When the best skater in the world takes the equivalent of a backup NBA center’s salary, eyebrows are bound to be raised. That’s exactly what happened when Connor McDavid inked a two-year contract extension with the Edmonton Oilers that pays out a mere $12.5 million a year.
For context, NBA center Steven Adams signed a three-year, $39 million contract with the Houston Rockets this summer that averages $13 million a year.
In giving the Oilers a heavy, heavy discount, it’s clear that McDavid left a massive payday on the table. He provided a crystal-clear explanation of his rationale behind that deal on the eve of the new season.
Connor McDavid Explains Why He Took A Bargain-Basement Deal
Ahead of the season opener against the Calgary Flames, McDavid spoke to reporters after a shock two-year extension.
When asked about the reasoning behind signing a deal that pays him a mere $12.5 million a year, McDavid said, “The number made a lot of sense. It gives us a chance to extend our window in Edmonton. Lenny (McDavid’s dog) won’t go hungry with that money. I think it is a deal that works well for both sides.”
While fans of other franchises took the two-year deal as a sign that McDavid was serving the Oilers a win-or-else ultimatum, he cleared the air on the length of his deal.
“There are a lot of factors that go into that. Everyone in the organization understands the situation where we are at, and from top to bottom, we want to win. If it lends urgency, that is a good byproduct, I guess,” McDavid clarified.
How Much Money Did Connor McDavid Leave On The Table?
McDavid could have signed for as much as $19.1 million, which accounts for 20% of the salary cap. Instead, the Oilers captain left about $6.5 million on the table on a yearly basis.
The Oilers moved quickly to fill that hole, signing fan favorite defenseman Jake Walman to a seven-year, $49 million extension.
Walman, of course, was aware of McDavid’s sacrifice. “All I could say was wow. What an effin’ captain,” Walman told reporters.
Toronto Maple Leafs captain Auston Matthews had a more measured reaction upon learning of McDavid’s surprising new deal. “For him, it’s all about winning and setting himself up for the best opportunity to do that,” Matthews told reporters. “In my time around him, that’s the main thing he wants to do. It’s what everybody wants to do is to win, and he’s as committed as anybody.”
For his part, Oilers General Manager Stan Bowman took very little credit in negotiating the deal. In fact, Bowman said there really wasn’t much negotiation after all.
“Obviously, I didn’t expect that,” Bowman said. “In hindsight, I probably shouldn’t have been surprised because Connor has always been about the team and putting the team in the best position. He’s not worried about himself or his contract. It’s never been about anything but winning and leading.”
When all was said and done, even Canada’s Prime Minister Mark Carney breathed a sigh of relief after finding out about McDavid’s sacrifice.
Expectations, as always, are sky-high in Edmonton. Most analysts expect the Oilers to race to the top in the regular season, but McDavid, Draisaitl, and the rest of the team will be keenly aware that the regular season is not even half the battle.
If the third time’s the charm, this is the year for the Oilers to prove the old adage right.