Connor McDavid Set to Become NHL’s Highest-Paid Player with Record-Breaking Oilers Contract Extension
Connor McDavid, widely recognized as the most dominant player in the National Hockey League today, is on the verge of making history not only with his performance on the ice but also with his next contract. As the 2025-26 NHL season approaches, insiders around the league report that McDavid is expected to sign a record-breaking contract extension with the Edmonton Oilers that will make him the highest-paid player in NHL history. This extension isn’t just a milestone for McDavid—it’s a watershed moment for the league, signaling a new financial era shaped by soaring salary caps, elite performance, and growing league revenues.
McDavid’s current contract, an eight-year deal worth $100 million signed in 2017, already positioned him as one of the NHL’s top earners with an average annual value of $12.5 million. At the time, it was the richest deal in the sport. However, the economics of the game have changed dramatically since then. With league revenues bouncing back and the salary cap projected to rise significantly over the next few seasons, there’s strong momentum to lock McDavid into a deal that reflects both his past contributions and future value. Projections for his next contract suggest a possible salary range between $16 million to $18 million per season, depending on the term, with the total value of the extension possibly exceeding $130 million. If this happens, McDavid will not only break the record for the highest average annual salary but also potentially sign the most lucrative deal in league history.
What makes McDavid’s next deal so significant is that it coincides with a transformative period for the NHL’s financial structure. The salary cap, which has remained relatively stagnant over the past several years due to the pandemic and revenue-related setbacks, is set to explode in the next few seasons. Forecasts suggest it could hit $95 million by the 2025-26 season and may exceed $110 million within a few years. For a player like McDavid, whose performance metrics surpass any player in the league and rival the greats of previous generations, his value within that cap structure is immense. Under league rules, no player can earn more than 20 percent of the total team salary cap, and McDavid’s next deal may push close to that ceiling.
McDavid’s on-ice value is indisputable. A five-time Art Ross Trophy winner, three-time Hart Trophy recipient, and perennial points leader, he has carried the Oilers through multiple deep playoff runs while consistently finishing among the league’s leaders in goals, assists, and overall impact. He is more than just a star player; he is the centerpiece of a franchise, the face of Canadian hockey, and arguably the most marketable player in the sport. With elite speed, vision, and hockey IQ, McDavid elevates every teammate around him and draws matchups that shift entire game plans. His importance to the Edmonton Oilers is difficult to overstate. Without him, the team’s offense would lose its core identity. With him, they are a perennial Stanley Cup contender. In fact, the Oilers’ back-to-back runs to the Stanley Cup Final have only increased the urgency to secure McDavid’s future with the team, both for the stability of the roster and the direction of the franchise.
General Manager Stan Bowman, brought in to stabilize the Oilers and build around their superstar core, has made it clear that keeping McDavid in Edmonton is the organization’s top priority. Bowman, known for crafting championship teams in Chicago, has indicated the Oilers will do “whatever it takes” to extend McDavid, regardless of the cost. The message is simple: you don’t let a generational talent walk away in his prime, especially when he is deeply rooted in the team’s culture and central to its competitive success. The team’s recent extension of Leon Draisaitl—a deal reportedly worth $112 million over eight years—is also seen as a strategic move to ensure McDavid remains surrounded by high-caliber talent. Draisaitl and McDavid form the most potent one-two punch in hockey, and securing both long-term signals the Oilers’ commitment to a sustained championship window.
Still, contract negotiations of this magnitude come with complications. Although McDavid became eligible to sign an extension as of July 1, 2025, he has not yet officially agreed to terms. That delay has fueled speculation about whether he might explore alternative options or consider a shorter-term deal that allows him to retain flexibility. Some analysts have drawn comparisons to Auston Matthews’ strategy in Toronto, where the superstar center opted for shorter extensions to keep negotiating leverage while maximizing value as the cap rises. Should McDavid follow a similar path, it could mean signing a three- or four-year deal with an ultra-high salary—something in the $20 million range annually—that allows him to reassess his career trajectory before age 32. Such a deal would likely break all current financial records in the NHL and potentially create ripple effects across other star contracts.
On the other hand, a longer-term deal would solidify his legacy in Edmonton and give the franchise the stability needed to build around him. A long-term contract extension could also offer some cap relief with a slightly lower average annual salary compared to a short-term max deal, which would allow the Oilers to maintain a more balanced roster. Both sides are undoubtedly considering these trade-offs as negotiations continue behind closed doors. It’s not just a question of money—it’s about structure, strategy, and how to position both player and team for long-term success. From an SEO standpoint, this is where keywords like “Connor McDavid contract extension,” “NHL’s highest paid player 2025,” and “Edmonton Oilers franchise deal” align with trending search queries as fans and analysts scour the internet for the latest developments.
In Edmonton, fans are understandably anxious. McDavid is not just a hockey player—he’s a symbol of hope, resilience, and the possibility of returning the Cup to a passionate hockey market that hasn’t seen a championship since the days of Wayne Gretzky. His decision could alter the trajectory of the franchise for the next decade. If he signs, the Oilers remain a top contender. If he doesn’t, the ripple effects could be devastating. It’s no exaggeration to say that every executive, every teammate, and every fan in Oil Country is watching this negotiation with bated breath.
Despite the uncertainty, optimism still reigns. McDavid has repeatedly expressed a deep connection to the city of Edmonton and the team that drafted him first overall in 2015. He’s praised the organization, lauded his teammates, and shown visible passion in playoff series that have pushed the team to the brink. Insiders believe that loyalty, combined with the Oilers’ willingness to pay top dollar, will ultimately result in an agreement. The question is not if he’ll be the highest-paid player in NHL history—it’s when and how he’ll get there.
The NHL landscape is changing fast. New media deals, international expansion, and a growing global audience have added new streams of revenue, all of which contribute to an increased salary cap and elevated player salaries. As the face of the league, Connor McDavid is perfectly positioned to benefit from this shift. His upcoming contract will serve as the blueprint for future superstar deals. It will influence how teams negotiate with elite talent, how agents structure contracts, and how franchises plan for long-term success under the cap.
As the 2025-26 season inches closer and the hockey world holds its breath, one thing is certain: Connor McDavid is about to make history. Whether he signs for four years, eight years, or a record-breaking figure never before seen in NHL circles, his next contract will redefine what it means to be a superstar in modern hockey. For fans, analysts, and executives alike, this moment isn’t just about numbers on paper. It’s about legacy, leadership, and the evolution of the sport itself. And for the Edmonton Oilers, it’s about making sure that their most valuable player remains the foundation of their future.
