The Vancouver Canucks announced they’ve signed Elias Pettersson to an eight-year, $92.8 million contract extension. The average annual value is $11.6 million.
SPECTOR’S NOTE: TSN’s Chris Johnston reports Pettersson will carry the NHL’s fifth-highest cap hit starting next season. Toronto Maple Leafs center Auston Matthews leads the pack with $13.25 million, followed by the Colorado Avalanche’s Nathan MacKinnon ($12.6 million), the Edmonton Oilers’ Connor McDavid ($12.5 million) and the New York Rangers’ Artemi Panarin ($11.642 million).
It’s also just slightly more than Toronto’s William Nylander. On January 8, he inked an eight-year, $92 million contract ($11.5 million AAV).
Some of you will argue that the Canucks overpaid for Pettersson and that he’s not worth that much. However, the stats say otherwise. Since his Calder Trophy debut in 2018-19, he leads the Canucks in total goals (165) and points (398) while sitting third in assists with 165. He’s regularly finished among their top-two scorers each season (including two first-place finishes) except for his injury-shortened 2020-21 campaign.
Pettersson tallied a career-high 102 points last season, becoming the first Canuck to reach 100 points since Daniel Sedin in 2010-11 and only the fifth in franchise history to do so. With 75 points in 62 games this season, he could reach 100 points again.
The Canucks are enjoying their best season in years, jockeying for first place in the overall standings. They believe their Stanley Cup window is opening. To win hockey’s holy grail, they need a strong core.
Pettersson is key to that core and will remain so through his playing prime. If he maintains his recent offensive output throughout that contract it will be money well spent.