The Vancouver Canucks and their star goaltender, Thatcher Demko, appear to be heading toward a contract extension, making a potential trade increasingly unlikely. Several reports from reliable sources suggest that negotiations are progressing positively, with a "pathway" to a deal potentially being reached soon. This development would significantly alter the landscape of the goaltending market, as several teams have expressed interest in acquiring Demko.
Demko, who is entering the final year of his contract with a $5 million cap hit, has been the subject of trade rumors. However, a new deal with Vancouver seems to be the priority for both sides. While Demko does not possess any no-trade protection, his recent injury history has made some teams hesitant to offer a substantial package for him without assurances of his long-term health. Despite these concerns, teams like the Philadelphia Flyers, San Jose Sharks, Edmonton Oilers, and Detroit Red Wings are reportedly seeking goaltending upgrades and have been linked to Demko.
The Canucks' willingness to extend Demko signals their confidence in his ability to return to his peak performance. In the 2023-24 season, Demko showcased his elite potential, finishing as a Vezina Trophy finalist. However, the 2024-25 season was marred by injuries, limiting him to just 23 games. His absence was felt by the team, and his return to full health is crucial for Vancouver's aspirations of contending for a Stanley Cup.
Extending Demko would create a logjam in the Canucks' goaltending ranks. Kevin Lankinen was signed to a five-year extension in February, and Arturs Silovs emerged as a key player, leading the Abbotsford Canucks to a Calder Cup championship and earning the playoff MVP award. Silovs' impressive performance has made him a viable option for an NHL roster spot, further complicating the situation. With three capable goaltenders under contract, the Canucks would need to make a decision on how to manage their crease.
One option would be to explore trading Silovs, capitalizing on his increased value after the Calder Cup victory. However, the Canucks may also see value in keeping all three goaltenders, creating a competitive environment and providing insurance against injuries. This scenario would require careful management of playing time and potentially lead to some difficult decisions down the road.
Financially, the Canucks have a projected $7.03 million in cap space for the 2025-26 season. Extending Demko will require a significant portion of that space. The NHL's salary cap is projected to rise to $95.5 million for the upcoming season, providing some relief for teams facing cap constraints. However, the Canucks will still need to manage their resources effectively to address other needs on their roster, such as adding scoring depth upfront. The recent acquisition of Evander Kane has further reduced their cap space.
Ultimately, the decision to extend Thatcher Demko reflects the Canucks' belief in his long-term potential and his importance to the team's success. While a trade remains a possibility, the focus appears to be on securing Demko's future in Vancouver and building a competitive team around him. With negotiations seemingly progressing in a positive direction, the Canucks and their fans can look forward to the possibility of Demko continuing to be a cornerstone of the franchise for years to come.
