offer by more than double. A two-year term would provide Tampa Bay with an additional year of team control over Jeannot.

Despite not carrying a high price tag, the Lightning have a significant investment in Jeannot. The team acquired him from the Nashville Predators, parting with five draft picks (one in each of the first five rounds) and defenseman Cal Foote. Now, they are close to finalizing a new contract with the 26-year-old forward.