Getty Vancouver Canucks after scoring a goal.
The Vancouver Canucks are facing serious financial limitations following the recent extension of defenseman Filip Hronek, as acknowledged by General Manager Patrik Allvin.
Allvin discussed the future business of his franchise entering the free-agent market opening July 1. The GM’s comments might strike some fans as a bit worrying, as he doesn’t expect Vancouver to sign all the players it wants.
General Manager Patrik Allvin announces that the #Canucks have agreed to terms with defenceman Filip Hronek on an 8-year contract with a $7.25M AAV.
“We’re looking at all options,” Allvin said on Tuesday, June 18, via Sportsnet. “But as I said, it really appears that we’re not going to be able to sign all of our UFAs at this point.”
The Canucks re-signed Hronek at an annual cap hit of $7.25 million, leaving Vancouver with $16.8 million in available cap space.
Filip Hronek’s Extension Impact & Implications
On Tuesday, June 18, the Canucks announced an eight-year, $58 million extension for defenseman Filip Hronek.
The 26-year-old will earn an annual average of $7.25 million. Frank Seravalli of Daily Faceoff broke down the deal and revealed the details of Hronek’s new contract.
#Canucks Filip Hronek: 8 years x $7.25m
2024-25: $5.5M + $4M SB
25-26: $5.0 + $4M SB
26-27: $6.75M Sal
27-28: $4.4M + $4M SB
28-29: $3.7M + $3M SB
29-30: $4.25M + $2M SB
30-31: $3.7M + $2M SB
31-32: $3.7M + $2M SB
2025-2028 – Full No Move
2028-2032 – 15-Team NTC
There is no need to say that although the total money could look like an overpay for not quite a top-pair defenseman, Hronek’s production in Vancouver has been great.
Hronek is coming off having a career year with the Canucks, scoring a career-high 48 points in 81 regular-season games while playing alongside Canucks captain Quinn Hughes.
“Filip has fit in seamlessly on our blueline, giving us stability and strength on the right side,” Allvin said.
However, the Canucks failed to get past the conference semifinals losing to the Edmonton Oilers. Vancouver finished the season with a strong 50-23-9 record, winning the Pacific Division title, but they didn’t have enough when it mattered most.
The financial commitment to Hronek, while stabilizing the defense, will limit the Canucks’ flexibility in the free-agent market with many other important players scheduled to enter the market on July 1, including Elias Lindholm, Nikita Zadorov, and Tyler Myers.
Will Canucks Re-Sign Forward Elias Lindholm?
The Canucks might lose veteran center Elias Lindholm in free agency because of Hronek’s re-signing and the expectation of a Tyler Myers extension.
According to Elliotte Friedman, appearing on The Jeff Marek Show on June 17, Lindholm’s departure is increasingly likely due to financial constraints and more pressing business higher up the Canucks’ priority list.
“I’ve been watching Vancouver because I’ve been kind of waiting. Like, I think Elias Lindholm is out and the trade opens the door to others. We most likely are–but I’m not willing to pronounce that one officially done yet–I do think that there’s a framework of a Tyler Myers deal there,” Friedman said.
Canucks Shopping Ilya Mikheyev
In an attempt to create some cap room and facilitate the negotiations with pending free agents, the Canucks are trying to trade forward Ilya Mikheyev.
Frank Seravalli of Daily Faceoff included the forward in the June 14 update of his “Trade Targets Board” over Daily Faceoff, ranking him at the No. 6 slot and indicating “The Canucks attempted to move Mikheyev at the trade deadline.
“The Canucks have been working to move Mikheyev since shortly after their playoff run concluded. After a tough playoff, Mikheyev’s contract is gumming up the works on Vancouver’s offseason. They can’t more aggressively pursue multiple pending free agents (Nikita Zadorov, Elias Lindholm, Filip Hronek) until they can get a clearer view of their cap picture.”
To facilitate such a trade, however, the Canucks might need to include additional assets, such as a draft pick.
Mikheyev has two years left on his contract for a combined $9.5 million with an annual $4.75 million cap hit. He scored 11 goals and provided 20 assists for 31 points during the 2024 regular season but the forward failed to score a single point in 11 playoff games.