Edmonton Oilers Sign Leon Draisaitl To An Eight-Year Contract Extension
The Edmonton Oilers signed Leon Draisaitl today to an eight-year, $112-million contract extension with an average annual value of $14 million.
Draisaitl, 28, is entering the final season of his current eight-year contract with an AAV of $8.5 million, considered one of the best bargain deals in the league given his accomplishments over that period.
Since Draisaitl’s superstar breakout season in 2018-19, he sits second to teammate Connor McDavid in total points (643), second to Toronto Maple Leafs center Auston Matthews in goals (272) and is tied with New York Rangers winger Artemi Panarin with 371 total assists.
Drasaitl won the Hart Memorial Trophy, the Art Ross Trophy, and the Ted Lindsay Award in 2019-20. He and McDavid give the Oilers a lethal one-two scoring punch, turning them into Stanley Cup contenders entering 2024-25.
Draisaitl’s new contract will make him the NHL highest-paid player when it goes into effect on July 1, 2025, eclipsing Matthews’ $13.25 million.
SPECTOR’S NOTE: Everyone knew Draisaitl would seek top dollar on his next deal and everyone knew the Oilers would pay to keep him in Edmonton.
Some observers expected Draisaitl would seek more, perhaps between $15 million and $16 million annually. The $14 million AAV is approximately where most experts believed it would be.
Draisaitl has earned that hefty salary, though his new deal will grow more burdensome for the Oilers over the final four years when he’ll be in his mid-to-late 30s when a player’s skills inevitably deteriorate. The Oilers’ front office believes it’s worth it to re-sign their second-best player, especially when they’re in “win-now” mode and he’s still in his playing prime.
This signing should also be an encouraging sign for McDavid. He’s eligible for UFA status in July 2026. Seeing the Oilers open the vault for Draisaitl sends the message that they’re willing to invest in their top players. It’s also a sign that they’re serious about pursuing the Stanley Cup.
It should dispel any concerns from Oilers fans that McDavid will depart in 2026. Keeping Draisaitl in the fold will encourage their captain to stay in Edmonton.
Predicted this months ago,👌
Both Leon & Connor would re-sigh in Edmonton 100%,
Connor signs his extention Next Summer more than likley July 2025❗️👏
With Draisaitl’s new deal kicking in in 2025-26, a cautiously-projected cap of $92 mil, 6 UFAs not likely to be re-upped, so roughly $7 mil coming off the books there (Skinner – $3 mil; Perry – $1,150,000; Connor Brown – $1 mil, Ryan – $900,000 and Emberson – $950,000) and $2,300,000 for one more season of Jack Campbell’s buyout, the Oilers are committed to 16 (9F – McDavid, Draisaitl, Hyman, Kane, Nugent-Hopkins, Arvidson, Henrique, Janmark and Podkolzin – 5D (Nurse, Ekholm, Kulak, Josh Brown and Stecher – and 2G (Skinner and Pickard).
With a total cap hit of $75,087,000 for the above 16 they will have $16,913,000 with which to sign 7 to bring the roster up to 23. While on the surface that might look like more than enough, there is the spectre of their only RFA – RD Evan Bouchard who, coming off a cap hit of $3.9 mil, just finished a season of 81gp with 18g 64a 92 pts and a +34 so you know he is going to get a huge chunk. Some here have suggested as much as Nurse ($9.250,000).
If that is what transpires they are suddenly down to $7,663,000 with which to sign 6. Could there be trade or two in the offing involving someone like Arvidson and/or Kulak?
haha, I was typing a reply about why you think Skinner won’t be in net anymore and then remembered that JEFF is there too.
The ideal situation, if Bouch is open to it, is a two year bridge at 6m per. Gets us past having to resign McD AND Skinner next year and leaves Bouch alone at the front of the line to get paid. Then he can get a long term deal with more track record behind him and we can handle it much easier than now, increasing the chances of more post season winning…
hopefully the Oilers figure out a way to keep both McDavid & Bouchard. Maybe they could find a way to deal Nurse’s contract, more likely they’ll have to get rid of forwards like Kane and maybe even RNH
Good deal (and necessary deal for Oilers)
Good deal for Leon. Congrats.
Not sure if there was any deferral until 1 day after contract expires (every Cap $ saved counts!) ; but Oilers would have been wise to try for it
This sets up McDavid for $15.5 M – $16 M next summer; and Bouchard in the $10 M range
Closing in on $40 M Cap per year for top 3 starting 26/27…. when Cap may be approaching $100 M (40% for 3)
Top 4 closing in on 50% of Cap then
The Dubas model in other words
The difference (from Leafs) being; at the very least 1 Cup appearance (already accomplished) and a fair probability of more appearances and perhaps 1 or 2 cups!?!?!?
Dunno how they are going to fit Bouchard’s $10M next year. That would put them over $87.3M with 5 more to sign. And will the cap get to $93M?
Nmc I assume but whole 8? And modified ntc in the final years?
NMC the whole 8 years and the base salary ia 1 mill the 8 years. So pretty much as expected. To me it doesn’t look like much was left on the table. He earned it. Pretty easy to say he’d get more on the open market, even teams like Dallas or Vegas, it’d be hard to fit 15+ under a their cap and few teams have the cash flow to fork out almost 17 million July 1 each year. A lot of people didn’t think Edmonton would pull it off just like Winnipeg did. I wonder how much did the value of the franchise just go up. I’ll bet more than the cost of the contract
Not cheering against them.
Oil have to be the favourite in the west if not entire league . That definitely will increase team value.
Leon highest paid for now.