The Vegas Golden Knights hold one of their top unrestricted free agents pending long-term. The team announced that they have signed defenseman Shea Theodore to a seven-year contract extension worth a total of $51.975 million, making his AAV value at $7.425 million. Pierre LeBrun of TSN and The Athletic reported that the deal breaks down as follows:
2025-26: $9.5 million
2026-27: $9.5 million
2027-28: $8.6 million
2028-29: $7.275 million
2029-30: $5.7 million
2030-31: $5.7 million
2031-2032: $5.7 million
Theodore is one of the 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 expected to become one of the most sought-after defensemen in free agency next offseason, making this extension a bit of a hometown rival. Evolving-Hockey projects Theodore will receive an eight-year extension worth just over $9 million per season meaning the Golden Knights will get him for $1.5 million cheaper with the salary cap continuing to rise.
Part of the lower-than-expected price may be due to the availability of Theodore over the past several years. The former 26th overall pick of the 2013 NHL Draft managed just 180 regular-season games for Vegas from 2021 through the end of last season and missed more than a quarter of the games due to various injuries. If his injury history continues into this contract, this could represent one of the riskier extensions of the past year.
Despite the absence due to injuries over the past few years, there is credibility for the Golden Knights that makes Theodore the second highest paid defensive player. He was arguably Vegas’ best offensive weapon from the blue line during his eight-year tenure as he scored 67 goals and 296 points in 450 games with 88 of those points coming from the powerplay.
He was no slouch on the other side of the puck either. Theodore posted an impressive 58.8% CorsiFor% and 91.0% on the ice in all situations throughout his time in Sin City with an E+/- of 78.4 according to Hockey Reference. There’s an argument to be made that much of Theodore’s success in possession metrics comes from his 63.2% offensive zone start rate, but that doesn’t excuse all of that for a defenseman who averages nearly 22 minutes of ice time per game.
Starting next season, the Golden Knights will have $23.575 million split between three defensemen at the top of their lineup. This may prevent the organization from retaining the other unrestricted and restricted free agents currently on the roster, but it is on par with one of the most aggressive franchises in the league.
