Elias Pettersson signs biggest contract in Canucks history

The 25-year-old Elias Pettersson has singed a $92.8-million contract which is by far the largest in franchise history. It makes Pettersson among the highest-paid players in the National Hockey League and guarantees the Canucks cost certainty and a foundational piece for the next eight years.

After news broke earlier in the week that negotiations had picked up again, the Canucks announced the extension shortly after dawn on Saturday morning. Starting with the 2024/25 campaign, the contract extends Pettersson for the next eight years at a cap hit of $11.6 million. The announcement was made at around 7am Vancouver time.

Earlier this week it was reported that the Carolina Hurricanes were interested in Pettersson, which may have helped kickstart the negotiations. If no contract was signed by the trade deadline (March 8) it was possible that the Canucks could have looked to move him, instead of risking losing him for nothing in free agency.

“This is a very important signing for the Vancouver Canucks,” said Allvin. “Elias is one of the top players in the National Hockey League and is a key member of our leadership group. We know his best days are ahead of him and with his high end skill and desire to be the best, we look forward to seeing Elias succeed and grow. This signing is another example of our ownerships’ unwavering commitment to do what ever it takes to help us be a successful organization.”

“This is a very exciting day for me and my family,” said Elias Pettersson. “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.”

Pettersson, 25, has appeared in 62 games this season, tallying 75 points (29-46-75), 8 penalty minutes and a +12 plus-minus rating. He currently ranks second amongst all Canucks skaters in points (75) and third in goals (29) and assists (46).

In the 2022-23 campaign, Pettersson earned a career-high total of 102 points (39-63-102), 14 penalty minutes and a plus-minus rating of +16 over 80 games, leading the club with the most points (102) and tying Andrei Kuzmenko for most goals (39).

With this contract, Pettersson could essentially be a lifelong Canuck. Once this contract expires he will be turning 34. Which means he will most likely sign one more contract and could possibly retire as a Canuck, just like the Sedin twins.

This is a good signing for the team and will help keep the team competitive over the next several years.

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