The Calgary Flames have called a news conference tonight and sources tell TSN it is to announce a long-term contract extension for Calgary netminder Miikka Kiprusoff.

“The Calgary Flames ownership group has made a huge commitment to Miikka and we expect him to be a major contributor to the success of our organization for years to come,” said Flames General Manager Darryl Sutter in a press releas. “With today's announcement, we have some key players under long term contracts and we look forward to that group leading us to the next level.”

Sources add that the deal is worth approximately $35 million for six years - or an average annual cap hit for the Flames of about $5.8 million per year beyond this season - and that it's heavily weighted in the early years of the contract. On top of that, Kiprusoff could retire after the fifth year and it wouldn't cost him significant dollars.

Kiprusoff is actually earning $3.6 million this season, although the Flames' cap hit is $3.33 million.

“I would like to thank the Calgary Flames owners for making this long term commitment to me and my family so we can remain in this city and be part of this organization,” said Kiprusoff in a release. “I look forward to the responsibility and challenge that comes with this contract. Calgary is a loyal hockey community that expects and deserves the very best from its home team.”

In 244 career NHL games with Calgary and the Sharks, Kiprusoff has a 125-78-30 record, 2.31 GAA and 24 shutouts. The 31-year-old was acquired in 2004 from San Jose and quickly established himself as the team's No. 1 netminder.

He backstopped the Flames to the 2004 Stanley Cup final, posting a 15-11 record with a 1.85 goals-against average in 26 playoff games.

His best regular season to date came in 2005-06, when he posted a 42-20-11 record with a 2.07 goals-against average and .923 save percentage and won the Jennings and Vezina trophies.

Kiprusoff has a 5-3 record this season with a 3.15 goals-against average.