The terms of the deal were not officially released but previous reports indicated the deal would carry an annual average value of $5.3 million, which would pay Howard around $31.8 million over the course of the agreement.
General manager Ken Holland stated that Howard is entering the prime of his career and gives the Red Wings a chance to win every night. Labeling him as one of the franchise's top players, Holland stated that Howard can play the majority of an 82-game season and has committed himself to improving every year.
Howard is playing in the final year of a two-year, $4.5 million contract that carries an AAV of $2.25 million per season. He was scheduled to become an unrestricted free agent this summer.
Howard has posted a 17-12-6 record with a .920 save percentage, 2.31 goals-against average and three shutouts in 36 appearances this season.