Bruins fans woke up Thursday morning to rumors that the Bruins were close to a contract extension with General Manager Peter Chiarelli. Later on Thursday the Bruins confirmed exactly what we had all heard as the team announced they have extended the contract of Chiarelli for four more years.

Chiarelli still has one more season left on his current deal. This extension will kick in at the conclusion of the 2013-14 season.

Bruins Principal Charlie Jacobs, President Cam Neely and Chiarelli will hold a press conference on Friday, August 30 in Legends at the TD Garden at 10:00 a.m.

This coming season will mark Chiarelli’s eighth with the Bruins. In Chiarelli’s seven seasons as Bruins General Manager the club has qualified for the postseason six times. The team has appeared in two Stanley Cup Final’s under Chiarelli including 2011 where the team captured its first Stanley Cup in 39 years.

Chiarelli has done an excellent job building the Bruins into the team they are today as one of the leagues best. Trades have been where Chiarelli has excelled the most.

Dennis Seidenberg, Matt Bartkowski, Chris Kelly, Nathan Horton and Gregory Campbell are just a few of the names that Chiarelli has brought in via trade to help bring a Stanley Cup to Boston and build the future of the team.

During the 2008-09 season in which the Bruins finished the year with 116 points, Chiarelli was named NHL Executive of the Year by the Sporting News.

Chiarelli is also serving as a member of the management team for Team Canada for the 2014 Winter Olympic Games in Sochi, Russia.

Check back with Bruins Daily tomorrow for more on the Chiarelli press conference.