Updated July 1 2:20 p.m

Washington has reportedly signed Richard Panik, 28, to a four-year $10 million contract worth an AAV of $2.5M according to TSN’s Bob McKenzie.

Sounds like Richard Panik will be heading to WSH on a four-year contract. AAV could be somewhere north of $2.5M. — Bob McKenzie (@TSNBobMcKenzie) July 1, 2019

The contract has been confirmed, but the terms have not been.

Can confirm @TSNBobMcKenzie report of Richard Panik expected to sign with Washington #Capitals. — John Wawrow (@john_wawrow) July 1, 2019

NBC Sports – Washington’s Brian McNally has reported that the AAV is not $2.5M but $3.65M instead.

Hearing it's a $3.65 million AAV for Richard Panik with #Caps. — Brian McNally (@bmcnally14) July 1, 2019

McNally then corrected his report.

Correcting the Richard Panik numbers, folks: It is $2.65 million AAV for four years. Was just going with what I was told by a source with direct knowledge. They have corrected. I'll own it. $2.65 million. #Caps — Brian McNally (@bmcnally14) July 1, 2019

The Capitals officially announced the signing at four years, $2.75M per year for a total of $11M.

Panik had 14 goals and 19 assists for 33 points in 75 games for Arizona last year. Panik has 75 goals, 84 assists for 159 points in 410 career games. Panik was drafted 52nd overall by Tampa in 2009.

According to hockey reference, Panik had a cross for percentage at 50.8 last season with a 49.8 zone start percentage. Meaning Panik started about half of his shifts in the offensive zone, and his team was still able to take just under 51 percent of the shots. @ChartingHockey has Panik at 1.706 points per 60

the moistening pic.twitter.com/BxMnadvyTQ — STANLEY CUP CHAMPION CHORNEY (@AWallace39) July 1, 2019

Panik is expected to be the third line right winger opposite of Carl Hagelin with Lars Eller in the middle.