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The Oilers are reportedly planning to wait until free agency begins to sign Zach Hyman to a seven-year contract

Photo credit: Jean-Yves Ahern-USA TODAY Sports

By Cam Lewis

Jul 24, 2021, 11:18 EDTUpdated: Jul 24, 2021, 11:22 EDT

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We all know at this point that Zach Hyman is going to be an Oiler. The only question left is what his contract is going to look like.

There was word during the week that the Oilers were trying to work out a deal with the Toronto Maple Leafs to acquire Hyman’s UFA rights in order to be able to sign him to an eight-year deal rather than the maximum seven-year deal they’ll be able to offer him on the open market.

According to Darren Dreger, the two teams haven’t reached a deal and the Oilers plan to simply wait and sign Hyman in free agency…

Darren Dreger

@DarrenDreger

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Looking like the Oilers are going to wait and sign Zach as a free agent on Wednesday which means a maximum 7 year term. Toronto placed a higher value on the cap savings Edmonton would gain with the 8th year in a sign and trade, than the Oil are willing to pay in a draft pick.

3:10 PM · Jul 24, 2021

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Had the Oilers acquired Hyman’s rights, his eight-year deal would have featured a lower cap hit, likely around the $5.125 million mark. Now that they’re signing him on the open market, his seven-year deal will likely come in around $5.5 million annually.

We’ll find out what the terms look like when free agency begins on Wednesday, July 28.