Detroit Red Wings: Jimmy Howard's Contract Extension Should Happen, And Soon

To date, there's been no serious negotiations.

No proposals and counter-proposals furiously faxed and emailed between agent and team.

Money, term, bonuses, clauses...all these details remain nebulous and negotiable.

What Detroit Red Wings goaltender Jimmy Howard's next contract will look like is anyone's guess; that it should be created sooner rather than later is certain.

And by sooner, I mean "right friggin' now."

The 26-year-old netminder didn't have a lot of hope surrounding him last season.

After seven years in the Red Wings organization, time was running short for Jimmy Howard to emerge as Detroit's "goalie of the future," the handle he was saddled with when the Red Wings drafted him in 2003.

He had been called up a handful of times from the AHL to join the big club between 2005 and 2009, and after nine games played, he had a single win attached to his NHL resume.

Last season, he was set to share the load of starting duties with Chris Osgood, who had just followed up a miserable regular season with a Conn Smythe-worthy playoff campaign.

Osgood promised he'd be better, that he was ready to keep his momentum going and that, despite appearances, his game was very solidly intact.

It wasn't.

Osgood struggled mightily from the very start of the 2009-10 season and, after just one month, it was clear that Jimmy Howard was the last remaining hope in Detroit's net.

Howard knew this, too.  He also knew that this was likely his last chance to secure a regular NHL job, even if that was to be as a career backup.

Hockeytown braced itself for disaster.

Already suffering through an injury-plagued season, the last thing anyone wanted was some long-in-the-tooth rookie being named the starter by default, only to let in goal after goal and lose game after game, with no alternative in sight.

Despite the desperation of the team and his circumstances, Howard started to win.

In fact, by midseason, Detroit's unfamiliar position at ninth place was considered a good thing, as the Red Wings' injuries could have had them two or three spots lower in the standings, but it was Howard who kept them in the hunt.

Howard kept winning, and by the time the Wings started getting healthy, they not only had a solid goalie in net, but they had a player who had grown used to putting the team on his young shoulders and carrying them through to victory after victory en route to the playoffs.

Jimmy Howard, the Red Wings' goalie of the future, had arrived.

Though the Wings exited the post-season early in the second round, Jimmy Howard's 37-15-10 record, 2.26 GAA and .924 save-percentage provided reason for hope and excitement in Detroit.

Howard had had a fantastic rookie season, but could he keep it up?

That was the biggest question in Detroit approaching this season; after 16 games, it isn't a question at all.

What began as a last ditch effort to make the NHL 13 months ago, has turned into a solid march to NHL stardom for Jimmy Howard.

He is, without a shred of doubt, the Red Wings No. 1 man in net and he isn't going to be giving up that title anytime soon.

However, at 27 by season's end, Howard is in a rare spot for a second-year NHL player—he is set to become an unrestricted free agent.

Regardless of when a player enters the league full time, if his contract expires by his 27th birthday, he is free to negotiate a contract with whomever he pleases.

That other team's would want Howard, at this point, is undeniable; if he hits free-agency, he will have his pick of offers to choose from.

But, what the Red Wings and GM Ken Holland should spend considerable time doing for the rest of this season is making sure these offers never come to Howard in the first place.

The time is now to lock up Jimmy Howard to a contract that will secure his future in Detroit, and likely, the continued success of the team.

If one were to look at Detroit's cap situation now, with their collective head pressed firmly against the salary cap ceiling, there's on way to sign Howard to a deal that would pay him a penny over the $716,000 he currently earns.

However, with the expiring contracts (and possible retirements) of Kris Draper, Mike Modano, Nicklas Lidstrom and Chris Osgood, the Red Wings will have over $9 million to work with over the summer.

So, the question comes, how much of that $9 million should be set aside for Jimmy Howard.

To figure that out, we can look to the contract of two goalies that, taken together, and compared with Howard should give us a fairly accurate picture of Howard's market-price.

Like Howard, Buffalo Sabres goalie Ryan Miller was drafted by the Sabres, developed by the Sabres and eventually, became the Sabres No. 1 goalie.

In 2008, Miller signed a five-year, $31.25 million deal earning him a salary of $6.25 million per year.

As Miller is easily Buffalo's most important player, and has a Vezina Trophy on his mantle, this is money well spent.

However, considering Jimmy Howard is set for free agency, we should look at the contract of a similarly outstanding goalie that switched teams to get a different read on what a top-flight goalie might be worth.

The St. Louis Blues signed goalie Jaroslav Halak, who was traded to them by Montreal after getting that team all the way to the Conference Finals, to a four-year, $15 million deal.

For the mathematically challenged, that works out to $3.75 million per year.

Not a bad bargain at all for a goalie who never finished an NHL season with a losing record or a GAA above 2.89, even though he was playing as a career backup.

Despite his current slide, Halak has cemented himself as one of the better goalies in the NHL and, at $3.75 million per year, helps set the price at which such goalies can be had.

So, let's get back to Jimmy Howard. 

While not as talented as Miller, he is similar in that he's a home-grown talent turned No. 1 goalie, and, compared to Halak, Howard would figure to get at least the same salary from another team over the summer (barring some inexplicable collapse in goal).

Given all of these factors, what would constitute a fair deal to secure Howard's services long-term?

It seems that a five-year, $3.75 offer would be a solid starting point, if not a deal-closer for retaining Jimmy Howard in red and white long-term.

The term is identical to Miller's, and the money identical to his divisional colleague, Halak.

Howard could elect to wait out his season and try his luck on the free-agent market.  It stands to reason he could get more than the speculated $3.75 salary that seems fair.

However, Jimmy Howard has "Red Wing" stamped all over him, and if Ken Holland works his usual magic, which for him has simply become common practice, he'll have his name stamped to a Detroit contract before the season is out.

If Holland can make this happen somewhere close to right friggin' now, I'm sure all of Hockeytown would appreciate it.

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