Elias Pettersson’s latest contract update after he reportedly ignored historical deal

The Vancouver Canucks have made it clear that they would like to sign star forward Elias Pettersson long-term, but there’s still no deal to be announced and latest updates on the situation haven’t been the most encouraging for the fanbase. It has been believed that Pettersson does not want to deal with the distractions of contract negotiations during the season, and it could in part why he alleged turned down a massive offer. David Pagnotta of the Fourth Period said that that a “well-placed source tied to the club” informed him that the Canucks made an eight-year contract offer to Pettersson worth $12 million per season at the start of the 2023-24 season.

Pagnotta said that the contract hasn’t been rejected, but it is likely that Pettersson ignored it, preferring to focus on the season.

On Wednesday night, insider Frank Seravalli gave the latest update in the Pettersson situation in Vancouver, reporting that the Canucks “have made significant progress with superstar Elias Pettersson working on what is believed to be an 8-year contract extension.”

“Not done, but big development, and a new deal could be finalized in the coming days.”

No more what said on the type of progress made the Canucks, but it is the most encouraging news on that front in the past weeks.

Pettersson could be looking for more, money-wise than what was presented in that aforementioned offer. Only Toronto Maple Leafs’ Auston Matthews ($13.25M), Colorado Avalanche’s Nathan MacKinnon ($12.6M), and Edmonton Oilers’ Connor McDavid ($12.5M) have signed contracts paying them more than $12 million per season.

With 61 games under his belt this season, Petterson has posted 75 points and could surpass his career-best season in 2022-23, when he scored 102 points. He has played all six of his NHL seasons with Vancouver, and is eligible to become a restricted free agent this summer. He can become an unrestricted free agent as soon as July 1, 2025.

Let’s see if the Canucks can lock him down before the clock starts to tick too quickly for them and the added pressure not to lose Pettersson for nothing.

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