Oilers Score Big Wins With McDavid, Walman, and Ekholm Deals

Edmonton has turned a busy week into a few days of critical off-ice wins for the organization, locking in Connor McDavid, Jake Walman, and Mattias Ekholm to extensions just ahead of the team’s regular-season opening game against the Calgary Flames. All three deals are arguably huge wins for the franchise and their Stanley Cup aspirations over the next three seasons.

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The headline-grabber was Connor McDavid’s extension. He signed a two-year, $12.5 million-per-season deal that the hockey world is still stunned by. The contract is remarkable not for its length but for its remarkably low annual average salary. McDavid chose not to take a raise in a rising salary cap landscape, and essentially told the Oilers, ‘You have three years to win, and here’s my giving you every tool you’ll need and removing every excuse you can make.’ The Oilers said thank you and then immediately began working on building the pieces around McDavid to maximize their chances of winning over the next few years.

McDavid gave the Oilers maximum flexibility to surround him with the talent needed to win now. The first two players the Oilers re-signed were key pieces on their critically acclaimed blue line.

Oilers Quickly Sign Two More Important Pieces

With the McDavid discount in the bag, the Oilers went to work, spending some of the savings their captain provided.

Jake Walman is another clear win. Acquired at last season’s trade deadline, Walman earned a seven-year, $49 million deal ($7 million AAV). His strong puck-moving ability, mobility, willingness to get gritty, and not ignore the defensive side of the game were important parts of last season’s playoff run.

He quickly became a cornerstone of the second defensive pairing, and that’s where he’ll play, if no higher, over the next several seasons. Staying healthy will be key for Walman.

Finally, Mattias Ekholm officially signed a three-year, $4 million per season extension on Wednesday. He badly wanted to stay, and the Oilers were keen to keep him. However, the money had to go down from his current $6 million salary, even though he’s still a top-pairing defenseman. Ekholm has been a key contributor since arriving in 2023, with 92 points and a +83 rating in 165 games. The short-term deal provides Edmonton with flexibility while retaining an experienced, two-way defender on the roster during this championship window.

Taken together, these three contracts are more than signings — they’re strategic wins that keep important parts of this Oilers roster together for several seasons. McDavid’s deal might be the shortest of the two, but it’s arguably the biggest discount in the history of the NHL. Walman real long-term upside and his contract could look like a bargain in a couple of seasons. Ekholm’s value on this deal will drop over the next two years, but it’s a fair price for what he brings now and will bring as the salary cap shoots through the roof.

The Oilers are not just keeping their stars, they’re building smartly around them to maximize the chance of winning a Stanley Cup.

Next: Jets, Connor Close In On Historic Extension Ahead of Season Opener