The Vancouver Canucks and their star goaltender, Thatcher Demko, are reportedly nearing a contract extension. According to multiple reports, the two sides have made significant progress, with an agreement on the term of the contract already in place. However, details regarding the dollar figure and structure of the deal are still being worked out. Demko is eligible to sign the extension on Tuesday, July 1st.

Demko, who will turn 30 in December, is entering the final season of his current five-year, $25 million contract, which carries an annual cap hit of $5 million. He is currently slated to become an unrestricted free agent at the conclusion of the 2025-26 campaign.

Drafted by the Canucks in the second round (36th overall) of the 2014 NHL Entry Draft, Demko has established himself as the team's undisputed starting goalie. Over his NHL career, all with the Canucks, he has amassed a record of 126-89-20 with a 2.81 goals-against average and a .910 save percentage in 242 games.

The 2023-24 season was a banner year for Demko, as he posted a 35-14-2 record with a 2.45 goals-against average and a .918 save percentage, finishing as a runner-up for the Vezina Trophy. However, injuries have plagued him in recent seasons. A knee injury prematurely ended his 2024 playoff run and sidelined him until December of the 2024-25 season. He sustained another lower-body injury in February, causing him to miss an additional 15 games. Due to these injuries, Demko only appeared in 23 games in the 2024-25 season, recording a 10-8-3 record with a 2.90 goals-against average and a .889 save percentage.

Despite the injury concerns, both Demko and Canucks President of Hockey Operations Jim Rutherford have expressed their desire to reach an agreement on an extension. The Canucks are seemingly committed to keeping Demko as their number-one goalie.

With a Demko extension potentially in place, the Canucks may consider trading goaltender Arturs Silovs, who has garnered interest from other teams around the league. Vancouver signed Kevin Lankinen to a five-year, $22.5 million deal in February, giving them three NHL-caliber goalies.

A new contract for Demko would provide stability and solidify the Canucks' goaltending situation for the foreseeable future. The team and its fans are hoping that Demko can stay healthy and replicate his stellar performance from the 2023-24 season.