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The Ottawa Senators are about to drop the puck on the 2024-25 NHL season. However, they took time on Wednesday to take care of some off-the-ice business before their first game. The Senators signed Linus Ullmark to a contract extension, the team confirmed. Ullmark is signed for this season, so his extension kicks in on July 1, 2025.
The Senators have been interested in signing Ullmark to an extension since trading with the Boston Bruins for him. Things have finally come together for the two sides. And it will certainly be interesting to see how things turn out in the years ahead. As puck drop nears, let's hand out contract grades to Linus Ullmark and the Senators for the four-year extension they recently agreed to.
Linus Ullmark signs with Senators
Linus Ullmark has played as one of the best goaltenders in the NHL over the past few seasons. In fact, he leads the NHL in save percentage dating back to 2021-22, according to Evolving Hockey. He also ranks third in Goals Saved Above Average, fifth in Goals Saved Above Expected, and fifth in WAR among goalies since 2021-22.
His track record is rather convincing of his skill, as well. The veteran Senators puck stopper has never recorded a save percentage lower than .900 in his career. The lowest save percentage he has recorded in a single season with at least 20 games played is .913, which happened back in 2015-16.
The overall point is that Ullmark is an elite goalie in this league. So it makes a lot of sense for him to demand a big contract. He receives a big payday here. His $8.25 million salary in 2025-26 is a raise of more than $3 million over what he makes in 2024-25. Interestingly enough, it is also the same salary Jeremy Swayman received from the Boston Bruins, Ullmark's former team.
This is not a long-term contract. However, adding the 2024-25 season, Ullmark essentially confirms his future for the next five seasons. This is certainly an important thing for a veteran player. Especially for a veteran player who is starting to get up there in age.
Ullmark receives a considerable pay raise and is now one of the highest paid goalies in the league. And this deal came about without the veteran suiting up in a single regular season game for Ottawa. Overall, it's hard to hate this deal from his perspective.
Senators sign Linus Ullmark
Outside of a first-round pick, the Senators didn't give up a ton for Linus Ullmark. They shed the contract of Joonas Korpisalo one season after signing the deal. And they moved a young forward in Mark Kastelic who may not have had a chance to make Ottawa's roster.
Mind you, Ottawa made this trade to receive one year of Ullmark. They certainly had an interest in extending the veteran puck-stopper. But he had no extension at the time of the trade. For one year of Ullmark, it was a good deal for the Senators. Now, it's a fantastic deal for the Senators.
There is certainly risk here. Ullmark is on the other side of 30, so his play could certainly start declining. Furthermore, while he has played well since 2021-22, there is a caveat. His numbers are boosted by the otherworldly 2022-23 season that stands out as an outlier. This is not to say he is not elite. It's to suggest that expectations could be tampered when it comes to his typical performances.
In any event, the Senators wanted an elite goaltender, and they have it. At this point, there is no excuse. They need to perform on the ice now. And having Ullmark in goal certainly helps their chances of having on-ice success.
Grades and final thoughts
Linus Ullmark and the Senators receive high contract grades. Ullmark receives a considerable pay day to reflect his performances over the years. And the Senators lock in their star goaltender for the next four seasons. All in all, this is a win-win deal for both sides.
Linus Ullmark grade: A
Ottawa Senators grade: A-
