Avalanche extend goaltender Alexandar Georgiev with three-year deal

The Colorado Avalanche announced via Twitter that they have extended goaltender Alexandar Georgiev for three years. TSN’s Chris Johnston reports that the deal is expected to carry a $3.4M AAV. Colorado had acquired the goaltender on Thursday in exchange for a 2022 third-round pick, a 2022 fifth-round pick, and a 2023 third-round pick. The trade, and now this extension, seems to put a close to Darcy Kuemper’s time in Colorado, as he is set to hit the free agent market on Wednesday.

Georgiev, 26, was an arbitration-eligible RFA who was due a $2.65M qualifying offer, one the Rangers likely couldn’t afford, especially as a backup to Vezina Trophy winner Igor Shesterkin. With speculation that the team could let Georgiev walk in free agency, the team was able to secure a return by sending him to Colorado for the above draft picks. Colorado appeared set to try and work out an extension with Kuemper, the incumbent goaltender, but with several other UFAs on the docket and a goalie market with seemingly much higher demand than supply, Georgiev became a more attractive option.

The reigning Stanley Cup champion Avalanche now boast a duo of Georgiev and Pavel Francouz in net, which will cost a combined $5.4M over each of the next two seasons before Francouz becomes a UFA after 2023-24. The cost for both goaltenders is surely attractive for Colorado, given it is less than some teams pay for just their starter, however it doesn’t come without some questions as to performance. In 33 games last season with the Rangers, Georgiev played to just an .898 save-percentage, the worst mark of his career and 2.92 goals-against average. Francouz played to a far better .916 save-percentage and 2.55 goals-against average in 21 regular season games, as well as a .906 save-percentage and 2.81 goals-against average in seven playoff games, filling in for an injured Kuemper. Though Francouz’s numbers are relatively good, the Avalanche have made clear his role is as the backup. This may not necessarily hold true over the remainder of his contract, and could formulate strong competition between the two for playing time.