Should Canucks and Loui Eriksson agree to a contract termination?

Loui Eriksson’s tenure with the Vancouver Canucks has been nothing short of a disappointment. Should the two sides agree to a contract termintion?

Despite a mid-season resurgence of sorts on the Vancouver Canucks‘ second line, Loui Eriksson’s days as a key offensive contributor are long gone. Even with some more than capable minutes in a defensive-minded role, he still found himself in the press box frequently this past season.

As Eriksson’s $3 million signing bonus was just paid on July 1, many have wondered if a mutual contract termination between the two sides could finally end “The Little Things” saga in Vancouver. But is this really a plausible outcome, or just wishful thinking from Canucks fans?

In a recent radio segment on TSN 1040’s Halford & Brough show, Rick Dhaliwal shared his thoughts on the idea:

"“I know there’s been rumblings (from fans) that Loui Eriksson is going to retire or not show up to the hub city. But guys, would you walk away from $8 million? No, you wouldn’t. So why do people think Eriksson is going to walk away from (his contract)? … whether it’s in Vancouver or Utica, Loui Eriksson is going to collect his money. Nobody walks away from that.”"

Dhaliwal presents a fair point in that Eriksson has no real reason to walk away from his deal, even if it’s a “measly” $5 million left over the final two years of his deal after his recent signing bonus. With that said, contract terminations do exist within the National Hockey League, and are actually more common than some think.

Mutual termination

As recent as this season, the Winnipeg Jets and defenceman Dustin Byfuglien terminated the remaining two years and over $14 million dollars on his contract.

The termination stemmed from a long dispute between the two sides, including a disagreement on injury rehabilitation and a hesitant Byfuglien considering retirement.

Another recent example includes the contract termination of Patrik Berglund’s deal with the Buffalo Sabres in 2018. Berglund, a major piece in the Ryan O’Reilly trade, later referenced a diminishing passion for the game as one reason why he opted for the termination. In doing so, Berglund chose to walk away from over $12.5 million dollars.

Other notable players waking away from their deals includes Ilya Kovalchuk in both 2013 (12 years, $77 million) and 2019 (one year, $4.65 million), Alexander Semin in 2015 ($1.1 million), and Vadim Shipachyov in 2017 (two years, $9 million), as the latter two opted to finish their respective careers overseas.

The other options?

Of course, there’s still a number of other options the Canucks could take, albeit unlikely.

The team has surely inquired about moving him in a trade, but a sweetener in any deal — particularly when the salary cap remains flat, could amount to any combination of high-level prospect(s) and/or high draft picks, something they’re likely reluctant to do.

Another option for the team could be a buyout, but that again wouldn’t really help their long-term cap struggles. Remember, Ryan Spooner’s buyout and Roberto Luongo’s cap recapture penalty are currently eating up a collective $4 million in dead cap space, so it’s hard to believe the Canucks would be eager to add to that amount.

The final hope is the slim potential of compliance buyouts making a return. Owners have shown a reluctance in the past however, and as Larry Brooks of the New York Post recently reported many agents do not believe compliance buyouts will even be making a return this off-season anyways.

Don’t hold your breath

For what it’s worth, there are a myriad scenarios the whole Eriksson saga could play out, but chief among them is the Swede playing out the remainder of his contract and finishing his career in Vancouver.

With that said, Eriksson could be satisfied with over $56 million in career earnings to date, have lost his passion for the game, have a desire to finish his career back home in Sweden, or simply not want to risk his health with a looming pandemic in the twilight of his career.

There are certainly some possibilities as to why Eriksson may see appeal in a contract termination, but there’s also a big separation between wishful thinking from Canucks nation and being rooted in reality.