Mixed Reports Surround New Deal Between Oilers and Ekholm

The Edmonton Oilers got deals done with Connor McDavid and Jake Walman on Monday, meaning that Mattias Ekholm and Brett Kulak are likely next on the organization’s radar. Ekholm seems to be the most sensible option to pursue, and reports indicate that he wants to stay and is eager to sign a new deal.

However, there have been mixed reports about what the deal might look like.

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Elliotte Friedman reported this week that the Oilers and the defenseman are going to work on a deal, potentially getting it signed before the season gets too far in.

Friedman writes:

“McDavid wasn’t the only player the Oilers wished to lock down before the puck dropped. Jake Walman was another priority, so they intensified discussions with agent Wade Arnott to close a seven-year, $49M extension for a player they traded a first-rounder to get. (GM Stan Bowman believes those high picks should only be moved for someone with term or legitimately can be kept.) Next up could be Ekholm, who desires to stay. I’m getting mixed messages on whether it will be a short-term deal or something modelled on Chris Tanev to spread out the cap hit.”

A short-term deal would be something like two years, maybe three at most. The cap hit would be lower than what he’s making now ($6 million), but higher than the Oilers might like. Would a two-year, $4 million deal get it done? That would take Ekholm to the age of 37. Perhaps the Oilers might want to spread out the cap hit.

Edmonton may know that in years three and four, Ekholm won’t be a top-four guy. Heck, in year four, he might barely be playing. But, if the team can get his hit down to between $3 and $3.5 million per season, they won’t care — not when the cap hit is in the neighbourhood of $120 million.

What Is The Ideal Deal for Ekholm?

The upside of a short-term deal is that Ekholm’s contract will expire when McDavid’s does. That means if McDavid is thinking about signing again, the aging defenseman’s hit is off the books. McDavid likely won’t be taking a sweetheart deal again, so having the flexibility to give him $20-$24 million per season might be necessary. The upside of a longer-term deal is that it gives the Oilers an additional $1 million or so to spend while McDavid is in this new window he has given the team.

There are reasons to argue for both. Perhaps it will depend on how much Ekholm is willing to sacrifice to get the security of that third or fourth season. He may want to finish his career in Edmonton and not have to worry about negotiating again when he’s slowed down to the point he’s little more than a depth guy on a contending team.

Next: McDavid Speaks: What Was Really Behind His 2-Year Deal and What’s Next