The Vancouver Canucks and goaltender Thatcher Demko have agreed to a five-year, $25-million extension, reports Sportsnet's Elliotte Friedman.

Demko is in the midst of a breakout season, posting a .917 save percentage and a 2.77 goals-against average in 25 games so far this year. He also ranks fifth in the NHL in goals saved above expected, according to Evolving-Hockey.

The 25-year-old netminder's success this season follows his coming-out party during the 2020 postseason. Replacing an injured Jacob Markstrom, Demko stopped 128 of 130 shots in four appearances against the Vegas Golden Knights before the Canucks were eliminated.

The Canucks let Markstrom walk as a free agent after Demko's strong playoff showing this summer and signed veteran Braden Holtby to a two-year, $8.6-million deal. Demko has thoroughly outplayed Holtby and solidified himself as the team's No. 1 goalie moving forward.

Vancouver selected Demko 36th overall in the 2014 draft. The native of San Diego was set to become a restricted free agent in the offseason.

Demko, defenseman Quinn Hughes, and forward Elias Pettersson made up a trio of key RFAs the Canucks had to sign following the campaign. With Demko's deal reportedly taken care of, Vancouver projects to have just over $20 million in cap space this offseason with a roster size of only 12, according to CapFriendly.

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