Bruins reportedly discussing contract extension with Jeremy Swayman

A long-term deal for Swayman could put Linus Ullmark's time with Boston in jeopardy moving forward.

Jeremy Swayman is currently on a one-year contract with Boston. (Photo by Maddie Meyer/Getty Images)

March 4, 2024

2 minutes to read

Don Sweeney and 31 other NHL GMs will be busy this week trying to add or subtract from their respective rosters before the March 8 trade deadline.

But according to a report from Sportsnet’s Elliotte Friedman, Sweeney is already trying to bridge the gap on one of Boston’s most pressing offseason tasks.

Per Friedman, the Bruins have “begun discussing an extension” with goaltender Jeremy Swayman, who is currently on a one-year contract. The 25-year-old netminder is currently expected to hit restricted free agency in July.

A long-term contract for Swayman would serve as a much-needed remedy for all parties after the Bruins and their netminder had to go through a contentious arbitration hearing last offseason.

Both Swayman and Boston were far apart in terms of salary last summer. According to multiple reports, the Bruins came in at $2 million for their projected salary, while Swayman and his camp countered at $4.8 million.

The arbitrator ultimately met both groups in the middle with the $3.475 million salary, representing a significant pay bump from Swayman’s previous AAV of $1.05 million. However, Swayman has been candid about the arbitration process and how much he wants to avoid another quarrelsome contract dispute moving forward.

“Yeah, after dealing with what I did this summer with arbitration, hearing things that a player should never hear, it feels pretty special to be in this situation,” Swayman said in January after being named an All-Star for the first time in his career.

Signing Swayman to a long-term deal stands as a logical path moving forward for the Bruins.

Not only does it cross off Boston’s most important offseason task (and offers more clarity on how much cap space Sweeney can work with this summer), the poised netminder has all the makings of an established No. 1 netminder in the NHL.

So far this season, Swayman is 19-6-8 with a .919 save percentage, a 2.53 goals-against average, and three shutouts. Among NHL goalies with at least 1,000 minutes of ice time this season, Swayman ranks fourth overall in goals saved above average (16.03).

Swayman’s continued growth and his partnership alongside fellow goalie Linus Ullmark have served as the bedrock of Boston’s success over the last few seasons.

But a long-term deal for Swayman — and most importantly, a sizable pay bump — could significantly augment Boston’s roster moving forward.

While both Swayman and Ullmark currently account for a combined cap hit of $8.475 million, the Bruins may not want to keep both goalies in place moving forward if that combined cap hit balloons to, say, $11-12 million next season if Swayman inks a new deal.

As such, the Bruins could opt to deal Ullmark (signed through 2025) in order to free up cap space, gain assets, and carve out a path for Swayman to establish himself as Boston’s undisputed No. 1 goalie for the next five-plus years.

Friedman acknowledged that a Swayman extension could pave a path to a larger Ullmark trade — be it before the deadline or during the offseason.

“If someone craves a netminder now, Boston’s in a position to deliver,” Friedman wrote. “There are two flaws to this, however. First, the Swayman/Ullmark combo gives the Bruins their best chance to win right now, and second, Ullmark has some control over this.

“If it involves a team he can say no to, he’s earned the right to block. … It’s hard to predict where this ends up, but there’s possibility of a bigger hockey trade or something as simple as added depth for the postseason.”