The Edmonton Oilers have a rare opportunity to secure a top-four defenseman at below-market value — but they’ll need to act quickly. As astutely pointed out by Tyler Yaremnuck of Oilers Nation, the team could target Jake Walman for an early contract extension that would benefit both sides before he hits unrestricted free agency.
Walman Is Eligible for a Contract Extension Now
Walman, who turns 30 next season, is coming off a strong campaign and is entering the final year of his $3.4 million deal. While his play is elevating his market value, a strong 2025-26 season could up his cost even further. His career earnings sit at roughly $12 million — a figure that could make long-term financial security more appealing than gambling on free agency.
That’s why the Oilers should consider signing him now.
Under current CBA rules, teams can offer a contract extension of up to eight years if the player is already on their roster. In contrast, outside suitors in free agency will be limited to six-year offers starting in 2026 (it is assumed that all of the changes go into effect July 1, 2026). Meaning, if Walman waits until the end of this coming season to sign his extension (banking that a big year will up his AAV), he could get hammered by the new CBA rules.
“New contracts are now limited to a maximum of 6 years for a free agent signing and 7 years for signing a player who was on the roster at the last trade deadline. This is a reduction from the previous 7 years for a free agent signing and 8 years for re-signing with the current team.”
There are also new rules regarding signing bonuses, which limit the amount a player can be given in signing bonuses compared to their yearly salary.
Why Does this Help the Oilers?
Not everyone will agree that Walman is worth a long-term contract extension. However, if the Oilers see him as someone they want around, for Edmonton, that two-year advantage could be key in landing Walman at a relative bargain. A proposed eight-year, $48 million deal — averaging $6 million per season — might be enough to get it done.
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While Walman could command $7.5 to $8 million annually on the open market (if he has a big year), a longer deal with Edmonton could result in similar or better total earnings, with added job security through his age-38 season. And given the Oilers’ status as a Stanley Cup contender led by Connor McDavid and Leon Draisaitl, the appeal of chasing a championship while earning top-pair money is difficult to ignore.
The Oilers, meanwhile, would lock in a proven defenseman at a cost that could look like a steal within a couple of seasons.
Walman brings speed, mobility, and reliable two-way play to the blue line. If he continues to perform at or near a top-four level, $6 million annually would be more than fair for a defenseman of his quality as the salary cap skyrockets.
Every penny in Edmonton counts, and saving a million or more on the salary cap each season could be instrumental in making room for bigger contracts that are coming down the pipe. Walman won’t break the bank and the cost certainty for Edmonton is a critical part of them building out their team.
From Walman’s perspective, he could roll the dice and play out the 2025–26 season in hopes of landing a massive payday in free agency. But one down year or injury could derail those hopes.
Locking in Walman now might be a win/win for both sides.
