The Canucks Control The Waiver Wire; Recent History Shows Why It Matters

There are few rewards for finishing last in the NHL, but the Vancouver Canucks are about to receive one.

After ending the 2025–26 season in 32nd place with a 25-49-8 record, Vancouver will hold the league’s highest waiver priority until November 1. If multiple clubs claim the same player, the Canucks get the player. Priority does not disappear after one use. Vancouver would remain first after making a claim, allowing General Manager Ryan Johnson to add multiple players.

The Canucks know how much unfinished talent can hide on the waiver wire. Vancouver once snuck Jacob Markström through waivers, and every team passed. The organization was fortunate. Markström developed into a starting goaltender and has since played over 550 NHL games.

Now, the Canucks are on the other side of that equation. If another organization exposes the next Markström, Vancouver gets the first opportunity to decide whether he is the player they cannot let get away.

Two Claims In Two Days

The Arizona Coyotes finished 31st before making two claims in October 2022. They claimed defenceman Juuso Välimäki from the Calgary Flames on October 9, then added goaltender Connor Ingram from the Nashville Predators the next day.

Calgary selected Välimäki 16th overall in 2017, but injuries disrupted his development. After playing nine NHL games in 2021–22, he produced four goals and a career-high 34 points in 78 games with Arizona. Although the Utah Mammoth waived him in February 2025, the franchise received nearly 200 games without surrendering an asset.

The next claim produced a greater return. Ingram became the Coyotes' starter, tied for the NHL lead with six shutouts in 2023–24, and won the Bill Masterton Memorial Trophy. In two days, Arizona found a productive defenceman and a starting goaltender. Neither required a trade.

When A Claim Becomes A Building Block

The Columbus Blue Jackets found a longer-term piece when they claimed Dante Fabbro from Nashville in November of 2024. Selected 17th overall in 2016, Fabbro received a fresh opportunity alongside Zach Werenski. That year, Fabbro recorded career highs of nine goals and 26 points in 68 games with a plus-20 rating. The Blue Jackets then signed him to a four-year, $16.5-million extension.

Columbus acquired a defenceman they valued at more than $4 million per season without surrendering an asset. Fabbro didn't meet every expectation attached to his draft position, but becoming a dependable NHL defenceman made the claim a clear success.

Eeli Tolvanen offers the offensive equivalent. The Predators waived the 30th-overall pick in December 2022 after he put up four points in 13 games. The Seattle Kraken already had a 16-8-3 record when they claimed him, meaning most teams had the first opportunity. Tolvanen went on to score 16 goals in 48 games with Seattle that season. He developed into a middle-six forward, producing three consecutive seasons with more than 35 points and scoring 23 goals in 2024–25.

The Right To Be Selective

Successful claims remain the exception.  A player normally reaches waivers because something has stalled, and a new organization cannot guarantee a different result.

There are also costs. A claimed player occupies a spot on the 23-man roster, counts against the salary cap and may force Vancouver to waive someone else.

If the Canucks later place him back on waivers, his former club could reclaim him. If they were the only claimant, they could assign the player directly to the AHL. A claim is therefore a commitment, not an easy way to build depth in Abbotsford.

The CBA limits a flip. Before trading the player that season, Vancouver must first offer him to any clubs whose original claims were unsuccessful. That selectivity should be guided by what Vancouver needs.

The Canucks scored 216 goals last season, ranking 31st, and no player reached 25 goals. A young forward with offensive upside would have an opportunity. A defenceman capable of handling a meaningful role could also strengthen a group being rebuilt around Zeev Buium.

The best opportunity may not arrive during the final training-camp cuts. Injuries, returning players and early-season cap pressure will create more decisions throughout October.

Vancouver does not need to find a star. A middle-six forward, dependable defenceman or capable goaltender would be a meaningful return on an acquisition that costs no draft capital. Välimäki, Ingram, Fabbro and Tolvanen each became valuable after another organization moved on.

The Canucks now get the first opportunity to identify the next one. Johnson does not need every gamble to work. He only needs to make sure Vancouver doesn't pass on the one that could.

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