Oilers sign McDavid to 2-year, $25M extension

The Edmonton Oilers signed captain Connor McDavid to a two-year contract extension carrying an average annual value of $12.5 million, the team announced Monday.

That's the same cap hit as the eight-year deal he's playing on now, which runs through 2025-26.

"Connor's commitment to our team and our city is surpassed only by his singular focus on bringing a Stanley Cup back to fans of the Edmonton Oilers," general manager Stan Bowman said in a statement.

McDavid has been eligible to sign an extension since July 1, and the fact that he didn't sign right away became one of the biggest stories of the offseason. The 28-year-old was adamant throughout that he preferred to sign with the Oilers as long as the club was committed to icing a winning roster.

His team-friendly contract should help facilitate that. The Oilers are projected to have approximately $22 million in cap space next offseason, according to PuckPedia.

McDavid will be the NHL's fifth-highest paid player on an annual basis when his new deal kicks in. Teammate Leon Draisaitl will be the highest-paid player in the NHL this season with a cap hit of $14 million. Minnesota Wild star Kirill Kaprizov recently signed the richest deal in league history and will earn $17 million per campaign starting in 2026-27.

McDavid's 11th season with the Oilers is set to begin Wednesday against the Calgary Flames.

He's established himself as the top player in the world over the course of his current contract. McDavid registered 826 points in 503 games over the past seven seasons while winning two Hart Trophies and five scoring titles. He also won the Conn Smythe Trophy as playoff MVP in 2024 despite losing the Stanley Cup Final.

The Oilers also extended defenseman Jake Walman on Monday. The blue-liner inked a seven-year, $49-million contract, according to Sportsnet's Elliotte Friedman.