After signing Roberto Luongo to a 12-year/$64 million deal, Mike Gillis went on a few sports shows, including the FAN 590 where he revealed this little nugget about Lui’s no-trade clause:
There is a point in time where Roberto can, if we’re not on track in a number of years, he can ask and we would accommodate a move for him. And there’s another one that’s reciprocal for us.
Gillis wasn’t specific on the date, but I’d dare guess that Lui’s out clause is around the time period the Sedins’ contracts expire and the Canucks’ is around the time he turns 38 years old.
A 12-year commitment is a long commitment, and there were some concerns that it may have been too long. Now that we know that there are, in fact, a couple of out clauses should quell those concerns. From the Canucks’ perspective, the ability to move Luongo (albeit limited) gives them some flexibility to rebuild down the road.