Rangers, Igor Shesterkin agree to record-breaking 8-year contract extension
The New York Rangers made it official Saturday, announcing that they’ve agreed on an eight-year contract extension with star goalie Igor Shesterkin. The financial terms were not officially disclosed but the extension is worth $92 million, according to Puckpedia. That would make Shesterkin the highest-paid goalie in NHL history with an average annual value of $11.5 million.
The deal was first reported Friday, shortly after the Rangers traded captain Jacob Trouba to the Anaheim Ducks. General manager Chris Drury said Saturday the timing of the trade and contract agreement were not connected.
“They just kind of happened to come together at the same time, in the same week,” Drury told reporters. “There was no effort to have it done together, or have us move on from Jacob, and then now we could sign ‘Shesty.’”
It appeared all along that the each side wanted to get a deal done to keep the 28-year-old goalie in New York before becoming an unrestricted free agent next summer.
“I love the organization, I love the team, I love the fans,” Shesterkin said in September. “So, of course, it would be great to stay here. But you never know what can happen.”
Shesterkin reportedly turned down an eight-year, $88 million contract offer before the start of the season and could have become a free agent on July 1, 2025.
Related: What’s next for Rangers after Jacob Trouba trade
Shesterkin well worth being highest-paid goaltender in NHL
That’s something Drury was determined to avoid.
“Clearly with the contract we just signed him to, it speaks volumes of what I think of him as a goalie, as a player, as a person,” Drury said. “We’re lucky to have him. We’re excited that he wanted to make the commitment to be with the Rangers for eight years. We’re excited to be able to sign him up for that. We had no interest in seeing where the market went come July 1.
“As a lot of our players say, and certainly I can echo their sentiments, he’s one of our best players night in and night out and we’re thrilled he’s our goalie.”
Shesterkin, the Rangers’ fourth-round pick (No. 114) in the 2014 NHL Draft, excelled in the KHL before making the move from Russia to North America in the summer of 2019. He spent half of the 2019-20 season with Hartford in the American Hockey League before coming to the NHL. By 2020-21, he was the unquestioned No. 1 goalie, and in 2021-22 won the Vezina Trophy as the NHL’s top goaltender as well as finishing third in voting for the Hart Trophy as league MVP.
He got the Rangers as far as the Eastern Conference Final in 2022 and again last season — and was their best player each time.
The new deal comes during one of the few times in his career that Shesterkin has struggled — he is 9-9-1 with a 2.99 goals-against average and .908 save percentage after stopping 20 shots in a 4-2 victory against the Pittsburgh Penguins on Friday that ended a career-high five-game personal losing streak.
Many consider Shesterkin to be the best goalie in the world at the moment. Since he became a full-time starter in 2020-21, only Connor Hellebuyck of the Winnipeg Jets has more goals saved above expected. He’s also second to Hellebuyck in wins during that span, with two fewer victories in 27 fewer appearances.
It’s been in the playoffs where Shesterkin really earned his new deal. Since the Rangers returned to the postseason in 2021-22 , no goaltender has saved more goals above expected in the postseason. Shesterkin has been the biggest reason the Rangers have made the Eastern Conference Final in two of the past three seasons, going 23-20 in postseason games.
Drury knew heading into the season that re-signing his star goalie was a priority. He told reporters at the start of training camp, “We’re going to do everything we can to make sure he’s here for a long time.”
Potential risks of massive Igor Shesterkin contract
While Shesterkin has definitely earned this record-setting contract, that’s not to say there aren’t some risks associated with it. Shesterkin will turn 30 a few months after the contract kicks in next season, so the extension will take him until he’s 37.
That timeline is similar to when Carey Price signed his eight-year, $10.5 million AAV contract with the Montreal Canadiens in 2017, while he was regarded by many as the best goalie in the world. Though Price hasn’t played since 2022 because of injuries, his contract is still on the books — it lasts through the end of the 2025-26 season. Shesterkin doesn’t have the injury history Price did when he signed his contract — but if he were to get hurt, it has the potential to derail this contract.
Another cautionary tale would be that of fellow Russian Sergei Bobrovsky, who won the Vezina Trophy twice with the Columbus Blue Jackets before signing a seven-year, $70 million deal with the Florida Panthers on July 1, 2019.
There were times during the next few years that Bobrovsky’s contract looked like one of he worst in NHL history — “Bob” didn’t come close to replicating his Vezina form during his first four seasons in Florida. However, an excellent regular season in 2023-24 and a solid playoff performance that helped the Panthers win the Stanley Cup for the first time since entering the NHL in 1993 have made everyone forget that.
If the Rangers aren’t a contending team in a few years, this could be be a tough contract to move. But if things go according to plan, they’ve just locked up the world’s best goalie for years to come, giving them a lengthy championship window.
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