After months of speculation regarding his future in Toronto, the Maple Leafs are in the final stages of inking forward William Nylander to a contract extension.

According to a Monday report from insider Elliotte Friedman, Nylander and the Leafs are closing in on a new deal. And as many expected, it's a pretty sizeable chunk of change.

Hearing Toronto and William Nylander closing 8x$11.5M extension. Full NMC all the way through.

— Elliotte Friedman (@FriedgeHNIC) January 8, 2024

Over the next eight years, the 27-year-old will reportedly receive a whopping $92 million, with an AAV of $11.5 million, making it the largest contract in Leafs history by total value.

In fact, this new contract would make Nylander the second-highest-paid player on the Leafs behind Auston Matthews' $13 million AAV that will come into effect next season.

It will also make Nylander the fourth active Leafs player on the roster to carry a cap hit over $10 million, joining Mitch Marner, John Tavares, and Matthews.

With 21 goals and 33 assists over 37 games this season, the Swedish winger is on pace for another career year. His most productive offensive campaign came in 2022-2023, when he netted a whopping 40 goals and 87 points.