The Seattle Kraken signed forward Matty Beniers to a seven-year extension on Tuesday worth just under $50 million that locks in a cornerstone piece of the franchise's future.

Beniers, 21, was the Kraken's first-ever draft pick, No. 2 overall, when they entered the league as an expansion team in 2021. The center debuted late in that inaugural campaign after wrapping up a two-year stint at the University of Michigan, appearing in 10 NHL games with three goals and nine points. Beniers soared further from there in 2022-23, when his 24 goals and 57 points in 80 games earned Beniers a Calder Trophy as the league's top rookie.

To date Beniers, whose deal will carry an average annual value of $7.14 million, has collected 42 goals and 103 points in 167 games with Seattle.

"Matty has been a core part of our team since making his NHL debut, not only on the ice but in his commitment to our community and our fans," Kraken general manager Ron Francis said. "Signing Matty to a new contract was a top priority for our offseason, and we are excited to have it done. We're looking forward to seeing Matty take the next steps as a player and watching him contribute to many more memorable moments for our franchise."

The Kraken's investment in Beniers comes after a sophomore NHL season that was a step back from his electric freshman year. Beniers managed just 37 points in 77 games last season while working to fine-tune a 200-foot game that has helped turn the defensive-minded skater into a shutdown option for Seattle down the middle. The potential for Beniers to be a bona fide two-way player moving forward -- not to mention his playmaking ability off the rush -- is more than enough incentive for Seattle to reward him with a long-term deal now, while also taking advantage of the NHL's increasing salary cap (which goes up by $4.5 million to $88 million for the coming season).

Beniers' contract isn't all that's kept Francis busy this offseason. He also made the Kraken's first-ever coaching change, firing Dave Hakstol in April and bringing in Dan Bylsma the following month as a replacement. Relieving Hakstol came after the Kraken posted a 34-35-13 record last year, finishing fifth in the Pacific Division and failing to reach the playoffs for a second time in three years. Part of Seattle's problem last season was a lack of consistency on offense -- a previous strength that carried them to a multi-round playoff run in 2022-23 -- and the Kraken went on to finish 18th on the power play and 29th in both goals scored and shooting percentage.

Now Francis is betting on Bylsma -- and the evolution of young stars like Beniers -- to get Seattle back in the postseason picture this spring.