Oilers to ramp up negotiations with Evan Bouchard, Connor McDavid

The Edmonton Oilers have been thrust toward a stressful offseason after their Game 6 defeat. They face multiple contract situations in need of sorting-out with just under $12M in projected cap space. Top of list will be re-signing star defender Evan Bouchard before he becomes a restricted free agent. Edmonton will turn their attention towards negotiations on what is expected to be an eight-figure deal later this week, per David Pagnotta of The Fourth Period. Pagnotta adds that next on the list will be signing captain Connor McDavid to an extension when he becomes eligible on July 1.

Both contracts will break ground when they’re signed. Bouchard has hit impressive heights for only being 25 years old. His 238 points in 347 career games ranks sixth in the league among defenders his age or under. Rasmus Dahlin, who ranks second with 360 points, is the only player above Bouchard to have signed recently. He inked an eight-year, $88M deal with the Buffalo Sabres last summer. Bouchard’s cap hit would likely land under Dahlin’s $11M, though the cap’s projected growth could keep the two close.

That will make projecting a new price for superstar McDavid all the tougher. He already carries the fourth-highest cap hit in the league — $12.5M on a deal signed in 2017. No one else came close to making as much until Nathan MacKinnon signed for $12.6M in 2023, Auston Matthews’ signed for $13.25M last summer, and Oilers teammate Leon Draisaitl signed for $14M shortly after.

McDavid’s prowess is hard to deny. He’s reached legendary scoring heights in both the regular season and playoffs. There seems to be no one number that’d sound right to award the 826 points he’s (so far) scored in 503 games of his current contract. Draisaitl’s record-holding cap-hit will be Edmonton’s only guide. He did top McDavid in scoring by six points this season but even then — the younger McDavid is likely to warrant a slight pay boost. His new deal could land in the realm of $14.5M or even $15M.

The importance of getting both deals done can’t go understated. McDavid and Bouchard were Edmonton’s most used forward and defender respectively, and have ranked in the top-three of team scoring in each of the last two seasons. Edmonton will be locking up their top defenseman ahead of his prime, and the core of their franchise through his golden years, with these deals. They’ll also be defining their future budget — namely what they’ll be willing to spend on their 13 pending free agents in 2026, including goaltender Stuart Skinner.

McDavid and Bouchard will land as the league’s most expensive top-forward, top-defender tandem in the NHL before July 1 with this news. The two — and their phenomenal supporting cast — have already pushed Edmonton to back-to-back appearances in the Stanley Cup Finals. With long-term deals, the Oilers could be guaranteeing the structure needed to make at least a few more runs for the title, especially as they find value deals for goaltending or depth improvements.