Oilers sign Draisaitl to eight-year, $112M extension

EDMONTON — Leon Draisaitl says he wants to be an “Oiler for life.”

The star forward took a big step towards that goal by signing an eight-year contract extension with the Edmonton Oilers. The deal, announced Tuesday has an average annual value of US$14 million, the highest in NHL history.

“I have a hard time picturing myself in a different jersey,” said Draisaitl, who scored 41 goals and added 65 assists for 106 points in 81 regular-season games last season.

He added another 10 goals and 21 assists through 25 playoff games, helping propel Edmonton to its first Stanley Cup final appearance since 2006.

He was set to become an unrestricted free agent next summer.

TSN Hockey Insider Pierre LeBrun reports the deal is front-loaded and includes a full no-move clause throughout all eight seasons.

Draisaitl’s deal is just the first of three major targets general manager Stan Bowman needs to tackle in the next couple of years. Defenceman Evan Bouchard’s $3.9 million bridge deal ends after this season, positioning him for a significant raise.

And, after this season, negotiations can begin with three-time MVP Connor McDavid, who is likely to command a contract that surpasses Draisaitl’s.

McDavid is currently on a deal that pays him $12.5 million per season, and expires at the end of the 2025-26 season.

“Certainly, there’s going to be challenges in the future,” Bowman said of the team’s need to stay under the salary-cap ceiling and lock down all three players.

“But, that’s for us to figure out down the road.”

Bowman said that players like Draisaitl are simply irreplaceable, so that’s why the deal was his “top priority” since he was hired earlier this summer.

“Players like Leon are special.” said Bowman. “There’s not many people in the world who can play hockey like he does. There’s no way we can ever replace what Leon brings to the table. He’s a huge part of our team; he has been and will continue to be.”

Draisaitl signed an eight-year, US$68 million contract extension in August 2017 that carried an annual average cap hit of $8.5 million — and quickly turned into one of the NHL's bargains — that expires after the 2024-25 season.

The 28-year-old centre has 347 goals and 503 assists for 850 points in 719 regular-season games since getting selected third overall at the 2014 NHL draft.

With those eye-popping numbers, some GMs might even see the $14-million annual cap hit as a bargain. Draisaitl acknowledged the balance between maximizing his earnings and leaving the team some flexibility to build for another Cup run.

"It's a fine line and I think that's where negotiations normally probably get to a standstill and it doesn't go any further,” said Draisaitk. “We know you can't win with two-, three- or four-man rosters. It's just not possible in this league. This league's too good. I'm very happy it's done ... and I can focus on playing my game and continuing to get better and play my best hockey, especially when it matters most."

Draisaitl is hopeful his extension will lead to a long-term deal for McDavid, keeping the NHL's top one-two punch together for years to come.

“Connor’s going to do what’s best for him, right? That’s just the way this works,” said Draisaitl. “It’s supposed to work that way. I did what I thought was best for me, personally. Do I hope that Connor follows along? I would be lying if I said no. Of course I want him to stay on board. I want all our pieces to stay on board.”

But, does being the new highest-paid player in the NHL put a target on Draisaitl’s back? Will it make him grip his stick more tightly in the coming years?

“I don’t know about the word, ‘pressure.’ I think it’s a responsibility more so than pressure, maybe. I’m aware of my responsibility, I’m aware of the commitment that (owner Daryl Katz) and the entire Oilers organization has given me. It’s my time to give that back in a way, right? I’m aware of my responsibility. Is it pressure? In certain moments, there is pressure. But, you know I’m going to get paid a lot of money to handle those moments.”

This report by The Canadian Press was first published Sept. 3, 2024.