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Colorado Avalanche sign goaltender Semyon Varlamov to a 5-year extension

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The Colorado Avalanche announced Thursday that they had signed goaltender Semyon Varlamov to a five-year contract extension worth $29.5 million.

The extension, which will kick in next season, will run through the 2018-2019 season; and carries an annual cap hit of $5.9 million.

“Undoubtedly, Semyon has been an impact player for us this season,” said Avalanche Executive Vice President of Hockey Operations Joe Sakic. “At only 25 years old, he is entering the prime years of his career and he wants to be part of this franchise moving forward. We are very excited to have come to terms with him and the fact that he has agreed to a five-year extension demonstrates his commitment to the Avalanche and what we’re trying to accomplish.”

The 25-year-old Russian netminder is having a career year for the Avs this season (his third with the team); leading the league in saves (1,257) and ranking second in wins with 28 (a career best).

"It was a big day for us," said head coach Patrick Roy. "I'm sure it's a great day for Varly as well. He certainly deserved that contract.”

The Colorado Avalanche acquired Varlamov from the Washington Capitals in July of 2011, in exchange for a first and second round pick in the 2012 NHL Entry Draft.

Varlamov becomes the fourth player that the team has signed to an extension since this summer; joining Matt Duchene, Gabriel Landeskog and Nate Guenin.