Report: Canucks Make Breakthrough in Elias Pettersson Contract Negotiations

According to a report from Daily Faceoff’s Frank Seravalli, the Vancouver Canucks have made significant progress on a potential long-term extension with superstar center Elias Pettersson.

In recent days, some reports surfaced that the Canucks were getting frustrated with the lack of progress in negotiations with Pettersson and his camp, but that no longer seems to be the case. According to Seravalli, the contract extension is believed to be for eight years and could be completed in a matter of days.

Sources say #Canucks have made significant progress with superstar Elias Pettersson working on what is believed to be an 8-year contract extension.

Not done, but big development, and a new deal could be finalized in the coming days.@DailyFaceoff

— Frank Seravalli (@frank_seravalli) February 29, 2024

Pettersson, 25, is in the final year of a three-year, $22.05 million contract he signed with the Canucks on Oct. 1, 2021. The 6-foot-2 center was eligible to officially sign an extension with the Canucks on July 1, but that, obviously, never came to fruition.

It’s been an up-and-down season for Pettersson, who has combined stretches of dominance with stretches of middling play that don’t showcase the game-breaking talent he possesses. Canucks head coach Rick Tocchet told the media earlier on Wednesday that Pettersson has been “ok” and suggested that the constant talk around him and his contract situation has played a part in that.

If or when Pettersson does sign this long-term extension with the Canucks, it will mean one less thing on general manager Patrik Allvin‘s plate for the summer. Some other notable Canucks free agents include Elias Lindholm, Teddy Blueger, Sam Lafferty, Dakota Joshua, Filip Hronek, Nikita Zadorov, and Casey DeSmith.

It’s unclear at this time how much money Pettersson will earn in this deal, but it will likely have a significant impact on the Canucks’ summer business, given the team’s current salary cap constraints. That will only get worse as the dog days of the Oliver Ekman-Larsson buyout rapidly approach.

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