The talk of the Vancouver Canucks trading Elias Pettersson has become a never-ending discussion. Until the deal actually happens, talk won’t really ever go away.
One of the questions that has emerged is why the deal hasn’t happened. Despite interest from various teams around the league, a trade has yet to materialize. It’s rather evident that Pettersson’s cap hit is likely holding back any potential trade. Even his no-trade clause isn’t the major factor. The big issue is that interested parties don’t likely have the space to add Pettersson. And even if they did, acquiring teams would rather see the cap hit come down.
Now, a report from Canucks insider Rick Dhaliwal has revealed just how much the Canucks will have to retain if they want to make a deal happen. The amount could be as much as $3 million per season.
“I know for a fact, one team told me…to get in the Elias Pettersson trade talks, they need retention, 2, 2.5, close to 3 [million] per year to make it work.”
If that’s indeed the number, it’s no wonder why the Canucks haven’t been able to make headway. Even if Vancouver was willing to trade Pettersson for two fifth-round picks, it’s the cap hit that keeps getting in the way. But would retaining something like $3 million per season be actually worthwhile? When thinking about the savings versus the potential return, it might not make sense for the organization at this point.
Canucks Can Afford to Wait
The reality is that the Canucks are not in a real rush to trade Pettersson at this point. The whole reason why his name is even in trade discussions is that rebuilding teams don’t generally need an $11-million player on their roster.
Unfortunately, Pettersson seems like a bad bet the Canucks made a few seasons ago. The chickens have come home to roost, and, well, Vancouver is now stuck with this contract. That’s why there is so much talk about trading Pettersson.
But it just doesn’t make sense to tie up $3 million in dead cap space for the next six seasons. In fact, time might be Canucks’ biggest ally in this entire situation.
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Rising Cap Should Help Vancouver Move Pettersson
The rising cap could be the Canucks’ best bet to trade Pettersson. Since the ceiling will hit $123 million in 2028-29, his cap hit may not look nearly as onerous as it once did. Yes, that’s still about two seasons away.
But Vancouver won’t be contending in two seasons. With any luck, the Canucks might be in a position to challenge for a playoff spot within the next three or four seasons. If that’s the case, moving Pettersson during the 2028 offseason might be significantly easier.
It would become even easier if the 28-year-old could rebound and return to some semblance of his 100-point self.
In the meantime, if the Canucks were really serious about getting out from under Pettersson’s contract now, eating up about 25% of his deal would be the way out.
Canucks Will Need to Retain This Much to Trade Pettersson