The Edmonton Oilers finalized an extension with Leon Draisaitl, one of the NHL’s top players, on Tuesday. The team announced an eight-year, $112 million contract with the 2020 NHL MVP, making him the most expensive player in the league.
The 28-year-old German has one year remaining on his current contract at an $8.5 million AAV and was scheduled to hit unrestricted free agency next summer until signing this extension. His $14 million cap hit moving forward is $750k more than the next highest player, the Toronto Maple Leafs’ Auston Matthews ($13.25M).
🔒 LEON'S LOCKED IN 🔒
The #Oilers have signed forward Leon Draisaitl to an eight-year contract extension beginning in 2025-26 with an average annual value of $14 million. pic.twitter.com/wERUyneHA7
— Edmonton Oilers (@EdmontonOilers) September 3, 2024
Draisaitl has proven to be an incredibly productive running mate for Connor McDavid with the Oilers, recording his third straight 100-point season last year. The 2022-23 campaign was Draisaitl’s career-best as he posted 128 points (52g, 76a) in 80 games.
Draisaitl’s new deal sees him receive a $5.5 million raise per season and make $1.5 million more than McDavid during the 2025-26 season. McDavid is set for free agency in the summer of 2026 unless Edmonton can also ink him to a new contract.
Top 10 highest 2025-26 cap hits
| Player | Team | 2025-26 Cap hit |
|---|---|---|
| Leon Draisaitl, F | EDM | $14M |
| Auston Matthews, F | TOR | $13.25M |
| Nathan MacKinnon, F | COL | $12.6M |
| Connor McDavid, F | EDM | $12.5M |
| Artemi Panarin, F | NYR | $11.6M |
| Elias Pettersson, F | VAN | $11.6M |
| Erik Karlsson, D | PIT | $11.5M |
| William Nylander, F | TOR | $11.5M |
| David Pastrnak, F | BOS | $11.25M |
| Rasmus Dahlin, D | BUF | $11M |
Edmonton now has Draisaitl locked up through the 2032-33 season and he will become an unrestricted free agent after that campaign at age 36. Draisaitl joins defenseman Darnell Nurse and forward Ryan Nugent-Hopkins as the Oilers players signed through at least the 2028-29 season.
Draisaitl is headed into his 11th season with Edmonton after being selected by the club with the third overall draft pick in the 2014 NHL Draft. The Cologne native played junior hockey in the WHL with the Prince Albert Raiders and Kelowna Rockets.
Leon Draisaitl's 8 year $14M Cap Hit extension does not include any deferred compensation; it is a standard deal with all compensation paid during the 8 year term.https://t.co/FOr3qAk2u8
— PuckPedia (@PuckPedia) September 3, 2024
Edmonton made it to their first Stanley Cup Final in the McDavid and Draisaitl era last season, eventually falling to the Florida Panthers in seven games. Draisaitl was third on the team in postseason scoring with 31 points (10g, 21a), trailing only McDavid (42) — the eventual Conn Smythe winner as playoff MVP — and Evan Bouchard (32).
The Oilers hired Stan Bowman to be their general manager this offseason after mutually deciding to part ways with Ken Holland. Bowman was reinstated into the NHL in July after previously being unavailable for employment due to his mishandling of the 2009–10 Chicago Blackhawks’ sexual abuse scandal.
