Carey Price signs eight-year extension with Canadiens

Carey Price signed an eight-year contract extension with the Montreal Canadiens on Sunday. Financial terms were not released, but TSN reported that it has an average annual value of $10.5 million.

The 29-year-old goaltender could have become an unrestricted free agent after this season. Sunday was the second day he was eligible to sign an extension.

Price, who turns 30 on Aug. 16, has one season at $6.5 million remaining on a six-year contract he signed July 2, 2012. He becomes the highest-paid goaltender in the NHL, surpassing Henrik Lundqvist of the New York Rangers, whose contract has an average annual value of $8.5 million, according to CapFriendly.com.

Price was tied for sixth in the NHL with a .923 save percentage last season. He was tied for fifth with a 2.23 goals-against average and 37 wins, and finished third in voting for the Vezina Trophy behind Braden Holtby of the Washington Capitals and Sergei Bobrovsky of the Columbus Blue Jackets.

Price won the Hart Trophy as the NHL's most valuable player and the Vezina in 2015. Since the start of the 2014-15 season, Price is first in the NHL in save percentage (.929) and GAA (2.09) in 140 games.

He also helped Canada win the gold medal at the 2014 Sochi Olympics and World Cup of Hockey 2016.

Price is 270-175-55 in 509 NHL games, all with Montreal. His 270 wins are third in Canadiens history, 19 behind Patrick Roy (289) and 44 behind Jacques Plante (314). Price is in fourth with 39 shutouts.