Free Agent Focus: Vancouver Canucks

Free agency is now just a bit more than a month away, and teams are looking ahead to when it opens. There will be several impact players set to hit the open market in July while many teams have key restricted free agents to re-sign as well. We continue our look around the NHL with an overview of the free-agent situation for the Canucks.

Key Restricted Free Agents

D Filip Hronek – Talk about an ideal contract year. After an injury-plagued stint in Vancouver to end last season following his acquisition from the Red Wings, Hronek began the season on the team’s top defense pairing alongside Quinn Hughes and never looked back. He recorded career highs with 43 assists, 48 points and a +33 rating, although, as critics point out, most of that production came on an early-season tear. The 26-year-old had three assists in 16 games after the trade deadline and was limited to a goal and an assist in 13 postseason games, both coming in Games 6 and 7 of their second-round loss to the Oilers. With reports indicating his ask is in the $8MM neighborhood annually, the Canucks are likely to shop his signing rights around with an unwillingness to dole out that kind of cash with the way he ended his season.

G Arturs Silovs – A couple of months ago, Silovs wouldn’t have had anything to do with a “key restricted free agents” moniker after serving as the club’s AHL starter for most of the campaign. However, injuries to Thatcher Demko and Casey DeSmith forced him into action for Game 4 of the first round against the Predators, and the 23-year-old Latvian remained in the crease for the rest of their playoff run. While Demko would have been an upgrade if available, Silovs was serviceable, posting a .898 SV%, one shutout and allowed 0.2 goals above expected, per MoneyPuck. After posting a .898 SV% and 6-2-1 record in nine regular-season appearances over the last two seasons, he’s in line for a cheap deal to make him Demko’s full-time backup moving forward. Silovs, who led Latvia to a bronze medal at the 2023 World Championship, had a 2.74 GAA, .907 SV%, four shutouts and a 16-11-6 record in 34 games for AHL Abbotsford this season.

Other RFAs: D Nick Cicek, D Filip Johansson, F Linus Karlsson, F Aidan McDonough, D Cole McWard, D Jett Woo

Key Unrestricted Free Agents

D Ian Cole – While Cole had some notable individual blunders in the playoffs, he had a solid regular season in Vancouver that proved he’s still a fringe top-four blue liner as he enters his mid-30s. Much like his showing last season with the Lightning, he was a strong shutdown force, controlling 53% of expected goals at 5-on-5 despite 63.6% of his zone starts coming in the defensive end. Adding 11 points in 78 games as well, Cole is in line for a deal similar to the one-year, $3MM pact that brought him to the Canucks last summer. He turned 35 in February, so he can take a 35+ contract with performance bonuses to lower his cap hit artificially if Vancouver wants to bring him back but runs out of space. However, if he meets his performance bonuses and the Canucks can’t afford to accommodate them, they’ll be applied as a cap penalty in 2025-26.

F Dakota Joshua – A Maple Leafs draft pick back in 2014, Joshua has been on a steady rise since they moved his rights to the Blues shortly before the pandemic. He parlayed that into an everyday role with the Canucks upon reaching Group Six UFA status in 2022 and had a career year this season, posting 18 goals and 32 points in only 63 games while costing just $825K against the cap. He averaged solid third-line minutes at 14:23 per game and had nearly all of his production come at even strength, notching only one power-play point. The 28-year-old had positive relative possession numbers, too. Unfortunately, that means he’s one of the likelier candidates to have priced himself out of Vancouver, earning himself a multi-million dollar raise wherever he signs this summer.

F Elias Lindholm – The Canucks gave up quite a haul for Lindholm at the end of January, giving the Flames a large package that included a first-round pick and middle-six sniper Andrei Kuzmenko to acquire the 2022 Selke Trophy finalist. His performance in the regular season left much to be desired, potting only six goals and 12 points in 26 games after the deal. Still, he exploded back to form in the postseason with 10 points and a +4 rating in 13 games while logging nearly 20 minutes a night, tying for third on the club in scoring. That’s likely repaired a good chunk of his market value after having an extremely underwhelming contract year. After finishing the campaign with 44 points and a -14 rating in 75 games, he won’t command the upward of $8MM per season he left on the table for an extension in Calgary, but he should still get something in the $6MM-$7MM annually on a longer-term deal. Whether that comes in Vancouver or with one of his other expected suitors, namely the Bruins, remains to be seen.

D Tyler Myers – The final season of Myers’ bloated five-year, $30MM deal was his best hockey in Vancouver. He dropped down to a second/third-pairing role, averaging under 20 minutes per game for the first time in his lengthy career, but responded with 29 points and a 49.8% expected goals share at 5-on-5, his best as a Canuck. Vancouver and Myers would both like to see him back in a Canucks uniform next season, something they should be able to get done at a significant pay cut from his previous $6MM cap hit as he enters his age-34 season.

D Nikita Zadorov – Also an in-season trade pickup from Calgary, Zadorov quickly became a fan favorite in Vancouver and was, bar none, their second-best defenseman in the playoffs behind Quinn Hughes. The towering Russian rattled off four goals and eight points in 13 postseason contests, averaging over 20 minutes per game after logging 17:04 per game in the regular season after the trade. Reports indicate his camp is asking for a six-year deal at $6MM annually – likely too rich for the Canucks’ taste (or anybody’s taste, for that matter). If his camp gets the sense that he won’t be able to achieve that figure on the open market, it wouldn’t surprise anybody to see this generation’s Big Z end up back in Vancouver.

Other UFAs: F Teddy Blueger, G Casey DeSmith, F Sheldon Dries, D Mark Friedman, D Matt Irwin, F Sam Lafferty, G Zach Sawchenko

Projected Cap Space

The Canucks enter the summer with roughly $23.75MM in cap space. However,h they’re likely operating with an internal figure closer to $26.25MM with the final season of defenseman Tucker Poolman’s contract slated for long-term injured reserve again in 2024-25. It’s a solid chunk of change – they’re still below the $64.7MM floor for next season – but the space will disappear quickly as they have likely $13-15MM committed to either re-signing Hronek and Lindholm or for their replacements.

Take another $5MM out for what Zadorov will likely command for an extension at this stage, and it’s clear not everyone on this list will be back next season. They have a solid chance of retaining most of their expiring talent, but whether they want to pay market value for someone like Lindholm or look for a more undervalued replacement on the open market remains to be seen. Expect General Manager of the Year Award finalist Patrik Allvin to be one of the busier GMs this offseason as he navigates what could be a fair amount of roster turnover for the defending Pacific Division champions.

Photos courtesy of USA Today Sports Images. Contract information courtesy of CapFriendly.