Elias Pettersson’s decision to sign a behemoth contract extension with the Vancouver Canucks will be this year’s biggest trade deadline move. Period.
The Swedish forward inked a new eight-year pact with the Canucks on Saturday [2 March], quashing heavily-reported trade interest from the Carolina Hurricanes, who hoped to acquire the would be restricted free agent.
“I’m super excited; this is where I wanted to be,” Pettersson said upon signing his $92.8 million deal. “My parents have probably been nervous throughout this whole journey and contract talks and everything. Talking to them yesterday and just getting a little emotional with them, how big of a decision this is for us, yeah, [I’m] super happy.”
The 25-year-old, who is in the final season of the three-year contract he signed in 2021, said before the season that he intended to wait until the summer before signing a new deal.
So, what changed and how will this extension affect the Canucks and Pettersson in the months and years ahead?
Why did Elias Pettersson sign a new Vancouver Canucks contract?
The Canucks are on course for their most successful season in over a decade, with the team tied for second in the National Hockey League with 83 points (38-16-7) and a plus-47 goal-difference.
Pettersson’s reluctance to re-sign early emerged last season, after the Canucks finished sixth in the Pacific Division and missed the playoffs for a third consecutive year.
“I always wanted to play for a good team and I wanted to see where this team was heading,” Pettersson told rinkside reporters.
Elias Pettersson, Vancouver Canucks (Image: NHL)
Trade interest from Carolina was another factor in the Sundsvall-born forward’s decision to renew with the Canucks.
With Pettersson only a hop, skip, and jump from hitting unrestricted free agency in the summer of 2025, Vancouver general manager Patrik Alvin was reportedly open to trading him ahead of the deadline, protecting the franchise from losing its star forward for nothing.
Paired with Vancouver’s fine form and his instrumental role in the team’s success, trade chatter was enough to convince Petersson to commit his future to the Canucks.
What does the future hold for the Canucks and Pettersson?
Pettersson is an elite forward who, over the past two seasons, has grown into one of the most dangerous and productive players in the NHL.
The former fifth overall pick marked last term by exploding offensively, breaking the 100-point barrier for the first time with 39 goals and 63 assists in 80 appearances.
Pettersson is on-pace for a similar haul this time around, posting 75 points (29 goals, 46 assists) in 62 appearances to start the season.
There is no doubt that the Canucks and Pettersson will be well-served under their new deal, which will carry a cap hit of $11.6 million from next season, bringing him in line with the highest earners in the league.
“It was an exciting time for myself and the organisation when Elias committed or hinted he wanted to stay,” Allvin said. “There were never any doubts he never wanted to stay from my view. It was more about the trust and vision he wanted to see clear here and we respect that, but definitely an exciting week for us.”
For Pettersson and the Canucks, this extension marks the consolidation of a promising Stanley Cup window.
The future is bright in Vancouver.
