Leon Draisaitl’s massive eight-year, $112 million extension with the Edmonton Oilers is getting another round of attention, this time through a financial lens.
The Athletic’s Dom Luszczyszyn recently broke down the deal and suggested that, despite being the richest in NHL history by average annual value ($14 million), it might end up looking like a bargain. His model estimates a projected surplus value of $35 million over the contract’s life, with a 95% chance it returns positive value overall.
Leon Draisaitl’s $112M Deal May Be the Oilers’ Smartest Move Yet
So why is a deal of this size seen as potentially undervalued?
According to Luszczyszyn, two factors stand out. First, Draisaitl’s evolution into a stronger two-way player. Second, the league’s rising salary cap, which is reshaping how these megadeals age over time.
“While it was always assumed that the cap had a lot of room to catch up with hockey-related revenues, it was difficult to expect the seismic leaps that were confirmed over the next three seasons,” Luszczyszyn wrote.
“That put Draisaitl’s $14 million in a new context, one where the expected Net Rating from the deal starts at his level in Year 1, but drops substantially to first-line level by the end of it.”
Draisaitl’s 2024–25 campaign showed just how far he’s come. While his offensive skills have never been in doubt, last season marked a noticeable uptick in his defensive play. He even entered early Selke Trophy conversations, something rarely associated with his name in prior years.
His improved all-around game came without a dip in production. Draisaitl tallied 106 points in 71 regular-season games and added another 33 points in the playoffs. Since 2018–19, he’s second only to Connor McDavid in total scoring. Over his career, he’s now up to 956 points in 790 games.
Oilers Leon Draisaitl scores his first career OT goal & becomes the 6th player in NHL history with 20 OT goals (Regular season & playoffs) pic.twitter.com/2EzFOrE3AL
— Sportsnet Stats (@SNstats) April 28, 2025
“The Oilers once again get Draisaitl on an eight-year deal for a lot less than he’s worth,” Luszczyszyn concluded.
Oilers Still Active on the Market
While Draisaitl’s extension provides some certainty, Edmonton’s front office is far from finished. NHL insider David Pagnotta reported that the Oilers are still exploring the market for an additional top-six forward before camp opens.
David Pagnotta: The Oilers…they are looking for another top six guy – Hello Hockey (7/19)
— NHL Rumour Report (@NHLRumourReport) July 22, 2025
The Oilers are watching every dollar. With recent departures like Corey Perry and Evander Kane, the team has created some breathing room under the cap. That flexibility could be used soon.
For now, though, Draisaitl’s contract is doing more than just locking down a superstar. It may be giving the Oilers a long-term edge.
