In all, Lundqvist is due to make $59.5 million, and he will be with New York until he's 39. Darren Dreger first reported the deal.
Lundqvist, who will serve as netminder of Team Sweden in the Sochi Olympics, has a career .920 save percentage, making him too valuable for the Rangers to part with.
However, Lundqvist has sat out the past two games behind Cam Talbot, and there were whispers of a controversy brewing between the team and Lundqvist, even though both sides had said that the goalie had wanted to reduce the number of games he appeared in.
With the new contract, those rumors have sufficiently been put to rest.
Lundqvist has a 8-11 record this year with a .917 save percentage and a 2.51 goals against avearge in 20 games.