The Arizona Coyotes are on the brink of signing franchise defenseman Oliver Ekman-Larsson to a monster deal, and it’s the right move.

Oliver Ekman-Larsson could be the next on the list of the highest paid defensemen in the NHL if he were to ink an eight-year extension with the Coyotes that is rumored to be worth around $8 million per season.

This would quickly put the Swede on the list of high-money defenders with the likes of P.K. Subban and Brent Burns, earning a combined $17 million average.

Despite Larsson’s contract expiration date being a couple of years from now, general manager John Chayka certainly won’t want to take the risk of letting his 26-year-old defender hit the free agent market as an unrestricted free agent.

It’s also the perfect timing for the Yotes to be taking the initiative to finalize this deal. A businessman in Chayka has done wonders with the Coyotes’ salary cap, which now displays $16 million in space — more than enough to get a deal done for Ekman-Larsson and bring in some other players.

More money could be added to the cap if the likes of Brad Richardson, Zac Rinaldo, Luke Schenn and Kevin Connauton all walk this summer. It will be the perfect scenario to replace the old veterans with young franchise talent.

Larsson has been a prodigy for Arizona ever since he was drafted sixth overall in the 2009 draft. The defender has played 79 of 82 games in six out of his eight playing seasons in the NHL.

For the amount he’s producing, the amount of games he is playing is absolutely brilliant. This past season alone, Larsson notched 14 goals and 28 assists which added to his career total of 102 goals and 188 assists.

The Swede’s PDO and Corsi numbers really speak for themselves, as both have contained years which resulted in numbers way over the league average. A possession player in Larsson who can hold the puck in when he’s on the ice is exactly what the Coyotes could use for the future.

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At the age of 26, Larsson is right in the middle of his prime and his best years could arguably be ahead of him. Chayka wants to build right around Larsson when he’s in prime mode, which is exactly why an eight-year deal would be genius.

The big drawback, if some consider this to be one, is that Ekman-Larsson had a minus-28 and minus-25 each of the past two seasons, respectively. Now, most know that plus/minus can be a pretty flawed stat, so we don’t know if those goals against were really his own fault.

Arizona has also been grasping for leadership roles ever since Shane Doan retired from the organization. This past campaign, the Coyotes contained a total of five different players including Larsson who alternated the “A” on a regular basis.

Maybe it would be the time for Rick Tocchet and the rest of the Arizona management to promote Larsson to captain status, especially since every other candidate is very unqualified compared to the Swedish defender.

Richardson could be gone soon, Derek Stepan and Niklas Hjalmarsson recently arrived to the club and Alex Goligoski really can’t compare which shouldn’t need an explanation.

The Coyotes have the potential to take huge strides in their rebuild over the next few years. A plethora of players like Max Domi and Clayton Keller are on cheap deals which is a big win considering how the two have performed at their young age.

Add Ekman-Larsson into the frame for the next eight years, and some silverware could finally end up in the rinks of the desert.

Would the rumored Ekman-Larsson contract be perfect for the Coyotes? Do you think he would still be worth it over the next eight years? Let us know in the comments section below!