Done deal: Canucks sign Elias Pettersson to $92.8 million contract

Charles LeClaire/USA TODAY Sports

Vancouver Canucks fans can all breathe out a sigh of relief together.

This morning, the Canucks announced that they have signed Elias Pettersson to an eight-year contract extension. The deal will reportedly pay Pettersson $92.8 million, carrying an average annual value of $11.6 million. It will include a no-movement clause beginning in 2025-26. As per Capfriendly, here is how the salary structure will break down.

#Canucks Elias Pettersson
8 year extension

Contract Breakdown
Yr 1: $2.5M base + $12.0M SB
Yr 2: $4.5M + $10.0M
Yr 3: $11.0M
Yr 4: $9.45M + $5.0M
Yr 5: $7.25M + $5.0M
Yr 6: $3.7M + $5.0M
Yr 7: $3.7M + $5.0M
Yr 8: $3.7M + $5.0M

Full NMC in UFA yearshttps://t.co/HHeCu4hrFF

— CapFriendly (@CapFriendly) March 2, 2024

The 25-year-old is having another superb season with 29 goals and 75 points through 62 games.

Vancouver Canucks General Manager Patrik Allvin announces that the club has agreed to terms with forward Elias Pettersson on an eight-year contract. pic.twitter.com/pFtXs2Gm3N

— Vancouver Canucks (@Canucks) March 2, 2024

CHEK TV’s Rick Dhaliwal reports that the two sides had discussed a shorter-term deal which would have been closer to the 4-5 year range. In the end, they used William Nylander’s recent eight-year, $92 million extension as a comparable.

This is huge for the two sides to get completed, as Pettersson’s contract situation had become a major distraction as of late. There were questions about his desire to remain in Vancouver. The Canucks even discussed the possibility of trading him, as Sportsnet’s Elliotte Friedman revealed they had trade discussions with the Carolina Hurricanes in regards to the Swedish superstar.

The Canucks have been struggling as of late, with a 4-5-1 record over their last 10 games. No longer having to hear about Pettersson’s situation and talk to the media about it should help this team get back on track and start playing again like the Stanley Cup contenders many believed them to be.

With Pettersson re-signed, the only pending RFA remaining on the Canucks’ roster is Filip Hronek. The 26-year-old is on a deal that carries a cap hit of $4.4 million but is expected to see a significant rise on a new contract.

With this noise now silenced, the Canucks will look to get back to their winning ways tomorrow night as they are set to take on the Anaheim Ducks at the Honda Center. The puck drop is set for 5:00 pm PT.

You might also like:

Canucks send winger Arshdeep Bains back to AHL