MLive.com and the Macomb Daily report the deal is worth $1.85 million. Gustavsson made $1.5 million in 2013-14, the second year of a two-year deal.
Gustavsson has spent the past two seasons backing up Jimmy Howard in Detroit. He was 16-5-4 in 2013-14 with a 2.63 goals-against average and a save percentage of .907. He was 0-2 with a 2.71 GAA and a .917 save percentage against the Boston Bruins in the Stanley Cup Playoffs.
The 29-year-old Swede has a 57-52-20 career record in 141 games for the Red Wings and Toronto Maple Leafs. He was eligible to become an unrestricted free agent on July 1.
It is really special. I had a lot of friends and family here tonight, and for my first [NHL] game in here it was great. I played here as an elementary-school player in the city championships and this was my first time back. It was a lot of fun.
— Toronto native Brandon Pirri after scoring 2 goals for Panthers in win at Maple Leafs on Thursday