The Edmonton Oilers have made a massive commitment to Leon Draisaitl, inking the superstar forward to an eight-year, $112 million contract extension. The deal, which kicks in at the start of the 2025-26 season and runs through 2033, carries an average annual value of $14 million, making Draisaitl the highest-paid player in the NHL based on cap hit. This move raises several questions about the Oilers' long-term strategy and the implications for the rest of their roster.
Is this contract an overpayment? On the surface, $14 million per year is a staggering number. Draisaitl is undoubtedly one of the league's premier offensive talents. Drafted third overall in 2014, he leads his draft class in games played (719) and points (850). His 347 goals rank second, just behind David Pastrnak, and his 108 playoff points are the most for any player from his draft class. He's a consistent point-per-game player, a dominant force on the power play, and possesses a rare combination of size, skill, and hockey sense.
However, the NHL is a salary-cap league, and every dollar counts. Committing such a significant portion of the cap to one player inevitably creates challenges in building a well-rounded team. Can the Oilers afford to pay Draisaitl this much while also retaining other key players and addressing their needs on defense and in goal?
The Oilers clearly believe that Draisaitl is worth the investment. General Manager Stan Bowman, who was hired in late July, called signing Draisaitl his top priority. "Players like Leon are special: There's not many people in the world that can play hockey like he does," said Bowman. "There's no way we could ever replace what Leon brings to the table. He's a huge part of our team, he has been and he will continue to be".
This contract signifies the Oilers' intention to contend for the Stanley Cup for the foreseeable future. Draisaitl has expressed his desire to remain in Edmonton for his entire career. "For me, it was always the Oilers," Draisaitl said. By locking him up long-term, the Oilers avoid the risk of losing him to free agency and maintain a core piece of their offense.
What does this mean for Connor McDavid? McDavid, arguably the best player in the world, is also due for a contract extension in the near future. He will be eligible to sign his extension on July 1, 2025. He’s currently playing on a contract with a $12.5 million cap hit. Draisaitl's new deal sets a precedent for McDavid's negotiations. Will McDavid demand even more than $14 million per year? Can the Oilers afford to pay both players potentially over $28 million combined?
The Oilers are betting that having two of the league's top players is a recipe for success. However, they must also find a way to build a supporting cast that can compete with the league's best teams. Promising defenseman Evan Bouchard, who broke out with 82 points last season, will be a restricted free agent with arbitration rights at the end of this season, at age 25.
The Oilers and their fans will hope that Draisaitl's signing will be the first of three contract dominos to fall in their favor. The Draisaitl contract is a bold move by the Oilers. It demonstrates their commitment to winning and their belief in Draisaitl's exceptional talent. However, it also presents significant challenges in terms of roster construction and salary cap management. Only time will tell if this gamble pays off and brings the Stanley Cup back to Edmonton.
