The Edmonton Oilers have discussed a Leon Draisaitl contract extension all summer long. On Tuesday, though, Draisaitl finally signed the contract. Edmonton and Draisaitl agreed to an eight-year contract with an average annual value of $14 million. In total, the German superstar will receive $112 million through the life of the deal.
Draisaitl is one of the best players in the world. In fact, there is an argument to be made that he is one of the greatest Oilers of all time. Now, he remains in Edmonton through the 2031-32 campaign. But how does this contract look for both the Oilers and Draisaitl? Let’s hand out grades for this monster contract extension.
Leon Draisaitl signs with Oilers
Leon Draisaitl is, without a doubt, one of the best players in the NHL. In 2019-20, he won the Hart Trophy as the league MVP. He has received Hart Trophy votes in four of the last five seasons. And dating back to 2018-19, the Cologne, Germany native has recorded 100+ points in each 82-game season the league has played.
Had the Oilers superstar decided to hit NHL Free Agency, every team would have called his agent. There’s a chance he could have made more than the $14 million AAV he receives on this contract. Especially if the salary cap jumped up by a decent amount. In any event, it’s hard to blame Draisaitl for taking this contract.
The Oilers star is going to be the highest-paid player in the NHL when this contract kicks in next summer. Additionally, he has a full no-movement clause through the eight-year duration of this deal. If the relationship between Draisaitl and Edmonton erodes, he has complete control over the next steps of his career.
Draisaitl received a contract most players only dream of in this league. His reign as the highest-paid player in the league will likely be short-lived, as Connor McDavid is due an extension soon. Still, he received a major payday and remained with the team that came within two goals of winning the Stanley Cup. It’s a fantastic deal for the former Hart Trophy winner.
Oilers sign Leon Draisaitl
Edmonton Oilers center Leon Draisaitl (29) during the warmup period against the Florida Panthers in game six of the 2024 Stanley Cup Final at Rogers Place. Sergei Belski-Imagn Images
The Oilers front office had a monumental task ahead of them following the Stanley Cup Final. They had to convince Leon Draisaitl that their loss to the Florida Panthers was not the closing of the championship window. Evidently, they have successfully convinced the Cologne native that Edmonton represents his best chance to win.
There is pressure for Edmonton to win while Draisaitl and McDavid are on the team. They cannot come up empty with this caliber of superstar on the roster. Signing Draisaitl certainly alleviates some of the pressure, as he is around long-term. But the pressure is re-applied given the financial investment in the German superstar.
Giving $14 million to any player is certainly a risk. However, for a player of Draisaitl’s caliber, it’s a risk worth taking. If he continues to be a 100+ point scorer, the financial contribution is more than worth it. And as the salary cap goes up, this contract could age rather well as other star players begin earning their paydays.
To some extent, the Oilers had to do this deal. They needed to keep him around in order to extend their competitive window. They absolutely paid a king’s ransom to do so. But it’s a financial commitment that could age well for them. And if they win the Stanley Cup, Edmonton certainly won’t mind writing these checks.
Grades and final thoughts
Both Leon Draisaitl and the Oilers receive high NHL contract grades. Draisaitl earns a well-deserved raise over the $8.5 million he will make in 2024-25. And he remains with the team that nearly won him a Stanley Cup this spring. Edmonton, meanwhile, keeps one of its franchise pillars around for the long-haul. They may have paid a hefty sum to do so, but for a player like Draisaitl, they can stomach this sort of deal.
