The Vancouver Canucks signed defenceman Marcus Pettersson, acquired in a trade with the Pittsburgh Penguins, to a six-year, $33 million contract extension Wednesday, signaling a big win for general manager Patrik Allvin and Co.
Pettersson, 28, will carry a $5.5 million AAV through 2031, when he will turn 35 years old as an unrestricted free agent. From there, Pettersson can sign another lucrative short-term contract should he still be performing at a high enough level to earn one.
Vancouver Canucks General Manager Patrik Allvin announced today that the club has agreed to terms with defenceman Marcus Pettersson on a six-year contract extension with a $5.5M AAV. pic.twitter.com/cyafoUM5Xg
— Vancouver Canucks (@Canucks) February 6, 2025
It is also worth noting that Pettersson, who has long served as the Penguins' No. 1 left-shot defenceman, including when Allvin was still in Pittsburgh, took a very small raise on his previous/current contract. Pettersson's current contract, which expires at the end of this season, carries a modest cap hit of only $4.025 million.
For a player of Pettersson's quality who drives play on offence and defence, this is a steal for the Canucks, especially considering the supporting cast, or lack thereof, behind captain Quinn Hughes. By extending their new Swede long-term, the Canucks have finally secured a viable No. 2 or No. 3 option behind Hughes.
Additionally, it is reasonable to assume that Hughes's future in Vancouver is not guaranteed with the Canucks struggling to consistently reach the postseason in tandem with the locker room drama that emerged from the background as a result.
If Hughes does leave to join brothers Jack Hughes and Luke Hughes on the New Jersey Devils, Pettersson's long-term contract ensures the Canucks' defence is not a complete embarrassment devoid of any true building blocks in the future.
Prospects like Elias Pettersson and Tom Willander are nice, but the former is just now cutting his teeth at the NHL level while the latter is plying his trade in college in the NCAA. Both players are promising prospects who won't yet be at the peak of their powers in two years.
By extending Pettersson almost immediately after trading for him, the Canucks earned themselves a big win, both for now and in the future.