Igor Shesterkin contract: Full breakdown of Rangers star's $92 million, eight-year extension

Despite reports that New York Rangers goaltender Igor Shesterkin rejected a contract offer earlier this season that would have made him the highest-paid player at his position in NHL history, ink has now been officially put to paper. The Rangers and Shesterkin have come to terms on an eight-year, $92 million contract, the richest deal for an NHL goaltender ever.

With an AAV of $11.5 million, he now easily surpasses the previous record-high salary mark of Montreal Canadiens goaltender Carey Price (who hasn't played since their surprise run to the 2021 Stanley Cup Final and is on Long Term Injured Reserve), who earned an AAV of $10.5 million.

Coincidently, the deal was announced shortly after the Rangers traded defenseman Jacob Trouba and his entire $8 million AAV to the Anaheim Ducks.

In terms of how Igor Shesterkin's deal (which begins at the start of next season) breaks down, he'll earn an AAV of $11.5 million for the duration of the deal, which will be paid in that amount for each of the eight years.

He also isn't receiving any contract bonuses; the $11.5 million AAV is his salary. This means that, unlike so many other lengthy contracts, this one isn't front-loaded.

Examining the New York Rangers' situation after Igor Shesterkin's extension

Igor Shesterkin is easily one of the top goaltenders in the game, and the Rangers needed to get him under contract to ensure that he spends the peak of his career with the franchise.

But even with the NHL salary cap set to rise, the Rangers will soon be in a precarious financial position. Star forward Artemi Panarin (AAV of $11.6 million) can become a free agent in the summer of 2026; meanwhile, defenseman Adam Fox is under contract through 2028 with a $9.5 million AAV.

Having one player, albeit the most valuable member of the team, take up that much salary cap space could make it difficult for GM Chris Drury to continue fielding a competitive team that can challenge for the franchise's first championship since 1994.

Right now, Igor Shesterkin's numbers aren't exactly strong on the surface thanks to a recent rough patch the Rangers have gone through. His goals-against-average is north of 3.00, and he recently dropped one game below the .500 mark.

Still, this was a deal that the Rangers couldn't wait much longer to finish. It's now up to Drury to attempt to negotiate a fair extension for Panarin while also addressing other needs on the roster to put New York in the best position to win.