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What Canucks’ Thatcher Demko Might Seek on His Next Contract

Originally posted on NHL Trade Talk | By Jim Parsons | Last updated Mar 27, 2025 4:52 PM ET

Vancouver Canucks goaltender Thatcher Demko is trying his best to stay healthy and rebound into form, but his future contract situation in the NHL is already drawing attention. With next season being the last remaining on his five-year, $25 million extension, the 29-year-old will be seeking a raise when his current deal expires.

Demko’s $5 million annual average value (AAV) is currently well below market value for a starting goaltender of his caliber. However, his injury history and health situation creates concern for the Canucks and potentially any other team looking at him as a UFA. The Canucks were so unsure about Demko’s mysterious ailment that they signed Kevin Lankinen for five more years at $4.5 million AAV.

Ideally, the Canucks would love to have both netminders continue with the organization, but if Demko is looking for a salary in the range of some of the league’s top netminders, it might be tough for the Canucks to go there.

Does Demko Want the Linus Ullmark Contract?

Ben Kuzman of The Province looked at a comparable in Linus Ullmark. Ullmark is a former Vezina Trophy winner who just signed a four-year, $33 million extension with the Ottawa Senators, carrying an $8.25 million AAV. On paper, elite netminders like Igor Shesterkin, Sergei Bobrovsky, and Andrei Vasilevskiy earn between $9.5 million and $11.5 million annually, so Ullmark’s number seems fair. However, Demko hasn’t won a Vezina Trophy, and giving him term with an uncertain injury outlook is risky.

Over his career, he has played 237 NHL games, posting a 2.80 goals-against average and a .911 save percentage. His strong performance last season—35-14-2, 2.45 GAA, .918 save percentage, and five shutouts—suggests he deserves a deal in the Ullmark-to-Connor Hellebuyck ballpark. The latter signed for seven years and $8.5 million per season. The Canucks aren’t likely to give Demko that kind of term and one has to wonder if they’d be comfortable with that AAV, even on a shorter-term deal.

A groin strain in 2022, a knee injury that ended his 2023 playoff run, and an undisclosed ailment that sidelined him for 15 games in 2024 are all going to factor into how comfortable the Canucks are re-signing Demko.

With Kevin Lankinen in the mix at a reasonable AAV and Arturs Silovs developing, Vancouver has options. A healthy Demko is ideal, but that being in the cards for the Canucks is not a guarantee. And, if another team is willing to take the risk, will the Canucks fight to keep him?

This article first appeared on NHL Trade Talk and was syndicated with permission.

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