The New York Rangers and goalie Igor Shesterkin are working on a long-term contract extension. The Vezina Trophy winner is entering the last year of his contract, worth $5.67 million. With unrestricted free agency pending, it is in the Rangers' best interest to get an extension done before the 2024-25 season begins. Daily Faceoff's Frank Seravalli reported that Sheterkin is setting a deadline of opening night and the Rangers are not worried about that.

“Contract talks are ongoing with NYR and Igor Shesterkin. Don't believe Rangers are too fazed by a reported ‘deadline' to get a deal done before reg season begins,” Seravalli reported. “Safe to say: Shesterkin is NYR priority, he has earned an AAV higher than Carey Price, but there are limits.”

Shesterkin wants to be the highest-paid goalie in the league, north of $12 million. Sergei Bobrovsky and Andrei Vasilevskiy won Stanley Cups with high cap hits. Shesterkin's camp knows the Rangers can build a team around a $12 million goalie. New York already has Artemi Panarin making over $11 million, so it will be a difficult cap to balance.

Igor Shesterkin has certainly earned a massive payday in his short NHL career. In five NHL seasons, he has three top-ten Vezina finishes and a save percentage of .921. He has been even better in the playoffs, with a .928 save percentage and a 2.34 goals-against average.

Rangers' Igor Shesterkin re-sets the goalie free agency market

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As one of the best goalies in the league, Shesterkin should re-set the entire goalie market. His cross-town rival Ilya Sorokin had an opportunity to do the same but took $8.5 million to stay with the Islanders. Shesterkin has been better than Sorokin so far, so he certainly will eclipse his number.

Shesterkin's $12 million request would make him the highest-paid goalie right now and in the cap era. Carey Price's $10.5 million currently holds that title. While he is certainly one of the best in the league, it is understandable for the Rangers to balk at the request. With a championship-caliber team on paper, there is not much room for that cap hit.

If the Shesterkin deal does come in at $12 million, his cap hit would be $6.34 million higher in 2025-26 than in 2024-25. The Rangers currently have $623,000 in space. While Jacob Trouba's $8 million will likely come off the books, it will still be difficult to fit pieces around him. The Rangers must keep their star goalie but must prioritize their cap balancing as well.