A Kingly Deal: Lundqvist inks long-term extension

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New York, NY (SportsNetwork.com) - The New York Rangers and goaltender Henrik Lundqvist agreed to a contract extension on Wednesday.

TSN Canada reported the seven-year deal has an average annual value of $8.5 million.

The 31-year-old Lundqvist was scheduled to become an unrestricted free agent in the summer.

"Since his arrival in New York in 2005, Henrik has consistently been one of the elite goaltenders in the NHL," Rangers president and general manager Glen Sather said in a statement. "He is a proud representative of the tradition and class of this organization and we are excited to have him remain as a cornerstone of the franchise."

Lundqvist has gone 8-11-0 with a 2.51 goals-against average and a .917 save percentage in 20 games this season.

Unearthed by the Rangers in the seventh round (205th overall) of the 2000 NHL Entry Draft, the Swede won at least 30 games in each of his first seven seasons and captured the 2012 Vezina Trophy. He tied for the league lead with 24 wins during the lockout-shortened 2013 campaign.

Lundqvist's 284 wins are 17 shy of Mike Richter's franchise record of 301 and his 47 shutouts places him two behind Ed Giacomin's club-record 49.

For his career, Lundqvist has a 2.26 GAA and a .920 save percentage.