May 28, 2013, 4:38 PM EST
The deal is of the one-way variety with Cole earning $750,000 next season and $900,000 in 2014-15, according to Jeremy Rutherford of the St. Louis Post-Dispatch.
Cole, 24, was St. Louis’ first-round selection (18th overall) at the 2007 NHL Entry Draft, and has appeared in 67 contests over three seasons with the Blues.
All told, Cole appeared in 15 games with St. Louis last season, scoring one point while averaging 17:45 TOI per game.
The former Notre Dame standout was in the final year of an entry-level deal that carried at $1.3 million annual cap hit ($875,000 base salary, the rest in signing and performance bonuses).
It’s interesting that Cole was one of the first defensemen St. Louis opted to lock up, especially with so many guys still to sign — Alex Pietrangelo, Kevin Shattenkirk and Kris Russell are all restricted free agents, while Leopold is unrestricted.
- Report: Salary cap ‘may be around’ $70 million next season 13
- TGIF: Five NHL games to watch this weekend 3
- Report: Laviolette a candidate to replace Capuano 19
- Sharks say Fleury was ‘shaky’ and ‘fighting it’ in 44-save victory 52
- Boychuk boarded by Pacioretty, taken off on stretcher (Update: has movement in extremities) 57
- Seguin (concussion) cleared to play tonight 0
- Bylsma: Sharks are NHL’s best, ‘with all due respect to Chicago’ 89
- Will the Rangers use a compliance buyout on Richards? 10
- Malkin (lower body) to miss tonight’s game versus Sharks 20
- Flyers’ Couturier: ‘We’re starting to believe in ourselves’ 60
- Bylsma: Sharks are NHL’s best, ‘with all due respect to Chicago’ (89)
- Flyers’ Couturier: ‘We’re starting to believe in ourselves’ (60)
- Boychuk boarded by Pacioretty, taken off on stretcher (Update: has movement in extremities) (57)
- Lehtonen shines, Roussel agitates as Stars beat ‘Hawks (53)
- Video: Canucks’ Bieksa fights Rangers’ Boyle, then kicks Boyle’s helmet (52)