DONE DEAL: Edmonton Oilers $112 million deal done in blockbuster trade just now

The Edmonton Oilers have inked Leon Draisaitl to an eight-year, $112 million contract extension, making the German standout the highest-paid player in NHL history with a $14 million salary cap hit. The extension kicks off in the 2025-26 season and runs through 2033, as revealed by general manager Stan Bowman on Tuesday.

“Leon’s dedication to our team, our city, and Oilers fans everywhere cannot be emphasized enough. His commitment to bringing a Stanley Cup to Edmonton drives everything he does, both on and off the ice.”

Last season, Draisaitl and Connor McDavid led the Oilers to Game 7 of the Stanley Cup Final. Draisaitl, who was named the NHL’s MVP in 2020, was set to become an unrestricted free agent next summer.

Securing Draisaitl was the Oilers’ top priority this offseason. Stan Bowman, hired as GM in late July, took on the task just weeks after being reinstated by the NHL following his suspension due to his involvement in the Chicago Blackhawks’ 2010 sexual assault scandal.

Draisaitl’s new deal surpasses Auston Matthews’ $13.25 million cap hit, nearly doubling his previous salary. The 28-year-old has been earning $8.5 million annually under a contract signed in 2017, which has been one of the best bargains in the league.

The Cologne native has delivered exceptional value, recording 850 points in 719 regular-season games and ranking among the top playoff performers with 108 points in 74 games. His 1.46 points per game in the postseason ranks fourth all-time for players with 40 or more games, trailing only Wayne Gretzky, Mario Lemieux, and McDavid.

With Draisaitl’s extension in place, the Oilers will now shift their focus to re-signing McDavid, their captain and reigning playoff MVP. McDavid is eligible for a contract extension on July 1 and could become a free agent in the summer of 2026.