Vigneault had one year left on his contract, which was replaced by the extension. He'll reportedly make $4 million in 2017-18 and 2018-19, and $4.25 million in 2019-20.
"I gave it, obviously, a lot of thought, but I feel with the young kids that we're bringing in, whatever you want to call it, the retooling, I believe we can win and can compete in a very tough league," Vigneault said. "It was a pretty easy decision as far as you're a coach and you want to have a chance. You've got a first-class organization, so it didn't take me long."
Vigneault, 55, is 175-97-23 since becoming Rangers coach in 2013-14, when they lost the Stanley Cup Final to the Los Angeles Kings in five games. He leads Rangers coaches (minimum 100 games) with a .632 points percentage. The Rangers are first in the Eastern Conference and third in the NHL in wins since he came to New York.
"It's been great for my game since he joined the Rangers," defenseman Ryan McDonagh said. "A lot of great things with this team over the years and some deep playoff runs. I think if you ask him, he's hoping to accomplish the ultimate goal like us players."
Vigneault coached the Vancouver Canucks and the Rangers to the Presidents' Trophy; the Canucks lost the 2011 Final to the Boston Bruins in seven games after holding series leads of 2-0 and 3-2 with home-ice advantage. The Rangers also lost Game 7 of the 2015 Eastern Conference Final to the Tampa Bay Lightning at Madison Square Garden.
"I'm working my butt off to win the ultimate thing," Vigneault said. "I've come close. I feel like I've never been more driven that I am at this point.
"My teams have won. I haven't won that one game. I'm working my butt off to do it."
The Rangers (31-17-1) are fourth in the Metropolitan Division. They've scored 165 goals, second-most in the NHL. They play the Columbus Blue Jackets at home on Tuesday (7 p.m. ET; MSG 2, FS-O, NHL.TV).
"If you look at some of the things that we have done, a lot of people wouldn't have expected us to be where we are," Vigneault said. "It's my job with the staff and the management to continue to improve this team. It's my job to continue to improve the one-ice product."
Vigneault is 597-385-84 with 35 ties in 1,101 NHL games with the Montreal Canadiens, Canucks and Rangers. He coached his 1,100th game on Jan. 23, a 3-2 win against the Kings. His 1,102nd game will come against the Blue Jackets on Tuesday and will tie him with Billy Reay for 17th place on the NHL list.
"I hit 1,100 games a couple of days ago and I can honestly say I've learned every step of the way, stayed humble, taken my job very seriously but I don't think I've taken myself seriously," Vigneault said. "I know how privileged and fortunate I am to be in this position."
