Goaltender Jacob Markstrom has agreed to a two-year, $12 million contract extension with the New Jersey Devils, carrying an average annual value of $6 million. The team announced the signing Friday, securing the veteran netminder's services for the foreseeable future.

Markstrom, 35, is currently in his second season with the Devils after being acquired from the Calgary Flames. The Devils sent a 2025 first-round pick (used on Cole Reschny) and defenseman Kevin Bahl to Calgary in exchange for Markstrom. The acquisition was part of an effort to stabilize the team's goaltending, which had been inconsistent. The Devils also added Jake Allen a few months prior to acquiring Markstrom.

Last season, Markstrom played a significant role in improving the Devils' defense, helping them allow the fifth-fewest goals in the league after allowing 281 goals in the 2023-24 season. In 49 regular season starts, he recorded a 26-16-6 record with a .900 save percentage and a 2.50 goals-against average. He also posted a .911 save percentage and a 2.78 goals-against average in the team's first-round playoff series against Carolina.

While Markstrom's current season has started slowly, with an .830 save percentage through four starts, he was recently returning from a lower-body injury. Throughout his 16-year NHL career, which includes stints with Vancouver, Florida, Calgary and New Jersey, Markstrom has a 243-214-63 record, a 2.72 goals-against average, a .908 save percentage, and 24 shutouts.

The Devils will be responsible for the full $6 million cap hit, as opposed to his current contract where the Flames are covering $1.875 million of his salary. The team had also signed Allen to a five-year contract a few months prior.