Kings sign goaltender Erik Portillo to three-year contract extension (AAV: $783,333)

The Los Angeles Kings have signed goaltender Erik Portillo to a three-year contract extension, carrying an AAV of $783,333 at the NHL level. Portillo’s contract keeps him signed with the Kings through the 2026-27 season. The first year of the contract is a two-way deal and Years 2 and 3 are both one-way.

After he was acquired at the trade deadline in 2023, when he was still at the University of Michigan, Portillo made the transition to the professional ranks in 2023-24. He played 39 games with the AHL’s Ontario Reign and posted good splits, with a 24-10-3 record, a .914 save percentage and a 2.50 goals-against average. He ranked inside the league’s Top-10 in terms of save percentage (6th) and wins (T-7th). And that’s all goaltenders, not just rookies. Really promising season from Portillo, who is now locked in with the Kings for the next three.

Instant Analysis
The second-to-last domino has fallen for the Kings in terms of their restricted free agents.

Portillo inks a three-year contract extension, a deal that is similar to the second contract that Cal Petersen signed a few years back. The SECOND contract, not the third……the second. From a financial standpoint, it’s a contract that makes a lot of sense. When Petersen signed, his first year was a two-way deal, followed by two years on a one-way contract. For Portillo, he’s got one less year of AHL experience that Petersen did at that point, but his rookie season was quite strong, including an impressive postseason performance. This deal sets Portillo up to carry on as the starting goaltender with the Ontario Reign this season, with the hopes that he can continue to make strides forward and push for NHL minutes perhaps as soon as next season. Circumstance could always dictate that timeline changing, as can performance, but the terms of the contract reflect how the Kings see Portillo progressing.

It makes sense that the AAV would be low. Portillo has yet to appear in an NHL game, so something around the league minimum does make sense. Having Years 2 and 3 be one-way contracts though offers Portillo a bit of an extra financial guarantee regardless of where he plays, NHL or AHL. Hopefully, a contract that serves as a steal for the Kings in Years 2 and 3, setting up a bigger payday for Portillo after that, if his development continues as intended. If all goes according to plan, the internal hope is that Portillo is pushing for an NHL job as soon as next season. If he is able to do so, his contract comes at quite a bargain for an NHL netminder. If not, he’ll still have waiver exemption and would be able to be assigned to the AHL without issue to continue his development towards that ultimate goal. The NHL tandem is set for this season, with David Rittich and Darcy Kuemper, but Portillo is expected to handle a heavy workload in the AHL, alongside Pheonix Copley.

The Kings have set up a long-term succession plan in net, with Portillo the first younger netminder to have that opportunity to earn NHL time. Recent draft picks Carter George and Hampton Slukynsky are both quite promising but both are several seasons away from making an impact with the big club. Portillo is older – he’ll be 24 come training camp – and more experienced, with three collegiate seasons as a starting goaltender and now one in the AHL, where he was the starter from December through the end of the season, as well as throughout the Calder Cup Playoffs. A lot of excitement around all three, but it’s Portillo that is the closest to realizing his potential and making the next step. Big season for him to work towards an NHL chance.

With this signing leaves only forward Arthur Kaliyev as unsigned by the organization, with training camp approximately one month away. No updates at this time on Kaliyev’s status as an RFA.

From the team’s official release –

Portillo, 23, recently completed his first season of professional hockey with the Ontario Reign, the Kings’ American Hockey League (AHL) affiliate, posting a 24-11-3 record with a 2.50 goals-against average (GAA), a .918 save percentage (SV%) and two shutouts in 39 games. Among rookie netminders (min. 1,440 minutes), Portillo’s .918 SV% and 2.50 GAA placed fourth and sixth, respectively, while his 24 victories were the most by a rookie goaltender in Reign history. Portillo appeared in eight Calder Cup Playoff contests, establishing a 5-3 record with a 2.16 GAA, a .916 SV% and one shutout, while allowing three goals on 108 shots in his first four playoff outings.

Prior to turning pro, the 6-6, 220-pound netminder played three seasons of college hockey at the University of Michigan (Big-10). During his junior season in 2022-23, Portillo posted a 25-11-2 record in 38 NCAA games to help Michigan to a second consecutive Big-10 Conference tournament championship and a Frozen Four berth. His 25 wins were the second-most among conference goaltenders and third among all NCAA netminders.

A native of Gothenburg, Sweden, Portillo’s best season came during his sophomore year in 2021-22 where led the nation in saves (1,111) while ranking second in wins (31) and minutes played (2499:13) and fourth in win percentage (.750). His 31-10-1 record with a 2.14 GAA and .926 SV% earned him Big-10 Second All-Star Team honors, as well as nominations for both the Mike Richter Award and Big-10 Goaltender of the Year. In three NCAA seasons with the Wolverines, Portillo accumulated a record of 60-22-3 with a 2.49 GAA, .918 SV% and three shutouts.

Originally drafted by Buffalo in the third round (67th overall) of the 2019 NHL Draft, Portillo began his North American career in the United States Hockey League (USHL) with the Dubuque Fighting Saints in 2019-20, where he earned USHL Goaltender of the Year and First All-Star Team honors after registering a 19-5-1 record and one shutout with a 2.11 GAA and a .915 SV%. Portillo represented Sweden at the 2020 IIHF World Junior Championship, helping Sweden to a bronze medal.