Edmonton Oilers Sign McDavid to Eight-Year, $100 Million Extension

The Edmonton Oilers have signed captain Connor McDavid to an eight-year extension worth $100 million. General Manager Peter Chiarelli announced the signing at a press conference at Rogers Place Hall of Fame Wednesday. Bob Nicholson and Connor McDavid, as well as McDavid’s parents, were also present.

Earlier reports speculated that McDavid’s contract would be an eight-year, $106 million extension, which comes out to around $13.25 million per year. However, as per TSN’s Bob McKenzie, McDavid was not comfortable with such a high AAV and could possibly have asked to lower it. McDavid will make a bit less than that, taking home $12.5 million per season.

Edmonton Oilers

McDavid was Edmonton’s first-overall pick in the 2015 NHL Entry Draft. After an outstanding yet short rookie campaign thanks to a broken clavicle, McDavid roared back his sophomore year. In 82 games this season, he finished with 30 goals and 100 points to take the NHL scoring title. Not only that, but he led the Oilers out of their 11-year playoff drought and helped them reach Game 7 of the second round.

Not only did the 20-year-old wear the “C” as the youngest captain in league history, but he scored 30 goals and 100 points to take the NHL scoring title in 82 games this year. Not only that,  he led the Oilers out of their 11-year playoff drought and helped them reach Game 7 of the second round. McDavid also took home the Art Ross, Ted Lindsay and Hart Memorial Trophy for his work this year.

Though the salary may be concerning, the Oilers should have no problem when it comes to cap space. They currently have around $18 million remaining in cap space for this season, and McDavid’s contract won’t take effect until next year. Considering the pay cut as well, the Oilers should be fine when it comes to money.

Next: Edmonton Oilers Should Consider Jaromir Jagr

The team still has to re-sign Leon Draisaitl to an extension and may want to pick up some more pieces in free agency in the offseason. Still, they can check off a big task on their to-do list; they’ve locked up their captain and have the league’s top player for eight more years.