Thatcher Demko is cashing in.
According to multiple reports, the Vancouver Canucks have signed their starting goaltender to a five-year, $25 million contract extension. The deal would keep Demko signed through the 2025-26 season and carry a $5 million cap hit.
The contract is not yet official but has been reported by TSN’s Frank Seravalli, Sportsnet’s Elliotte Friedman, and CHEK’s Rick Dhaliwal.
— Frank Seravalli (@frank_seravalli) March 31, 2021
Demko and VAN 5×5
— Elliotte Friedman (@FriedgeHNIC) March 31, 2021
Demko 5 years and 25 million
— Rick Dhaliwal (@DhaliwalSports) March 31, 2021
Demko, who was set to become an unrestricted free agent in the offseason, has established himself as a No. 1 goalie this year. The 25-year-old San Diego native has been named an NHL Star of the Week on two occasions and has a sparkling .917 save percentage.
The $5 million cap hit would rank Demko tied the 12th-highest cap number among NHL goalies next year, level with Robin Lehner and Semyon Varlamov. None of the goalies ahead of Demko on the list are younger.
— Rob Williams (@RobTheHockeyGuy) March 31, 2021
The focus from a Canucks perspective will now shift to Elias Pettersson and Quinn Hughes, who are set to become restricted free agents this summer and also each in line for big pay raises.