BREAKING NEWS: Canucks Sign forward to 8-Year, $11.6M Extension
The Vancouver Canucks have secured forward Elias Pettersson with an 8-year contract extension worth $11.6 million per season. Following a lengthy negotiation period, the agreement is now finalized, ensuring Pettersson’s presence on the Canucks’ roster for the foreseeable future.
LOCKED UP 🔒
The @Canucks have signed Elias Pettersson to an eight-year extension! pic.twitter.com/VYY8P2qngr
— NHL (@NHL) March 2, 2024
Darren Dreger mentioned on TSN Insider Trading this week that Elias Pettersson’s Average Annual Value (AAV) might surpass William Nylander’s $11.5 million per season, which turned out to be accurate as Pettersson will earn $100,000 more annually.Chosen as the fifth overall pick by Vancouver in the 2017 draft, Elias Pettersson quickly evolved from a key player to a fundamental pillar of the franchise.
His outstanding rookie season in 2018-19, where he won the Calder Trophy with 66 points, was followed by another impressive year. In the most recent season, he excelled offensively, achieving career highs of 39 goals and 63 assists, placing him tenth in NHL scoring.
Despite facing injuries during the 2020-21 season, both parties agreed on a three-year bridge deal that will end this summer, making Pettersson a restricted free agent.Although there were expectations for a long-term contract last summer, Pettersson’s preference for a decision in the offseason sparked speculation about his commitment to the Canucks. Discussions even reached the point of reported trade talks with Carolina before both sides focused on negotiations and reached a successful resolution. Thankfully, all those uncertainties are now in the past, and Pettersson will remain with Vancouver.
In a statement, Pettersson expressed his excitement, stating:
“Today is a thrilling moment for me and my family. I am delighted to extend my journey as a part of the Vancouver Canucks. I have a deep affection for this city and enjoy playing in front of the passionate fans. With a promising team, I believe we can achieve great things in the future. Jim Rutherford, Patrik Allvin, and Rick Tocchet have made significant contributions in shaping our team and fostering a positive culture. Lastly, I extend my gratitude to the Aquilini family for this chance.”
What Comes Next for the Canucks After Pettersson’s Signing?
With Pettersson secured, the Canucks can now focus on strategizing for the upcoming NHL trade deadline and exploring contract extensions for their other players. According to CapFriendly, Vancouver currently has around $60 million allocated to twelve players for the upcoming season, with Filip Hronek being the notable leader among the restricted free agents.
Of particular significance is the fact that only two consistent full-time defensemen are under contract for the 2024-25 season. This places a substantial responsibility on GM Patrik Allvin to wisely allocate the remaining budget to bolster the team’s defense.
