Elias Pettersson agrees to a new 8-year contract.

It's official, Elias Pettersson won't be going anywhere.

The Vancouver Canucks, via general manager Patrik Allvin, have announced the signing of Canucks star forward Elias Pettersson to a brand new 8 year contract extension. The Canucks have not disclosed the financial terms of this deal.

Pettersson has released the following statement:

This is a very exciting day for me and my family. I am very happy to be continuing my career as a member of the Vancouver Canucks. I love this city and playing in front of the fans. We have an exciting group and believe we can do good things in the future. Both Jim Rutherford and Patrik Allvin have done a great job in building this team and creating a culture, along with Rick Tocchet. And lastly I want to thank the Aquilini family for this opportunity.

NHL insider Frank Seravalli reports that this new deal will carry an average annual value and cap hit of $11.6 million per season.

Update: Pettersson's new deal will contain a full no movement clause. Here is how his salary breaks down year by year:

2024-25: $2.5M base ($12M SB)
2025-26: $4.5M ($10M SB)
2026-27: $11.0M
2027-28: $9.45M ($5M SB)
2028-29: $7.25M ($5M SB)
2029-30: $3.7M ($5M SB)
2030-31: $3.7M ($5M SB)
2031-32: $3.7M ($5M SB)