Heading into the season, the Edmonton Oilers' main concern was the expiring contract of superstar forward Leon Draisaitl. This concern is no more as he signed a massive, eight-year extension with a cap hit of $14 million. This will likely make Draisaitl the highest-paid player in the NHL at the start of the 2025-26 season. Oilers fans are ecstatic about retaining their superstar for the next eight years, but the consequences of this signing are far greater than what people are noticing.
The first major problem with this contract is the term. When it comes to signing superstars, teams usually opt for longer deals to reduce the player’s yearly salary. This allows teams to save money each season while the player earns more overall money on his contract. The reasoning behind this is getting a bargain in the early years of the contract while overpaying in the later years once the player ages and his abilities decline. The other, riskier option is signing a bridge contract, which is a short-term deal with a high salary. This ensures that the player lives up to his contract for its entire duration but it is a heavy burden on the team’s salary cap situation and creates a major threat of the player either demanding even more money for his next contract or leaving the team entirely at the end of it. This Draisaitl contract does not fit either structure. Draisaitl is 28 and will be 37 by the time this extension ends and at that age, he will likely not be on the same level he is now. At the same time, $14 million is by no means a bargain for a player like Draisaitl. The only contract that can be compared to this is the one Nathan MacKinnon signed two years ago which made him the highest-paid player at the time. The only difference is MacKinnon’s cap hit is $1.4 million less than Draisaitl’s and he is the Avalanche’s best player. Auston Matthews also has a similar cap hit but since it is only a four-year deal, it isn't a great comparison. The Oilers seemingly got the short end of the stick when it comes to both term and average annual value (AAV).
The other concern is the inevitable issues the Oilers will face in their negotiations with Connor McDavid. Despite no longer being the highest-paid player in the league, McDavid is still the best hockey player in the world. With only two years remaining on the contract he signed six years ago, the Oilers must begin considering what type of contract they will need to offer. Considering the amount Draisaitl just signed for, it is hard to imagine how much money McDavid can command. Depending on the term of his new contract and how well he performs over the next season or two, McDavid’s AAV could very well be over $15 million and potentially close to $17 million. Having these two contracts along with still having Darnell Nurse, will create horrible cap troubles for the Oilers which will make it difficult to surround these superstars with good complementary players.
This signing may seem like a huge win now, but a year from now, when it is time to discuss a McDavid extension, Oilers fans may not cheer as loud as they did when the Draisaitl contract was announced.
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