Connor McDavid isn’t just the best player in hockey – he’s also one of its highest earners.
The Edmonton Oilers captain is playing on a landmark eight-year, $100 million contract that’s about to enter its final stretch. As the clock ticks toward his potential free agency in 2026, hockey fans are curious about how much Connor McDavid will make on his next deal.
The Current Contract: Connor McDavid’s $12.5M Salary Through 2026
Connor McDavid’s current contract, signed back on July 5, 2017, pays him $12.5 million annually against the cap. It kicked in for the 2018-19 season and keeps him in Oilers orange through 2025-26.
Here’s the simple truth – McDavid left money on the table when he signed. He could’ve pushed for 20% of the cap, but didn’t. That team-first mentality hasn’t changed.
“Building a team to win the Stanley Cup was a constant point of discussion,” former Oilers GM Peter Chiarelli said when the deal was signed.
Connor McDavid’s Salary: Annual Breakdown
How much does Connor McDavid make per season? His $100 million contract maintains a consistent structure throughout its eight-year term. The table below shows the complete breakdown of McDavid’s salary by year:
| Season | Base Salary | Signing Bonus | Total Cash | Cap Hit |
|---|---|---|---|---|
| 2018-19 | $3 million | $7 million | $10 million | $12.5 million |
| 2019-20 | $3 million | $7 million | $10 million | $12.5 million |
| 2020-21 | $3 million | $7 million | $10 million | $12.5 million |
| 2021-22 | $3 million | $7 million | $10 million | $12.5 million |
| 2022-23 | $3 million | $7 million | $10 million | $12.5 million |
| 2023-24 | $3 million | $7 million | $10 million | $12.5 million |
| 2024-25 | $3 million | $7 million | $10 million | $12.5 million |
| 2025-26 | $1 million | $9 million | $10 million | $12.5 million |
What’s interesting here is that while McDavid’s cap hit is $12.5 million per season, he actually receives $10 million in actual cash payments each year.
The front-loaded structure with significant signing bonuses gives McDavid financial security while offering the Oilers some flexibility. This also means in case of a lockout, more of McDavid’s money is protected through the signing bonus structure.
The front-loaded structure gives McDavid financial security while offering the Oilers some flexibility. But make no mistake – he’s getting paid like the superstar he is.
Where Connor McDavid’s Salary Ranks: Top NHL Earners
When McDavid signed his contract, that $12.5 million cap hit was the highest in NHL history. Times have changed. Let’s see how Connor McDavid’s salary stacks up against today’s highest-paid NHL players:
| Rank | Player | Team | Annual Salary (AAV) |
|---|---|---|---|
| 1 | Leon Draisaitl (2025-26) | Edmonton Oilers | $14 million |
| 2 | Auston Matthews | Toronto Maple Leafs | $13.25 million |
| 3 | Nathan MacKinnon | Colorado Avalanche | $12.6 million |
| 4 | Connor McDavid | Edmonton Oilers | $12.5 million |
| 5 | Artemi Panarin | New York Rangers | $11.642 million |
This table shows that while McDavid was once the highest-paid player in the NHL, his teammate Leon Draisaitl will soon earn more with his new contract.
Draisaitl’s eight-year, $112 million deal signed in September 2024 represents the current high-water mark at $14 million per season. McDavid now sits fourth on the list, though that’s likely to change dramatically with his next contract.
The McDavid Effect: Worth Every Penny
McDavid’s value to the Oilers can’t be overstated. He’s racked up an incredible trophy case:
- Five Art Ross Trophies (2017, 2018, 2021, 2022, 2023)
- Three Hart Memorial Trophies (2017, 2021, 2023)
- Three Ted Lindsay Awards (2018, 2021, 2023)
- Rocket Richard Trophy (2023)
- Nine-time NHL All-Star (2017-2023)
- Captain of the Oilers since 2016
His performance in the 2022 NHL Playoffs was particularly impressive, posting 1.50 points per game while leading the Oilers to the Western Conference Final. In 2023, he took them one step further – all the way to Game 7 of the Stanley Cup Final.
For the number crunchers out there – McDavid makes about $152,439 per game. That breaks down to roughly $23.78 per minute of ice time. Expensive? Sure. Worth it? Every cent.
Connor McDavid’s Next Contract: Resetting the Market
Connor McDavid becomes eligible to sign an extension on July 1, 2025. That date has been circled on calendars across Edmonton for years.
How much will Connor McDavid make on his next contract? The NHL salary cap is projected to jump significantly in coming seasons:
- $88 million in 2024-25
- $95.5 million in 2025-26
- $104 million in 2026-27
- $113.5 million in 2027-28
With this rising cap, experts project McDavid’s next contract could range from 16-17% of the salary cap, translating to approximately $16.64 million to $17.68 million annually. Theoretically, he could command up to 20% of the cap – around $20.8 million – but that seems unlikely given his team-first approach.
This surge opens the door for a massive new deal. Industry insiders are projecting McDavid’s next contract between $15-16 million annually.
Frank Seravalli from Daily Faceoff has it pegged at $16 million over eight years – a total of $128 million. That would shatter Alex Ovechkin’s record for largest total contract value ($124 million) and set a new ceiling for annual pay.
Will He Stay or Will He Go?
The vibe in Edmonton is that McDavid isn’t going anywhere. Draisaitl’s recent extension signals stability, and the team came within one win of the Stanley Cup last season.
“There’s no way that Leon is signing if there is a chance that Connor is not,” Seravalli noted recently, predicting it’s a “100% shot that Connor McDavid re-signs with the Edmonton Oilers” when eligible in 2025.
Jeff Jackson, the Oilers’ CEO and McDavid’s former agent, told TSN’s Pierre LeBrun in October 2024 that fans shouldn’t panic if a deal doesn’t materialize immediately when the window opens.
“It’s about building a winner, not just throwing money around,” Jackson explained.
McDavid himself has kept things close to the vest. When asked about his contract in September, he made it clear he’s focused on this season, not his next deal.
The Bottom Line on Connor McDavid’s Contract
Connor McDavid could technically push for up to 20% of the salary cap on his next deal – around $20.8 million annually. But his history suggests he values team success over maximizing his bank account.
For now, Oilers fans can enjoy watching the best player on the planet for $12.5 million a year – arguably the NHL’s best value contract. When his next deal comes, expect it to be massive but still team-friendly enough to keep the Cup window open in Edmonton.
That’s McDavid in a nutshell – the rare superstar who wants to cash in and win, not just one or the other. His current contract might not make him the highest-paid player anymore, but his next one will almost certainly reset the market for elite talent in the NHL.
