To quote Frodo Baggins in Lord of the Rings: The Return of the King, “It’s done.” Finally, after months of waiting, the Vancouver Canucks have reportedly signed Elias Pettersson and Quinn Hughes to new contracts.
Reports by Rick Dhaliwal of CHEK TV, and Thomas Drance of The Athletic on Thursday afternnon said that the Canucks and CAA (Pettersson and Hughes’ agency) were making progress in the contract talks.
Talks this afternoon on-going.
— Rick Dhaliwal (@DhaliwalSports) September 30, 2021
Rumour was Hughes was closer but been told deals for both players are being done at same time. https://t.co/2zd05BhUYv
TSN’s Darren Dreger reported that talks were also “heating up.”
Further to our reporting on Insider Trading. Things continue to heat up in Vancouver in negotiations on Pettersson and Hughes.
— Darren Dreger (@DarrenDreger) September 30, 2021
Shortly after 5 PM, Sportsnet 650’s Satiar Shah reported that Hughes was getting a six-year contract worth 7.75 million per season.
Hearing Hughes nearing a 6 year deal worth slightly above $7.75M per year with the Canucks
— Satiar Shah (@SatiarShah) October 1, 2021
That meant Pettersson’s deal was close.
Shortly after Shah reported Hughes’ deal, The Fourth Period’s Irfaan Gaffar broke the details of Pettersson’s contract.
Believe Pettersson’s will be a three-year deal. https://t.co/eKV4OVBbgT
— Irfaan Gaffar (@irfgaffar) October 1, 2021
Sounds AAV for Pettersson will be under $8 million on a three-year deal.
— Irfaan Gaffar (@irfgaffar) October 1, 2021
Dhaliwal then reported the AAV for the Canucks centre.
Petersson could be 3 times 7.7M
— Rick Dhaliwal (@DhaliwalSports) October 1, 2021
Dreger then reported that the final AAVs for Pettersson and Hughes were still being finalized.
As reported, the term for Hughes is 6 years and the term for Pettersson is 3 years. Two side are still grinding on the final details before signing off on exact aav for each.
— Darren Dreger (@DarrenDreger) October 1, 2021
Iain MacIntyre of Sportsnet reported that the Canucks won’t announce anything on Thursday, likely due to Truth and Reconciliation Day.
Doesn't mean deals for Pettersson and Hughes won't be completed, but Canucks official says nothing will be announced tonight. Sounds like Friday will be a big news day.
— Iain MacIntyre (@imacSportsnet) October 1, 2021
The Canucks signed Hughes long term and it was likely because his RFA 10.2c status gave him leverage. Compared to what other defencemen got in the market this offseason, Hughes’ 7.75 million dollar AAV is a steal.
Pettersson got a bridge deal and to get him under eight million dollars also is a solid deal. Due to the Canucks cap situation, a bridge deal made sense. It would have been better to go long term on the star centre but it is what it is.
Pettersson and Hughes re-signing comes in light of Travis Hamonic’s situation. Hamonic did not attend training camp due to family reasons and it has been reported that he is considering opting out of the season, retiring or coming back. He has until Friday to make a decision.
UPDATE: Sportsnet’s Elliotte Friedmann officially confirmed the AAVs of the contracts.
What are your thoughts on Pettersson and Hughes’ contracts? Let us know in the comments below.