Connor McDavid Signs Contract Extension

Earlier today, as was reported by TSN and Sportsnet, Connor McDavid signed an eight year extension with the Edmonton Oilers.  The 20 year old captain’s deal is worth $100 million with an AAV of $12.5 million with a large percentage of this deal reportedly being a signing bonus.  This deal will give McDavid the highest cap hit of any player in the league but still significantly less than the $15 million max player contract that is expected in the upcoming season.  I think that McDavid would have been warranted in asking for the max salary considering how good he already is and still has room to develop. It was originally rumored that McDavid was looking for something in the $14 million range and then that was reduced earlier today to $13.2 million annually.  I think that the fact that McDavid was willing to accept a deal so much less than what he could have earned should show Edmonton fans that he is happy playing for the Oilers and wants to spend most of, if not all of, his career with the team.  It also shows that he values the team’s success more than his own and didn’t want to put the team in a place similar to the one Chicago finds themselves in with both Toews and Kane making $10.5 million per season.  By signing this deal, it allows Edmonton to sign Leon Draisaitl this offseason to a lengthy deal and ensure that they can re-sign other RFAs as they arise.

I love this deal for both McDavid and the Oilers because it pays McDavid for his play and production and still allows him to be a free agent at age 29.  This means that he could sign another eight year deal in 2026, assuming that the CBA doesn’t change drastically between now and then.  Also, even though he left some money on the table, he will be able to make that money back in endorsement deals.  I like this deal for Edmonton because it allows them to develop their cap picture moving forward and plan out how they want to re-sign players.  They also got a relatively friendly contract, despite the fact that they were willing to pay whatever McDavid wanted.  The salary they are paying him is greatly eclipsed by the amount of revenue McDavid generates annually and it was key for the Oilers to ensure that he signed an eight year deal.  Additionally, there is some assumption that salary cap should increase in the future and if that is the case, it makes this contract all the more team-friendly.

Other Deals Signed Today

  • RW Jesper Fast re-signed with the New York Rangers for 3 years with an AAV of $1.85 million
    • Previous Contract: 2 years, $1.9 million with an AAV of $950,000 signed with the Rangers.
    • Original Projection: I predicted that Fast would re-sign with the Rangers for 6 years with an AAV of $3 million.
    • Thoughts: I think this is a smart deal for both sides because it gives Fast a nice raise over his previous salary while also giving him incentive to perform for his next deal.  I originally thought that they would come together on a six year deal with a higher AAV because it made sense to me that the Rangers would like to lock Fast down for the foreseeable future.
  • D Jake Dotchin re-signed with Tampa Bay for 2 years with an AAV of $812,500
    • Previous Contract: 3 years, $1.85 million with an AAV of $616,667 signed with Tampa Bay.
  • LW Andre Burakovsky re-signed with Washington for 2 years
    • Previous Contract: 4 years, $2.775 million with an AAV of $894,167 signed with Washington.
    • Original Projection: I predicted Burakovsky would re-sign with Washington for 2 years with an AAV of $3.5 million.
    • Thoughts: This deal is the exact same one as the bridge deal signed by Evgeny Kuznetsov before he became a free agency this offseason. It makes perfect sense for the Capitals to sign Burakovsky to a similar deal because it will allow them to determine the type of player he is going to develop into.  It also buys them some time for players’ contracts to expire and make further moves to ensure that they have the cap space to re-sign Burakovsky to a lengthy deal when this contract expires.
  • RW Nail Yakupov signed with Colorado for 1 year, $875,000 deal
    • Previous Contract: 2 years, $5 million with an AAV of $2.5 million signed with Edmonton.
    • Original Projection: I predicted that Yakupov was going to sign with Washington for 1 year and $1 million.
    • Thoughts: I’m guessing that Colorado was one of the few teams interested in signing Yakupov after his lackluster career thus far. It could be a good move for both sides because Yakupov should have plenty of playing time to show that he can score in the NHL.  It also makes sense for Colorado because if he performs, they could flip him at the trade deadline or attempt to sign him to a longer deal during the season, and if he doesn’t, they just let him leave after the season.
  • C David Desharnais signed with the New York Rangers for 1 year and $1 million
    • Previous Contract: 4 years, $14 million with an AAV of $3.5 million signed with Montreal.

*All stats and information came from capfriendly.com, tsn.ca, and sportsnet.ca

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