Connor McDavid signs 8-year extension with Oilers
The Edmonton Oilers set to make Connor McDavid the highest paid player in the league with an eight-year extension.
After years of struggling to find the face of their franchise, the Edmonton Oilers are making sure they won’t have that issue in the near future. On Wednesday afternoon, the Oilers held a press conference to announce they’ve signed Connor McDavid to an eight-year extension, worth $100 million. That works out to an average annual value of $12.5 million.
The #Oilers have signed Connor McDavid to an eight-year contract extension. pic.twitter.com/s2FSNLb0O7
— Edmonton Oilers (@EdmontonOilers) July 5, 2017
The extension has been in the works since the end of the season, with both sides eager to get the deal done. The average salary was rumored to be around $13 million, but McDavid opted to take slightly less.
The first overall pick in 2015 won the Hart Trophy as league MVP last season and led the Oilers to their first playoff birth since 2006. In 82 games, McDavid scored 30 goals and dished 70 assists. His 100 points led the league in scoring. At 19 years and 266 days, he was named the youngest captain in league history at prior to the season.
The Oilers lost in the second round of the playoffs to the Anaheim Ducks, but the future is bright in Edmonton with McDavid in the lineup.
In the press conference, McDavid expressed his excitement to remain in Edmonton. “I’m in it for the long haul. I want to win here,” he said.
The extension won’t kick in until 2018-19 as McDavid has to play out the final year of his rookie contract. He’ll be a bargain for the Oilers next year, making just $925K. He has a chance to earn up to $3.7 million in bonuses.
When the extension kicks in, McDavid will become the highest paid player in the league by a cool $2 million over Chicago Blackhawks captain Jonathan Toews.