Elias Pettersson’s new contract has now started to apply.
In doing so, he also broke the all-time Swedish NHL record when it comes to cash flow.
– It’s huge money, says Canucks General Manager Patrik Allvin to Expressen.
It was close to a historically good Swedish season in the NHL, at least when it comes to lucrative contracts for the stars. Both William Nylander and Elias Pettersson signed new contracts during the season for the Toronto Maple Leafs and Vancouver Canucks, respectively, which will give the Swedes a little over SEK 100 million a year.
The new monster contract
For Elias Pettersson, the season started brilliantly, but during the playoffs he had a hard time living up to the high expectations, and as the Canucks are on their way to becoming a team fighting for the Stanley Cup, it is necessary that “EP40” delivers even when it matters most.
Because at least he has a contract to justify it… Pettersson signed his new contract with Vancouver in March earlier this year, and now, on July 1st, it took effect. The annual salary landed at a breathtaking 11.6 million dollars, i.e. over 120 million Swedish kronor, but there is one detail that is even more startling – and actually historic.
Breaks the all-time Swedish record
When Elias Pettersson signed his new eight-year contract with the club, he also negotiated a substantial signon bonus, i.e. a lump sum that is paid out during the first effective day of the contract. This means that during his first contract year, Pettersson will earn over SEK 150 million, whereupon a larger part of it was paid out directly now during the month of July.
According to Expressen, it is more than any other Swede has taken out during a single season in NHL history, this despite the fact that several Swedish icons played before a salary cap was introduced in the league.
– Yes, the sums you mention are correct. It is huge money and it has become a bit of a trend in the league that the players want a high signing bonus, says Patrik Allvin to Expressen.
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