The signing is a welcome site for all Coyotes fans as the franchise's cornerstones of success, Don Maloney and Dave Tippett, will stay united for many years to come.
The deal, as reported by Sportsnet's Nick Kypreos and echoed by Fox Sports Arizona's Craig Morgan and The Arizona Repblic's Sarah McLellan, should be similar to Alain Vigneault's deal of 5-years, $10 million.
"I am thrilled to stay with the Coyotes. (Maloney) has done a very good job of assembling a great staff and group of players here and I like the direction we are headed. We've started to build a strong foundation and we are both looking forward to continuing to build a winning team here in the Valley and taking the next step as a first class organization, Tippett said in statement released by the team.
The deal comes just in time for the NHL Draft on June 30 and the opening of free agency on July 5. His current contract was set to expire on draft day, June 30.
Tippett succeeded Wayne Gretzky as head coach of the Coyotes in September 2009. In his first season with the team, he led the Yotes to their first playoff appearance since the 2001-2002 season with a record of 50-25-7 (107 points).
During his four years in the Desert, Tippett coached the Coyotes to a winning record of 156-96-42.
The most memorable moment in his coaching tenure thus far was the successes of the 2011-2012 season which saw the Coyotes claim their first ever Pacific Division championship, their first playoff series win and their first appearance in the Western Conference Final.
Noted for his defensive style of coaching, the 51-year-old has built Phoenix into a contender through a system of accountability and positioning in the defensive end.