The Colorado Avalanche signed newly acquired netminder Philipp Grubauer to a three-year contract on Saturday, the team announced.

The deal reportedly carries a $3.33-million cap hit, according to Sportsnet's Elliotte Friedman.

The Avalanche obtained Grubauer from the Washington Capitals in a draft-day deal that saw the club part with its second-round pick. Colorado also acquired veteran defenseman Brooks Orpik as part of the trade, who was placed on waivers Sunday.

In 35 appearances last season, Grubauer posted a 15-10-3 record with a .923 save percentage.

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