Fedorov signs offer sheet with Carolina

Hurricanes roster

The 28-year old center signed a six-year, $38 million offer sheet with Carolina in Nagano, Japan he is playing for Russia in the Olympics. Fedorov is a restricted free agent which gives Detroit seven days to match the offer or accept five first-round draft picks in compensation.

Detroit has said in the past that they will match any offer to Fedorov. However, Carolina's offer includes $26 million in signing bonus and that miht force the Red Wings to think again.

Fedorov was clearly happy about ending his season-long holdout. "I am happy with that contract and to have the opportunity to go back and play in the NHL," Fedorov said.

The Hurricanes are last in the Northeast Division and seven points out of the last playoff spot.

Carolina general manager Jim Rutherford said aquiring Fedorov is more than a short-term investment.

"Having a player who is recognized like Sergei through his Nike commercial and winning the Stanley Cup is important t0 any franchise," he said. "The way we view the franchise is we invest in the franchise as long as it doesn't exceed what the franchise is worth ,that's when enough is enough. We still have quite a bit of room to move in that area."