Connor McDavid expected to sign monster 8-year extension with Oilers

According to reports, Connor McDavid of the Edmonton Oilers is about to sign an eight-year extension that will likely top $100 million in total value.

The NHL has not seen a $100 million deal since the 2012-13 lockout. Part of the collective bargaining agreement said contracts can only be for eight years maximum, and that’s only if a team re-signs a player. For everyone else, it’s seven years. This could be changing very quickly, as the Edmonton Oilers are going to offer Connor McDavid a huge extension as soon as they can (which is on July 1). The Hart Trophy winner is set to become a restricted free agent after next season, which is why they have to wait until July to sign him.

According to Elliotte Friedman, among others, the contract is going to be worth in excess of $100 million. This would give McDavid a reported average annual cap hit of $13.25 million. It might sound like a lot, but when you’re the face of the league, you can dictate the terms of your extension.

The scary thing? McDavid probably turned down a larger cap hit. The CBA dictates the maximum cap hit a player can have is 20 percent. That means McDavid could ask for $15 million a year. And really, could the Oiler say no to that? In exchange for taking less money per year, McDavid would get eight years of security. This is interesting because fans have already seen players plan for a lockout around the 2021-22 season.

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McDavid is worth every penny of what he’s about to get paid. Had it not been for a broken collarbone in his rookie season, he could be coming off two straight incredible seasons. However, the Oilers also have to worry about Leon Draisaitl’s extension, as he’s a restricted free agent. It will be Peter Chiarelli’s job moving forward to make sure his team will win while paying his two best players a ton of money.