The Vancouver Canucks recently chose to extend superstar forward Elias Pettersson to an eight-year contract worth $11.6 million per season, making him one of the highest-paid players in the NHL beginning next season. While his play lately has proven him worthy of this massive extension, the Edmonton Oilers have their own extensions they must start worrying about signing soon. Leon Draisaitl has a contract with the Oilers extending through the 2024-25 season and is eligible to sign an extension as of July 1st, 2024. Connor McDavid‘s contract extends through the 2025-26 season, and both players will indeed be looking for massive pay raises as their play in recent seasons has shown they are on pace to become two of the best Oilers of all time.
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Pettersson’s massive contract comes just days after rumors circulated about a potential Pettersson trade to the Carolina Hurricanes, which put pressure on both the Canucks and Pettersson to get a deal done. While the exact deal on the table between the two teams was never put out there, it can be concluded that the offer was strong enough to make the Canucks consider trading him. Luckily for Canucks fans, the stress of a potential trade of their superstar forward is something they no longer have to worry about, as he is locked up for the next eight seasons starting in the 2024-25 season.
The 2023-24 campaign has been a strong one for Pettersson, who has scored 29 goals and added 46 assists for 75 points through 62 games and is well over a point-per-game throughout his career, having scored 165 goals and adding 233 assists for 398 points through 387 games. He was drafted in the first round of the 2017 NHL Entry Draft by the Canucks and has been one of their strongest players ever since.
He stands 6-foot-2, 176 pounds, and is a left-shot forward from Sundsvall, Sweden, and sits second on the team in goals and points on the Canucks this season. Last season, Pettersson put up 102 points and established himself as one of the most elite players in the NHL, and is well deserving of this new contract. Comparing him to the Oilers’ superstar forwards, McDavid and Draisaitl, the Oilers will have to realize the pay raise they’ll have to give both of their forwards if they want them to stay in Edmonton, as both of them have been stronger at both ends of the ice than Pettersson has been. Even though they’re both older than him, they are still more valuable to the Oilers than Pettersson is to the Canucks.
Pettersson vs McDavid & Draisaitl
While McDavid and Draisaitl have consistently established themselves as the top three players in the NHL, Pettersson isn’t that far behind, but he is still not quite on their level. While Pettersson finished last season with 102 points, McDavidf finished with 153 points and led the entire league, and Draisaitl was second in the league with 128. This season, while Pettersson sits at 75 points, McDavid sits third in the league with 95 points, but Drasaitl is tied with Pettersson with 75 points as well. Drasiatl’s current contract pays him $8.5 million per season, while McDavid’s current deal pays him $12.5 million per season. It would be fair to assume Draisaitl and Pettersson get similar deals based on several factors, including Draisaitl being a little bit older, but their stat lines are similar.
Conversely, McDavid has proven himself to be levels above everyone else in the NHL. He is a future Hall of Famer who has been the main source of offensive production for the Oilers since being drafted by them first overall in the 2015 NHL Entry Draft. With the salary cap going up, it’s fair to assume McDavid will be the first player to break $15 million per season on his next contract, and it’s well deserved. Auston Matthews of the Toronto Maple Leafs recently signed a four-year extension worth $13.25 million per season, making him the highest-paid player in the NHL. Still, McDavid has remained at a higher level at both ends of the ice.
While Pettersson remains at an extremely elite level with the Canucks, and his new deal is the right price to keep him on the Canucks, McDavid may still end up getting a much larger contract. Draisaitl, on the other hand, may get something similar or only slightly higher.
What Does the Pettersson Extension Mean for the Duo?
The Pettersson extension establishes a benchmark for what the price will likely be for Draisaitl, and it would be fair to assume Draisaitl looks to leverage that contract if he hopes to get a nice pay raise. While I would expect both McDavid and Draisaitl to be willing to accept pay cuts to stay in Edmonton, they still deserve to get a raise on their next contract. I would predict Draisaitl will get a massive eight-year extension worth between $11.5-11.75 million per season, while McDavid is likely looking at an eight-year extension worth $14.5-16 million per season.
The Oilers are back in action on Sunday (March 3) in a matchup against the Pittsburgh Penguins, where they will be looking to build off the momentum after a 2-1 win over the Seattle Kraken in their previous matchup. While both McDavid and Draisaitl could take pay cuts to stay with the Oilers and help the team save some money to grab some other assets and help them win a Stanley Cup, there is no guarantee they choose to do that. Hopefully, the Oilers can get the pair re-signed for the remainder of their careers because they will be huge parts of the Oilers’ future successes.
