Holmstrom Signs 3-Year Deal

The Red Wings signed their last remaining free agent on Monday when Tomas Holmstrom agreed to a three-year deal.

Holmstrom’s new contract is rumored to give him a substantial raise from his previous base salary of $750,000. The deal also gives bonuses based on overall and power play performance.

Both sides wanted a fourth year included in the contract but the Red Wings wanted it at their option while Holmstrom wanted it guarenteed. Holmstrom will be 31 when the new deal ends, making him eligible for unrestricted free agency.

The contract was reported as done on local radio and ESPN.com last Thursday, but Holmstrom was unable to review it until the Labor Day weekend.