According to multiple reports, the Vancouver Canucks have signed goalie Thatcher Demko to a five-year contract extension worth $5 million annually.
The 25-year-old is nearing the end of his two-year bridge deal with Vancouver and now it seems the franchise is showing the necessary confidence in their netminder, with Demko previously on track to become a restricted free agent at the end of this season.
Now, he’s locked in through the 2025-2026 season and will become an unrestricted free agent at the conclusion of this deal.
Demko has been posting solid numbers this season. In 25 starts, he’s 12-12-1 with a 2.77 goals against average and a .917 save percentage.
In March, Demko has been on a tear. He’s 8-3-0 with a 2.15 goals against average and a .937 save percentage, the highest save percentage in the league for the month among goalies to play a minimum of 10 games. He was the NHL’s Second Star of the Week ending March 7, posting his first league shutout against the Winnipeg Jets on the first of the month.
A lot of this deal is also thanks to his stellar playoff performance last season.
Demko was incredible against the Vegas Golden Knights, supporting his team’s rally as they were down 3-1 in the second round series. He made 42 saves in Game Five and followed that up with 48 saves in Game Six, a 4-0 victory for Vancouver. That marked the most saves in a playoff shutout by a rookie in NHL history.
By the time it was over, the Canucks still lost to Vegas but Demko was a star with a .985 save percentage in the round.
It could be argued that this is some serious bank to spend on a player with just 62 NHL games played in the regular season, but contracts are always precarious to some degree. Demko’s play has vindicated his status as the Canucks’ starter and this deal doubles down on that fact.
While Vancouver will pay $9.3 million to goalies Demko and Braden Holtby next season, it’s clear they’ve established the order of things going forward. And with an expansion draft in the works, things could be settled sooner rather than later.