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May 23, 2025; Dallas, Texas, USA; Edmonton Oilers center Connor McDavid (97) skates with the puck against the Dallas Stars in the first period for game two of the Western Conference Final of the 2025 Stanley Cup Playoffs at American Airlines Center. Mandatory Credit: Jerome Miron-Imagn Images

Connor McDavid Is One of the Biggest Reasons Oilers Are Worth $2.65B

Originally posted on The Hockey Writers | By Dale Bochon | Last updated Sep 7, 2025 11:15 AM ET

Connor McDavid might be at his absolute physical peak as a hockey player; that’s why I can understand why he wants to take his time to think about what he’d like to sign for in his next contract. In my mind, he’s been worth a billion dollars or more to the Edmonton Oilers franchise since he was drafted back in 2015. It’s too bad he won’t be paid what he’s really worth.

It’s not like he’s going to start up a tree planting company, similar to what Kawhi Leonard and Los Angeles Clippers owner Steve Ballmer hatched back in the 2019-20 NBA season. Also, I don’t see an ownership deal like the one Mario Lemieux had when he became one of the owners of the Pittsburgh Penguins. It’s too bad the NHL doesn’t hand out salaries like the NFL, MLB, and the NBA, where certain players are pulling in close to $100M a season (CAD). Unfortunately, the NHL just isn’t there in terms of league revenue and popularity, especially in the all-important American market. If McDavid signs for $16M or $17M per season with the Oilers and becomes the highest-paid player in the NHL, it still won’t match what his real value has been to the Oilers.

Oilers Have Increased in Value Exponentially Since McDavid Signed in 2015

When Oilers owner Daryl Katz purchased the team from the Oilers Investors Group in 2008, he paid $200M. That seems like an incredible bargain today, as the Oilers are now valued at $2.65B and are ranked as the sixth most valuable franchise in the NHL according to Forbes.com. The Katz Group has benefited from the NHL signing lucrative national broadcast deals with Sportsnet in Canada, TSN in regional markets, as well as US cable networks such as ESPN, TBS, and TNT; and internet streaming services ESPN+, Hulu, and Max. The Katz Group also negotiated a framework deal with the City of Edmonton in 2013, which resulted in the creation of Rogers Place Arena and the ICE District.

As financially positive as these deals have been, the Oilers franchise really benefited from the arrival of McDavid when they won the NHL Draft Lottery on April 18, 2015. In McDavid’s first season with the Oilers, the franchise was valued at $455M. Fast-forward to the 2024-25 NHL season, and seeing the $2.65B value, you can’t help but believe the popularity of McDavid has helped the Oilers grow in value. According to shop.NHL.com, McDavid’s jersey is currently the fourth leading seller, and McDavid’s hockey cards are so popular with fans, you can purchase a 2015 McDavid Upper Deck The Cup #197 Rookie Patch card for $119,000.00 USD.

I confess, I don’t fully know how jersey, hockey card, and memorabilia sales are negotiated between players and their teams. But I do know that with the increased popularity of McDavid and the Oilers in the past few seasons, sales of Oilers hoodies, jerseys, and Oilers merchandise have increased due in large part to the popularity of McDavid. Understanding that hockey is big business, it’s not hard to see how valuable McDavid has been to the Oilers on and off the ice. That’s why I can understand why he is taking his time and weighing his options in terms of his next contract.

A Lot Riding on McDavid and the Oilers to Get a New Deal Done

McDavid’s next contract has been a huge focal point in Oil Country and around the NHL in the summer of 2025. There are so many factors that McDavid is currently weighing, including where the Oilers are headed, and where is the best possible place for him to play to win a coveted Stanley Cup Championship. I believe his next deal will be in the range of two to three years and in the $16M to $17M range.

As time goes on without a contract, so does the anxiety for Oilers fans. What if McDavid chooses to wait until close to the March 2026 NHL Trade Deadline before making a decision? It may seem far-fetched, but it could be possible. If the Oilers peaked over the past two seasons in losing in the Stanley Cup Final, losing McDavid could be a reality Oilers fans have to face. Considering his value to the Oilers and even the City of Edmonton, it would be a shame, like Wayne Gretzky before him, to lose one of the greatest players in NHL history.

I can’t imagine the pressure both McDavid and the Oilers are feeling right now to get a deal done. But after what’s transpired this offseason, I, like some Oilers fans, am preparing for the reality of a future without McDavid. Oilers fans have survived worse, especially with the loss of Gretzky and then Mark Messier when he was traded to the New York Rangers.

Losing McDavid without winning a Stanley Cup would be one of the worst feelings in the world. Oilers fans, let’s hope McDavid signs a deal with Edmonton, and they go on to win the Stanley Cup in the next season or two. Otherwise, he may choose to go somewhere else, and what a profound loss that would be for everyone associated with the Oilers.