The Vancouver Canucks are one of the NHL’s most fascinating wild cards ahead of the 2025 trade deadline.
This is a club that’s managed by one of the league’s most prolific traders in president of hockey operations Jim Rutherford. The Canucks are still in the thick of the playoff race in the Western Conference, and could yet realistically end up as a buyer or a seller, or both, ahead of the deadline. And, to top it all off, two of Vancouver’s highest-profile stars have been very publicly on the trade block over the past few weeks.
As the trade deadline approaches, we like to kick off our silly season coverage with an annual look at Canucks trade tiers. This article functions as an inventory of Canucks players and trade assets based on a mix of analysis, reporting and informed speculation — which we drop every year just as the NHL’s rumour mill kicks into high gear.
This year’s edition of our Canucks trade tiers feels especially high stakes. There’s a multitude of potential paths through the next five weeks that Canucks management could chart, and it’s not hyperbolic in the slightest to suggest that the ramifications of what comes next could define the rest of this decade for the franchise.
A note that all salary, term and bonus information and any notes on trade or movement protection are sourced from CapWages.
Not moving
Quinn Hughes (three years remaining, $7.85 million cap hit)
The only place that Hughes might move before the trade deadline is from Norris Trophy consideration to Hart Trophy consideration.
Filip Hronek (eight years remaining, $7.25 million cap hit)
The other half of the NHL’s most impactful defence pair, Hronek is primed to be a fixture on this roster for a long time to come, regardless of what other significant moves the Canucks may make over the next few weeks.
Jake DeBrusk (NMC – seven years remaining, $5.5 million cap hit)
DeBrusk is currently riding out a cold streak, but we know that he’ll have an extended run scoring in bunches once the dam breaks. In his first Canucks season, DeBrusk is still on pace to set a career high in goals scored and match his career high in points.
Conor Garland (two years remaining, $4.95 million cap hit)
One of the club’s most reliable two-way engines up front, Garland is very quietly having his best and most productive Canucks season.
Dakota Joshua (modified NTC – four years remaining, $3.25 million cap hit)
After undergoing offseason surgery following a testicular cancer diagnosis, Joshua returned to the lineup and just as his game appeared to be gaining traction, he missed an additional four weeks battling through a hip injury. Understandably Joshua hasn’t found his stride yet this season, but he’s still a valuable piece with a unique profile.
Tyler Myers (NMC – three years remaining, $3 million cap hit)
Even beyond his full no-move clause, Myers has performed at a credible top-four level throughout a trying first 50 games for Vancouver’s blue line.
Carson Soucy (NTC – two years remaining, $3.25 million cap hit)
Soucy has followed up his stalwart showing in his first Canucks season with an inconsistent campaign this year. The Canucks very much believe in Soucy’s solidity and his defensive game, and in any event, Soucy has both roots in western Canada and a full no-trade clause.
Teddy Blueger (two years remaining, $1.8 million cap hit)
Not only is Blueger a favourite of the coaching staff and management, but Vancouver isn’t going to be wiling to subtract a centre right now given the availability of J.T. Miller and Elias Pettersson on the trade market.
Kiefer Sherwood (two years remaining, $1.5 million cap hit)
A revelation in his first Canucks campaign, Sherwood looks like a serious free-agent hit for Vancouver. He’s both too affordable and too useful for the club to seriously consider trading at this juncture.
Probably not moving but …
Thatcher Demko (two years remaining, $5 million cap hit)
Demko is one of the most difficult goaltending assets in the league to value right now. When Vancouver’s star netminder is healthy and on, as he was in Nashville on Wednesday night, he’s an elite force capable of operating at a Vezina-calibre level.
However, there are serious durability concerns about Demko and that was true even before his major knee injury, which sidelined him for seven months. No NHL goaltender has ever suffered the specific injury Demko has returned from, making it difficult to project his outlook moving forward. Demko has mostly struggled since returning, posting a .877 save percentage in 13 games, but given his extended absence and evident star-level talent, it’s too early to read too much into his uncharacteristically permissive performance.
The Canucks would probably be best off being patient with Demko and using the next three months to gather as much information as possible on him. If he bounces back, the club will be incentivized to keep him next season. If he underperforms down the stretch, the front office can make an informed decision on whether to keep or shop him in the offseason.
Vancouver will likely hold Demko through this season before deciding on his future, but in the highly unlikely event that a contender was to blow the Canucks away with an exceptional offer, surely management would have to consider it given the risk in his projection.
Kevin Lankinen (UFA this summer, $875,000 cap hit)
Lankinen has exceeded all expectations and succeeded as the Canucks’ de facto starter this season. Vancouver’s front office has already engaged Lankinen’s camp regarding contract extension talks, as The Athletic reported earlier and in an ideal world, the Canucks would sign Lankinen to a reasonable deal to keep him as a key part of the club’s goaltending tandem moving forward.
However, the NHL’s goalie market is rapidly inflating. MacKenzie Blackwood recently signed a five-year, $5.25 million AAV extension with the Avalanche and Logan Thompson inked a six-year, $5.85 million AAV deal with the Capitals. Blackwood and Thompson are higher-tier, more proven goaltenders than Lankinen and slightly younger, so this isn’t to say that Lankinen will command an extension that large, but Blackwood and Thompson aren’t far removed from being out-of-favour goaltenders. It won’t be cheap to retain Lankinen given his high level of achievement this season, and there’s risk involved with committing significant term and dollars to a netminder with a small sample of success as a starter.
There’s a scenario where Lankinen could get dealt, but it feels like a long shot. It would require extension talks going so poorly that the Canucks decide they can’t afford to keep him beyond this season and the club slipping out of the playoff race to the point where management feels it’s necessary to recoup an asset for him rather than letting him walk for nothing. Odds are, however, that he’ll remain a Canuck through this season.
Tough decisions tier
Nils Höglander (three-year, $3 million cap hit extension kicking in next season)
With just four goals and 11 points in 46 games, it’s no secret that Höglander is going through a nightmare season. He’s routinely found himself in Rick Tocchet’s doghouse to the point where we wonder if the player and coach will ever be compatible long-term. There’s also a risk that his three-year, $3 million AAV extension, which kicks in next season, could become inefficient if he can’t carve out a larger role and produce more consistently.
All of those are compelling reasons to consider shipping Höglander out, but this decision isn’t as straightforward as it may appear on the surface. Vancouver’s front office still believes in Höglander’s potential. His trade value is also relatively distressed because of his struggles this season. Is it worth selling him when his value is at an all-time low? It’ll be fascinating to see how management approaches Höglander’s future.
The too much water under the bridge tier
J.T. Miller (NMC – six years remaining, $8 million cap hit)
Miller has been a central player in mature trade discussions that nearly resulted in a deal on two occasions over the past two weeks, and at this stage, it feels inevitable that the gifted, heavy, playmaking forward will be traded.
Will that occur before the trade deadline? The club certainly seems motivated to find a deal, but it’s not a simple trade to pull off in-season, especially given Miller’s struggles this season, some of the baggage surrounding his situation, the term and money remaining on his contract and his no-move clause.
A Miller trade still feels more like a question of “when” than “if.” It’s probable that the best thing for all parties involved would be to find a resolution quickly. There’s some complexity involved in actually executing the transaction, however, so we’ll just have to watch and see how exactly this all plays out.
GO DEEPER
J.T. Miller trade watch: 6 potential destinations and what the Canucks could get in return
Franchise altering decision tier
Elias Pettersson (eight years remaining, $11.6 million cap hit)
Sportsnet’s Elliotte Friedman reported on Saturday that Pettersson was close to being moved to the Carolina Hurricanes before the Mikko Rantanen trade and that trade talks are ongoing with other teams. The Canucks are clearly open-minded about the possibility of trading their star Swedish centre if the right offer comes along, which matches the public commentary of Rutherford and Patrik Allvin.
There’s an enormous risk, of course, in trading away an elite player in his mid-20s. Historically, it’s been very challenging to win trades where you’re dealing away a franchise player, and it’s possible that trading Pettersson would end up aging as poorly as the Sabres’ divorce with Jack Eichel.
However, you also can’t ignore that there are red flags around Pettersson. Dating back to last year’s All-Star break, he’s scored 18 goals and 57 points in 77 games. That doesn’t even include his disappointing playoff run, where he mustered just one goal in 13 games. We’re talking about 12 months of uninspiring play, which is a substantial timeframe. It’s also fair to wonder about his leadership and whether he can truly be The Guy to lead a franchise through a deep playoff run.
We’d expect Pettersson to bounce back as a high-end 1C given his early career statistical resume. And if that’s the internal belief, it’s probably in the club’s best interests to hang onto him. But the organization’s key decision-makers are clearly still mulling if Pettersson is part of the long-term solution, or whether he should be dealt for a lucrative haul.
GO DEEPER
Elias Pettersson trade watch: 10 destinations and what the Canucks could get back
Brock Boeser, a pending UFA, isn’t in active extension negotiations with Vancouver. (Derek Cain / Getty Images)
On the block tier
Brock Boeser (modified NTC – UFA this summer, $6.65 million cap hit)
Last we checked, extension talks were quiet between Boeser’s camp and the Canucks.
The 27-year-old sniper’s next contract is going to be quite expensive. AFP Analytics projects that Boeser’s next deal will be for seven years and carry a cap hit in the $8.75 million ballpark. Boeser wouldn’t be an easy piece for the Canucks to move on from, but at this point, the organization looks unwilling to make that type of monumental commitment. It’s also telling that Allvin and Rutherford have been lukewarm about Boeser’s future whenever publicly asked about his contract situation.
Vancouver can’t afford to lose a player of Boeser’s calibre for nothing, especially if it’s not more firmly ensconced in a playoff spot. We’d expect the club to shop him ahead of the trade deadline unless the two sides make rapid progress toward a new deal in the coming weeks.
If there’s a market tier
Danton Heinen (modified NTC – two years remaining, $2.25 million cap hit)
Outside of his work on the penalty kill, Heinen has been a quiet disappointment in his first Canucks season. His two-way game has been inconsistent, the production has been pedestrian and Heinen’s role has largely been relegated to the bottom six, despite the club’s efforts to shoehorn him onto a line with Miller and Boeser to open the campaign.
Heinen has somewhat robust trade protection (a 12-team no-trade list), but if there were an interested buyer, Vancouver would have to strongly consider moving on and reallocating his cap dollars elsewhere.
Vincent Desharnais (two years remaining, $2 million cap hit)
The Desharnais experiment hasn’t gone as swimmingly as the Canucks had hoped when they signed him last summer. The physical third-pair defender and penalty killing ace has had some good moments, especially in sheltered minutes with a more mobile defence partner, but he’s steadily fallen behind Noah Juulsen on the depth chart as the season has progressed. He’s also been a mainstay in trade rumours throughout this season, and in this case, where there’s smoke, there’s fire.
The Canucks will likely explore their options before the deadline, although it isn’t always straightforward to move on from depth defenders with term remaining on their deals.
Deadline depth tier
Pius Suter (UFA this summer, $1.6 million cap hit)
Suter has been one of this front office’s best bang-for-buck signings. The savvy, versatile forward has shown that he can play anywhere in the team’s lineup, whether it be as a third-line centre or as a complementary top-six winger.
If the price makes sense, the Canucks would be wise to try hammering out an extension for Suter. However, if the dollars and term are too steep, management will have to weigh the return that Suter could fetch on the trade market as a useful rental forward against the value of keeping him for the club’s playoff push.
There’s a case to be made that the Canucks should prioritize selling and collecting assets that could later be spent to acquire win-now help for next season rather than a playoff push now, considering the odds of them going deep this postseason are slim.
Derek Forbort (UFA this summer, $1.5 million)
Forbort will be a coveted depth defenceman if the Canucks decide to sell at the deadline.
The veteran 6-foot-4 defender has the size, experience and defensive acumen that playoff contenders would covet. Yes, his foot speed can be a concern at times, but he’s been totally serviceable at even strength for the Canucks and is a legitimately excellent penalty killer. Moving Forbort would also give Elias Pettersson, who looked promising in his first two NHL games, an opportunity to become a full-time option for the big club and gain some rapid experience.
Noah Juulsen (UFA this summer, $775,000)
The Canucks have a bit of a logjam on the right side. Hronek, Myers and Desharnais are all under contract for next season.
Meanwhile, Tom Willander, another right-shot defenceman, could be ready to turn pro and play NHL games at the end of his NCAA season. Juulsen wouldn’t have much trade value (think late-round pick), but teams are always stocking up on depth blueliners at the deadline. With his size, physicality and penalty killing prowess, Juulsen would be a solid No. 7/8 option for a contender.
(Photo of Elias Pettersson, J.T. Miller and Quinn Hughes: Jeff Vinnick / NHLI via Getty Images)
