Draisaitl poised to take over title of NHL’s highest-paid player

Edmonton Oilers star Leon Draisaitl is set take over as the NHL's highest-paid player next summer after signing an eight-year contract extension on Tuesday.

Draisaitl, whose new deal is worth a total of $112 million, is the first player in NHL history to carry a cap hit of $14 million, which will begin in 2025-26. He will take over the top spot from Toronto Maple Leafs centre Auston Matthews, who has an average annual value of $13.25 million on his four-year deal that kicked in this year.

The 28-year-old forward will play out this season tied for the 47th-highest cap hit at $8.5 million in the last year of his eight-year, $68 million deal signed with the Oilers in 2017. 

The title of the NHL's highest-paid player has changed hands regularly over the past few years. Nathan MacKinnon grabbed the title for one year with his $12.6 million salary before Matthews' extension kicked in earlier this summer. Matthews' reign will also last just one year.

Oilers captain Connor McDavid, at an average annual value $12.5 million, held the mark of being the league's highest-paid player for five seasons before MacKinnon surpassed him.

It's likely that McDavid will also end Draisaitl's run atop the list at just one year as well as he becomes eligible to sign a contract extension next summer in what will be another key negotiation for the Oilers as they look to keep both superstars. 

Draisaitl had 41 goals and 106 points in 81 games this season, finishing seventh in the Art Ross race. Nikita Kucherov, signed at a cap hit of $9.5 million with the Tampa Bay Lightning, was first with 144, ahead of MacKinnon (140) and McDavid (132). 

Since being drafted third overall by Edmonton in 2014, Draisaitl has won the Hart Trophy, Art Ross Trophy and Ted Lindsay Award, along with five NHL All-Star nods. The German has 347 goals and 850 points in 719 career NHL games.

“This is a historic day for the Edmonton Oilers,” general manager Stan Bowman said of Tuesday's signing. “Leon’s commitment to our team, our city and Oilers fans everywhere cannot be overstated. His desire to help bring a Stanley Cup title home to Edmonton is central to everything he does both on and off the ice.”

The Oilers will join the Toronto Maple Leafs next season as the only teams with two players in the top 10 of the league's highest-paid players list. Toronto will have three players in that category this season before John Tavares' contract at an $11 million cap hit expires, with Mitch Marner just outside the top 10 with his cap hit of $10.9 million, which is also expiring. 
 

*The San Jose Sharks retained $1.5 million of Karlsson's cap hit in last year's trade to the Pittsburgh Penguins.