Kiprusoff's play remained strong upon his return, as he was counted on to lead the Flames to the playoffs for the first time in eight years. A 1–0 victory over the Phoenix Coyotes clinched a berth in the 2004 playoffs for the Flames, an achievement which earned Kiprusoff a standing ovation from the Calgary fans. He finished the regular season with a modern NHL record-low GAA of 1.69. His stellar play continued into the playoffs, as he won 15 games, five of them via shutout, leading the Flames to within one victory of a Stanley Cup championship. He was named a finalist for the Vezina Trophy, awarded to the best goaltender in the League, and was given a one-year, $2.95 million contract for 2004–05 by an arbitrator, an increase in salary of nearly four times his previous contract.