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New York Rangers defenseman Adam Fox has agreed to a seven-year contract extension, the team announced. The new deal will pay the star defenseman $9.5 million per season, according to ESPN's Greg Wyshynski.

Fox was in the final year of his entry-level contract. The new $66.5 million contract is the largest in NHL history for a defenseman who was transitioning from an entry-level deal.

"We are thrilled that we have agreed to terms with Adam on a contract extension and that he will continue to play for the team he grew up cheering for," Rangers president and general manager Chris Drury said in a statement. "In just over two seasons, Adam has consistently shown why he is a cornerstone for our organization and one of the best players in the NHL. It has been a privilege for us, and our fans, to watch Adam showcase his ability on a nightly basis, and we are glad to have that opportunity for seven more years."

Fox, who is in his third NHL season, has accumulated 98 points (15 goals and 83 assists) during his time with the Rangers.

The 23-year-old is the reigning Norris Trophy winner, which is annually awarded to the league's top defenseman. Boston Bruins Hall of Famer Bobby Orr and Fox are the only defensemen in NHL history to win the Norris Trophy before their third season. Fox registered 47 points (five goals and 42 assists) while recording a +19 rating in 55 regular-season games a season ago.

Fox currently has nine points (two goals and seven assists) in nine games during the 2021-22 season.

With this hefty extension, Fox becomes just the latest star defenseman to receive a huge pay raise. Fox joins the likes of Zach Werenski of the Columbus Blue Jackets ($9.5 million), Charlie McAvoy of the Boston Bruins ($9.5 million) and Cale Makar of the Colorado Avalanche ($9 million) as some of the NHL's young defensemen who have signed new contracts in recent months.