Canucks paying massive price to get rid of All-Star defenseman
The Vancouver Canucks are cutting bait on former All-Star defenseman Oliver Ekman-Larsson after only two seasons and paying a heavy price to do so.
According to NHL insider Elliotte Friedman of Sportsnet, the Canucks have bought out the remaining four years on Ekman-Larsson's contract, making him a free agent.
In short, to gain some cap relief, the Canucks will pay Ekman-Larsson $19.5 million to go away. The Canucks cap will take a hit for the next eight seasons due to the buyout, but with the NHL cap expected to rise over the next few seasons, it might not be a huge issue for Vancouver. However, the cap hit increases significantly after year one ($147,000), rising to $2.35 million in year two, $4.77 million in years three and four, and $2.13 million in years five through eight, per Puckpedia.
The Canucks acquired Ekman-Larsson and Conor Garland in a 2021 trade with the Arizona Coyotes in exchange for three draft picks (including a first-rounder), Jay Beagle, Loui Eriksson and Antoine Roussel.
Following a solid yet unspectacular first season in Vancouver, posting 29 points (five goals, 24 assists) over 79 games, Ekman-Larsson's game dipped in 2022-23. Playing in only 54 games, he recorded 22 points (two goals, 20 assists), the lowest since his rookie season (11 points in 48 games) in 2010-11. The 31-year-old's defensive game also declined, leading to a significant cut in his ice time. Ekman-Larsson averaged 20:11 TOI, down from 22:19 in the previous campaign.
The defenseman's downswing, paired with the four years remaining on his contract and an $8.2 million cap hit in 2023-24, made Ekman-Larsson less appealing to keep around for Vancouver.
A 13-year veteran, Ekman-Larsson will inevitably catch on somewhere else. We'll have to wait and see where Ekman-Larsson lands and at what price, but with his worsening play in recent years, it'll likely be at a heavy discount.
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