The Vancouver Canucks kicked off the NHL's free agent frenzy by re-signing two of their own players.
Thatcher Demko and Conor Garladn were both eligible for contract extensions on July 1 and the Canucks did not hesitate, announcing their deals as soon as the clock hit 7:00 a.m.
Thatcher Demko's injury risk
Demko signed a relatively short-term deal, but didn't come cheap, re-signing for three years with an average annual value of $8.5 million. He reportedly has a no-movement clause in all three years of the deal.
It's a deal that comes with considerable risk, as Demko played just 23 games last season after recovering from a unique injury to his popliteus and suffering other injuries during the season. Demko's inability to stay healthy in recent seasons is a real concern.
When healthy, however, Demko can be a Vezina-caliber goaltender, finishing second in Vezina voting in the 2023-24 season after posting a .918 save percentage in 51 starts.
The Canucks didn't seem to get an injury-related discount. Demko's $8.5 million cap hit is notably the same as that of Connor Hellebuyck, who has won three Vezina trophies in his career. Hellebuyck's contract just started last season and runs for seven years, so the difference is term.
Still, three years could feel like an eternity if Demko can't stay healthy.
Conor Garland cashes in for six years
Conor Garland was the Canucks' most consistent forward last season, scoring 19 goals and 50 points while playing the most minutes of his career. He played in all situations for the Canucks: he scored a career-high 7 goals and 16 points on the power play, was a regular on the penalty kill, and played a strong puck possession game at even-strength.
Accordingly, Garland cashed in on that consistency with the biggest contract of his career, re-signing for six years at a cap hit of $6 million.
Surprisingly, it's not actually a raise in relative terms. Garland's last contract, a 5-year deal with a cap hit of $4.95 million, represented 6.07% of the salary cap when it began; his new contract takes up 5.77% of the salary cap.
The question for Garland is if he will continue to be productive and effective as he heads to the wrong side of 30. Garland is already 29 and will be 36 by the time the contract expires.
Garland is now the second-highest paid forward on the Canucks behind only Elias Pettersson's $11.6 million cap hit.
The contract extensions for Demko and Garland won't affect next season's salary cap, but will kick in for the 2026-27 season.
