After months of delay, things in Vancouver pivoted suddenly. The Canucks have swiftly secured forward Elias Pettersson for the long-term deal, signing him to an 8-year, $11.6 million per season contract extension on Saturday. Despite Pettersson expressing a lack of urgency as a restricted free agent, the negotiation process accelerated when trade rumors to Carolina began circulating.

The 32 Thoughts podcast, hosted by Elliotte Friedman, shed light on the situation, revealing that the talks with the Carolina Hurricanes were legitimate. Pettersson’s continued stance of not signing until the end of the season prompted the Canucks to consider their options. They weren’t shopping him or looking to trade the forward, but they needed a backup plan. Pettersson, upon learning of the potential trade discussions, quickly shifted gears, allowing his agent to reopen talks with the Canucks.

While the precise details of Carolina’s offer remain undisclosed, it served as a catalyst for Pettersson to re-engage in contract negotiations.

Contract Terms Came Together Quickly

Reports are that multiple contract extension scenarios were discussed, including a short-term deal. But, Pettersson told the Vancouver media on Saturday that he always wanted to stay long-term. He just needed to know the team was trending in the right direction.

Reports suggest the Canucks proposed a substantial offer ranging from $90 to $96 million, signaling their commitment to retaining the young forward. That offer came some time ago. When asked why it took so long, Pettersson said he didn’t want to fold his hand when it came to negotiating power. But, as the noise got louder in Vancouver and talk of a trade made its way to Pettersson, he expressed a desire to stay with the Canucks almost immediately.

The prevailing sentiment is that the Canucks strategically utilized trade speculation to expedite the contract extension process. With Pettersson now locked in for the foreseeable future, Vancouver can shift its focus back to on-ice performance without the looming distraction of unresolved contract negotiations. GM Patrik Allvin hinted that the team has other things they’re looking to do before the trade deadline and they have some other free agents that will require the team’s attention in the off-season.

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