The Edmonton Oilers had one of the most interesting 2023-24 campaigns. They started the season 2-9-1 and chose to relieve Jay Woodcroft and Dave Manson of their duties, replacing them with Kris Knoblauch and Paul Coffey. Eventually, they turned it around and were able to make a deep playoff run that brought them one game away from winning the Stanley Cup. On top of all that, one of their superstar forwards is soon to be in need of a new contract, and he is already eligible to sign an extension as of July 1. Leon Draisaitl has slowly become a superstar with the Oilers, and it’s clear that re-signing him will be a top priority for new general manager (GM) Stan Bowman. According to a reputable pundit, Draisaitl will be re-signed, and he wants a seven or eight-year extension rather than a short-term deal.
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It’s fair to assume that Draisaitl’s next contract will make him the highest-paid player in the NHL. His offensive ability over the past several seasons has proven to be key in helping the Oilers get to where they are, and he will continue to be one of their main reasons for success in the 2024-25 season. With the additions that the Oilers have made this offseason, combined with the pending Draisaitl extension, as well as the acquisitions of prospects Matt Savoie and Roby Jarventie, it’s safe to say this has been a successful summer so far for the Oilers, but it’s not over quite yet.
What Does Draisaitl’s Extension Price Look Like?
Draisaitl becoming the highest-paid player in the league, at least until the Connor McDavid extension happens, seems like it will happen. The highest-paid player right now is Toronto Maple Leafs’ forward Auston Matthews whose average annual value (AAV) comes in at $13.25 million. Some fans will argue that Matthews is a better all-around player than Draisaitl, but Matthews’ lack of playoff success makes it easy to see that Draisaitl is a more valuable player right now. While there have been rumours flying about what Draisaitl is looking for on his next contract, I would have to predict he is going to be in the $13.5-13.75 million range per season on a long-term deal.
The major difference between Matthews and Draisaitl is that Matthews accepted a short-term, four-year contract with the Maple Leafs. All signs point to Draisaitl only wanting to sign a long-term deal and commit to Edmonton for the rest of his career. At 28 years old, most players wouldn’t get an eight-year deal since some teams worry about a major decline. Draisaitl on the other hand has earned whatever length he wants, so if he wants to finish his career in an Oilers jersey, they should allow him to do so.
There is a chance he takes a team-friendly deal and that number drops between $12.25-12.75 million, but I think he knows his worth and will be getting a minimum of $13 million per season. At the end of the day, the Oilers have to be willing to pay Draisaitl what he wants rather than risk losing him for nothing next offseason. He is one of the best players in the NHL and his services would be wanted by almost, if not every team in the NHL. They need to try and get this extension done sooner rather than later, so it doesn’t hinder the rest of the team as the season goes along.
The Oilers’ season gets underway on Oct. 9, 2024, in a matchup against the Winnipeg Jets. While most fans will be anxious to get a Draisaitl extension done before the season gets going, it’s still an exciting time for the Oilers and their fans as they look to get redemption and win their first Stanley Cup since 1990. They have the pieces to do it and they have the support from the fans, it’s a matter of executing on the ice and bringing it home.
