After months of speculation, Elias Pettersson is remaining in Vancouver for the long haul.

The Swedish superstar agreed to a massive eight-year, $92.8 million contract extension with the Canucks on Saturday, the team announced, making him the fifth-highest paid player in the National Hockey League.

The contract carries an AAV of $11.6 million.

It's a well-deserved pact for a player who has emerged into one of the premier centers in the NHL, and the franchise cornerstone will be calling British Columbia home for the next decade.

“This is a very exciting day for me and my family. I am very happy to be continuing my career as a member of the Vancouver Canucks. I love this city and playing in front of the fans,” Pettersson said in a statement on Saturday.

“We have an exciting group and believe we can do good things in the future. Both Jim Rutherford and Patrik Allvin have done a great job in building this team and creating a culture, along with Rick Tocchet. And lastly I want to thank the Aquilini family for this opportunity.”

Canucks GM Patrik Allvin had high praise for one of his best players after pen was put to paper.

“This is a very important signing for the Vancouver Canucks,”Allvin said. “Elias is one of the top players in the National Hockey League and is a key member of our leadership group. We know his best days are ahead of him and with his high end skill and desire to be the best, we look forward to seeing Elias succeed and grow.”

Elias Pettersson continues to lead Canucks

The Swedish superstar is in the midst of another excellent campaign, with 29 goals and 75 points over 62 games in 2023-24. He broke out last year to the tune of 39 goals and 63 assists.

Pettersson was playing out the final season of a three-year, $22.05 million contract he signed with the team, and would have been a restricted free agent at the conclusion of the campaign.

He was selected No. 5 overall by the Canucks in the 2017 NHL Draft. The four-time All-Star has scored at better than a point-per-game pace throughout his six-season NHL career.

With Elias Pettersson locked up, the Western Conference-leading Canucks can get back to the business of trying to bring a Stanley Cup to Vancouver in 2024.