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Breaking down the details in Oilers’ extensions for McDavid, Walman, and Ekholm

Photo credit: © Kiyoshi Mio-Imagn Images
By Zach Laing
Oct 8, 2025, 12:00 EDTUpdated: Oct 8, 2025, 14:22 EDT
It’s been a tidy few days of work for the Edmonton Oilers off the ice.
Not only did their captain Connor McDavid come to them with the McDiscount on Monday, inking a two-year, $25-million extension, but Jake Walman signed a solid seven-year, $49-million deal. Then on Wednesday, Mattias Ekholm took a pay cut of his own, signing a three-year, $12-million deal.
All three deals help set the Oilers up well into the future, giving them some security with key cogs in the machine that run this team on-ice. And the structure of the deals will undoubtedly help the team down the road, too.
PuckPedia has the details on all the contracts, and the least complicated of the bunch is McDavid’s deal.
The two-year extension, which kicks in for the 2026-27 and runs through the 2027-28 campaign, carries a $12.5-million cap hit and annual average value, with $13.4-million and $9.85-million paid out in signing bonuses over the two years. He’ll get a base salary of $850,000 in the first year and $900,000 in the second. As expected, there’s a full no-movement clause in place.
Walman’s deal is a bit more complicated, given the length of it. Here’s the breakdown, courtesy of PuckPedia.
2026-27 | 2027-28 | 2028-29 | 2029-30 | 2030-31 | 2031-32 | 2032-33 | 2033 |
|---|---|---|---|---|---|---|---|
Cap Hit | $7,000,000 | $7,000,000 | $7,000,000 | $7,000,000 | $7,000,000 | $7,000,000 | $7,000,000 |
AAV | $7,000,000 | $7,000,000 | $7,000,000 | $7,000,000 | $7,000,000 | $7,000,000 | $7,000,000 |
Base | $1,240,000 | $2,500,000 | $4,000,000 | $2,565,000 | $5,565,000 | $5,565,000 | $5,565,000 |
Performance Bonuses | – | – | – | – | – | – | – |
Signing Bonuses | $6,000,000 | $5,000,000 | $4,000,000 | $4,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
Total Salary | $7,240,000 | $7,500,000 | $8,000,000 | $6,565,000 | $6,565,000 | $6,565,000 | $6,565,000 |
Minors Salary | $7,240,000 | $7,500,000 | $8,000,000 | $6,565,000 | $6,565,000 | $6,565,000 | $6,565,000 |
Clauses | NMC | NMC | NMC | NMC + M-NTC | M-NTC | M-NTC | M-NTC |
What’s worth noting is the salary structure and clause structure of the deal. His contract is front-loaded in terms of signing bonuses, and back-loaded in terms of salary. That will, if the situation arises, make a potential buyout of the final year or two of the deal more palatable for the team. The clause structure, too, act as an option for getting out from those years, too.
Walman’s deal carries a full no-movement clause through the first four seasons, but on June 15th, 2030 after that fourth year, the clause shifts to a 15-team no-trade list. That means if the team chose to do so, they would have the ability to trade Walman easier around the draft and free agency of that year.
When it comes to Ekholm’s deal, it’s the most convoluted of the bunch. Off the top the $4-million cap hit is a great number for the team, considering the rising cap and Ekholm entering his late 30’s. What’s interesting is despite Ekholm being 35 years old, this deal won’t count as a 35+ contract.
According to PuckPedia, a contract is exempt of that rule if “total compensation either stays the same or increases from one year to the subsequent year,” and “there are no signing bonuses after Year 1.” In Ekholm’s deal, both are applicable.
He’ll receive a $2-million signing bonus in year one along with a $2-million base salary, and in years two and three, he will receive all $4-million in his base salary, keeping his compensation the same in each season.
All in all, some very tidy work by the Oilers.
Zach Laing is Oilersnation’s associate editor, senior columnist, and The Nation Network’s news director. He also makes up one-half of the DFO DFS Report. He can be followed on X at @zjlaing, or reached by email at zach.laing@bettercollective.com.
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