According to Ryan Clark of The Athletic, the deal has an annual cap hit of $2 million.
In 24 games this season, Francouz has a 14-5-3 record with a 2.44 GAA and a .923 save percentage. The 29-year-old was a pending unrestricted free agent after signing a one-year, $950,000 deal this past off-season.
“We are excited to have Pavel under contract for another two seasons,” said Avalanche general manager Joe Sakic in a release. “He has been an important part of our team this year and has performed really well, especially when we needed it most. He is a hard-working professional, a great teammate and has earned his opportunity in the NHL.”
Francouz originally joined the Avalanche in 2018 as an undrafted free agent out of the KHL, making two appearances in the NHL and 49 in the AHL with the Colorado Eagles while posting a 2.68 GAA and a .918 save percentage.