Elias Pettersson's eight-year extension with Canucks sees "big development": Report

According to Frank Seravalli of The Daily Faceoff, the Vancouver Canucks and forward Elias Pettersson are making strides toward a contract extension spanning eight seasons. Previously resistant to extension talks during the season, Pettersson's change in attitude signals progress for both parties.

The potential deal, expected to be finalized in the coming days, prompts speculation about the financial terms. With the Canucks holding approximately $35.74 million in cap space for the offseason, negotiations center around Pettersson's value.

Comparing his recent performance and contracts with similar-caliber players, the extension could fall within the range of $11 million to $13 million annually.

Elias Pettersson's on-ice contributions underscore his significance to the Canucks. Over the past two seasons, he has notched 68 goals and 177 points in 141 games, positioning himself as a key asset. Currently, Pettersson ranks 10th in league scoring and is anticipated to contend for higher accolades, unlike his 118th-place finish in Hart Trophy voting last season.

However, the extension's implications extend beyond Pettersson's tenure. Given the Canucks' cap constraints, accommodating the new deal may preclude extending Elias Lindholm, who seeks an average annual value (AAV) of $9 million. This strategic decision reflects the challenge of balancing multiple high-value contracts within a tight salary cap environment.

Nonetheless, locking Pettersson, alongside J.T. Miller and Quinn Hughes, solidifies Vancouver's core for the foreseeable future. This cohesion enables the Canucks to allocate resources towards enhancing their roster and fortifying their competitive standing in the league.

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Frank Seravalli identifies potential trade destinations for Elias Pettersson

Frank Seravalli has pointe­d out some possible trading options for Pette­rsson if he chooses to decline­ the extension, as follows:

Toronto Maple­ Leafs: It's suggested by Se­ravalli that the Leafs could consider a de­al that includes Nylander, Marner, and a fe­w prospects.

Washington Capitals: Capitalizing on their championship window is what Seravalli fe­els the Capitals could do if they se­cure Pettersson, constructing a formidable­ line featuring Ovechkin and e­ither Strome or Wilson.

Buffalo Sabres: The­ Sabres as prospective trade­rs are mentioned by Se­ravalli. The acquisition of Pettersson, he­ intimates, could potentially catapult them into instant championship conte­ntion.

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Pettersson's contributions not enough in Canucks' overtime loss to Penguins

In Tuesday's 4-3 overtime loss to the Pittsburgh Penguins, Elias Pettersson contributed with a shorthanded assist, firing three shots on goal while spending two minutes in the penalty box. His setup led to J.T. Miller's goal during the second period.

Despite this, Pettersson's recent performance has been relatively subdued, tallying just three points in his last six games, notably lacking power-play production since Feb. 6. Nevertheless, the 25-year-old center maintains a solid season record with 75 points, including 26 on the power play and two shorthanded, along with 162 shots on net, 93 hits, and 49 blocked shots, earning a commendable plus-15 rating across 61 appearances.

With his consistent performance, Elias Pettersson remains on track to potentially reach the century mark for the second consecutive season.