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While the deal doesn't keep No. 97 in Edmonton colours long-term, it puts to rest the team's biggest source of anxiety heading into the season after two straight years as Stanley Cup runner-up to the Florida Panthers. 

McDavid was set to become an unrestricted free agent July 1, and getting him back under contract was the top priority. 

"We're just excited to get ourselves to where we are today," Stan Bowman, the team's general manager and executive vice-president of hockey operations, said on a video conference call with reporters. 

"This is a very exciting day for our organization and for the fans."

McDavid confirmed the news on the social media platform X before the Oilers made it official, posting "Our journey here continues," with a photo of him standing alongside teammates at Edmonton's Rogers Place. 

While this pre-season has seen some hefty contracts doled out, including a record-setting eight-year, $136-million extension for Minnesota Wild winger Kirill Kaprizov, McDavid deferred the chance to cash in. 

The extension's average annual value of $12.5 million is identical to the three-time Hart Trophy winner as NHL MVP's current eight-year pact, which sets the tone for the organization, along with current and future teammates. 

The move to take far less money than market value mirrors what Pittsburgh Penguins captain Sidney Crosby — one of McDavid's idols — has repeatedly done in hopes of bolstering his team's roster. 

And Bowman said the dollar amount was the Newmarket, Ont., product's choice and not part of contract talks.

"The players were shocked as well," Bowman said of McDavid's teammates he spoke to Monday. "Like, 'Holy cow, what a leader this guy is.' I think everyone probably had the same reaction. But getting to know Connor how I have over the last year, he is a one-of-a-kind guy. He's such a tremendous leader, and so motivated to try to win. 

"That's a testament to who he is as a person."

Bowman repeatedly said the contract doesn't change the organization's priorities, but it's also clear Edmonton is short on time to get over its Cup hump and keep McDavid beyond the 2027-28 season.

"It's not like we're planning out five years from now to be a team that might be able to win the Cup," said Bowman, a three-time winner with the Chicago Blackhawks. "Our focus last year was to win, our focus this year is to win."

He added this negotiation was unlike any other he's ever been part of.

"(McDavid) likes to know what's coming and what the thoughts are and how I see the team and how we can get better," he said. "He's a very smart guy, in addition to being an amazing player. 

"He's got a lot of good ideas … it's fun to talk hockey with him." 

The Oilers made another significant move Monday, signing defenceman Jake Walman to a seven-year contract extension with an AAV of $7 million. 

Viewed as the best player in the game, McDavid is coming off his fifth straight 100-point season despite being limited to just 67 contests because of injury. 

The top pick at the 2015 draft has 361 goals and 721 assists for 1,082 points across 712 regular-season games. McDavid registered career-highs in goals (64) and points (153) in 2022-23 before hitting 100 assists the following season. 

Fellow star centre Leon Draisaitl signed an eight-year, $112-million extension with Edmonton in September 2024 — an agreement that carries a $14 million AAV and ties him to the franchise through 2032-33. 

McDavid is a five-time Art Ross Trophy winner as the NHL's leading scorer, took home the Maurice (Rocket) Richard Trophy in 2022-23 after topping the league in goals, and became just the sixth player on a Cup-losing team to win the Conn Smythe Trophy as playoff MVP in 2024. 

The 28-year-old has 150 points (44 goals, 106 assists) in 96 post-season contests and is a four-time winner of the Ted Lindsay Award as league MVP voted on by fellow members of the NHL Players' Association. 

McDavid, who helped Canada win the 4 Nations Face-Off tournament in February and is set to headline the NHL's Olympic return in Italy next year, breathed life into the bumbling Oilers when he arrived in town. 

A generational talent with breathtaking speed, skill and vision, McDavid helped Edmonton snap a 10-season playoff drought in 2017. 

Two springs without post-season competition then preceded a pair of pandemic-impacted campaigns that ended with little success. 

The Oilers finally broke through in 2022 by making the Western Conference final for the first time since 2006 — McDavid registered an outrageous 33 points in 16 games — but were swept by the Colorado Avalanche, who went on to hoist the Cup. 

Edmonton lost out to the Vegas Golden Knights, another eventual title-winning club, in the second round in 2023 before beating the Dallas Stars in back-to-back conference finals. 

Like the rest of the league, however, the Oilers had no answer for the relentless Panthers at the final hurdle in consecutive years.

They will try again in 2025-26, now with the knowledge their captain is sticking around at least a little while longer.

"Making a push to try to win is the most important thing right now," Bowman said. "That's a commitment that we've all made to Connor."

This report by ¹ú²úÓÕ»ó¸£Àû was first published Oct. 6, 2025.