Red Wings sign Petr Mrazek to two-year, $8M contract

The Detroit Red Wings and young goaltender Petr Mrazek have come to terms on a two-year contract extension reportedly worth $8 million.

Mrazek and the Red Wings were supposed to go through an arbitration hearing Wednesday.

Heading into arbitration, Mrazek was reportedly looking for $10 million over the next two years in his asking price. The Red Wings countered with a total of $5.85 million ($2.7 million in the first year and $3.15 million in the second season) over two seasons according to Sportsnet’s Elliotte Friedman.

Detroit has not gone through an arbitration case with a player since 1995 with Ray Sheppard. The Red Wings filed for arbitration with Mrazek.

The deal is a large raise for the 24-year-old Mrazek, who made $737,500 last season and appeared to take over as the team’s starting goaltender until he was replaced by declining 32-year-old veteran Jimmy Howard down the stretch.

Signing Mrazek essentially completes Detroit’s summer with their NHL restricted free agents. On Tuesday, the team signed defenseman Danny DeKeyser to a six-year $30 million contract.

According to General Fanager, Detroit is over the salary cap by $4,867,042.

The Red Wings could save this money by putting forwards Johan Franzen and Joe Vitale on long term injured reserve.

Mrazek’s deal keeps him below the $5 million per-year range set by Toronto Maple Leafs goaltender Frederik Andersen earlier in the offseason, but rewards him as the Red Wings’ goaltender of the future.

He held a 2.33 goal-against average and .921 save percentage last season in 54 games played, and in three playoff games he had a 1.35 goal-against average and .945 save percentage. In 10 career postseason contests he’s held a .931 save percentage.

In January, Mrazek went 7-1-1 with a 1.32 goal-against average and .952 save percentage, but in the last two months he was pulled five times in a span of 14 starts.

The Red Wings reportedly tried to trade Howard earlier in the offseason, but were unable to do so. They now have $9,291,666 locked into both their goaltenders.

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Josh Cooper is an editor for Puck Daddy on Yahoo Sports. Have a tip? Email him at puckdaddyblog@yahoo.com or follow him on Twitter! Follow @joshuacooper