Igor Shesterkin doesn’t need to copy Knicks star’s discount with next Rangers contract, but it’d be nice

Igor Shesterkin of the New York Rangers and Jalen Brunson of the New York Knicks each are star players who work for the same owner, James Dolan. But just because one recently left a lot of money on the table in his most recent contract negotiation, doesn’t mean the other must follow suit.

Brunson just signed a four-year, $156.5 million contract extension, leaving over $100 million on the table as he could’ve earned a 5-year, $269.1 max contract as a free agent next offseason. The star guard took the discount so that the Knicks could continue to build a competitive group around him, trying to win their first NBA championship since 1973.

It’s a selfless move that puts the team first and cements his status as a fan-favorite in New York, though an AAV just shy of $40 million is no chump change. But does it have any bearing on their Madison Square Garden siblings?

Shesterkin can become an unrestricted free agent next offseason. After winning the Vezina Trophy, awarded to the League’s best goaltender, in 2021-22, and recording a franchise-best .928 save percentage in his postseason career, Shesterkin has an opportunity to become the highest-paid goalie in NHL history.

It certainly seems that we’re headed in that direction.

Larry Brooks reported that Shesterkin’s camp is aiming for a contract that would take up 14 percent of the expected $92 million cap in 2025-26 — a record-breaking $12.9 million AAV.

Carey Price, one of just two goaltenders to win the Hart Trophy in the 21st century, currently holds the record for goalies with an 8-year, $84 million contract and a $10.5 million AAV, which composed 14 percent of the cap at the time he signed it.

A 14 percent contract at $12.9 million AAV wouldn’t just make Shesterkin the highest-paid goaltender in the NHL — it would make him the second-highest player in the NHL, trailing only Auston Matthews of the Toronto Maple Leafs ($13.25 million AAV).

Sergei Bobrovsky has a $10 million AAV and just won the Stanley Cup with the Florida Panthers.

It wouldn’t be the first time Shesterkin has set a contract record. His current 4-year, $5.65 million AAV contract was the biggest ever given to an NHL goalie on his second contract.

That contract still ended up being a steal. Shesterkin was the 10th-highest-paid goalie by AAV last season.

Related: Rangers’ Adam Fox has one of best NHL contracts, report reveals

Jalen Brunson’s contract should not affect Igor Shesterkin’s negotiations with Rangers

Back to Brunson, the Knicks superstar made an incredibly humble decision that he should be rightfully praised. That same responsibility shouldn’t befall every New York star, however.

There are some fundamental differences between the two situations that should be noted.

While the NBA is a cap sport, it’s not a hard cap like the NHL, meaning teams can surpass the threshold, although they will be hit with a luxury tax. In 2023-24, 29 of 30 NBA teams spent beyond the first cap threshold, according to Sportico .

Brunson’s sacrifice is still incredibly valuable, but it would be even more so in a hard-cap league like the NHL or NFL, where teams are outright forbidden from being over the cap.

It also needs to be noted that the NBA is in a completely different stratosphere financially than the NHL.

Jayson Tatum’s 5-year, $314 million contract ($60.8 million AAV) this offseason set the record for the biggest contract in NBA history, a record that seemingly gets broken every offseason. Matthews’ 4-year, $53 million contract ($13.25 million AAV) with the Maple Leafs last summer is still the the largest AAV in NHL history.

Yet, taking team-friendly deals is not unfamiliar territory for the sport of hockey.

Sidney Crosby chose to stay at $8.7 million AAV on his 12-year extension with the Pittsburgh Penguins, despite being eligible for a much bigger pay raise on the open market back in 2013. That proved beneficial for the franchise, as they won back-to-back Stanley Cup championships in 2016 and 2017 with loaded rosters.

Steven Stamkos signed a similar team-friendly deal worth $8.5 million AAV with the Tampa Bay Lightning in 2016, allowing them to build a stacked team that reached the Cup Final three straight years, and won it twice, in 2020 and 2021.

But the player’s generosity isn’t always reciprocated at the end. Both Stamkos and Crosby enjoyed multiple championships, in part due to their financial sacrifice. When it came time for Stamkos’ second run at free agency, however, he was only offered $3 million AAV across eight years by Tampa this offseason. Feeling disrespected, he hit the open market and signed with the Nashville Predators, a 4-year, $8 million AAV contract. It’ll be interesting to see what Crosby’s next contract looks like with negotiations reportedly underway.

But remember, it’s a personal decision and one that Shesterkin, in this case, is free to make on his own. He will weigh his market value as one the best players at his position along with any desire to remain in New York and/or help the Rangers with a friendlier team deal.

These are risks he will have to weigh as his contract negotiations loom. A less expensive contract may mean a better chance at a championship, but it may come at the cost of never getting what he is rightfully owed.

Related: Igor Shesterkin believes ‘it should’ve been’ other Rangers goalie in 2024 NHL All-Star Game

Rangers have been down this path with Hall of Famer Henrik Lundqvist

The Rangers will have to weigh risks on their side as well. If they pay Shesterkin 14 percent of the cap, that’s a lot to allocate for a goalie, even one as elite as he is.

For what it’s worth, they went down this road before with Hockey Hall of Famer and Blueshirts legend Henrik Lundqvist. His rich contracts ensured that they had one of the greatest goalies in the League for well over a decade, but it never resulted in the Rangers winning the Stanley Cup.

Lundqvist certainly did his part. He recorded a 2.30 GAA and .921 save percentage in 130 postseason games, consistently their best performer in the Stanley Cup Playoffs. But the team around him was never quite strong enough to get to the top of the mountain, despite three trips to the Eastern Conference Final and one to the Stanley Cup Final in 2014.

“Henrik Lundqvist never won a Stanley Cup. So I think their experience with Lundqvist (is a factor now),” the New York Post’s Mollie Walker recently told Forever Blueshirts . “And I don’t think Igor Shesterkin is Henrik Lundqvist either.”

Lundqvist twice signed contracts that composed over 12 percent of the cap at the time of signing. It’s not his fault that the Rangers’ front office wasn’t able to construct a better team around him, and it wasn’t his responsibility to take less in order to make their job easier. But the fact remains, the Rangers have been down this path, and may be hesitant to do so again with Shesterkin.

“I think that’s the other point if I’m the Rangers I’m making as well,” Walker continued. “He’s one of the best goalies in the League, no doubt, but I don’t think he’s at Henrik Lundqvist’s level.”

That’s obviously a high bar and the Rangers would be hard-strapped to find a better option in net than Shesterkin. But it will likely all factor into negotiations and what Shesterkin’s final number will be, if he does as expected stay in New York.

Unless he signs an extension before then, Shesterkin’s not the only expiring contract general manager Chris Drury will have to attend to next offseason. Blossoming star Alexis Lafreniere and talented defenseman K’Andre Miller will both need new deals as restricted free agents with arbitration rights. Though neither will command the same money as Shesterkin, it won’t be cheap either, and the Rangers would prefer to tie each up with long-term contracts. The more money left over from Shesterkin, the better.

Then there’s Artemi Panarin, whose $11.6 million cap hit comes off the books in two years. While that will provide relief, the Rangers top-scorer each of the past five seasons will leave a void that needs to be addressed, either with a cheaper return deal or a new top-six forward.

Shesterkin taking a more team-friendly contract would undoubtedly make life easier for Drury, particularly with the tightrope he will have to walk the next few seasons with the salary cap, even as it increases annually. But, really, it’s not Shesterkin’s responsibility to help the Rangers financially, although it’d be awfully nice if he did something similar to Brunson.

There is no single storyline that’s more important to the Rangers mopving forward than Shesterkin’s next contract.

Subscribe now on YouTube and be part of a community where passion for the New York Rankers knows no bounds!

More must-reads:

• New York Rangers prospect rankings: Centers
• New York Rangers all-time best free agent lineup
• Revisiting Mika Zibanejad trade 8 years ago that set course for current Rangers