Cam Ward returning to Carolina on two-year contract

Former playoff MVP and Stanley Cup winner Cam Ward has signed a two-year deal with the Carolina Hurricanes, choosing to stick with the only NHL team he has ever played for rather than test free agency this summer.

The Hurricanes announced Thursday that the goaltender's contract will pay him $3.5 million in the first year of the deal and $3.1 million in the second for an annual salary-cap hit of $3.3 million.

"Cam has been a major face of the Hurricanes both on the ice and in our community for more than a decade," general manager Ron Francis said in a statement. "We are happy he has chosen to continue his career in Carolina."

The 32-year-old is coming off a six-year deal that carried a $6.3 million average annual cap hit.

It had been expected that the Canes, who also have 28-year-old netminder Eddie Lack under contract for the next two seasons, would cut ties with Ward, whose performance has ebbed and flowed since the team won its only Stanley Cup behind the rookie netminder in 2006.

But Ward had a solid season for a rebuilding Hurricanes team, and management likely believes that having a veteran tandem in goal could benefit a promising if young defensive group and an emerging forward corps.

Ward appeared in 52 games for Carolina last season and turned in a 2.41 goals-against average and .909 save percentage.

After returning in mid-December from an injury, Ward produced an NHL-seventh-best 2.19 goals-against average and .919 save percentage in 30 games played through to the end of the regular season. He went 14-9-7 during that period.

The only remaining player from the Cup-winning team, Ward is Carolina's all-time leader with 269 wins and 23 shutouts.

The signing comes a day after Carolina acquired 21-year-old Teuvo Teravainen and 30-year-oldBryan Bickellfrom the Chicago Blackhawks for two draft picks.

The Hurricanes also agreed a one-year deal with center Derek Ryan worth $600,000 on the NHL level or $300,000 in the American Hockey League with a guaranteed minimum of $350,000.

The Associated Press contributed to this report.