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Caps give Holtby two-year, $3.7 million contract extension

Feb 25, 2013, 12:39 PM EDT

NEW YORK, NY - APRIL 28: Braden Holtby #70 of the Washington Capitals reacts after giving up a goal in the second period of Game One of the Eastern Conference Semifinals against the New York Rangers during the 2012 NHL Stanley Cup Playoffs at Madison Square Garden on April 28, 2012 in New York City. (Photo by Bruce Bennett/Getty Images) Getty Images

The Washington Capitals have re-signed goalie Braden Holtby to a two-year, $3.7 million contract extension, the club announced today.

“We are pleased to sign Braden to a contract extension,” said Caps general manager George McPhee in a release. “Braden is a young and talented goaltender who has performed very well in both the regular season and the playoffs during his NHL career. We are fortunate to have two excellent young goaltenders on our roster in Washington.”

Holtby will earn $1.7 million in 2013-14 and $2 million in 2014-15, garnering a cap hit of $1.85 million. The 23-year-old is a modest 5-6-0 with a .896 save percentage this season, but has had some strong performances lately.

Per, the Caps have also reportedly reached a verbal agreement on a two-year extension with 32-year-old defenseman John Erskine.

Update: Erskine’s deal is done. Two years, $3.925 million.

  1. ravenscaps48 - Feb 25, 2013 at 12:49 PM


  2. Stiller43 - Feb 25, 2013 at 12:54 PM

    Great news for the eastern conference!

  3. operwapitsai - Feb 25, 2013 at 1:46 PM

    holtby deal is a steal for a kid with that much potential. too bad they couldnt lock him up longer! but he probably wonldnt want that . Erskine deal seems a bit steep but I like what the man brings to the ice every night

  4. withseidelinn - Feb 25, 2013 at 1:46 PM

    How exactly did he earn this? I guess a save pct. below .900 and a GAA above 3 warrants an extension.

    • trick9 - Feb 25, 2013 at 2:18 PM

      Season GP W L OTL SO SV% GAA
      2010-2011 Capitals 14 10 2 2 2 .934 1.79
      2011-2012 Capitals 7 4 2 1 1 .922 2.49

      2011-2012 Capitals 14 7 7 – 0 .935 1.95

      Maybe they think he is earning it because they have watched hockey more than a month…

      • withseidelinn - Feb 25, 2013 at 2:24 PM

        Playing 14 games a season doesn’t prove much.

      • trick9 - Feb 25, 2013 at 2:31 PM

        Just to clear up that’s 21 games a season.. not 14.

        And i still don’t get your point. Should they let him walk because he has not been the starting goalie at the age of 20?

      • withseidelinn - Feb 25, 2013 at 3:08 PM

        I was referring to regular season games, so let’s not start splitting hairs. Never said this guy was a bad goaltender – his play to date this season hasn’t been anything to cheer about, and sub-par to say the least. His performance in last years playoffs was very impressive, but not enough for him to establish himself as a number 1. This season has been a chance for him to do that and he hasn’t lived up to expectations.

        What doesn’t make sense to me is why the GM would give him a deal now, as opposed to when he is on a hot streak and has more than 5 wins to his name. Giving him an extension now is like saying “we’re satisfied with your average performance, keep it up and this is good enough.” Not what a last place team needs right now.

  5. Stiller43 - Feb 25, 2013 at 1:50 PM


    To be precise, he’s:

    43rd in GAA (3.37)
    37th in SV% (.896)
    T-23rd in wins (5)

    • barkar942 - Feb 25, 2013 at 1:54 PM

      And he is backstopping a team that is crappy on defense and their star is just starting to find the net.
      I am a Ranger fan and this kid has a tremendous future ahead of him.

      • ravenscaps48 - Feb 25, 2013 at 2:25 PM

        Penguin fans…. I guess they didn’t watch the first or second rounds of the playoffs last year… Oh that’s right, Philadelphia absolutely DESTROYED them and the fans had to witness that.

    • withseidelinn - Feb 25, 2013 at 2:16 PM

      Below average stats, which I feel he does not deserve an extension for, at this point in the season anyway.

      • rsl22 - Feb 25, 2013 at 2:20 PM

        His stats are really bad, a lot of that comes from some early season terrible nights….but he signed for a pretty low number, and the Caps probably got a good deal by signing him when he hasn’t been at his best.

  6. tfaltin - Feb 25, 2013 at 2:22 PM

    Like always, PHT forum users are quick to kick any player/team when they’re down. Why wouldn’t the Caps want to lock Holtby up? He went save for save with Tim Thomas and came out on top in the playoffs last year, and followed that up by going 7 games with the Rangers (when they were good). That’s the kind of young goalie you want to have around for years.

    See, there I go kicking my own team when they’re down….

  7. capsfan19 - Feb 25, 2013 at 2:33 PM

    His potential has been shown numerous times! Yea its alot to say he’s a genius after one playoff series, but when he’s on… Oh looorrddy!
    I think this is good news. Yea rough start to the season, but after a horrible start he’s had a string of great games that are shooting his stats back up. Id take him of neuvy any day

  8. Stiller43 - Feb 25, 2013 at 2:42 PM

    Youre saying this month doesnt prove anything, but the month in the playoffs means he did? Same amount of time, and then was when the caps went ALL DEFENSE, ALL THE TIME. You coulda brought back jim carey back from wherever he is and he coulda posted similar numbers with that system.

    I forget who said it (it was a melrose type), but they said they thought he would struggle because the system change, and the fact there was no pressure last year in the playoffs. I realize that sounds stupid at first blush, but just think…a rookie being called up due to injuries and whatnot…if he does great, its an amazing story, if he doesnt do well, well he’s not expected to, so whatever.

    They said with being “the guy” going into a season, NOW theres pressure of failing. Well i would certainly say a GAA and SV% in the range of a backup is failing for your main man. He MIGHT have a bright future, but his stint as the main man certainly has given them no reason to extend him (but those playoff games in an all defensive system did, i’ll admit)

    • trick9 - Feb 25, 2013 at 3:04 PM

      ”You coulda brought back jim carey back from wherever he is and he coulda posted similar numbers with that system.”

      So basically your point is that when team is using ALL DEFENSE system any goalie could post those numbers? Then please share to me why he has better SV% than Henrik Lundqvist in the playoffs last season? Rangers have been using that same system for years so that is not going to be a valid excuse.

      All the best goalies have very defensive systems in front of them. For few examples ill say Lundqvist, Quick and Rinne. Or Tim Thomas when they won the Cup. Are you saying that all those goalies could be that easily replaced by Jim Carey?

  9. Stiller43 - Feb 25, 2013 at 2:45 PM

    And ravenscaps,

    I live in northen VA, so outside of pens games, i watch a LOT of caps games.

    • ravenscaps48 - Feb 25, 2013 at 4:52 PM

      And that changes what exactly? You’re still biased against Washington and all you do is focus on the negative

  10. operwapitsai - Feb 25, 2013 at 2:55 PM

    ahem….. he is only the 3rd goaltender in NHL history to post at least a .920 save% and less than 2.00 gaa in the playoffs at age 22 or younger(min. 13 games) who are the other two you ask? just Patrick Roy and Martin Brodeur. so yea id say he has a little potential and deserves a little reward to say the least

  11. csilojohnson - Feb 25, 2013 at 4:49 PM

    Stats don’t tell the whole story here. Holtby has been very good the past few games. His teammates weren’t doing him many favors early on as well. Good signing for the Caps.

  12. therealjr - Feb 25, 2013 at 5:18 PM

    Maybe locking this guy up now saved them some money. Besides, how is 2×1.85M anything but upside?

  13. Stiller43 - Feb 25, 2013 at 6:36 PM


    It changes the fact that you think i only watch the caps when its pens vs caps, or only when the pens are in the playoffs, as you hinted to. Thats what it changes.

    And yeah i should really focus on the positive of that GAA over 3 and the sv% under .900…

    He MAY be great, yes. He’s young and had great numbers in the playoffs last year. He also has had terrible numbers after the scheme switch and a change to being THE guy. Those are all facts. If you want to take all positives out of that, thats great. All im saying is that it doesnt seem like its a great time to give him an extension, and/or for caps fans to be celebrating it.

    • ravenscaps48 - Feb 25, 2013 at 6:50 PM

      So lose him via Free Agency in the offseason? Or keep a Goalie with which the sky is the limit around for a really cheap price tag? Caps made the absolute right call by doing this. What if he continues this streak of great goaltending and wins 20 more games, his price tag would’ve skyrocketed. When you have the chance to lock in a quality player for cheap, you take that chance every time

  14. phillyphanatic77 - Feb 25, 2013 at 6:48 PM

    This is a solid bridge deal for the Caps. It’s very probable that Holtby outplays this contract over the next few seasons. I know he hasn’t played like he did in the playoffs last season, but he absolutely has the potential to reach that level again. Nice decision.

  15. rockthered1286 - Feb 25, 2013 at 8:20 PM

    Holtby 1st 5: 4.2GAA, 0.847 Sv %
    Holtby last 6: 2.3GAA, 0.941 Sv %

    Small sample size but if the argument is “he is having trouble in the new system that’s not focused on D like last year,” I think it’s fair to say he’s adjusting quite nicely. Perfect time to lock him in.

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