While not yet completed, the new deal is expected to be for eight seasons and could be finalized in the coming days, Seravalli added.
Pettersson is a pending restricted free agent but could become unrestricted in 2025. His current cap hit is $7.35 million on a three-year pact signed in 2021. It's possible Pettersson's new deal could exceed the $11.5-million average annual value that Toronto Maple Leafs winger William Nylander signed for in January - the last major NHL deal to be handed out.
The 25-year-old Swede is on pace to eclipse the 100-point mark for the second consecutive campaign, as he's tallied 29 goals and 46 assists in 61 games for the NHL-leading Canucks this season.
The Canucks drafted Pettersson fifth overall in 2017. He won the Calder Trophy in 2018-19 and has recorded 398 points in 386 career games.
Several NHL general managers have decisions to make regarding the direction they want to take their respective clubs with the trade deadline on the horizon. There are obvious buyers at the top of the standings and clear sellers near the bottom, but what about the cluster of teams in between? Below, we dive into how seven fringe playoff teams in particular should approach the deadline.
Playoff chances and standings as of Feb. 20. Teams were ordered alphabetically.
Detroit Red Wings
Eliot J. Schechter / National Hockey League / Getty
Playoffs chances: 55% Standings: 5th in Atlantic (2nd wild-card spot)
Will the Red Wings finally do it? Their seven-year postseason drought is the second-longest active skid in the league. They're close enough to the playoffs that it would be extremely disappointing to see them sell, especially in a wide-open Eastern Conference where anything could happen with a postseason ticket.
Their farm system is strong enough to negate the need for selling off pending unrestricted free agents David Perron, Patrick Kane, Daniel Sprong, and Shayne Gostisbehere for mid-round draft picks.
GM Steve Yzerman shouldn't necessarily push all of his chips into the middle, but shopping for players with term, or those who could be realistically extended and part of the long-term future, would make the most sense; think of players like Noah Hanifin, Jake Guentzel, and Pavel Buchnevich. Detroit has both the prospect capital to pull off such deals and the long-term cap space to keep them around. The Red Wings have enough depth - they need game-changers atop the lineup.
Verdict: Buy (with term)
Nashville Predators
John Russell / National Hockey League / Getty
Playoffs chances: 22.3% Standings: 5th in Central (2 points out of playoffs)
The Predators are beginning a new era. It's the first season under GM Barry Trotz and head coach Andrew Brunette. There's also a combined $8.25 million in dead money on the books between retained salaries and buyouts. All of this signals that it's not the time to go for it.
The club also has a handful of pending UFAs who could generate notable interest on the trade market, including Yakov Trenin, Thomas Novak, Tyson Barrie, and Alexandre Carrier. Nashville should also be willing to sell high on Gustav Nyquist, who's in the midst of a resurgent year but signed through next season. Listening to offers for star goaltender Juuse Saros, who's also signed through 2024-25, would be a wise move, too.
This new regime in Nashville clearly has a long-term vision, so it's best to sell off expiring assets now, especially considering that even if the Predators did make the playoffs, their first-round matchup would be a daunting one.
Verdict: Sell
New Jersey Devils
Icon Sportswire / Icon Sportswire / Getty
Playoffs chances: 46.7% Standings: 4th in Metropolitan (4 points out of playoffs)
The Devils have been plagued by injuries and poor goaltending this season, but they've been getting healthy, playing better as of late, and could be a dangerous team if they get into the playoffs. As a young team on the rise that just snapped a four-year playoff drought last season, selling should be out of the question. The club is too close to the postseason.
Trading unprotected first-round picks for rentals would be unwise, though. Getting players who can stick around for the long haul would be ideal - especially in net. Saros and Jacob Markstrom should be GM Tom Fitzgerald's top targets.
The Devils could also use a hard-nosed, veteran defenseman and a bottom-six center. Both could probably be obtained without sacrificing a first-round pick.
Verdict: Buy
New York Islanders
Bruce Bennett / Getty Images Sport / Getty
Playoffs chances: 10.2% Standings: 5th in Metropolitan (6 points out of playoffs)
The Islanders are in no man's land, and much of the blame can be placed on GM Lou Lamoriello. Buying in the rental market isn't very sensible considering their place in the standings. But buying for players with term doesn't really work, either, because the team's future cap space is severely limited after Lamoriello handed out some egregious extensions in the summer.
On the other hand, there isn't much to sell. Pending UFAs Cal Clutterbuck, Matt Martin, Mike Reilly, and Sebastian Aho won't fetch a whole lot on the trade market. And some of the team's expendable players with higher cap hits like Anders Lee, Jean-Gabriel Pageau, and Kyle Palmieri all have negative trade value (meaning the Islanders would likely have to attach a sweetener just to move the contract).
In other words, the Islanders should ride out the rest of the season with the current group, hope they make the playoffs, and then try to free up some cap space in the offseason.
Verdict: Sit
Philadelphia Flyers
Len Redkoles / National Hockey League / Getty
Playoffs chances: 73% Standings: 3rd in Metropolitan
The Flyers are enjoying an impressive campaign. They weren't supposed to contend this year, but they're the best team on this list. The surprising success has put first-time GM Daniel Briere in quite a predicament.
On one hand, Philadelphia's season hasn't been a fluke. The underlying numbers are pretty strong, specifically on the defensive side - a staple of John Tortorella-coached teams. The Flyers are on track for the playoffs and have some veteran players, like newly minted captain Sean Couturier, healthy and thriving.
On the other hand, Briere's plan all along has been to stockpile draft picks and prospects with the goal of building a long-term, sustained winner. Will he deviate from that? He has decisions to make regarding two key pending UFA defensemen in Sean Walker and Nick Seeler, who are playing the best hockey of their careers. Walker, in particular, is thriving and in a weak defense market could reportedly net the Flyers a first-round pick.
Selling probably wouldn't sit well with the veterans. But if Briere keeps the team together and the Flyers either miss the playoffs or get ousted in Round 1, he'll be kicking himself for not cashing in on his rentals at the deadline. That's why we lean toward sticking to the process and selling - as tough as it may be. In an ideal world, Briere can acquire some controllable, young players who can help now and in the future in exchange for his rentals.
Verdict: Sell
Pittsburgh Penguins
Justin K. Aller / National Hockey League / Getty
Playoffs chances: 32.5% Standings: 7th in Metropolitan (9 points out of playoffs)
The Penguins are in jeopardy of missing the postseason for a second straight year, which would be a real shame considering Sidney Crosby is still playing at an extremely high level. The other members of Pittsburgh's veteran core - Evgeni Malkin, Erik Karlsson, and Kris Letang - are still highly effective, too.
An abysmal power play has been Pittsburgh's undoing this season. If it were league average, the Pens would probably be in a playoff spot. They're great at five-on-five, ranking eighth in goals share and expected goals share, per Natural Stat Trick.
GM Kyle Dubas, who was just hired this past offseason, has a big decision to make about pending UFA Jake Guentzel: Trade him and start looking toward the future without Crosby and Co., or keep him and give it one last shot? We lean toward the latter.
Considering Dubas went all-in for Karlsson in the offseason, it wouldn't make much sense to backtrack now. It's worth trying to sign Guentzel to an extension, even if it means more pain down the road. The organization owes it to Crosby to take one last crack at it.
Pittsburgh is already without its first-round pick this year as part of the Karlsson trade, so there's nothing to tank for. Dubas shouldn't be willing to trade any future firsts in case things go sideways, but dealing from the rest of his draft picks and prospects should be on the table.
It's been a trying season, but the Penguins aren't far off, and with this grizzled group, anything could happen if it can get into the playoffs.
Verdict: Extend Guentzel and buy
St. Louis Blues
Icon Sportswire / Icon Sportswire / Getty
Playoffs chances: 19% Standings: 4th in Central (2nd wild-card spot)
The Blues are in a tricky spot. They have a leg up on the competition for the last wild-card spot in the Western Conference. However, their path to third in the Central, or to the first wild-card spot, is a bit of a long shot. So even if they make the playoffs, a first-round matchup against the conference's top seed seems likely. That's why buying doesn't make a lot of sense.
But St. Louis' only notable pending UFAs - Kasperi Kapanen, Sammy Blais, and Marco Scandella - wouldn't garner much of a return. Buchnevich could fetch a ton, but he still has an additional year left on his contract, and an extension in the summer would make sense. There's no rush to deal him. The same goes for the team's core defensemen, but retaining money on long-term contracts isn't ideal - and that's what it might take for a team to give up a haul for someone like Colton Parayko.
So as boring as it may sound, riding it out with the current group for the rest of the season and hoping for the best come playoff time is the most sensible path.
The Wild and Canucks reset the definition of a barnburner on Monday, combining for 17 goals in Minnesota's 10-7 win over Vancouver.
Here are some of the most mind-blowing stats from the goal-fest:
10 - The Wild hit double digits in goals, setting a new franchise single-game record, surpassing the previous best of eight.
7 - Minnesota struck for seven in the third period, a new franchise best for a single frame. No NHL team has scored more in a period since the Washington Capitals ran riot on the Tampa Bay Lightning on Feb. 3, 1999.
6 - Wild forwards Kirill Kaprizov (3-3-6) and Joel Eriksson Ek (3-3-6), are the first teammates to each score six points since Wayne Gretzky (2-4-6) and Tomas Sandstrom (0-6-6) did so for the Los Angeles Kings on Oct. 9, 1993, in a 10-3 win over the Detroit Red Wings. Kaprizov and Eriksson Ek also matched the club record for points in a game, tying Marian Gaborik, who did so twice.
5:45 - Minnesota scored six goals in under six minutes. It's the fourth-fastest mark to that tally in NHL history.
4 - The Wild bombarded the Canucks' net over a span of 2:17, setting a new franchise record for the fastest four goals scored.
3 - Kaprizov, Eriksson Ek, and Canucks forward J.T. Miller each scored a hat trick. This was the first game to feature three hat tricks since Jari Kurri, Luc Robitaille, and Mike Donnelly all scored three goals for the Kings in an 11-4 rout of the San Jose Sharks on Nov. 8, 1992.
.778 - It's an ugly save percentage for winning goaltender Marc-Andre Fleury, who replaced Filip Gustavsson (.688) in relief. Casey DeSmith (.680) played the entire game for Vancouver.
66.7% - Minnesota was scorching hot on the power play, converting on four of six opportunities.
The Penguins drafted Jagr fifth overall in 1990. He spent the first 11 years of his career in Pittsburgh, accumulating 1,079 points in 806 games while winning five Art Ross Trophies, a Hart Trophy, and two Stanley Cups.
The Rangers erased a three-goal deficit against the Islanders to storm back and win 6-5 in an outdoor edition of the Battle of New York on Sunday.
The game was held at MetLife Stadium in - ironically - East Rutherford, New Jersey.
Artemi Panarin scored the winner 10 seconds into overtime off a costly turnover by Noah Dobson. The play was reviewed momentarily as the net was knocked off its moorings before the puck crossed the line, but the goal was allowed after it was determined the Islanders dislodged the pipes.
The Rangers trailed 4-1 early in the second period and 5-3 early in the third. Chris Kreider and Mika Zibanejad scored less than three minutes apart late in the third to force the extra frame. Both goals came at 6-on-4 with the goalie pulled and the Rangers on the power play.
Igor Shesterkin struggled early between the pipes, allowing three goals before the midway mark of the opening period. But head coach Peter Laviolette stuck by his All-Star netminder, who settled in the rest of the way.
It was the second game at MetLife Stadium - home of the NFL's New York Giants and New York Jets - in as many days after the New Jersey Devils defeated the Philadelphia Flyers in the first matchup of the Stadium Series on Saturday.
The New York Islanders will host the 2026 NHL All-Star Game at UBS Arena, the league announced Sunday.
It'll be the Islanders' first time hosting the event since 1983.
"We have been looking forward to UBS Arena playing host to one of our major league events since before construction of this wonderful arena began," NHL commissioner Gary Bettman said.
There will be no 2025 All-Star Game because of the 4 Nations Face-Off. The 2026 All-Star Game will be played ahead of the 2026 Winter Olympics in Milan, which will be the first time NHLers compete since 2014.
Bettman said at All-Star Weekend in Toronto that the league plans on "using the (2026) All-Star Game as a send-off to the Olympics," meaning the players competing in both will travel from New York to Milan together.
The NHL didn't have All-Star Games before the Winter Olympics in 2006, 2010, and 2014. It did use the All-Star Game as a send-off ahead of the 2002 and 1998 Winter Games, though.
The 17,255-seat UBS Arena opened in 2021 at Belmont Park in Elmont, New York.
The Columbus Blue Jackets fired general manager Jarmo Kekalainen, the team announced Thursday.
President of hockey operations and alternate governor John Davidson, along with the club's hockey operations management team, will assume the general manager duties in the interim.
"This is one of the hardest days I have had in my career as Jarmo is a friend, someone I have a great deal of respect for, and someone who has done a lot of good things during his time here," Davidson said. "While the future of our club is bright, our performance has not been good enough, and it is time for a fresh perspective as we move forward."
The Blue Jackets named Kekalainen, who hails from Finland, the first European GM in NHL history in February 2013. He held the position for parts of 12 seasons, overseeing the best era in the franchise's history, which included four straight postseason trips from 2017-20.
Kekalainen is responsible for five of the club's six playoff berths in the team's 23 NHL seasons.
The highlight of Kekalainen's tenure - and the organization as a whole - came in 2019 when the underdog Blue Jackets upset the 62-win Tampa Bay Lightning with a four-game sweep in Round 1 of the postseason. It still marks the only best-of-seven playoff series win in franchise history.
Kekalainen went all-in at the trade deadline that year. He held on to pending unrestricted free agents Artemi Panarin and Sergei Bobrovsky and made splashes for Matt Duchene and Ryan Dzingel.
But the past few seasons haven't been kind to Kekalainen, as Columbus sits in last place in the Eastern Conference for the second straight season. Johnny Gaudreau has yet to live up to the hype of the franchise-record $68.25-million contract he signed as a free agent in 2022. This past offseason's additions of Damon Severson and Ivan Provorov also haven't fixed the club's issues on defense.
The Calgary Flames and New Jersey Devils had conversations about a trade involving goaltender Jacob Markstrom, according to TSN's Pierre LeBrun.
However, discussions reportedly did not escalate to the point where Calgary asked Markstrom if he would waive his full no-movement clause to accept a move to New Jersey.
Talks failed to progress over how much money - if any - the Flames would retain on Markstrom's contract, or what compensation the Devils would add to the deal in order to get the goalie's cap hit lowered, LeBrun added. It remains unclear if the trade can be revived.
Markstrom recently stated that he's open to the idea of being traded if the option presents itself but is content staying in Calgary.
"Whatever direction they want to go and what they want to do, I'm not going to force anything," he said.
Markstrom is under contract through 2025-26 with a $6-million cap hit - tied for fifth highest among netminders who have appeared in at least one game this season.
The 34-year-old Swede is enjoying an excellent season for the Flames, sporting a .916 save percentage in 33 appearances. He leads the league with 32.77 goals saved above expected, per Evolving-Hockey.
Markstrom struggled last season, but he was the Vezina Trophy runner-up in 2021-22 with a league-leading nine shutouts. He also finished fourth in voting in 2019-2020 and 10th in 2018-19.
Goaltending has long been an issue for the Devils, and 2023-24 is no exception. The trio of Vitek Vanecek, Akira Schmid, and Nico Daws has combined for a .894 save percentage. The 6-foot-6 Markstrom would undoubtedly be a big boost for a squad currently on the outside of the playoff picture.
The Flames have already begun selling off assets, such as Elias Lindholm. Fellow pending unrestricted free agents Noah Hanifin and Chris Tanev are expected to be dealt as well.
San Jose Sharks center Tomas Hertl will miss a minimum of "several weeks" after having a procedure to clean out loose cartilage in his left knee, the team announced Monday.
"I have been experiencing soreness in my left knee on and off this season," Hertl said in a statement. "After speaking with doctors and our medical staff earlier this year, it was clear that the injury was not going to get any worse and I could continue to play through it, including attending the NHL All-Star weekend in Toronto.
"After returning from Toronto and having additional conversations with my family and our team medical staff over the last week, I made the decision to have this procedure done now so that I can return to 100% as soon as possible."
Hertl is one of the lone offensive threats for the rebuilding Sharks, as he paces the team with 15 goals and 34 points in 48 games this season.
The 30-year-old is in the second season of an eight-year, $65.1-million contract with a full no-movement clause.
Sharks general manager Mike Grier said in September that if Hertl approached him about a trade then it's something he'd explore.
The Toronto Maple Leafs are among 12 NHL teams interested in signing Russian forward Maxim Tsyplakov, his agent, Alexander Chernykh, told The Athletic's Joshua Kloke.
Tsyplakov, 25, is in the final year of his KHL contract and enjoying a breakout season for Spartak Moscow with 30 goals and 15 assists in 58 games. He tallied 10 goals and 15 assists in 63 games the year prior.
The 6-foot-3, 190-pound forward has primarily played wing in the KHL, though the possibility of playing center was discussed during a Zoom call with Tsyplakov, Chernykh, and senior members of Leafs management last week, Kloke added.
The Maple Leafs could have a need at center next season. Third-line pivot Max Domi is a pending free agent, and there's a case to be made that John Tavares is better suited for the wing at this point in his career.
Tsyplakov is a north-south forward with a physical element to his game, as evidenced by his 128 hits this season - the fourth-most among KHL forwards.
