The Colorado Avalanche signed newly acquired netminder Philipp Grubauer to a three-year contract on Saturday, the team announced.
The deal reportedly carries a $3.33-million cap hit, according to Sportsnet's Elliotte Friedman.
The Avalanche obtained Grubauer from the Washington Capitals in a draft-day deal that saw the club part with its second-round pick. Colorado also acquired veteran defenseman Brooks Orpik as part of the trade, who was placed on waivers Sunday.
In 35 appearances last season, Grubauer posted a 15-10-3 record with a .923 save percentage.
