The Edmonton Oilers are on the verge of their 2025-26 season, seeking to finally break through after consecutive Stanley Cup Final losses to the Panthers.
However, the team got some massive news on Monday, with star center Connor McDavid reportedly agreeing to an extension that keeps him in Edmonton for the long-term future.
McDavid, 28, was set to become a free agent after the 2025-26 season. Instead, the seven-time All-Star has committed to the Oilers beyond the upcoming campaign.
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Here's what to know about McDavid's new deal to stay in Edmonton.
Connor McDavid contract extension details
- Years: 2
- Total Amount: $25 million
McDavid's extension will be worth two years with $12.5 million in AAV. The Oilers made those numbers official not long after the extension rumors began:
THE CAPTAIN 🫡
— Edmonton Oilers (@EdmontonOilers) October 6, 2025
The #Oilers have signed forward Connor McDavid to a two-year contract extension with an AAV of $12.5 million! pic.twitter.com/UYpGe4NKkx
After a report from Friedman indicated that a McDavid extension was on the way Monday, the star confirmed it with an Instagram post that read "Our journey here continues."
Prior to the Oilers' official announcement, Mark Spector had reported that McDavid's deal was expected to be shorter-term and fall in the $15 AAV range, while Chris Johnston reported that the "short term deal" would carry an AAV below $15 million.
Edmonton then announced it as a two-year contract worth $12.5 million annually. McDavid was previously on an eight-year, $100 million deal with the Oilers he had signed in 2018. Per Spotrac, he's carried a cap hit of $12.5 million each season since then, and he was initially set to become a free agent after the 2025-26 season. Now, McDavid will carry that $12.5 million annual cap hit for at least two more seasons.
Edmonton is set to open its 2025-26 season on Wednesday night against the Calgary Flames.
Highest-paid NHL players in 2025
McDavid's new deal will not impact his 2025-26 salary, as he was already under contract this upcoming season. Additionally, his $12.5 million AAV on the extension is the same he already carried on his previous contract.
Here's a look at the NHL's 11 highest-paid players by cap hit in 2025, per Spotrac.
| Player | Team | Cap Hit |
| Leon Draisaitl | Oilers | $14 million |
| Auston Matthews | Maple Leafs | $13.25 million |
| Nathan MacKinnon | Avalanche | $12.6 million |
| Connor McDavid | Oilers | $12.5 million |
| Mitchell Marner | Golden Knights | $12 million |
| Mikko Rantanen | Stars | $12 million |
| Artemi Panarin | Rangers | $11.642 million |
| Elias Pettersson | Canucks | $11.6 million |
| Erik Karlsson | Penguins | $11.5 million |
| William Nylander | Maple Leafs | $11.5 million |
| Igor Shesterkin | Rangers | $11.5 million |
Largest NHL contracts of all time
The largest overall NHL contract ever dished out recently, as the Minnesota Wild gave Kirill Kaprizov an eight-year, $136 million deal that set new benchmarks in total value and AAV ($17 million). Previously, Alex Ovechkin's 13-year, $124 million deal with the Washington Capitals signed in 2008 was the largest deal in league history.
Here's a look at the 10 largest NHL contracts ever by total contract value.
| Player | Team | Year Signed | Total Value |
| Kirill Kaprizov | Wild | 2025 | $136 million |
| Alex Ovechkin | Capitals | 2008 | $124 million |
| Leon Draisaitl | Oilers | 2024 | $112 million |
| Shea Weber | Predators | 2012 | $110 million |
| Sidney Crosby | Penguins | 2013 | $104.4 million |
| Nathan MacKinnon | Avalanche | 2023 | $100.8 million |
| Ilya Kovalchuk | Devils | 2010 | $100 million |
| Connor McDavid | Oilers | 2018 | $100 million |
| Ryan Suter | Wild | 2012 | $98 million |
| Zach Parise | Wild | 2012 | $98 million |