By Daniel Nugent-Bowman, Chris Johnston, and Pierre LeBrun
The Edmonton Oilers have successfully completed a significant piece of their offseason strategy, as their captain, Connor McDavid, has officially signed a contract extension with the team. This pivotal announcement came on Monday, marking a vital step for the franchise and its future aspirations. The new deal is structured for two years and boasts an impressive annual average value (AAV) of $12.5 million.
McDavid’s contract extension is set to commence at the beginning of the 2026-27 NHL season, ensuring that the 28-year-old superstar remains under the Oilers' control for three additional seasons. He has one season left on his current eight-year contract, which also carries a $12.5 million AAV and was signed on July 5, 2017, just before his entry-level contract expired.
Since signing his previous contract, Connor McDavid has solidified his status as one of the greatest players in NHL history. He has been awarded the prestigious Hart Trophy three times and the Art Ross Trophy five times. His accolades also include the Rocket Richard Trophy in the 2022-23 season and the Conn Smythe Trophy in 2024. Last season, McDavid achieved a remarkable milestone, becoming the fourth youngest and fourth fastest player in NHL history to reach 1,000 points, accomplishing this feat at just 27 years and 306 days over 659 games. To date, he has accumulated 1,082 points in 712 career games and boasts an impressive record of 150 points in 96 playoff games, placing him third all-time behind legends Wayne Gretzky and Mario Lemieux with an average of 1.53 points per game.
As the Oilers look ahead, losing Connor McDavid after the upcoming season would have been a significant blow. Given his extraordinary track record and recognition as the best player in hockey, McDavid had the potential to become the first player in the salary-cap era to secure the maximum allowable salary of 20% of the cap, regardless of the contract term. However, he chose to take a discount, mirroring his approach from over eight years ago.
Interestingly, McDavid did not opt for another maximum-term, eight-year extension, a decision that contrasts with his close friend and teammate Leon Draisaitl, who signed such a deal last summer. This extension represents a softer commitment and a compromise for McDavid. It symbolizes his loyalty and good faith not only to his teammates and the organization but also to former agent Jeff Jackson, who became the Oilers' hockey operations CEO in August 2023. Jackson has deep ties to the city, and his wife recently opened a restaurant, Bar Trove, in downtown Edmonton.
Despite the positive news, McDavid has made it clear that his foremost priority is winning. This sentiment was echoed during his year-end availability and reiterated throughout the season. The Oilers have yet to capture a championship, despite reaching back-to-back Stanley Cup Finals. With an aging core and a lack of elite prospects, McDavid’s presence reassures the team’s competitive outlook. However, he is cautious not to commit to a long-term deal in case the situation does not evolve positively.
This story will be updated as more information becomes available.
(Photo: Katharine Lotze / Getty Images)
