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Red Wings sign Jimmy Howard to two-year, $4.5M extension

Feb 28, 2011, 12:01 PM EDT

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Jimmy Howard AP

He might be having some rocky moments this season after a surprising breakthrough year in 2009-10, but the Detroit Red Wings made a commitment to Jimmy Howard today with a two-year contract extension reportedly worth $4.5 million.

On first blush, that’s an awfully cheap deal. Then again, it’s really not that shocking considering the fact that supply is really outweighing demand in the goalie market lately. For now, the days of goalies getting $5 million deals have been put on hold.

Howard will be an affordable starting goalie or 1a/1b fixture for the Red Wings through the 2012-13 season, but the team still will need to make a decision about his backup. Veteran goalie and Hall of Fame debate target Chris Osgood will see his contract expire this summer.

This might be a day about trades, but Detroit might have gotten the biggest “steal” of February 28th with this bargain contract. Especially if Howard looks more like the stud he was last year vs. the still-useful but mainly serviceable goalie he’s been this season.

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