The Calgary Flames goaltender has signed a seven-year extension with an average annual value of $7.5 million, the NHL club announced Tuesday.

“I think it sends a good message to everybody. I mean, people want to be in Calgary, and they believe that we have a chance to win here,” Flames general manager Craig Conroy said after the signing, per Sportsnet’s Eric Francis.

Sportsnet’s Pat Steinberg reported Wolf has a 10-team no-trade list in the final five years of the new deal.

After playing 17 games for the Flames in 2023-24, Wolf became Calgary’s No. 1 when Jacob Markstrom was traded to the New Jersey Devils in June 2024.

Wolf, 24, took full advantage of the opportunity, posting a 29-16-8 record with a 2.64 goals-against average and .910 save percentage. He was named a finalist for the Calder Trophy as NHL rookie of the year in a season in which the underdog Flames stayed in the playoff race until the final days of the campaign.

The California-born Wolf has seen his stock climb dramatically since being picked in the seventh round (214th overall) of the 2019 NHL Draft by Calgary.

After graduating from the WHL’s Everett Silvertaps, where he was named CHL goaltender of the year in 2020, the six-foot Wolf put up great numbers in the AHL. He was named the AHL’s top goaltender in 2021-22 and 2022-23 and was MVP the latter season.

Wolf has loved his time in Calgary.

“Yeah, I think it’s a great city. The fans are great,” Wolf said Monday in Henderson, Nev., during a recording of 32 Thoughts: The Podcast with Elliotte Friedman and Kyle Bukauskas. 

“It’s a big city that has a small-town feel. Everyone kind of knows everyone. You cross paths with one person, then you know another. Next thing you know, you’re connected with other people in the city. And obviously we have a new building coming (in) two summers here. It’s an exciting time.”

Wolf has quickly become a favourite of fans and teammates in his adopted NHL city, going viral by wearing a Shania Twain T-shirt to the chuckwagon races at this summer’s Stampede.

Though he never anticipated slipping to 214th at the 2019 draft, he said he believes things have worked out well in Alberta.

“I was very thankful for them to take a swing. I didn’t plan on sitting for that long,” Wolf said. “I’m glad Calgary took a swing. I love the city. I love everything about it.”