Oilers forward Leon Draisaitl signs contract extension with highest cap hit in NHL history

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Cooper Godin
September 3, 2024 (7:49)

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Edmonton Oilers forward Leon Draisaitl has signed a contract extension that comes with the highest cap hit in National Hockey League history.

Leon Draisaitl's contract status has been on the minds of everyone around the NHL and among the media in Edmonton. Draisaitl is entering the final year of his contract in 2024-25 and became eligible to sign an extension with the Oilers on July 1st.

While nothing has been done over the last two months, talks have been ongoing and now, the team has officially announced Leon Draisaitl's new contract extension.

In a social media post on Tuesday, the Edmonton Oilers announced that they've agreed to terms on an eight-year contract extension worth $112 million ($14 million AAV) with Leon Draisaitl. The contract will begin ahead of the 2025-26 season.

"This is an historic day for the Edmonton Oilers," said Executive Vice President of Hockey Operations & General Manager Stan Bowman. "Leon's commitment to our team, our city and Oilers fans everywhere cannot be overstated. His desire to help bring a Stanley Cup title home to Edmonton is central to everything he does both on and off the ice."

With Draisaitl's new contract coming in at $14 million per season, it'll give him the highest cap hit in National Hockey League history starting in 2025-26, $750,000 more than Toronto Maple Leafs captain Auston Matthews.

It's safe to say that Leon Draisaitl is well worth $14 million per season. With the cap hit going up on a yearly basis and Draisaitl's game only getting better, this has the chance to be a very good deal for the Edmonton Oilers down the road.

We'll have to wait and see how this situation unfolds but with Connor McDavid eligible for an extension next summer, Draisaitl's reported salary could drive up the price to sign the Oilers captain and it could come in at well over $15 million per year.