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Jake Allen Signs 5-Year Extension with Devils at Bargain Price

Originally posted on NHL Trade Talk | Last updated Jul 1, 2025 11:51 AM ET

Veteran goaltender Jake Allen has signed a five-year contract extension with the New Jersey Devils, carrying a surprisingly low $1.8 million average annual value (AAV). The 34-year-old, who won a Stanley Cup with the St. Louis Blues in 2019 and served admirably during Carey Price’s absence with the Canadiens in 2021-22, is taking on a new role in New Jersey.

Jake Allen has signed a 5-year, $1.8M AAV extension with the Devils, per @FriedgeHNIC pic.twitter.com/VfiKQkSMYW
— B/R Open Ice (@BR_OpenIce) July 1, 2025

As Allen was expected to be the biggest name available on the goaltending market, the $1.8 million salary is a bit surprising. He absolutely would have gotten more per season from another team. But, reports are he had no desire to leave the Devils and it was about the total value of the contract, not necessarily the AAV.

With an AAV well below the 2023-24 league average of $3.5 million for goaltenders, Allen’s contract was about staying with the organization. The Devils spread out his $9 million salary over five seasons.

Even the five-year term has raised eyebrows, given his age. However, the low cap hit makes the loss, should he not finish out the deal, minimal.

This article first appeared on NHL Trade Talk and was syndicated with permission.

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