Mapping out how the Oilers can spend their Connor McDavid savings
Connor McDavid cares more about winning than any NHL player since…Sidney Crosby, evidently. It seems No. 97 has taken the generational superstar torch from No. 87 in more ways than one. Crosby famously has accepted less money than he’s been worth on multiple contracts, cruising along at his trademark $8.7 million cap hit even as the salary cap has increased, and McDavid did the same via his extension earlier this week, maintaining his current cap hit of $12.5 million. Even when McDavid signed his previous eight-year extension in 2017, his impact on the game was already so outsized that $12.5 million made him underpaid then. By the end of his new two-year extension, when the cap is a projected $113.5 million, the $12.5 million AAV will be the equivalent of McDavid making $8,755,507 in 2018-19, when his previous deal commenced.
McDavid clearly wants to give his team as much financial flexibility as possible. Per PuckPedia, Oilers project for $18.71 million in cap space in summer 2026, far more than they should’ve had to play with had McDavid signed for his actual market value of, say, $20 million a year.
“I think it’s a testament to Connor’s passion for the game and his commitment to Edmonton,” NHL commissioner Gary Bettman told The Canadian Press’ Josh Clipperton during a season-opening presser in Toronto Wednesday. “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’s going to have some more flexibility in terms of creating a team that’s been even more successful if it’s possible.”
An additional stick tap is owed to defenseman Mattias Ekholm, who signed two days after McDavid for three more years at a below-market AAV of $4 million. What, then, will GM Stan Bowman do with this unexpected cap flexibility gifted to Edmonton by his captain and top-pair defenseman? Let’s dive in to how the Oilers might allocate their cash – somewhat for this cap-crunched season but particularly for the two seasons spanning McDavid’s extension, 2026-27 and 2027-28.
Trade for a marquee forward
If Stan Bowman prefers the trade route, he can explore plenty of different top-six forwards with term left on their deals. One that comes to mind is the Nashville Predators’ Filip Forsberg, who has four seasons remaining on his deal from 2026-27 onward, carrying an $8.5-million cap hit. He does have a no-movement clause and would be moving away from a no-tax market, but perhaps the trade would be worth it if Forsberg simply wants to chase a championship. The Oilers could also look at a proven winner in 2022-23 Conn Smythe Trophy recipient Jonathan Marchessault, who earns $5.5 million annually from the Preds through 2028-29. The Pittsburgh Penguins could offer a nice shopping opportunity with Bryan Rust and Rickard Rakell earning $5.125 million and $5 million, respectively, through 2027-28, when McDavid’s deal expires. The San Jose Sharks’ Tyler Toffoli’s current deal ends in 2027-28 and carries a $6-million AAV. How about the Seattle Kraken’s Jared McCann? He’s owed $5 million through 2026-27.
These winger examples all represent relatively high-impact players the Oilers could theoretically acquire as early as this season and keep on the books through the end of McDavid’s contract, with only Forsberg representing the true all-in swing.
Sign a marquee forward
We can probably forget about the upper crust of the (rapidly dwindling) 2026 UFA class. It’s doubtful Artemi Panarin would want to play for Bowman again after Bowman traded him from the Chicago Blackhawks in an infamous 2017 blockbuster, and the Oilers likely can’t afford Martin Necas if they want to avoid having too top-heavy of a roster. They have no goalies signed to the NHL roster for 2026-27, and while they technically have 10 forwards and six defensemen signed, not all those skaters are starter-caliber.
But they could shop in the next tier down. Power forward Alex Tuch has expressed his desire to remain a Buffalo Sabre, but if he doesn’t re-sign, he’d be a nice veteran fit, particularly given his two-way acumen. The Oilers could also consider adding multiple middle-six types with upside, from Oliver Bjorkstrand for scoring to Boone Jenner for leadership and grit. It remains to be seen who makes it to market, but the 2026 class has a bit of everything.
Trade for a goaltender
Optimists can point out that Stuart Skinner and Calvin Pickard were sufficient enough to help Edmonton reach Game 6 and Game 7 of the Stanley Cup Final in consecutive seasons. I’ll point out that the Oilers got as far as they did with team save percentages of .896 and .882 in those playoff runs and that their goaltending might have cost them two Cups.
If the Oilers want to rectify the problem via the trade market, the New York Islanders’ Ilya Sorokin should top the wish list. New GM Mathieu Darche has hesitated to use the word rebuild but, let’s be serious, he dealt his No. 1 defenseman for two first-rounders on Draft day, and it’s thus fair to wonder which other Islander veterans could shake loose. Sorokin’s $8.25-million AAV is a bargain relative to his skill level, and he still played very well last season on a sinking team. He does have a no-movement clause, but would he waive it if he’s sick of losing? The Predators’ Juuse Saros comes to mind, too, signed seven more seasons for $7.74 million annually. To be clear, these are pipe-dream ideas given the significant term both goalies have left.
More realistic: Cam Talbot or even John Gibson if the Detroit Red Wings disappoint again and their playoff drought reaches 10 seasons. If the Kraken continue to scuffle and finally wisen up to the idea that they must go backward to go forward, any goalie-starved team would be prudent to kick the tires on Joey Daccord, one of the most valuable netminders in the league relative to his $5-million cap hit.
Sign a goaltender
Skinner and Pickard (mercifully?) come off the books July 1, 2026. Might Bowman consider rebuilding his crease from scratch? The 2026 UFA class includes Oilers torturer Sergei Bobrovsky, who is highly unlikely to leave Florida; Jacob Markstrom, who has lots of experience playing in Western Canada as a former Vancouver Canuck and Calgary Flame; Frederik Andersen, who has his own big-game shortcomings but would still be an upgrade; underrated backup Scott Wedgewood; and ex-Oiler Talbot. The names to watch in 2027 include Darcy Kuemper and Jordan Binnington, but they make less sense given Oilers have to sort out their net by this summer at the latest. I could see a scenario in which they retain Skinner or Pickard as a backup – but not both. If you’re going to keep repeating the same mistake, why did you even bother to re-sign McDavid? Don’t count on it.
Deepen the defense
This approach felt like more of a priority before Ekholm re-signed. Given Jake Walman also inked a seven-year extension this week, the Oilers have those two, plus top defenseman Evan Bouchard and the polarizing Darnell Nurse under contract for the duration of McDavid’s extension, with Ty Emberson signed through the end of 2026-27 as well. They still could consider deepening their D-corps, but the blueline feels more like a solve-on-the-fly problem for Bowman and could depend on which version of Nurse shows up. The forward group and the net have much bigger holes to fill. Rather than committing term and swinging big at a 2026 UFA such as Rasmus Andersson, for instance, the Oilers could chase rentals for the next couple years. That would mean targeting someone like Mario Ferraro (left side) or Connor Murphy (right side) this winter.
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