Vancouver Canucks Analysis: Demko Making Waves Early
By David Joun
Just what have the Vancouver Canucks done to Thatcher Demko?
After weeks of speculation around the Vancouver Canucks, top prospect netminder Thatcher Demko is finally a Canuck. There is no question that the Canucks are looking at the 20-year-old to be the next one in net after Jacob Markstrom‘s tenure comes to an end.
Craig Button was on TSN 1040 on Friday, describing Demko as an elite prospect alongside fellow Canuck prospect Brock Boeser. Despite all the worry about Demko possibly pulling a Jimmy Vesey and turning to Free Agent after next season, the Canucks have him secured for the next three years.
But there is a catch here.
Three is a lot between the lines on Demko’s first pro contract. And despite Demko’s claims that he has never thought of pulling a Vesey, something tells me that there is more to the contract than just putting the ink on the dotted line.
A Massive ELC: The Markstrom Comparison
My speculation, of course, comes thanks to how massive a financial commitment the Canucks are making to Demko.
The Canucks are sure showing faith in Demko’s development. A three-year entry-level contract with a $2.94 million annual average value after bonuses? That is a $8.825 million commitment for a 20-year-old college graduate who has yet to play a single pro game in the AHL, let alone the NHL.
To put that into perspective, here’s a comparison for you.
In Canuck netminder Jacob Markstrom’s top-prospect days, he was deemed one of the best netminder not playing in the NHL. The Florida Panthers picked him 31st overall in the 2008 NHL Entry Draft, a draft that featured top picks Steven Stamkos and Drew Doughty, second round steals like Roman Josi, Travis Hamonic, and Derek Stepan.
Just for a little Canuck note here, Vancouver chose Cody Hodgson in the first round.
D Charlie McAvoy — Draft Profile Faceoff — D Kale Clague
Anyhow, this same Markstrom signed his ELC in the summer of 2010 when he was 20 years old, a three-year contract worth $1.3 million annually and $3.9 million in total, bonuses included.
Markstrom then went on to sign a two-year extension with the Panthers, one that paid him $2.4 million in total.
And now here he is in Vancouver, with one more year to go on his two-year contract handed out by our own Jim Benning. The contract pays out at $3.1 million.
Add those figures up and Markstrom’s career to date is adding up to a $9.4 million sum.
With a single ELC, Thatcher Demko is set to make a sum just $575,000 shy of what Jacob Markstrom has made in his entire pro career to date.
Wow.
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So am I really in no man’s land in speculating that Demko may have played a bit of a waiting game with the Canucks in turning pro? It is either that or GM Benning feeling very generous with his prized prospect in fears of losing him.
Of course, these figures only get paid if Demko meets the bonus requirements. Even if Demko meets these requirements, the bonuses will figure towards the bonus cushion which allows the team to endow bonuses without (strictly) cutting into the salary cap.
The details of the bonus requirements have not been disclosed. We do know, however, that Demko is guaranteed a $2.55 million bonus over the three years regardless of how many games he plays.
And he already received $277,500 by signing the dotted lines. Good to be a pro, eh?
Although this isn’t at all anything to be concerned about, one has got to wonder if Demko is worth the money right this moment. Also, what does the Hobey Baker winner Jimmy Vesey fetch in the open market?
To end on a bright note here is a highlight pack of Demko’s college tenure. Enjoy.
Next: ANALYSIS: Thatcher Demko Owns Team USA's Crease
Demko will be a fine netminder, being ranked the top Canuck prospect par The Hockey News. And his entrance into the pro ranks is making quite the noise. Take note, Vancouver.