Leon Draisaitl is expected to sign a new contract with the Edmonton Oilers as early as tomorrow. The deal could be worth $14 million per year over eight years, totaling $112 million. Earlier estimates suggested the deal might be around $13.5 million per year, but recent updates indicate it could be higher.

2 Mutts Hockey Podcast tweeted on X:

“We are hearing that Leon Draisaitl could sign as early as tomorrow, there’s a possibility it could come in around 8 years/$14M AAV. Originally we thought it could be around $13.5M AAV as we know things change & everything we are hearing is that this deal should get done this week. Let’s see how this all plays out. #LetsGoOilers”

The Oilers and Draisaitl began discussing the new contract in August. Draisaitl is in the final season of his current eight-year, $68 million contract. Oilers GM Stan Bowman wants to keep Draisaitl long-term and has emphasized his importance to the team.

“I had a good conversation (with Draisaitl’s agent Mike Liut) and we’re starting things off and the timing on that will be what it will be,” Oilers GM Stan Bowman said in the first week of August at Rogers Place. “I don’t have an update of where it’s going to be or the timing on that, but there is nothing negative to report, certainly.”

Draisaitl had a strong 2023-24 season, with 106 points in the regular season and 31 points in the playoffs. Bowman is also focused on signing captain Connor McDavid next offseason. Keeping both players is key to the Oilers’ future success.

Frank Seravalli suggests deferred payments for Leon Draisaitl’s contract with Oilers

Last week, Frank Seravalli suggested a new approach for handling Leon Draisaitl’s contract with the Edmonton Oilers. He suggests using deferred payments, a method often seen in baseball. This would mean paying part of Draisaitl’s salary after his contract ends.

For instance, Seth Jarvis of the Carolina Hurricanes has a deal with some salary deferred. This lowers his annual cap hit from $7.9 million to $7.5 million.

Seravalli thinks Draisaitl could also benefit from this approach. An eight-year, $113.6 million deal with deferred payments could reduce his cap hit from $14.2 million to around $10 million. This could help the Oilers manage their salary cap more effectively. Although deferred payments are unusual in the NHL, they could become a useful tool in future contract negotiations.