The Edmonton Oilers signed Leon Draisaitl today to an eight-year, $112-million contract extension with an average annual value of $14 million.
Draisaitl, 28, is entering the final season of his current eight-year contract with an AAV of $8.5 million, considered one of the best bargain deals in the league given his accomplishments over that period.
Edmonton Oilers forward Leon Draisaitl (NHL Images).
Since Draisaitl’s superstar breakout season in 2018-19, he sits second to teammate Connor McDavid in total points (643), second to Toronto Maple Leafs center Auston Matthews in goals (272) and is tied with New York Rangers winger Artemi Panarin with 371 total assists.
Drasaitl won the Hart Memorial Trophy, the Art Ross Trophy, and the Ted Lindsay Award in 2019-20. He and McDavid give the Oilers a lethal one-two scoring punch, turning them into Stanley Cup contenders entering 2024-25.
Draisaitl’s new contract will make him the NHL highest-paid player when it goes into effect on July 1, 2025, eclipsing Matthews’ $13.25 million.
SPECTOR’S NOTE: Everyone knew Draisaitl would seek top dollar on his next deal and everyone knew the Oilers would pay to keep him in Edmonton.
Some observers expected Draisaitl would seek more, perhaps between $15 million and $16 million annually. The $14 million AAV is approximately where most experts believed it would be.
Draisaitl has earned that hefty salary, though his new deal will grow more burdensome for the Oilers over the final four years when he’ll be in his mid-to-late 30s when a player’s skills inevitably deteriorate. The Oilers’ front office believes it’s worth it to re-sign their second-best player, especially when they’re in “win-now” mode and he’s still in his playing prime.
This signing should also be an encouraging sign for McDavid. He’s eligible for UFA status in July 2026. Seeing the Oilers open the vault for Draisaitl sends the message that they’re willing to invest in their top players. It’s also a sign that they’re serious about pursuing the Stanley Cup.
It should dispel any concerns from Oilers fans that McDavid will depart in 2026. Keeping Draisaitl in the fold will encourage their captain to stay in Edmonton.