The Vancouver Canucks will be looking to further their rebuild this offseason. The plan will likely involve moving out whatever contracts they can to recoup futures like prospects and draft picks.
But there’s one contract that the club would love to move out, but is most likely stuck with. That’s Elias Pettersson.
The 27-year-old has been the subject of trade speculation since even before his extension kicked in last season. While rumors have suggested that several teams have shown interest in Pettersson, the likelihood of a trade is virtually null.
The reason is clear: Pettersson’s contract is pretty much untradable.
When the Canucks signed Pettersson to an eight-year contract extension, the deal seemed like a good idea. He was coming off a 102-point season. He seemed poised to become the NHL’s next big scorer.
Alas, that was not the case. Practically three years removed from that career year, it seems the 100-point outburst was an outlier. Pettersson’s numbers have regressed to his career means, suggesting the 2022-23 season was essentially a fluke.
That’s why his $11.6 million cap hit seems completely unreasonable.
Teams have shown willingness to talk about Pettersson. But the discussions haven’t gotten very far due to the Canucks’ reluctance to retain any salary on Pettersson. Until they do, the contract remains an albatross.
Should Canucks Just Keep Pettersson?
A valid question that consistently comes up is: Should the Canucks just keep Pettersson? Well, he has six years remaining on his current contract. If the plan is to include him in their rebuild, then the organization should certainly stop taking calls on him.
But the Canucks aren’t hanging up the phone. They are actively looking to move the former first-round pick from the 2017 NHL Draft. That’s what the chatter suggests.
Then again, what if Vancouver trades Pettersson and he thrives elsewhere?
That’s a risk the organization will have to take. It seems that he isn’t going to be making any more headway than he already has in Vancouver. So, would it be fair to think that Pettersson might just somehow flip a switch and score 100 points again?
With six years left on his current deal, the likelihood of his contract working out gets slimmer with each season.
Still, there’s one reason why trading Pettersson might become feasible down the line.
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Rising Salary Cap Could Help Vancouver
The rising salary cap could help the Canucks move Pettersson. Next season, the cap ceiling will rise to $104 million. In 2027-28, the cap will spike to $113.5 million. By the 2028-29 season, that figured projects to $123 million.
Those projections make a more realistic timeline for a Pettersson trade in 2027. The club may just need to hold onto Pettersson for one more season before potentially having a better shot of moving him.
While the rising cap could help the Canucks trade Pettersson, the club must be clear about one thing: They shouldn’t expect to get much in return for him unless they retain. But the rising cap and one more season off the books should make retaining on Pettterson’s contract a little more digestible.
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