NHL Rumors: Ilya Sorokin, Islanders Agree to 8-Year, $8.25M AAV Contract Extension

Ilya Sorokin is staying on Long Island for years to come.

The New York Islanders announced Saturday that they have signed the star goaltender to an eight-year extension that will begin during the 2024-25 season. It is worth $8.25 million annually, according to Sportsnet's Elliotte Friedman.

The Islanders selected Sorokin in the third round of the 2014 draft and he has emerged as one of the best goaltenders in the NHL since making his debut during the 2020-21 campaign.

During his 2020-21 rookie season, Sorokin posted a 13-6-3 record, .918 save percentage, 2.17 goals-against average and three shutouts in 22 games.

The 27-year-old emerged as New York's starter during the 2021-22 season and he posted an impressive 26-18-8 record, .925 save percentage, 2.40 goals-against average and seven shutouts in 52 games.

Sorokin put together a Vezina Trophy-worthy 2022-23 season, posting a 31-22-7 record, .924 save percentage, 2.34 goals-against average and six shutouts. However, he finished second in Vezina voting behind Boston's Linus Ullmark.

The Islanders finished the 2022-23 campaign fourth in the Metropolitan Division with a 42-31-9 record before falling to the Carolina Hurricanes in the first round of the Stanley Cup Playoffs.

Sorokin will be among the NHL's highest-paid goaltenders when his contract kicks in during the 2024-25 season, joining Tampa Bay's Andrei Vasilevskiy ($9.5 million), Florida's Sergei Bobrovsky ($10 million) and Montreal's Carey Price ($10.5 million).

While Sorokin is locked up for the foreseeable future, the Islanders must make some upgrades in other areas this summer if they hope to contend for a title in 2023-24. They'll have $3.8 million in projected cap space to do so, according to CapFriendly.