The Senators have signed goaltender Linus Ullmark to a four-year, $33MM extension, the team announced today. TSN’s Darren Dreger was the first to report the news. It will carry a cap hit of $8.25MM and keep him in Canada’s capital through the 2028-29 season.
Per PuckPedia, Ullmark’s contract contains a full no-move clause. It’s also paid out entirely in base salary with no signing bonuses. He’ll earn $7MM in 2025-26 and $8MM in 2026-27 before earning $9MM annually in the final two years of the deal.
The deal closes a brief period of uncertainty for the Sens, who parted ways with the No. 25 pick in this year’s draft, Joonas Korpisalo, and Mark Kastelic to bring the 2023 Vezina Trophy winner in from the Bruins over the offseason without any assurances the pending free agent would sign an extension. Instead, the 31-year-old will avoid becoming a UFA for the second time in his career and play out the remainder of his prime years in Ottawa.
However, Ullmark isn’t doing his new team any favors with a discount on his market value. His $8.25MM cap hit is identical to the eight-year deal his former tandem partner Jeremy Swayman signed to remain in Boston long-term. He’s much older, though, and while he’s been a decidedly above-average netminder for five years in a row now, he likely couldn’t have commanded a more prosperous deal on the open market. That does offer some explanation for why he’s opted to sign this agreement so soon into extension talks, which were nonexistent as recently as two weeks ago, per reports.
But it’s also quickly coming into view that Swayman has already accomplished his self-stated goal of resetting the goalie market with his contract. Before he signed, it would have been hard to imagine Ullmark landing a contract just $250K shy annually of the recent long-term extension that Connor Hellebuyck, a more established bona fide No. 1, signed in Winnipeg not too long ago. Now, however, Ullmark easily becomes the fourth-highest-paid goalie in the league next season, although he’ll drop to fifth at some point. He was the second-best goalie atop the 2025 UFA class, outmatched by Rangers star Igor Shesterkin. But after reportedly rejecting an eight-year, $88MM offer to keep him in New York, the latter remains without a deal.
After spending his entire career until the 2021 offseason in the Sabres organization, Ullmark cashed in with a four-year, $20MM deal with the Bruins. The Swede had posted solid numbers in limited action in Buffalo but emerged as an outright star in Boston, delivering a rock-solid .917 SV% and 11.0 GSAA in 41 appearances in his first season as the Bruins dealt with the retirement of franchise netminder Tuukka Rask. He split the net evenly with the rookie Swayman that year, a sign of things to come.
Not many goalies can win the Vezina in a full season with fewer than 50 appearances to show for it, but if there will ever be an exception to the rule, it was Ullmark’s 2022-23 campaign. His play was astounding and one of the biggest factors fueling the Bruins’ record 65-win regular season, posting a 40-6-1 record in 49 appearances with a league-leading .938 SV%, 1.89 GAA, and eye-popping 48.5 GSAA. He took home the Vezina, shared the Jennings Trophy with Swayman (who was solid in his own right with a .920 SV%), and finished 10th in Hart Trophy voting.
Even in a regression season, Ullmark was still among the league’s premier goalies in 2023-24. He finished sixth in Vezina voting after logging a .915 SV%, a 2.57 GAA, and two shutouts with a 22-10-7 record. But his level of play was just slightly bested by Swayman, who started a slim majority of Boston’s games for the first time and took over completely in postseason play. With Swayman reaching restricted free agency this offseason and Ullmark set to hit the open market the following year, the writing was on the wall for Boston to part ways with the veteran and his bargain $5MM cap hit to make room for the younger netminder and to upgrade other areas of their roster, which had relied too heavily on elite goaltending in recent years.
For the Senators, acquiring Ullmark already addressed their biggest weakness. Extending him only gives them further runway with this core to finally return to playoff contention amid a seven-year drought. In nearly every sense, last year’s Ottawa team should have taken a step forward, controlling the majority of scoring chances, shot attempts, and high-danger chances at even strength. Horrid showings between the pipes from Korpisalo and Anton Forsberg doomed them, though, as their combined -30.9 GSAA tanked the Sens’ record back below the .500 mark and far away from a wild card spot.
With Ullmark instead of Korpisalo last season, there’s a very real argument that Ottawa would have ended its playoff drought already. The only question mark will be whether Ullmark can handle an increased workload with diminished support in the form of Forsberg as his backup. He’s never made more than 50 appearances in a season and has made more than 40 starts just once, during his Vezina-winning campaign.
Looking at the 2025-26 season, Ottawa now has $75.4MM wrapped up in 13 players after Ullmark’s extension, per PuckPedia. Assuming the cap jumps to a reported $92.5MM ceiling, the Sens have just over $17MM to fill 10 roster spots, including an extension for pending RFA Ridly Greig.
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