TORONTO – Connor McDavid left a bag of money on the table this week.
The superstar centre signed a two-year, US$25-million contract extension with the Edmonton Oilers through 2027-28 after weighing his options all summer and through most of training camp.
There’s no doubt McDavid could have pressed and squeezed the organization — the $12.5-million salary cap hit isn’t a penny more than the current deal he signed eight years ago and runs through this season.
NHL commissioner Gary Bettman said that, while the figure is “a lot of money by any standard,” the decision says a lot about the player’s desire to finally hoist the Stanley Cup.
“It’s a testament to Connor’s passion for the game and his commitment to Edmonton,” Bettman said Wednesday at Scotiabank Arena before the Toronto Maple Leafs hosted the Montreal Canadiens in the regular-season opener for both teams. “And if I were an Oilers fan, I’d be excited. And if I were his teammate, I’d be thrilled to know that the team is going to have some more flexibility.”
McDavid, a three-time Hart Trophy winner as NHL MVP, and the Oilers have made the final the last two springs before falling to the Florida Panthers at the last hurdle.
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McDavid’s decision to take far less than market value — the best player in the game could have commanded a salary over $20 million annually — gives Oilers management more wiggle room to add to a roster with a championship window that remains open for the time being.
For context, the Minnesota Wild recently signed winger Kirill Kaprizov to a record-setting $136-million extension.
McDavid, meanwhile, has decided to defer his chance to cash in.
“I think that in the final analysis, that speaks so well as to a superstar viewing his role in the game and his personal values,” Bettman said. “He should be commended.”
CAP CHAT
The salary cap is set at $95.5 million this season before being slated to jump to $104 million in 2026-27 and $113.5 million in 2027-28.
Bettman, who indicated he hasn’t heard from any owners concerned about being able to compete under those parameters, explained the jump as the league continues to emerge from the financial chaos of the COVID-19 pandemic.
“The cap going forward, and historically, goes up in direct relation to how revenues increase,” he said. “We are catching up over a three-year period for the three years of the flat cap coming out of COVID. We didn’t want it to happen all at once, because that would have skewed salaries and been, if you will, fortuitous and maybe unfair for the players who happened to be free agents when that happened.
“We’re staging how we catch back up with what the cap would otherwise have been if we didn’t have the flat cap.”
FUTURE PLANS
Bettman, as it seems to happen at almost all of his media availabilities, was asked how long he plans to stay in the commissioner’s chair — a role he’s occupied since December 1992.
“I get very energized and excited by what I do,” he said. “I love what I do. I consider it an honour. The game is in a good place, and so I’m not really focused on when I should stop doing it, but I do know at some point that age will catch up with everyone, and I understand that that’s something that I need to focus on at some point.”
CANADA CUP
Bettman was asked if he would like to finally see a Canadian team hoist the Cup, ending a drought that dates back to Montreal’s victory over the Los Angeles Kings in 1993.
“I love all my children equally, all my grandchildren equally,” he said with a smirk. “I love all my teams equally.
“You know what? The beauty of our competitive balance is anything can happen.”
This report by The Canadian Press was first published Oct. 8, 2025.
© 2025 The Canadian Press
