Hockey fans, as this summer comes to an end, the free agency talk for next summer begins. Connor McDavid is about to become the most expensive player in NHL history, and nobody knows where he’s going to play next season. The Edmonton Oilers superstar enters the final year of his eight-year, $100 million deal, a contract that’s been paying him $12.5 million annually since 2017.
Here’s what makes this situation has Edmonton fans nervous: McDavid just led the Oilers to back-to-back Stanley Cup Final appearances, yet his signature isn’t on any extension. The three-time NHL MVP keeps talking about “unfinished business” in Edmonton after those crushing playoff defeats. Meanwhile, the Oilers’ front office is juggling twelve players who need new contracts.
The numbers being thrown around for McDavid’s next deal? $15.5 million to $19 million annually. That would shatter every NHL salary record in existence. The Oilers are currently operating with pocket change in cap space, but they’re projected to have nearly $45 million available next summer. Talk about perfect timing.
If McDavid and Edmonton can’t figure this out, he becomes a free agent in 2026. Every general manager in the league is already circling that date on their calendar. When you’re talking about a player with 1,082 points in 712 regular-season games and 150 points in 96 playoff appearances, you don’t let him hit the open market without a fight. The question isn’t whether McDavid deserves to be the highest-paid player ever – it’s whether Edmonton can convince him to stay.
His comments after the 2025 Stanley Cup Final
Some words can shift an entire conversation. McDavid stated in his post-final press conference, “ultimately, I still need to do what’s best for me and my family.” The frustration was written all over his face after another crushing defeat to Florida. You could hear the disappointment in his voice. At this point all he could do is reflect on his current situation. Winning the Stanley Cup is the major thing he hasn’t accomplished in his NHL career. He knows it and it is the only priority at this point. It’s really that simple.
The Oilers’ Position & Cap Flexibility
Stan Bowman, the Oilers general manager isn’t pushing it seems, only showing he understands the delicate situation. So at this point: this happens when McDavid wants it to happen. Edmonton is not exactly in a position to force the action. Right now, hockey’s biggest star is thinking. And we’re all waiting to see what conclusion he reaches as everything else unfolds. Edmonton’s financial situation tells two completely different stories. Right now, the Oilers are operating with just $225,833 in cap space for the 2025-26 season. That’s pocket change in today’s NHL – barely enough to call up a player from the AHL.
Everything changes in the Summer of 2026. Edmonton is projected to have approximately $45 million in available cap space for the 2026-27 season. The salary cap jumps from $95.5 million this year to $104 million in 2026-27, which gives Stan Bowman even more room to work with. The timing couldn’t be more perfect. Seven players become unrestricted free agents on July 1st, 2026, creating the financial breathing room Edmonton desperately needs:
- Corey Perry
- Jeff Skinner
- Connor Brown
- John Klingberg
Evan Bouchard remains the immediate focus as a pending restricted free agent. His deal could potentially reach $10 million annually, which would eat into that projected cap space significantly. Forward Trent Frederic has caught Bowman’s attention too with the idea of keeping both of them.
Possible Short Deal Strategy
Forget the eight-year maximum – McDavid wants flexibility, and that would be in terms of a 3-4 year deal. A shorter deal keeps his options open heading into his early 30s. The salary cap keeps climbing toward a projected $120 million by 2029. McDavid could be looking at an even bigger payday down the road if he plays this smart.
Judd Moldaver, McDavid’s agent, is not inexperienced when it comes to shorter contracts for superstars. He negotiated five-year and four-year deals for Auston Matthews instead of maximum-term contracts. Moldaver’s track record suggests McDavid will get exactly what he’s looking for.
The 2026 Free Agent class has the potential to be STACKED 👀
— B/R Open Ice (@BR_OpenIce) July 2, 2025
- Connor McDavid
- Jack Eichel
- Kirill Kaprizov
- Kyle Connor
- Artemi Panarin
- Martin Necas
- Jason Robertson
- Alex Ovechkin
- Adrian Kempe
- Alex Tuch
How many make it to July 1st? 🤔 pic.twitter.com/DYpbdRaaNO
Connor McDavid addressed his future with the Oilers, saying he’s in no rush to sign an extension 👀
— Gino Hard (@GinoHard_) June 19, 2025
The pending 2026 UFA says he’ll take time to reflect on the season and talk things over with his agent and family before making any decisions. pic.twitter.com/2Y7lFz00ug
Who Could Sign McDavid in 2026 Free Agency
The moment McDavid hits free agency, every general manager with cap space is making their pitch. Some teams make perfect sense. Others are just wishful thinking.
Toronto Maple Leafs: The Hometown Dream
McDavid grew up in the Toronto area, and that hometown connection never goes away. The Leafs project to have approximately $24 million in cap space by 2026, which is more than enough to make this work. Picture McDavid and Auston Matthews as your one-two center punch. The marketing opportunities alone would be insane. The question isn’t whether Toronto wants him – it’s whether McDavid wants to deal with that media circus every single day.
New York Rangers: Broadway’s Biggest Stage
Manhattan offers McDavid something no other market can – the bright lights of Broadway. The Rangers project roughly $30 million in cap space with Artemi Panarin’s contract expiring. They’ve got Mike Sullivan behind the bench, a coach who’s won two Cups. Igor Shesterkin gives them elite goaltending. The NHL would absolutely love to have their biggest star in their biggest market.
LA Kings: The Ken Holland Connection
This one’s interesting because Ken Holland, McDavid’s former GM in Edmonton, now runs the Kings’ front office. That relationship could matter more than people think. Los Angeles has the market size and a competitive roster. The Kings keep popping up in McDavid conversations for a reason. Adding him would instantly make them a Cup favorite.
Chicago Blackhawks: Building Around Bedard
The Blackhawks’ timeline is perfect – they’re rebuilding just as McDavid becomes available. Imagine McDavid centering. Connor Bedard on the power play. Chicago has prospects coming and all the cap flexibility in the world. Their entire core is under 23 years old. The Blackhawks name still carries weight, and Chicago is a hockey market that appreciates greatness.
About ten teams think they have a shot. The Boston Bruins always seem to be mentioned. Vegas might chase McDavid instead of re-signing Jack Eichel. Tampa Bay rounds out the serious contenders. But here’s the reality – McDavid isn’t going somewhere just for money. He’s going where he thinks he can win multiple Cups. That narrows the field considerably.
The Bottom Line
We’re going to watch one of the most important contract negotiation in hockey history unfold in real time. McDavid’s choice doesn’t just affect Edmonton or even the NHL – it could reshape how superstar players think about their careers moving forward. This whole situation comes down to one thing: Can Edmonton prove they’re serious about winning championships? The Oilers have the projected cap space and the core players, but McDavid has seen this movie before. Two Stanley Cup Finals, two heartbreaking defeats. At some point, even the most loyal player starts wondering if the grass might actually be greener somewhere else.
The smart money says McDavid signs a shorter deal in Edmonton. His agent Judd Moldaver has built his reputation on these flexible contracts, and McDavid has always been about maximizing his options. A three or four-year extension keeps everyone happy while the salary cap continues climbing toward that projected $120 million by 2029. But here’s what other GM’s have to prepare for: What if McDavid actually hits free agency? Picture Connor McDavid in any other jersey, and suddenly they are a contender. The NHL would never be the same.
McDavid has earned the right to be picky. After carrying the weight of Edmonton’s championship hopes for nearly a decade, he deserves to chase that Stanley Cup wherever he thinks he has the best shot. Whether that’s staying loyal to the Oilers or shocking the hockey world by leaving, his decision will echo through the league for years. The countdown to 2026 has officially started. McDavid holds the cards, and every hockey fan will want to win the possible McDavid sweepstakes as it unfolds.
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