Jacob Markstrom, Devils are evaluating a $12 million contract extension

The relationship between New Jersey Devils and goalkeeper Jacob Markstrom has been extended two more seasons after the current campaign, as it was recently announced that he had signed a two-year, $12 million contract. That means they will have a $6 million salary cap hit.

This is Markstrom’s second season with the Devils since acquiring him in a trade with the Calgary Flamesand helped lead them to a postseason berth earlier this spring.

Shortly after signing an extension and then taking over the Los Angeles Kings, Markstrom would explain that he felt the Devils they answer him and his family and that he is excited to continue representing the Devils.

“I mean, I feel like this is the best place to be, and it’s the best team I’ve been on,” Markstrom said Saturday before making 43 saves in a 4-1 win against the Los Angeles Kings. “So I’m very excited to continue this journey and see where we can go, and I think it’s a long way, and I want to be a part of it.”

“Obviously, to know where you’re going to be and to continue to play and continue to represent the New Jersey Devils,” Markstrom said. “… My family is excited and me personally, it’s nice to turn the page on this one and focus on playing hockey.”

Devils head coach Sheldon Keefe put his stamp on the deal, calling Markstrom an ideal competitor and also highlighting the chemistry between him and fellow goaltender Jake Allen, forming one of the strongest tandems in the NHL.

“(Markstrom has) been great on and off the ice. He’s a player. He’s a competitor,” Devils coach Sheldon Keefe said. “He and Jake Allen have a great partnership in the way they work together, so both guys are locked into such an important position and for ‘Marky’ to want to be here and continue with the group, it makes you feel good as a coach and now you can focus on hockey.”

The Devils acquired Jacob Markstrom before last season

Markstrom was originally drafted by the Florida Panthers, who made him the first pick of the second round (31st overall) in 2008. He would go on to play in his native Sweden for Brinas IF in the SEL, where he would have the league’s best goals against average and save percentage in 2009-10.

He later made the jump to North America after signing an entry-level contract with the Panthers, and split time between the Panthers and their former AHL affiliate, the San Antonio Rampage. Ironically, he would make his NHL debut against his future team, the Devils, at the Prudential Center in place of Scott Clemenson in January 2011.

After the Panthers signed former Conn Smithe Trophy-winning goaltender Tim Thomas prior to the 2013-14 season, Markstrom struggled to compete for playing time and mostly played in the AHL until he was traded along with Sean Mathias to the Vancouver Canucks in exchange for Roberto Luongo and Steven Anthony.

Markstrom went on to play the next few seasons of his NHL career with the Canucks, eventually being named to his first NHL All-Star Game in 2020.

Upon completion of his time with the Canucks, he would join their long-time rivals the Calgary Flames, signing a six-year, $36 million contract. He would make just one Stanley Cup Playoff appearance with the Flames in 2022, as they defeated the Dallas Stars in seven games in the first round, but were defeated by the Edmonton Oilers in the famous “Battle of Alberta” in five games.

In June 2024. the devils acquired markstrom in exchange for defenseman Kevin Bahl, as well as a 2025 first-round draft pick. The Flames agreed to retain 31.25% of his salary.

Markstrom posted a 26-16-6 record with a 2.50 goals-against average, .900 save percentage and four shutouts in 49 games for the Devils last season as they finished third overall in the Metropolitan Division standings.

New Jersey Devils Rating: B

This is a good deal for the Devils as it still gives them half of a solid goaltending tandem. Markstrom has shown throughout his career that he is capable of getting the job done.

Markstrom and Allen have formed one of the stronger tandems in the NHL, and the Devils are still viewed by many as a team on the rise. The presence of veterans in the network will only help further that goal. The only concern would be his durability and the fact that he’s not getting any younger at 35.

Jacob Markstrom Grade: A

For Markstrom, this deal works out perfectly as he gets two more seasons of security at a handsome salary of $6 million per season. Now that his contract is up, this time he can focus on hockey and helping the Devils advance further in the postseason.