The Vancouver Canucks have solidified their goaltending future by signing Thatcher Demko to a three-year contract extension with an average annual value (AAV) of $8.5 million. The announcement was made by General Manager Patrik Allvin on Tuesday morning, just hours before the start of NHL free agency.
Demko, 29, is considered a cornerstone player for the Canucks and a key leader in the locker room. Allvin expressed his excitement about the extension, stating, "Thatcher is one of the top goalies in the National Hockey League and a key leader in our locker room. His desire to continue his career in Vancouver says a lot about what we are trying to accomplish and where this organization is headed". He also praised Demko's work ethic and the confidence he inspires in the team.
The new contract, worth $25.5 million in total, will begin in the 2026-27 season and run through the 2028-29 season, at which point Demko will be 33 years old. This extension prevents Demko from becoming an unrestricted free agent at the end of the 2025-26 campaign. According to Rick Dhaliwal, the contract includes a no-move clause for all three years.
Demko was drafted 36th overall by the Canucks in 2014 and has since established himself as their starting goaltender. In 242 career NHL games, all with the Canucks, Demko has a .910 save percentage and a 2.81 goals-against average. He is currently playing under a five-year, $25 million contract with a $5 million cap hit, which expires at the end of next season.
Demko's best season came in 2023-24 when he recorded a 35-14-2 record with a 2.45 goals-against average and a .918 save percentage. He also finished second in Vezina Trophy voting that year.
Despite his talent and potential, Demko has faced challenges with injuries. Last season, he missed the first two months due to a lower-body injury sustained during the 2023-24 playoffs and later missed an additional 15 games due to another lower-body injury. In the 2024-25 season, Demko posted a 10-8-3 record with a 2.90 goals-against average and an .889 save percentage.
The Canucks are clearly betting on Demko's ability to stay healthy and perform at a high level. The $8.5 million AAV reflects the going rate for top-tier goaltenders in the NHL, with two-time Vezina Trophy winner Connor Hellebuyck setting the market at the same amount. By securing Demko's services for the next four years, the Canucks have addressed a critical position and signaled their commitment to building a competitive team.
