Connor McDavid “No Rush” To Talk Contract Extension

Many people will likely dissect and overreact to his comments. McDavid is entering the final year of his eight-year, $100 million contract, which carries a salary cap hit of $12.5 million per year. If he does not sign or give management any indication he will extend with the Oilers, he will be a free agent on July 1, 2026.

Until he puts pen to paper, people are going to wonder if he wants to be a member of the Edmonton Oilers. All indications are that he does not want to leave Edmonton. But winning is the top priority for Connor McDavid.

“Winning would be at the top of the list. And then, winning would be the… it’s the most important thing. If I feel that there’s a good window to win here over and over again, then signing is no problem,” McDavid continued on Thursday. 

And the Oilers have been so close to winning. And maybe the pieces around Connor McDavid need to change, as the depth scoring let him down in the Stanley Cup Final. General Manager Stan Bowman has identified other areas of need, such as upgrading the goaltending and forward groups, but his biggest priority will be signing McDavid to a contract extension.

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That was his priority last year when he took over for Ken Holland, who is now the General Manager of the Los Angeles Kings, when it came to Leon Draisaitl. That deal got done in September. But Bowman and management are eager to get the table, as he told the media on Friday.

“Well, Connor’s the best player in the league, the most important player in the league. He’s our captain. He’s our leader. So certainly, he’s the number one priority,” Bowman said. And I think also listening to Connor’s take on things like he’s earned the right for us to be respectful of his timing. Certainly we’re eager to meet with him whenever he wants, but also understanding that he’s going through a very tough ending season, so timing-wise, that’s kind of going to drive that process, but there’s no question, he’s a pivotal player on our team.”

As Dave Pagnotta of the Fourth Period is reporting, the two sides have discussed the basis of what a new contract will look like. It also helps that McDavid’s former agent and current Oilers CEO of Hockey Operations, Jeff Jackson, assisted in negotiating the last deal. So he knows what he is getting into with the NHL’s best player.

Multiple options are on the table, including an eight-year deal and a mid-range deal in the four to six-year range. But the expectation is McDavid will set the market again as the highest-paid player in the league.

He could get 20 percent of the cap, which would be $18-$19 million. But with winning being a priority, he will take less in the $15-$18 million range. And if he did the Auston Matthews route of a short-term deal, he could be looking to maximize his value with the salary cap going up. However, there is a belief within the group, and when the time is right, as McDavid told the media, his agent and Bowman will come together to work out the details.

“This core has been together for a long time and we’ve been building to this moment all along,” McDavid said. “The work that’s gone on behind the scenes, the conversations, the disappointments and some good times along the way as well.

We’re all in this together, trying to get it over that finish line. With that being said, ultimately, I still need to do what’s best for me and my family and that’s who I have to take care of first, but of course there is unfinished business here.”

However, Connor McDavid told Oilers fans to be patient. This is similar to what Leon Draisaitl said last year. He discussed taking the time to determine what he wants, what the Oilers want, and what everyone wants, and the parties will proceed from there.

Why would Leon Draisaitl have signed an eight-year extension if Connor McDavid wasn’t coming back? Those two are as tight as brothers, and whether it’s a short-term or long-term deal, Connor McDavid will stay in Edmonton. So, of course, he wants him back on the team. Everyone in the organization wants him to sign an extension.

But again, this is on Connor McDavid’s timeline. Whether it is mid-July, late-July, or sometime in August or September, all indications are that McDavid will be back with the Edmonton Oilers. It is just a matter of how long.

One thing is sure: McDavid will not let this linger past training camp and allow it to become a distraction.