Thay haven't officially named him the backup, but giving him a one-way deal suggests that the job is his to lose. Seems like most young up-and-coming players get two-way deals until they are ready for the NHL and even fringe vets have two-way deals paying them less money in the minors. So while it's not certain, it seems like they don't expect him to play in the minors much following this season.
His hockeydb page makes the same suggestion.
He'll be 23 next season and the organization spent a draft pick on him. He's been a well-regarded prospect (5th goalie drafted in 2018 and Canada's World Junior starter in 2020). He's a .920 goalie in the AHL while handling a true starter's workload and he was good in the AHL playoffs last year. Beyond the stuff that you can learn by reading his hockeydb page, he is a strong puck handler. That is a skill that gives him an immediate leg up on competition in our organization since our team is used to the starter handling the puck well.
The 2023/24 backup job has been his to lose for a while now. that's why we wouldn't give Lindgren the term he got from Washington and it's why we limited our backup search this year to guys who would accept a 1 year deal.
With that said, our organization has demonstrated a willingness to spend money on the AHL roster to ensure depth. Most our league minimum signings this summer were either 1 way deals or were 2 ways deals paying $300-$400k AHL salaries. Pitlick is on a 1 way deal and has been in the AHL most the season. MacMac was on a 1 way deal in each of his final 3 seasons with the Blues. For our organization, offering guys 1 way deals or lucrative AHL salaries has been consistently used to get guys to take NHL minimum salaries, but has not been a guarantee of an NHL roster spot. This contract simply reflects what his performance has dictated so far this season: he is a legit NHL goalie prospect who looks poised to make the leap form the AHL to the NHL.