Holtby requested $8 million in arbitration, but the Capitals had offered him $5.1 million, according to Tim Wharnsby of CBC Sports. The goalie earned $2 million in 2014–15, with a $1.85 million cap hit.
Sportsnets' Elliotte Friedman reports that Holtby will earn $3.5 million next season with a $3 million bonus before earning $7 million for two years and $5 million for the final two years of the contract.
“Braden emerged as a top NHL goaltender and we are pleased to sign him to a long-term contract,” general manager Brian MacLellan said in a statement. “We feel Braden is just entering his prime and in his young career has already established himself as one of the best goaltenders in the history of our franchise. He is an athletic goaltender with a tremendous work ethic and is a big part of our future.”
An arbitration hearing for Holtby was held on Thursday in Toronto, and the ruling was to come within 48 hours of the hearing.
Holtby, 25, started 72 games for Washington last season, recording an NHL-leading 1,887 saves. He had a .923 save percentage and a 2.22 goals against average and was 41–20–10.
In the 2014–15 playoffs, Holtby led all goalies with a .944 save percentage and 1.71 goals against average in 13 games. He he has the highest career playoff save percentage of any active goalie (minimum 20 games played) at .936.