Connor McDavid contract breakdown: Where Oilers superstar ranks among NHL's highest-paid players

Bryan Murphy

Connor McDavid contract breakdown: Where Oilers superstar ranks among NHL's highest-paid players image

When it comes to NHL contracts, the league does not hand out nearly as lucrative of deals as other sports. Soccer, football, basketball, and baseball all blow hockey out of the water when talking dollar signs. 

With that said, that doesn't mean those playing at the highest level of the sport can't make a pretty penny off their abilities. Not many know that better than Connor McDavid. 

The Oilers superstar is the best player in the game, and it's not close. The No. 1 overall pick from 2015 has far surpassed expectations, wasting no time becoming a dominant force in the NHL. McDavid has collected plenty of hardware in his career due to his offensive abilities. 

He's also picked up a fat paycheck, as well. Edmonton awarded McDavid long ago for his efforts, making him the highest-paid player at the time. That has since changed, but the Oilers captain remains one of the players earning the most salary year in and year out. 

Here's what to know about McDavid's contract with the Oilers and where he ranks in the NHL. 

MORE: Has Connor McDavid won a Stanley Cup? Full playoff history for Oilers captain

Connor McDavid contract

McDavid owns one of the largest contracts in the NHL. He and the Oilers made history in the summer of 2017 when the two sides agreed to an eight-year, $100 million contract extension, carrying a cap hit of $12.5 million, which set a league record. 

At the time of the signing, McDavid was just 20, coming off his second season in the league. The deal kicked in during the 2018-19 season and remains active to this day. 

The Oilers and McDavid are going to have to talk money again soon. He is signed through 2025-26, but he will be an unrestricted free agent in 2026. 

Here are the full details on his contract. 

SeasonAAV
2018-19$12,500,000
2019-20$12,500,000
2020-21$12,500,000
2021-22$12,500,000
2022-23$12,500,000
2023-24$12,500,000
2024-25$12,500,000
2025-26$12,500,000
2026-27UFA

Highest-paid players in NHL

2023-24

For this season, McDavid owns the second-highest AAV in the league. Only Avalanche star Nathan MacKinnon makes more than the Oilers captain. 

MacKinnon's massive extensions kicked in this season, and as a result, he overtook McDavid for No. 1 on the highest-paid player list. It was an honor that McDavid held dating back to 2018 when he signed his $100 million deal. 

MORE: When was the last time the Oilers won the Stanley Cup?

Here is a look at the top-10 highest-paid players in the NHL for 2023-24. 

RankPlayerTeamAAV 
1Nathan MacKinnonColorado Avalanche$12.6 million
2Connor McDavidEdmonton Oilers$12.5 million
3Artemi PanarinNew York Rangers$11.642 million
4Auston MatthewsToronto Maple Leafs$11.64 million
5Erik KarlssonPittsburgh Penguins$11.5 million
6David PastrnakBoston Bruins$11.25 million
7Drew DoughtyLos Angeles Kings$11 million
 John TavaresToronto Maple Leafs$11 million
9Mitch MarnerToronto Maple Leafs$10.903 million
10Carey Price Montreal Canadiens$10.5 million
 Jonathan HuberdeauCalgary Flames$10.5 million

2024-25

Next year, there is a shakeup at the top. Maple Leafs center Auston Matthews' new deal that kicks in this summer will soon make him the highest-paid player in the NHL, averaging out to $13.25 million a year. He's the first player in the league to make at least $13 million, surpassing the previous record set by MacKinnon. 

As a result, McDavid will soon be knocked down to No. 3 on the list. 

In addition to Matthews' new placement, there are three other names now in the top 10 thanks to lucrative extensions signed recently. That includes Canucks center Elias Pettersson, Maple Leafs winger William Nylander, and Sabres defenseman Rasmus Dahlin. 

Here is a look at the top-10 highest-paid players in the NHL for 2024-25. 

RankPlayerTeamAAV 
1Auston MatthewsToronto Maple Leafs$13.25 million
2Nathan MacKinnonColorado Avalanche$12.6 million
3Connor McDavidEdmonton Oilers$12.5 million
4Artemi PanarinNew York Rangers$11.642 million
5Elias PetterssonVancouver Canucks$11.6 million
6Erik KarlssonPittsburgh Penguins$11.5 million
 William NylanderToronto Maple Leafs$11.5 million
8David PastrnakBoston Bruins$11.25 million
9Drew DoughtyLos Angeles Kings$11 million
 John TavaresToronto Maple Leafs$11 million
 Rasmus DahlinBUffalo Sabres$11 million

Bryan Murphy

Bryan Murphy Photo

Bryan Murphy joined The Sporting News in 2022 as the NHL/Canada content producer. Previously he worked for NBC Sports on their national news desk reporting on breaking news for the NFL, MLB, NBA and NHL, in addition to covering the 2020 and 2022 Olympic Games. A graduate of Quinnipiac University, he spent time in college as a beat reporter covering the men’s ice hockey team.