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Semyon Varlamov, Avalanche Agree On Three-Year, $8.5 Million Contract

After the Colorado Avalanche completed a trade with the Washington Capitals for goalie Semyon Varlamov, there were early reports that the team signed the netminder to a two-year, $5.5 million dollar deal. However, those contract details proved to be erroneous. On Saturday it was revealed (via Capgeek) that both sides agreed to a three-year, $8.5 million deal.

Varlamov will make $2.5 million in 2011 before taking in $3 million in each of the following seasons. His cap hit for each season will be $2,833,333. 

Varlamov will enter training camp as the projected starter with recently-signed Jean-Sebastien Giguere his backup. The Avalanche traded Craig Anderson in February and let Peter Budaj and Brian Elliott (received in the Anderson trade) leave via free agency.

On Saturday, the goalie did issue a statement through his agent, thanking the Capitals for his time there and wishing them best of luck. This came after Varlamov flirted with moving to Russia to play in the KHL after the Caps decided they didn't want to offer him a starter-level contract.

For more on the Avalanche and their offseason plans, visit Mile High Hockey.