Damien Cox of the Toronto Star reported the deal earlier and it has been confirmed by Reimer's agent and James Mirtle that the deal is worth $1.8 million per season and will keep him in a Leafs uniform until 2013-14.
Reimer was the biggest reason the Maple Leafs had their late-season playoff surge and if they had made it, he would have definitely been in the Calder Trophy conversation. He went on to post a 20-10-5 record in 37 games this season. He also made his first appearance for Team Canada at the recent World Championships posting a 3-0-0 record, a 2.04 GAA and a .920 save percentage.
While it's yet to be seen if this year's performance was a fluke, there is no reason to believe he can't continue the upward slope he began last season. If he's not what we think he is, then $1.8 million per season is not that bad to spend on a back-up.
This could also give us a hint on the future of Jean-Sebastien Giguere. If he were to stay with the Leafs, we all know that it would be taking a massive pay cut from what he made the past few seasons. If he were to take around $1.5-2 million per season for maybe two years, then he can still be a valuable member of the Leafs and a great mentor for Reimer. The only question left would be concerning what happens to Jonas Gustavsson.
The Leafs have now locked up their starting goaltender. Next step: Luke Schenn and Clark MacArthur.