Connor McDavid is staying in Edmonton for two more years.
The Oilers announced Monday the captain — who led the club to back-to-back appearances in the Stanley Cup final over the past two seasons — has agreed to a two-year contract extension with an average annual value of US$12.5 million. ($17.1 million CAD)
While the deal doesn’t keep No. 97 in Edmonton colours long-term, it puts to rest the team’s biggest source of anxiety heading into the season after two straight years as Stanley Cup runner-up to the Florida Panthers.
McDavid, 28, is one of the most decorated active players in the NHL, with a trophy case that includes five Art Ross Trophies, three Hart Memorial Trophies, a Conn Smythe Trophy, a Rocket Richard Trophy and four Ted Lindsay Awards.
A generational talent with breathtaking speed, skill and vision, McDavid helped Edmonton snap a 10-season playoff drought in 2017.
McDavid was set to become an unrestricted free agent July 1, and getting him back under contract was the top priority.
“We’re just excited to get ourselves to where we are today,” Stan Bowman, the team’s general manager and executive vice-president of hockey operations, said on a video conference call with reporters.
“This is a very exciting day for our organization and for the fans.”
McDavid confirmed the news on the social media platform X before the Oilers made it official, posting “Our journey here continues,” with a photo of him standing alongside teammates at Edmonton’s Rogers Place.
While this pre-season has seen some hefty contracts doled out, including a record-setting eight-year, $136-million extension for Minnesota Wild winger Kirill Kaprizov, McDavid deferred the chance to cash in.
The extension’s average annual value of $12.5 million is identical McDavid’s current eight-year pact, which sets the tone for the organization, along with current and future teammates.
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The move to take far less money than market value mirrors what Pittsburgh Penguins captain Sidney Crosby — one of McDavid’s idols — has repeatedly done in hopes of bolstering his team’s roster.
And Bowman said the dollar amount was the Newmarket, Ont., product’s choice and not part of contract talks.
“The players were shocked as well,” Bowman said of McDavid’s teammates he spoke to Monday. “Like, ‘Holy cow, what a leader this guy is.’ I think everyone probably had the same reaction. But getting to know Connor how I have over the last year, he is a one-of-a-kind guy. He’s such a tremendous leader, and so motivated to try to win.
“That’s a testament to who he is as a person.”
Bowman repeatedly said the contract doesn’t change the organization’s priorities, but it’s also clear Edmonton is short on time to get over its Cup hump and keep McDavid beyond the 2027-28 season.
“It’s not like we’re planning out five years from now to be a team that might be able to win the Cup,” said Bowman, a three-time winner with the Chicago Blackhawks.
“Our focus last year was to win, our focus this year is to win.”
He added this negotiation was unlike any other he’s ever been part of.
“(McDavid) likes to know what’s coming and what the thoughts are and how I see the team and how we can get better,” he said. “He’s a very smart guy, in addition to being an amazing player.
“He’s got a lot of good ideas … it’s fun to talk hockey with him.”
Fellow star centre Leon Draisaitl signed an eight-year, $112-million extension with Edmonton in September 2024 — an agreement that carries a $14 million AAV and ties him to the franchise through 2032-33.
The Oilers made another significant move Monday, signing defenceman Jake Walman to a seven-year contract extension with an AAV of $7 million.
Viewed as one of the best players in the game, he recorded 100 points in just 67 regular-season games, as well as 33 points in the playoffs.
“Connor’s commitment to our team and our city is surpassed only by his singular focus on bringing a Stanley Cup back to fans of the Edmonton Oilers,” the team’s general manager, Stan Bowman, said in a release.
The Oilers’ home opener is Wednesday night against the provincial rival Calgary Flames.
With files from The Canadian Press
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