Loui Eriksson Canucks Contract: What You Need To Know
When the Vancouver Canucks signed Loui Eriksson to a six-year, $36 million contract in 2016, they thought they were getting a high-scoring winger to play alongside the Sedin twins. However, things did not go according to plan, and Eriksson`s time in Vancouver has been underwhelming, to say the least.
Here`s a closer look at the Loui Eriksson Canucks contract and what it means for the team moving forward.
The Contract
As mentioned, Eriksson signed a six-year, $36 million contract with the Canucks on July 1, 2016. The contract carries an average annual value (AAV) of $6 million, making Eriksson one of the highest-paid players on the team.
Despite his big contract, Eriksson has not lived up to expectations in Vancouver. In four seasons with the Canucks, Eriksson has scored just 38 goals and 81 points in 245 games. His production has been hampered by injuries and a lack of chemistry with his linemates.
The Buyout
With three years remaining on Eriksson`s contract and a flat salary cap for the foreseeable future, the Canucks decided to buy out the remainder of his deal in October 2020.
Under the terms of the buyout, the Canucks will owe Eriksson $5,666,667 per year for the next six years. However, the buyout will provide the team with some much-needed cap relief in the short term.
The Future
With Eriksson off the books, the Canucks will have some flexibility to make moves in free agency and potentially re-sign some of their key players. However, they will still be paying Eriksson for the next six years, which will limit their ability to take on additional salary in the future.
Moving forward, the Canucks will need to be more careful with their contracts and avoid overpaying players who may not live up to expectations. The Loui Eriksson contract serves as a cautionary tale for teams looking to sign aging veterans to long-term deals.
Conclusion
The Loui Eriksson Canucks contract was a bust for both the player and the team. Despite a hefty salary, Eriksson failed to provide the scoring punch the Canucks were expecting, and his contract became an anchor on the team`s salary cap.
With the contract now bought out, the Canucks will have some flexibility to make moves in the short term. However, they will be paying for the Eriksson mistake for the next six years. Hopefully, the team has learned its lesson and will be more cautious with its future contracts.