The Edmonton Oilers have secured one of their key stars for the long term, as general manager Ken Holland officially announced the signing of 28-year-old forward Leon Draisaitl to an eight-year extension worth $112 million. This deal not only solidifies Draisaitl’s future with the team but also sets a new standard in the NHL with the highest salary cap hit in league history at $14 million per year, surpassing Auston Matthews’ $13.25 million mark.
The contract will kick in starting with the 2025-26 season and will extend through the 2033 season. Holland expressed excitement over the extension, emphasizing Draisaitl’s integral role in the Oilers’ pursuit of a Stanley Cup title.
“This is a monumental day for the Edmonton Oilers,” Holland said. “Leon’s loyalty and dedication to this team, the city, and Oilers fans is unparalleled. His leadership, both on and off the ice, will be crucial as we continue our quest to bring the Stanley Cup back to Edmonton.”
Draisaitl, the 2020 NHL MVP, has been instrumental in the Oilers’ success alongside Connor McDavid, helping the team reach Game 7 of the Stanley Cup Final last season. Heading into what would have been his final year before unrestricted free agency, securing Draisaitl was the top priority for Edmonton this offseason.
The German-born forward’s new deal nearly doubles his current $8.5 million annual salary, which he has earned since 2017 under one of the league’s most team-friendly contracts. Draisaitl has proven his worth, amassing 850 points in 719 regular-season games and earning a reputation as one of the most prolific playoff performers in NHL history with 108 points in just 74 postseason games. His 1.46 points-per-game average in the playoffs ranks fourth all-time, trailing only Hall of Famers Wayne Gretzky, Mario Lemieux, and his teammate McDavid.
With Draisaitl now locked in, the Oilers can shift their focus to re-signing McDavid, the franchise captain and reigning playoff MVP, who is eligible for a contract extension on July 1, 2026.
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