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Cap space shrunk. Time ran out. Now Philipp Grubauer has left Avalanche for Seattle.

Goalie Philipp Grubauer was the third signing priority for the Avalanche behind star defenseman Cale Makar and long-time captain Gabe Landeskog.

After the latter two re-upped on long-term deals and Grubauer became the Avs’ focus, the budget was likely too small to squeeze in the Vezina Trophy finalist. Then Colorado ran out of time.

“They had their time, and they had their opportunity, but in the end, we couldn’t get it done in time,” Grubauer said of the Avs via TSN.

Grubauer, who led the NHL with a 1.95 goals-against average in 2021, ended a three-season run with the Avalanche on Tuesday when he agreed to a six-year contract with the expansion Seattle Kraken in free agency.