3:06PM: Shesterkin’s cap hit will be $5.65 million. (Seravalli)

3PM: The Rangers have announced that Igor Shesterkin has signed a four-year contract.

The deal is believed to be worth between $5.5 million and $5.75 million. (Brooks)

Shesterkin, 25, was 16-14-3 this past season with a 2.62 GAA, .916 save percentage and 2 shutouts.

Shesterkin was an RFA with arbitration rights, but he did not file for arbitration.

Adam Rotter: Shesterkin gets the highest cap hit of any goalie for their second contract and he gets such a big deal because he was only two seasons away from being a UFA. Unlike a lot of contracts, where you are paying for past performance, the Rangers are paying Shesterkin for what they hope his future performance will be. The Rangers are hoping that by the time they get the chance to extend Shesterkin again, in three years, that his current cap hit will be a bargain.

Shesterkin has not yet played a full season in the NHL and considering the small sample size, it’s quite a commitment, but the Rangers believe that the best is ahead for Shesterkin and that he will realize the potential and hype that came with him from Russia. He has shown that ability at times and should only get better as the Rangers overall team defense gets better and they, hopefully, spend a lot more time in the offensive zone. So much of the rebuild was and now the post-rebuild is about Shesterkin. Goaltending is the most important position and for, basically, 15-years we were spoiled by having Henrik Lundqvist in net. Lundqvist carried the Rangers and the Rangers will need Shesterkin to do the same. Shesterkin doesn’t have to be Lundqvist, but if he comes close then the Rangers will be in very good shape for a long time.