As the National Hockey League鈥檚 February 26 trade deadline approaches, the have made their decision on defenseman Erik Gudbranson鈥檚 future.

Vancouver announced Tuesday that they had signed him to a three-year contract extension worth approximately $4 million a year through the end of the 2020-21 NHL season.

鈥淓rik is an important part of our team and provides a physical element to our blueline,鈥� general manager Jim Benning said in a statement. 鈥淗is leadership qualities help us as we continue to integrate younger players in our lineup.鈥�

It is safe to say Gudbranson, a former third overall pick in the 2010 NHL entry draft, has not lived up to his full potential.

Vancouver didn鈥檛 re-sign the 26-year-old for his offensive upside, as he鈥檚 only had two goals and two assists in 41 games this season.

After the New York Rangers traded defenseman Nick Holden to the Boston Bruins for a third-round pick in 2018 on the same, it was obvious that Vancouver would have been able to trade Gudbranson to a number of playoff-contending teams looking for a big and physical presence during long playoff runs.

One would have to be crazy to offer a third-pairing defenseman a $4-million average annual value for the next three years. Gudbranson is now set to earn more than the likes of Nashville鈥檚 Roman Josi, Anaheim鈥檚 Cam Fowler and Pittsburgh鈥檚 Olli Maatta.

Benning is aiming to define two aspects of this extension.

First, Vancouver is re-signing Gudbranson to be the player that they want him to be. Since arriving in Vancouver, he hasn鈥檛 showed his full potential on a team that is in the midst of a rebuild. He is young, which allows for improvement in the coming years.

"Good for the team, good for the organization. He's only 26 and we haven't seen the absolute best from him yet." Coach Green on signing.

鈥� Vancouver Canucks (@Canucks)

Secondly, this shows Benning is standing firm on his move two years ago to trade Jared McCann and a pair of 2016 NHL entry draft picks for Gudbranson. Had he traded the Ontario player before the deadline, he would have admitted to a mistake.

It is unclear as to whether Gudbranson would have earned the same contract entering free agency following July 1, or he would be left picking from the few offers he receives.

How do the Canucks benefit from the extension? According to TSN鈥檚 Bob McKenzie, the deal does not include a no-trade clause.

In the long run, it is possible the Canucks could flip Gudbranson onto another team, as the prospect of adding a 6-foot-6, 220-pound defenseman would provide a great amount of interest from GMs.

For now, Gudbranson will be sticking with Vancouver鈥檚 rebuild plan over the next three years in the hopes of returning to playoff hockey.

- with a file from The Canadian Press