Devils Sign Veteran Goalie to Two-Year Extension

After a successful start to the season, the New Jersey Devils have locked up veteran goalie Jacob Markstrom to a $12 million, two-year contract extension. The deal carries an average annual value (AAV) of $6 million.

Enjoying a Swede treat on this fine Halloween evening.

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— New Jersey Devils (@NJDevils) November 1, 2025

Markstrom was set to become an unrestricted free agent following the season, but this contract extension keeps him in New Jersey while the team looks to take advantage of a championship window.

The 35-year-old netminder is in his second season with the Devils after being acquired from the Calgary Flames in 2024. He appeared in 49 games last year and had a 2.50 goals-against average (GAA). His .900 save percentage was the exact league average for the 2024-25 campaign, and it put him on par with goalies such as Jordan Binnington and Cam Talbot.

Markstrom’s Off to a Slow Start

Through four games to start the season, Markstrom’s performance has left plenty to be desired. His 5.13 goals-against average and .830 save percentage rank among the worst in the NHL. Still, New Jersey has gone 2-2 in his appearances, though he left one of those games early with an injury that sidelined him for a couple of weeks. In his return to the crease a few days ago against the Colorado Avalanche, Markstrom surrendered eight goals on 42 shots in an 8-4 loss.

The timing and size of the deal are puzzling given Markstrom’s struggles. In lieu of his absence due to the injury, Jake Allen has been backstopping the Devils to an 8-3 start that has them sitting second in the Metropolitan Division, trailing only the resurgent and surprising Pittsburgh Penguins.

It’s clear Devils general manager Tom Fitzgerald is banking on Markstrom’s track record as a proven NHL goaltender. If Markstrom can rediscover his form and New Jersey can roll with two above-average goalies into another postseason run, this could end up being money well spent. But if the gamble doesn’t pay off and Markstrom keeps faltering, then the cash committed to him might as well have been tossed straight into the metaphorical garbage can.

Apr 25, 2025; Newark, New Jersey, USA; New Jersey Devils goaltender Jacob Markstrom (25) makes a save against the Carolina Hurricanes during the first period in game three of the first round of the 2025 Stanley Cup Playoffs at Prudential Center. Mandatory Credit: Ed Mulholland-Imagn Images | Ed Mulholland-Imagn Images

The Devils Are Ready to Win Now

New Jersey head coach Sheldon Keefe led the team back to the Stanley Cup Playoffs last year, and with the impressive beginning to this season, it appears that the Devils could be headed in that direction yet again.

Jack Hughes, the 24-year-old star who’s continued to set the world on fire time and time again throughout his young career, has been the catalyst for the success as he’s already recorded nine goals and put up 15 total points. In fact, it’s been Hughes’ scoring, as well as many others on the roster, that’s helped lead the Devils to their hot start. New Jersey’s scoring 3.73 goals per game, which has helped them win some high-scoring games — it’s allowing 3.18 per contest, which is 11th worst in the league.

All told, Markstrom hasn’t been the reason for the Devils’ winning to begin the year, but if he can turn it around — and if the team can keep the pedal to the metal offensively — then there’s no telling where this journey could end up for the folks from Newark.

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