McDavid Signs $100 Million Extension

The Edmonton Oilers signed Connor McDavid to an 8-year, $100 million extension on Wednesday. The deal begins with the 2018-19 season. While it is a hefty amount McDavid is probably the one player in the world worth it. He is now the highest-paid player in the National Hockey League. Although he’s just in his second season he won the Hart Trophy, Art Ross and Ted Lindsay Award. The eight-year is the maximum length allowed by the current CBA.

Most of the money will be paid in signing bonus each July 1. Of the $100 million, $86 million will be paid in that manner. That protects McDavid in the event of a lockout or players strike, something the NHL has faced in recent years. While McDavid led the league in scoring, not everybody is ready to anoint him the best player. Just not yet. That likely goes to Pittsburgh’s Sidney Crosby. But you can make a good case for McDavid. Especially if you want towards the future, where McDavid should hold a definite advantage.

While the Oilers are thrilled with the signing it also means they have work to do on others. Leon Draistl is due a pretty helfty raise. While he’s not in the same league, he’s still about an $8 million player. That eats up a lot of a team’s salry cap. But the Oilers will be in good shape for a couple of years. The defense is signed to low-cost contracts for the next few seasons. But those players will also be due a raise in the near future. So the Oilers may look to make a move or two to lower their cap in the future. That probably means Ryan Nugent-Hopkins is on the block or will be soon. But when you have a chance to get a McDavid signed long-term you have to take advantage.