The Nashville Predators announced on Tuesday afternoon they have matched the 14-year, $110 million contract offered to defenseman Shea Weber by the Philadelphia Flyers last week.
Officials said the decision to enter into the largest contract in franchise history ensures Weber would remain with the Predators for the next 14 years.
The decision was made by all parts of the organization including ownership, hockey operations and business operations.
A news conference is scheduled to be held on Wednesday beginning at 1 p.m. at the Bridgestone Arena.
There will be no further comment from the Predators until Wednesday's media conference.
"I think what Shea wanted in the end, [what] he always wanted was the commitment from ownership and he got that," agent Jarrett Bousquet said. "He's happy in Nashville. He likes it, so Shea is looking forward to going back to work."
Weber has been a Predator for the last seven seasons and made $7.5 million last year.