General manager Stan Bowman and the Edmonton Oilers were busy ahead of their season-opener against the Calgary Flames on Oct. 8, locking up some key pieces to contract extensions. The most important was inking captain Connor McDavid to a two-year extension with a team-friendly $12.5 million cap hit, the same average annual value (AAV) as his current contract.
Shortly after, the Oilers announced that Jake Walman signed a seven-year extension with a $7 million cap hit. Finally, just hours before the home-opener, Mattias Ekholm signed a three-year extension with a $4 million cap hit.
EK YEAH! đź’Ş
— Edmonton Oilers (@EdmontonOilers) October 8, 2025
The #Oilers have signed defenceman Mattias Ekholm to a three-year contract extension with an AAV of $4 million. pic.twitter.com/pl0NzodiFB
The 6-foot-5, 225-pounder has been a perfect fit on the Oilers’ blue line, with 24 goals and 92 points in 166 games, while providing a calming presence on the back end. With this new contract, Bowman solidified the D core with Walman, Ekholm, Evan Bouchard, and Darnell Nurse locked in until at least the end of the 2028-29 season. The only defencemen set to become unrestricted free agents (UFA) at season’s end are Brett Kulak and Troy Stecher. Kulak may also sign an extension during the season.
Related: Edmonton Oilers Extend Mattias Ekholm to 3-Year Contract
The Oilers acquired Ekholm ahead of the 2023 Trade Deadline, and he has been a staple on the top pairing alongside Bouchard. He’s in the final season of a four-year, $6.25 AAV deal, and he took a pay cut to stay in Edmonton. This move came as a surprise to some, considering his age and recent injury history.
It was thought that a wait-and-see approach would have been smarter, to see if he could remain healthy and consistent. However, at this cap hit, it’s tough to argue with this decision. If he can continue logging top-pairing minutes, this deal is a steal. Even if he regresses with age, he’s still a solid defenceman and a veteran presence in the locker room, thus making it a win-win. This was an underrated signing and a tidy piece of business from the Oilers’ front office.
Rising NHL Salary Cap
As the salary cap continues to rise, so will player contracts. The cap is at $95.5 million, and is projected to rise to $104 million in 2026-27, potentially reaching $113.5 million in 2027-28. That’s a significant increase over the next two seasons, and teams are locking up important players now as a result.
Even if Ekholm regresses, the cap will be so high by year two that his salary will be minuscule in comparison. Most third-pairing defencemen will be making $4 million by then, and if that’s what he ends up being, this is still a solid deal. This move has a significant upside. If he has a great season, his price tag will increase, so extending him now was worth the gamble.
Worse Defencemen Got Paid More in Free Agency
Some defencemen who are coming off worse seasons got massive paydays on the open market this summer. Former Oilers general manager and new Los Angeles Kings general manager Ken Holland signed Brian Dumoulin and Cody Ceci to significant overpayments – Ceci signed a four-year deal with a $4.5 million cap hit, and Dumoulin signed a three-year deal with a $4 million cap hit. Kings’ Joel Edmundson is also in year two of a four-year contract with a $3.8 million cap hit. Considering what those players are making, Ekholm’s deal is excellent.
The defencemen mentioned above aren’t bad, but they aren’t at Ekholm’s level, either. The Swedish blueliner is a top-pairing blueliner when healthy, while they are mostly third-pairing defencemen. Even though Ekholm should regress during this new deal, he would’ve been paid more on the open market, while also leaving a void on the Oilers’ blue line, which would need to be filled. This move was a no-brainer with a $4 million price tag.
The Oilers are back in action on Saturday night (Oct. 11) when they host the Vancouver Canucks. Keep following The Hockey Writers for all your NHL context throughout the season.
