The Toronto Maple Leafs have tied captain Dion Phaneuf down to a new seven-year deal worth a reported $49million, reports ESPN.

The deal will see Phaneuf stay at the Air Canada Centre until the end of the 2020-21 campaign.

The 28-year-old defenseman, who joined the Toronto Maple Leafs in 2009 from the Calgary Flames, decided to commit his future to the NHL Eastern Conference side because he feels they are 'building something special'.

Toronto Maple Leafs general manager Dave Nonis also revealed his delight at Phaneuf signing a new long-term deal.

"If you look at his numbers since he was a rookie, they stack up very favorably with the top defensemen in the league," said Nonis

"He's a player that is getting better and a player we can build around to be a contender."

Phaneuf, whose side won the sixth annual classic against the Detroit Red Wings in front of 105,591 spectators, added that it was an easy decision for him to sign the multi-million pound contract.

The Toronto Maple Leafs skipper will be hoping his side can stretch their winning streak to four games when they take on the New York Rangers on Saturday.

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