PITTSBURGH -- Turnabout could be fair play for the Pittsburgh Penguins if a published report turns out to be true -- but international hockey officials are skeptical.

According to the Toronto Star, teams in Russia's newly revamped Continental Hockey League are preparing to throw a multiyear, tax-free deal at Evgeni Malkin worth at least $12.5 million per season in U.S. money.

The 21-year-old superstar is under contract to the Pens for one more year. General manager Ray Shero has been trying to decide whether to sign him to an extension or explore trade offers.

The following statement was released early Friday afternoon by International Ice Hockey Federation president Rene Fasel:

"Although there will be no imminent Player Transfer Agreement between the IIHF and the NHL, all involved parties are in principal agreement to honor each other's contracts. The NHL has informed the IIHF that this will be the policy of the league during the period without a PTA, and conversely, the IIHF has obligated its member national federations and leagues to do the same in its relations with the NHL.

"We would view any signing, from either side, of a player under a valid contract, who does not have any legally valid out-clause, to be a clear violation of the mutual understanding and existing principle. It would potentially be punishable with suspended national team eligibility and suspension from all competition or activity organized by the IIHF or any IIHF member national association. This would include events like the Olympic Winter Games, the IIHF World Championship or international club competitions like the Champions Hockey League."

The IIHL is hockey's worldwide governing body, although it has little influence in North America, where the NHL is dominant.

The Pens have not commented yet on the Toronto Star's report.

Malkin came to the Pens in 2006, shortly after signing a new contract with the Metallurg Magnitogorsk hockey club in Russia. He snuck away from his team during training camp in Finland, and his whereabouts remained secret for about a week until he surfaced in Los Angeles and made his way to Pittsburgh.

A lawsuit by Malkin's old Russian team claimed tampering and interference on the part of the NHL and the Penguins, but the legal effort to stop him from playing in Pittsburgh was unsuccessful.

At the time, the NHL said it believed any player should have the right to choose where he wants to play as long as he is legally free to do so. Malkin's representatives cited a Russian labor law permitting someone to leave a job by giving two weeks notice.

Malkin finished second in the NHL in scoring with 106 points last season. He was one of three finalists for the Hart Trophy, given to the National Hockey League's most valuable player.

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