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06/11/2012 07:47 EDT | Updated 08/11/2012 05:12 EDT

The Florida Panthers announced on Wednesday a multi-year extension for general manager Dale Tallon.

Financial details and length of the deal were not released by the club.

"This is a great opportunity to keep the franchise on the right path," Tallon said in a statement on the team's website. "We had a good season and I just want to build on this past season the next couple of years."

Tallon, 61, succeeded Randy Sexton as the club's general manager in 2010.

The Panthers underwent wholesale changes to their roster last summer but improved by 22 points, leading to the franchise's first playoff berth since 1999-00.

As a result, Tallon is a finalist for General Manager of the Year honours. The other finalists are Doug Armstrong of the St. Louis Blues and David Poile of the Nashville Predators.

The Panthers also have a pipeline of top prospects that ranks among the best in the NHL in the view of many hockey observers.

Tallon came to Florida from Chicago, where he spent the last five years of his front office tenure as GM. Among other moves, Tallon helped assemble the team's core group of forwards Jonathan Toews, Patrick Sharp, Marian Hossa and Patrick Kane through drafting, free agency and trades.

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