Canadiens Sign Peter Budaj and Erik Cole

The Montreal Canadiens have announced that they have signed goaltender Peter Budaj to a two-year contract worth $2.3 million and right wing Erik Cole to a four-year contract worth $18 million. Budaj's deal will pay him $1.15 million per season, while Cole's contract will average out to $4.5 million per year. In 45 games last season with the Colorado Avalanche, Budaj posted a 15-21-4 record, one shutout, a 3.20 GAA, and a .895 save percentage. Cole appeared in all 82 games last season with the Carolina Hurricanes, scoring 26 goals and 26 assists for 52 points. These are okay depth signings for the Canadiens. Budaj gives the team a fairly steady backup goaltender, but struggles mightily as a starter. If Carey Price should fall to an injury over the next two years for an extended period of time, Budaj may have a hard time carrying the team in goal. Cole brings plenty of goal scoring skill and some toughness to the forward lines, but injuries have taken a toll on his career and he can be inconsistent in his scoring from time to time. If Cole can play a more consistent game with the Canadiens, he will be an excellent addition to the team. If not, then the boo birds in Montreal will certainly voice their displeasure over his signing.

Avalanche Sign Goaltender Budaj, Forward Koci to One-Year Deals

The Colorado Avalanche have announced that they have signed goaltender Peter Budaj and left wing David Koci to one-year contract extensions. Financial terms of both deals were not disclosed. Both players would have been unrestricted free agents on July 1. In 15 games last season with the Avalanche, Budaj posted a 5-5-2 record, one shutout, a 2.64 GAA, and a .917 save percentage. Koci appeared in 43 games with the Avalanche last season, scoring one goal and adding 84 penalty minutes. These aren't bad depth signings for the Avalanche. Even though he struggled as the starting goaltender, Budaj has been fairly steady as a backup in Colorado. Along with starter Craig Anderson, the team has a fair amount of talent in goal for next season. Koci is a very tough and gritty forward who will stand up for his teammates. Look for him to continue to play the enforcer role in Colorado next season, but don't expect a lot of offensive production from him.

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.