Vegas Golden Knights sign Shea Theodore to seven-year extension

The Vegas Golden Knights are keeping one of their most important free agents for the long term. The team announced that it has signed a defenseman Shea Theodore to a seven-year contract extension worth a total of $51.975 million.

Theodore is one of three original members of the Golden Knights organization and this extension will keep him with the team through the 2031-32 NHL season. He was projected to be one of the most sought-after defensemen in free agency next offseason, making this extension somewhat of a discount for his hometown. Evolving-Hockey assumed Theodore would get an eight-year extension worth just over $9 million per season, meaning the Golden Knights would get him $1.5 million cheaper, subject to the salary cap continues to rise.

Part of the lower-than-expected price could be due to Theodore's availability in recent years. The former 26th overall pick in the 2013 NHL Draft only managed 180 regular season games for Vegas from 2021 through the end of last season, losing over a quarter of the games due to various injuries. If his injury history continues into this contract, this could be one of the riskier extensions of last year.

Despite absences due to injuries in recent years, the Golden Knights have credibility making Theodore their second-highest paid defenseman. During his eight-year tenure, he was arguably Vegas' best offensive weapon from the blue line, scoring 67 goals and 296 points, including 88 points on the power play, in 450 games.

He was no slouch on the other side of the puck either. Theodore has posted an impressive 58.8% CorsiFor% and 91.0% on-ice save percentage in all situations throughout his time in Sin City, with an E +/- of 78.4 according to Hockey Reference. It can be argued that much of Theodore's success in possession metrics comes from his 63.2% offensive zone start rate, but that doesn't excuse everything for a defenseman who averages nearly 22 minutes of ice time per game.

Starting next season, the Golden Knights will have $23.575 million spread across three defensemen at the top of their lineup. This may prohibit the organization from retaining other unrestricted and restricted free agents currently on the roster, but it's par for the course for one of the league's most aggressive franchises.