The Vancouver Canucks signed center Elias Pettersson to an eight-year contract extension on Saturday morning. According to reports, Pettersson’s deal carries an average annual value of $11.6 million. Pettersson was in the final year of his current deal worth an average annual value of $7.35 million. He was set to become a restricted free agent again this offseason.
There have also been plenty of trade rumors swirling around Pettersson and the Canucks the past few seasons. Despite the extension, this doesn’t completely close the door on a potential trade, but we’ll get into that a bit more.
Pettersson, 25, is in his sixth season in the NHL after being drafted fifth overall by the Canucks back in 2017. Pettersson made the jump to the NHL in 2018-19, winning the Calder Trophy as Rookie of the Year after finishing with 28 goals and 38 assists in 71 games. Last season, Pettersson set career marks in pretty much all major categories, finishing with 39 goals, 63 assists and 102 points, leading the NHL in shorthanded goals with five in 80 games. This season, Pettersson is on pace to come close to those marks, notching 29 goals with 46 assists through 62 games.
After many seasons of struggling, the Canucks brought in Rick Tocchet as head coach and it’s turned the franchise around. Vancouver enters Saturday with 83 points, the most in the Western Conference. A big reason why is the play of Pettersson, as well as forwards JT Miller, Brock Boeser and defenseman Quinn Hughes. Goalie Thatcher Demko is finally healthy, which is putting Vancouver in a good position to contend for the Cup for the first time since the late 2000s, early 2010 teams.
Elias Pettersson contract
What does it mean for Canucks, NHL Trade Deadline?
Just because Pettersson is signed to an extension doesn’t mean the Canucks aren’t going to trade him. Vancouver has Miller signed to a long-term deal worth $8M per season. The Canucks are going to have to extend Elias Lindholm after this season or let him walk to free agency after renting him from the Calgary Flames. Brock Boeser will need a new deal after next season. The blue line is also wide open.
Other than Hughes, who is signed through 2026-27 at $7.85M, the rest of the defense are pending unrestricted and restricted free agents. Filip Hronek will need a new contract, which could entail a decent raise from $4.4M. If Nikita Zadorov, Tyler Myers and Ian Cole aren’t retained, the Canucks will need to fill voids on the blue line in free agency or through their prospect pool. Carson Soucy and Tucker Poolman are on long-term IR and could return to take up those spots.
As for the trade deadline, again, the deal doesn’t mean Pettersson is untouchable. It would still be a bit surprising if he is moved after agreeing to the deal. But this also could be a precursor. A team trading for a player like Pettersson likely wouldn’t want to do so as a rental for the rest of the season. The Canucks would also want full value for the center. Look at the San Jose Sharks and F Timo Meier last season. The Sharks got very little in return from the New Jersey Devils because Meier was still on an expiring deal. He’d go on to sign an extension in the offseason.
Pettersson locked into a deal would mean Vancouver gets more back in a potential trade. The deal happening now just gets it out of the way before the deadline on March 8 at 3 p.m. ET. Still, with the Canucks competing at the top of the West and in position to make a Stanley Cup run, you’d think Pettersson stays put. With Miller and Pettersson locked in, the Canucks have their top-2 centers down the middle for the future. From there, it’s just filtering in wings who can play alongside that talent. The forward group is solid. It’s the future on the blue line that’s a bit unclear.
