Pettersson signs 8-year, $92.8 million contract with Canucks

Elias Pettersson signed an eight-year, $92.8 million contract with the Vancouver Canucks on Saturday. It has an average annual value of $11.6 million.

The forward could have become a restricted free agent after this season.

"I'm super excited; this is where I wanted to be," Pettersson said. "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 a three-year, $22.05 million contract ($7.35 million average annual value) signed Oct. 3, 2021, said before the season that he preferred to wait until it was over before signing a new contract, admitting he wasn't sure if he wanted to commit to a short- or long-term deal.

So, what changed?

The Canucks' success this season played a role.

Vancouver was coming off a sixth-place finish in the Pacific Division (38-37-7) and had missed the Stanley Cup Playoffs for a third straight season when Pettersson first said last summer he wanted to wait. Now, the Canucks (38-17-7) are tied for third in the NHL with 83 points and are second with a plus-47 goal differential.

"I always wanted to play for a good team, and I wanted to see where this team was heading," Pettersson said.

Pettersson has liked that direction since Jim Rutherford took over as president of hockey operations Dec. 9, 2021, hiring Patrik Allvin as general manager Jan. 27, 2022, and Rick Tocchet as coach Jan. 22, 2023.

"What they've been doing ever since they came in: first off building a culture, a winning culture for us to succeed, doing renovations in the rink, everything is trending in the right direction and I always wanted to stay but the more I saw, it just made it even more clear," Pettersson said. "I was an RFA at the end of the season and I didn't feel the rush to sign. But then more talks with Jim and Patrik, seeing the direction on the team, I always wanted to stay here but just seeing the commitment from them, we wanted to get it done before."

Pettersson has 75 points (29 goals, 46 assists) in 62 games this season. Selected with the No. 5 pick in the 2017 NHL Draft, he has 398 points (165 goals, 233 assists) in 387 regular-season games, all with Vancouver, and 18 points (seven goals, 11 points) in 17 playoff games.

"It was an exciting time for myself and the organization 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."

With the contract done, Pettersson is looking forward to focusing on hockey again, admitting that some of the outside attention on his contract status, which included one report of a possible trade, could become distracting.

He has one goal and two assists in the past seven games, coinciding with a season-worst 1-5-1 slump for the Canucks, which includes their only four-game losing streak this season.

"I'm human," Pettersson said. "Of course I put pressure on me and know what's ahead, but I know what I was getting myself into and I know it was going to be a big decision. That's why I wanted to wait to make sure I make the right decision for my life personally, and I am super happy and super excited to be here."

Teammates even noticed a difference in practice shortly after the announcement.

"Honestly, I did," captain Quinn Hughes said. "Just seeing him, I think it was a little bit of a weight off his shoulders. I think he handled it really well the entire year and didn't make a big deal out of it or talk about it at all, but of course, it's going to be in the back of your mind, even if it's one percent or two percent."

Brock Boeser, who has been in Vancouver for all six of Pettersson's seasons and often plays on the same line and power play, agreed.

"I do think, regardless if you say [the contract is] not in your mind, it's obviously in your mind," Boeser said. "That's a lot of money and it's a big commitment and I'm just happy that he can put it past him and really just focus on doing what he does best and that's being a leader and producing for our team."