This in from Bob Stauffer of the Edmonton Oilers, news that Leon Draisaitl is looking for an eight-year deal on a new contract with the Edmonton Oilers.
“I spoke to Mike Liut, who is with Octagon. Mike Liut and Andy Scott will be the guys heading up negotiations for Octagon. It’s going to be a seven or eight-year deal. It’s probably going to be an eight-year deal realistically. The reality is that for the Edmonton Oilers organization, for the success of the Edmonton Oilers, the two biggest things they need to do in the next two years is get extensions done with Leon Draisaitl and Connor McDavid. And that’s not lost on Stan Bowman (Edmonton’s new GM), who did resign both Patrick Kane and Jonathan Toews to eight year deals at $10.5 million.”
Stauffer continued: “It is my belief that we are probably looking at an eight-year deal for Leon. And if I was representing Leon I would want an eight-year deal for a 29-year-old player.”
My take
1. Huzzah!
2. Stauffer has been saying with increasing certainty for a few weeks now that Draisaitl will likely sign a new contract with the Oilers, but this is the most certain he’s been, coming right out and saying he talked to Luit and giving a specific term on a new contract.
3. Term is important for the Oilers, with the longer the better as far as I’m concerned. Draisaitl is likely to be a highly effective player into his mid-to-late 30s. But the real key is the percentage of the cap hit that Draisaitl will take.
4. If you look at the third contracts of similar NHL star forwards, you see the average term is eight years, with the players taking on average about 15 per cent of the cap. If Drai were to do that he would earn about $13.2 million per season.
If he takes lower than that amount, essentially accepting a Stanley Cup discount to play in Edmonton and compete for the Cup here, that will be a major coup for the team.
5. NHL insider Frank Seravalli said on Oilers Now that any NHL GM would love Draisatl on whatever number he comes in on. Servalli said he always thought the deal would be an eight-year term. At first he thought around $14 million, but he’s not sure it will come in that high.