As Connor McDavid heads into the final year of his current contract, the Edmonton Oilers and their fans are eagerly anticipating news of a contract extension for their captain. Recent reports suggest that negotiations are expected to intensify following McDavid's participation in Team Canada's Olympic orientation camp in Calgary.

Elliotte Friedman, an NHL insider, mentioned on the "32 Thoughts" podcast that he anticipates discussions between the Oilers and McDavid's representatives to progress swiftly after the camp concludes. Friedman suggests that the Oilers are prioritizing getting the deal done. Other sources indicate that the team and player representatives might wait until McDavid is back in Edmonton to finalize the agreement.

The timeline aligns with earlier reports indicating Edmonton's intention to finalize the deal upon McDavid's return to the city. With McDavid's current contract nearing its end, this extension stands as one of the most significant storylines of the NHL offseason.

There is speculation regarding the potential terms of the new contract. The Athletic's Allan Mitchell suggests that an eight-year extension would be the most beneficial option. However, other reports indicate that McDavid is not looking for an eight-year term. The 2 Mutts Podcast suggested that a three- to four-year deal with an average annual value (AAV) of around $16 million is possible.

Given the magnitude of McDavid's contract, the Oilers are expected to make the announcement a significant event. Rather than a virtual update, the team is reportedly planning a press conference at Rogers Place to mark the occasion. This approach reflects the importance of McDavid's commitment to the franchise and the excitement it generates among fans.

McDavid himself has stated that his decision to re-sign with the Oilers hinges on the team's ability to consistently compete for the Stanley Cup. He emphasized that "If I feel that there's a good window to win here over and over again, then signing is no problem". With Leon Draisaitl already secured with the Oilers through the 2032-33 season, the team's long-term competitive outlook appears promising.

General Manager Stan Bowman has repeatedly affirmed that McDavid is the organization's top priority. Bowman acknowledged the need to respect McDavid's timeline and preferences throughout the negotiation process. Jason Strudwick of TSN believes that McDavid will sign an extension before training camp to avoid distractions.

As the clock ticks down on McDavid's current deal, the coming days and weeks promise to be pivotal in determining the future of the Oilers and their superstar captain.