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Canucks Sign Elias Pettersson to 8-Year, $11.6M Extension

The Vancouver Canucks have signed forward Elias Pettersson to an 8-year, $11.6 million per season contract extension.

The Vancouver Canucks have signed forward Elias Pettersson to an 8-year, $11.6 million per season contract extension. After months of waiting, the deal is finally done and Pettersson will be part of the Canucks roster for the long haul.

Darren Dreger noted on TSN Insider Trading this week that Pettersson’s AAV could come in slightly above William Nylander‘s $11.5 million per season. That was exactly right as Pettersson will be making $100K more per season.

As per Pierre LeBrun, the contract includes a full no-move clause and breaks down as follows:

  • 2024/25 $2,500,000
  • 2025/26 $4,500,000
  • 2026/27 $11,000,000
  • 2027/28 $9,450,000
  • 2028/29 $7,250,000
  • 2029/30 $3,700,000
  • 2030/31 $3,700,000
  • 2031/32 $3,700,00

Signing Bonus year by year:

  • $12,000,000
  • $10,000,000
  • $0
  • $5,000,000
  • $5,000,000
  • $5,000,000
  • $5,000,000
  • $5,000,000

Selected fifth overall by Vancouver in the 2017 draft, Elias Pettersson swiftly transformed from a core player to a franchise cornerstone. His Calder Trophy-winning rookie season in 2018-19 showcased his talent with 66 points, a feat repeated the following year. Last season saw him excel offensively, setting career highs with 39 goals and 63 assists, ranking tenth in NHL scoring.

Despite an injury-marred 2020-21, both parties settled on a three-year bridge deal, set to conclude this summer, making Pettersson a restricted free agent.

Elias Pettersson’s camp is open to talking, but there seems to be a willingness to slow-play his contract negotiations.

While expectations for a long-term deal arose last summer, Pettersson, indicating a preference for a decision in the offseason, fueled speculation about his commitment to the Canucks. Talks intensified to the point of reported trade discussions with Carolina before both parties prioritized negotiations, resulting in a successful resolution. Fortunately, all of that is in the past now and Pettersson will stay in Vancouver.

Pettersson noted in a statement:

“This is a very exciting day for me and my family. I am very happy to be continuing my career as a member of the Vancouver Canucks. I love this city and playing in front of the fans. We have an exciting group and believe we can do good things in the future. Both Jim Rutherford and Patrik Allvin have done a great job in building this team and creating a culture, along with Rick Tocchet. And lastly I want to thank the Aquilini family for this opportunity.”

What’s Next for the Canucks Now that Pettersson Is Signed?

The Canucks can now start planning for the NHL trade deadline and looking at contract extensions for other players. As per CapFriendly, Vancouver currently has slightly over $60 million committed to just twelve players for the upcoming season, with Filip Hronek leading the group of restricted free agents.

Notably, only two full-time regular defensemen are signed for the 2024-25 season, placing a significant responsibility on GM Patrik Allvin to allocate the remaining budget to reinforce the team’s defensive lineup.

Next: Jacob Markstrom Blasts Flames’ Handling of Trade Rumors

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