Oilers reach eight-year deal with phenom
The Edmonton Oilers paid a huge price to lock up superstar captain Connor McDavid, but it could have been even higher.
The Oilers announced Wednesday that the team and McDavid have agreed to an eight-year extension with an average annual value of US$12.5 million. That makes the 20-yearold league MVP the highest paid player in the NHL on an annual basis, but it’s about $750,000 a year less than what reports last week figured he would be getting.
“It easily could have been a lot higher in value and shorter in term,” Oilers general manager Peter Chiarelli said.
McDavid’s extension kicks in after he finishes the final year of his entry-level deal next season. If the NHL’s salary cap stays at its current level of $75 million, McDavid’s salary alone would take up 16.6 per cent of the Oilers’ allowed salary.
But any cap relief would be welcome to Edmonton. The Oilers are also working to re-sign rising star Leon Draisaitl.