One of the biggest extension narratives of the offseason has been the contract status of Edmonton Oilers’ superstar Leon Draisaitl. There is no guarantee that a deal will come to fruition this summer but all signs point to the two sides being able to work out a resolution at some point. Jim Matheson of the Edmonton Journal reported today that the contract could look a lot like that of star center Nathan MacKinnon, that is to say, an extremely bonus-laden deal with a low annual salary.
On September 20, 2022, the Colorado Avalanche signed MacKinnon to one of the richest deals in NHL history with an eight-year, $100.8MM contract. The term changes yearly, but the contract pays MacKinnon as low as $775K in salary and up to $15.725MM in signing bonus. Unsurprisingly, Draisaitl would be seeking a similar deal as it gives the player quite a bit of financial protection.
Signing bonuses gives players protection in two ways. First, it makes the contract buyout proof. If MacKinnon’s contract were bought out by the Avalanche in year one of his deal, for example, he would only be losing out on $775K that year while still receiving $15.725MM on July 1st. Additionally, the signing bonus also makes the contract lockout-proof. If the NHL were to enter a lockout in any year, Drasaitl would miss out on his yearly salary but still earn his signing bonus on July 1st.
The request for signing bonuses in high-ticket contracts is becoming more common for star players throughout the NHL world with the likes of Connor McDavid and John Tavares having similar contract structures. Now that Draisaitl comfortably finds himself in the upper echelon of NHL talent, the Oilers should be more than happy to agree to his terms.
Other Pacific notes:
- In a wrap-up piece of the Vegas Golden Knights’ offseason, independent correspondent of the NHL, Paul Delos Santos suggests the Golden Knights could try out new forward Victor Olofsson on the team’s top line next to Jack Eichel. Olofsson spent quite a bit of time on Eichel’s wing during his rookie season with the Buffalo Sabres in 2019-20, and the Swedish had arguably the best season of his career. In only 54 games primarily playing next to Eichel, Olofsson scored 20 goals and 42 points and finished seventh in Calder Trophy voting. It could be risky business for Vegas as Olofsson fell down the depth chart in Buffalo but could be a high-reward move as the cap-strapped Golden Knights look to fill out their roster.
- Staying in Vegas, there have been some rumblings that the team’s first-round pick of the 2024 NHL Draft, Trevor Connelly, may forego his commitment to Providence College and sign his entry-level contract with the Knights. However, David Pagnotta of The Fourth Period reports that is not the case and that Connelly will indeed honor his commitment to the Friars. Connelly is coming off a season in which he scored 31 goals and 78 points in 52 games for the Tri-City Storm of the USHL last year and will look to help Providence keep their head above water in a difficult Hockey East conference.
- The Anaheim Ducks organization is bringing back a brief member of their defensive core. The team’s AHL affiliate, the San Diego Gulls, announced former defenseman Bret Hedican has been hired as a senior development analyst. After retiring from the NHL as a member of the Ducks after the 2008-09 season, Hedican had been working in the broadcast department with the organization’s rival — the San Jose Sharks.
Drai’s going to get a stupid contract. 8 years/$111M, around a $13.9M cap hit, probably $10-12M in bonuses, rest in salary. That’s my guess.
Bowman will screw it up just watch. Worst hire in NHL history.
Now there’s one less reason to listen to Sharks games on the interweb radio, with Hedy leaving. Maybe Drew comes back to the radio side, or Ruzy flies solo.