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Kings, Cal Petersen agree to three-year, $2.575M extension

Petersen will carry a $858,333 cap hit in each of the next three seasons.

Los Angeles Kings v Buffalo Sabres Photo by Bill Wippert/NHLI via Getty Images

Goaltender Cal Petersen reached a deal with the Los Angeles Kings today, signing a three-year, $2.575M extension that takes him through the 2021-22 season. Petersen will carry a $858,333 cap hit each season.

The 24-year old goaltender made his NHL debut in November 2018 and played 11 total games for the Kings last season, recording a 5-4-1 record, 2.60 goals against average, and a .924 save percentage. Petersen also took on the bulk of the work in Ontario with the Reign, with a 13-19-3 record, 4.02 goals against average, and a .896 save percentage.

Petersen’s contract is a two-way deal for 2019-20, meaning he is paid at a lower rate for the time he spends in the AHL. It is a one-way deal for the final two seasons, meaning Petersen will be paid the same regardless of which league he is playing in. 2019-20 will be Petersen’s final season of being waivers-exempt.

The Kings investing in a longer deal for Petersen now gets him locked in at a lower price and will give him three seasons to prove himself as an NHL-caliber starting goaltender. Petersen will be an unrestricted free agent at the conclusion of this contract.

Jonathan Quick’s current deal ends after the 2022-23 season. Just in case you’re wondering.