Avalanche Sign Goaltender Peter Budaj to One-Year Extension

The Colorado Avalanche have announced that they have signed goaltender Peter Budaj to a one-year contract extension worth $1.25 million. He would have become a restricted free agent on July 1. Budaj struggled mightily last season with the Avalanche as their starting goalie, posting a 20-29-5 record with a 2.86 GAA and a .899 save percentage. Based on the one-year contract, the Avalanche appear to be giving Budaj one more chance to redeem himself. He has the potential to become a solid goaltender in the NHL, but so far has not lived up to expectations. Budaj appeared to be ready to take the starter’s role after a strong 2006-07 season, but has floundered the past two seasons. The Avalanche are looking to grab a quality starter when free agency begins on July 1, so Budaj is likely going to back-up whoever they sign. If he struggles again next season, the Avalanche will likely cut ties with Budaj next summer.