Brian Babineau via Getty Images

Connor McDavid is staying with the Edmonton Oilers. The three-time MVP will sign a two-year extension with the franchise, keeping him in Edmonton beyond the 2027-28 NHL season, the team announced Monday.

McDavid's new contract won't kick in until the 2026-27 NHL season, per The Athletic. 

The deal will carry an AAV of $12.5 million, per the Oilers.

The deal comes just days before the Oilers play their first game of the 2025-26 NHL season. While signing McDavid — who was entering the final year of his previous contract — was a major priority for the Oilers all offseason, both sides waited until the final stretch to agree on a new deal.

While the drawn-out process led to some wondering whether McDavid would actually stay in Edmonton — he was first eligible to sign an extension with the team in July — reports emerged Monday suggesting both sides made significant progress on a new deal. McDavid leaned into that heavily, tweeting that his journey in Edmonton would continue. 

That, apparently, wasn't a guarantee. McDavid reportedly didn't make the decision to stay in Edmonton until Monday, per ESPN's Greg Wyshynski. Once that happened, things moved quickly. 

Throughout the offseason, McDavid said he would consider any and all extension offers, saying he didn't care if they were short-term deals, long-term deals or if the Oilers decided they were better off not offering an extension. In that latter scenario, McDavid would have played out the final year of his deal and hit free agency in the offseason. Given McDavid's importance to the Oilers, the team didn't want that to happen. 

McDavid, 28, is considered the best hockey player in the NHL. Despite being the No. 1 overall pick in 2015 NHL Draft, McDavid has somehow exceeded expectations. Over the past decade, he leads the NHL in points, holding a 100-point lead over his next closest competitor. He's won three Hart Trophies, four Ted Lindsay Awards and five Art Ross Trophies over his career. That was enough for NHL Network to name McDavid the best player in hockey as recently as Sunday.

With McDavid's greatness unquestioned, the only thing left for him to do in his career is win the Stanley Cup. He's come close, leading the team to the Finals in each of the past two seasons. The Oilers, however, have fallen short both times, losing to the Florida Panthers in both series. Despite the loss, McDavid managed to win the Conn Smythe Trophy in 2024. 

McDavid should have another shot at a championship with the Oilers. While he could have pursued a much bigger contract, McDavid opted to sign for a lower AAV to allow the Oilers to remain competitive while he's under contract.