The Canadian-based website didn’t say where it got the information. It said the deal would average about $9 million a year and is expected to be announced on July 1.
Crosby, 24, had one year left on a five-year, $43.5 million contract signed in 2007, TSN said.
He has battled concussions and neck injuries, playing 22 games last season with eight goals and 29 assists, according to the National Hockey League’s website.
Pat Brisson, Crosby’s agent, and Frank Buonomo, a Penguins’ spokesman, didn’t immediately respond to e-mails seeking comment on the report.
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