The Edmonton Oilers may be on the verge of securing a significant win this offseason by locking in defenseman Jake Walman to a long-term contract extension. Acquired by the Oilers from the San Jose Sharks during the 2024-25 season, Walman has quickly become a key component of Edmonton's blue line. With his current contract expiring at the end of the 2025-26 season, the Oilers have the opportunity to sign him to an extension before he hits unrestricted free agency.
Several factors suggest that Walman could be a steal for the Oilers. He is currently playing on a contract with a $3.4 million average annual value (AAV), which is a bargain for a defenseman playing top-four minutes. The Oilers, facing significant upcoming expenses with Leon Draisaitl's extension and Evan Bouchard's next contract, benefit greatly from such cost-effective deals.
Walman, who will turn 30 next season, is coming off a strong year and has earned approximately $12 million in his career. The appeal of long-term security could be a major factor in his decision-making, something the Oilers can leverage. Under the current Collective Bargaining Agreement (CBA) rules, Edmonton can offer Walman up to eight years on an extension, while other teams in free agency can only offer a maximum of six years.
An eight-year deal with an AAV of $6 million might be enough to secure Walman's signature. This figure would be significantly less than the $7.5 to $8 million he could potentially command on the open market. The attraction for Walman lies in the additional contract years, financial stability into his late 30s, and a legitimate chance at winning the Stanley Cup alongside Connor McDavid and Leon Draisaitl. This scenario presents a win-win situation: Walman secures the most lucrative contract of his career, and the Oilers gain a dependable defenseman at a potentially discounted rate.
Oilers coach Kris Knoblauch has praised Walman's versatility and puck-moving abilities. Since joining the team, Walman has been utilized in all situations, including power play and penalty kill, showcasing his adaptability and value to the team. His defensive game and ability to contribute offensively have solidified his role as a key player for the Oilers.
The trade that brought Walman to Edmonton saw the Oilers send a conditional first-round pick in 2026 and prospect Carl Berglund to San Jose. Some Red Wings fans were left "flabbergasted" by the fact that the Oilers were able to acquire Walman, after the Red Wings had traded him to San Jose. Given his performance and integration into the Oilers' system, the acquisition has proven beneficial for both Walman and the team.
While there's always a risk associated with long-term contracts, particularly as players age, the potential reward of securing Walman at a reasonable cap hit outweighs the risk for the Oilers. If Walman maintains his current level of play, a $6 million AAV could look like a bargain in the coming years. This would provide the Oilers with crucial financial flexibility as they navigate future contract negotiations with their star players.
Ultimately, whether the Oilers can convince Jake Walman to sign an extension remains to be seen. However, the opportunity is there for Edmonton to potentially land one of the biggest steals of the offseason by securing a top-four defenseman at a cost-effective price. By offering the security of an eight-year deal and a chance to compete for a Stanley Cup, the Oilers have a compelling case to keep Walman in Edmonton for the long haul.
