The deal includes a $2 million signing bonus, but does not include an out clause should the franchise move from Phoenix. Such a clause was not permitted by the league's expiring collective bargaining agreement.

"We are thrilled to sign Shane to a long-term contract," said Coyotes GM Don Maloney in a press release. "Shane is our captain and the heart and soul of our franchise. He is the consummate professional and one of the best leaders in the NHL. His loyalty, commitment, integrity and passion for the game epitomize everything you'd want in a player. It was a priority for us to sign him to a long-term deal so that he can play for the Coyotes for the remainder of his career."

Doan had set a deadline for signing a new contract by 2:00 p.m. Phoenix time Friday, as the league's CBA expires at midnight Saturday evening.

"I'm extremely excited about remaining a Coyote," Doan said in the release. "I was drafted by this organization and it means a great deal to me to be able to play with the same franchise my entire career. I'm very excited about our team, our coaching staff and our management, and am confident about our future in Arizona. Last year's playoff run was incredible and was one of the main reasons why I decided to stay with the Coyotes. I am committed to winning here, not anywhere else and I love living and playing in the Valley. This is my home and this is my team."

Gambadoro had reported earlier that the deal with Phoenix was contingent on the sale of the Coyotes franchise to Greg Jamison, although the contract has been faxed to the league office in New York despite the fact that the sale is not complete.

Doan has spent his entire career with the Coyotes organization, moving with the team from Winnipeg in 1996 as a 20-year-old youngster.

His 1,198 games played is the most in franchise history, and he's served as the Coyotes' captain since 2003.