Breaking: Devils & Markstrom Agree on Multi-Year Extension

Ever since the start of training camp, we'd been hearing that the New Jersey Devils were looking to sign goaltender Jacob Markstrom to an extension. That has come to fruition on Friday night, as the sides have agreed on a two-year, $12 million extension ($6M AAV).

The New Jersey Devils have agreed to a two year extension with goalie Jacob Markstrom, sources told ESPN.
— Emily Kaplan (@emilymkaplan) November 1, 2025

The Devils acquired Markstrom in a trade with the Calgary Flames after the 2023-24 season, in exchange for a first-round pick in 2025 and defenseman Kevin Bahl.

The 37-year-old went 26-16-6 in his first year in Jersey last season, posting a .900 save percentage and a 2.50 goals against average along with four shutouts. He's been off to a tough start this year, with an .830 Sv% and a 5.13 GAA through four games. He's playing out an expiring six-year contract this season at a $6M cap hit, so he'll maintain that same payday through 2027-28.

The Devils will have stability in the crease for a while, as backup Jake Allen is locked up through 2030, as he begins the first of a five-year deal this season, with a $1.8M AAV.

In a 16-year career, Markstrom has a .908 Sv% with a 2.72 goals against and 24 shutouts.