Jesper Wallstedt’s next contract is starting to come into focus, and the Minnesota Wild are the ones who have to decide how far they want to go.
Wallstedt is in the final year of his deal and carries a $2.2 million cap hit. Minnesota already committed big money to Filip Gustavsson, who signed a five-year, $34 million extension with a $6.8 million AAV. That leaves the Wild paying two goalies $9 million right now, and the larger question is whether they really want to push that number much higher.
That’s the kind of decision NHL teams are trying to avoid. Even with the cap climbing, plenty of clubs do not want to sink $15 million to $18 million into two goalies.
The Boston Bruins are the clearest example. They had the league’s best tandem with Jeremy Swayman and Linus Ullmark, but management wasn’t willing to keep paying both at that level.
Ullmark was at $5 million and Swayman was making a little under $4 million before his raise, and Swayman eventually reset the market with an eight-year, $66 million contract carrying an $8.25 million cap hit.
From there, the dominoes kept falling. Ullmark also needed a new deal, so Boston moved on from him and made Swayman its No.
- Since then, goalie contracts have settled into a wide range: Dustin Wolf at $7.5 million AAV, Lukas Dostal at $6.5 million, Thatcher Demko at $8.5 million, Linus Ullmark in Ottawa at $8.25 million, Jake Oettinger at $8.25 million, and Gustavsson at $6.8 million.
Some teams have stayed more cautious. The Capitals gave Logan Thompson a $5.85 million AAV, while the Blackhawks did the same type of business with Spencer Knight at $5.833 million AAV.
And this is where Minnesota has to tread carefully, because long-term goalie deals can backfire fast. The old five-by-five model - or even three years at $5 million per season, like the Cal Peterson deal that hurt the Kings - has a way of coming back to bite teams.
Wallstedt’s case is strong enough to force the issue. He has a career record of 25-13-7, a 2.63 GAA, a .912 save percentage and five shutouts.
This season, he is at 5-1-1 with a 2.13 GAA and a .920 save percentage. That production puts him in the range of top goalies around the league, somewhere near Juuse Saros’ $7.74 million and Connor Hellebuyck’s $8.5 million AAV.
And while Andrei Vasilevskiy’s $9.5 million AAV is probably a stretch, it is at least part of the conversation.
The bigger issue for Minnesota is how it wants to define the position. Goaltenders are often treated like running backs in the NFL when they should be treated like quarterbacks, but the problem is the role can be unpredictable. Even then, Wallstedt is doing enough to make the Wild view him as the No. 1 guy.
There is still a real chance the number lands in the $8 million to $9 million range on his next deal with Minnesota. A $10 million contract would be a surprise, given how NHL general managers usually think about goalies. But the Wild also have to balance that against what they need to keep building around him.
As one GM told NHLRumors.com, “Even with a rising cap, and all the top guys getting their money, we still need to put a competitive team on the ice.”
That is the push and pull here. Gustavsson is already locked in, Wallstedt is pushing toward a major payday, and Bill Guerin has to decide how much of the cap he wants tied up in the crease. In Minnesota, that conversation is only getting louder.
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