As Connor McDavid enters the final year of his eight-year, $100 million contract with the Edmonton Oilers, discussions about a contract extension are gaining momentum. With McDavid eligible to sign an extension this summer, the Oilers are keen to secure their captain's future and avoid him becoming an unrestricted free agent in 2026.

According to recent reports, a timeline for McDavid's potential contract extension is emerging. The 2 Mutts Podcast suggests that McDavid could sign a shorter-term extension during Team Canada's Orientation Camp in Calgary, scheduled for late August. The plan is reportedly to announce the contract extension before Captain Skates begin and training camp starts. NHL insider Elliotte Friedman also mentioned that he expects the Oilers and McDavid to work on finalizing the extension after he returns to Edmonton from the Team Canada meetings next week.

While the exact terms of the contract are yet to be determined, there is speculation about the average annual value (AAV). The 2 Mutts Podcast suggests that the AAV could be around $16 million to $17.5 million. They also speculated McDavid and the Oilers will agree to a contract extension by or on September 3rd, for 3 to 4 years at $16M AAV. McDavid currently makes an AAV of $12 million.

The Oilers have already re-signed Leon Draisaitl and Evan Bouchard to significant extensions. Draisaitl's AAV is $14 million, while Bouchard's is $10.5 million. McDavid's new contract could mean that the Oilers have over $40 million dedicated to just three players.

McDavid's mindset towards an extension seemed uncertain after the Oilers' second consecutive loss to the Florida Panthers in the Stanley Cup Final. He stated that he would do what is best for himself and his family, which raised concerns among Oilers fans. However, he also emphasized the collective effort to win, suggesting a willingness to stay with the team if he believes in their chances of success.

Bob Stauffer said talks may start to "percolate a bit" after teammate Leon Draisaitl's wedding in early August. August appears to be the unofficial kickoff for serious negotiations between McDavid's camp and the Oilers front office.

The Oilers recognize the importance of McDavid's extension for the franchise's future. Social media content creator for Oilers Nation @Woz added, “The more I think about it, the more it makes sense that the Oilers and McDavid would wait until he's back in town to finalize the extension. Considering the importance of the deal, they'll want to have a press conference at Rogers Place, etc. Not some Zoom interview."