Connor McDavid might be at his absolute physical peak as a hockey player; that’s why I can understand why he wants to take his time to think about what he’d like to sign for in his next contract. In my mind, he’s been worth a billion dollars or more to the Edmonton Oilers franchise since he was drafted back in 2015. It’s too bad he won’t be paid what he’s really worth.
It’s not like he’s going to start up a tree planting company, similar to what Kawhi Leonard and Los Angeles Clippers owner Steve Ballmer hatched back in the 2019-20 NBA season. Also, I don’t see an ownership deal like the one Mario Lemieux had when he became one of the owners of the Pittsburgh Penguins. It’s too bad the NHL doesn’t hand out salaries like the NFL, MLB, and the NBA, where certain players are pulling in close to $100M a season (CAD). Unfortunately, the NHL just isn’t there in terms of league revenue and popularity, especially in the all-important American market. If McDavid signs for $16M or $17M per season with the Oilers and becomes the highest-paid player in the NHL, it still won’t match what his real value has been to the Oilers.
Oilers Have Increased in Value Exponentially Since McDavid Signed in 2015
When Oilers owner Daryl Katz purchased the team from the Oilers Investors Group in 2008, he paid $200M. That seems like an incredible bargain today, as the Oilers are now valued at $2.65B and are ranked as the sixth most valuable franchise in the NHL according to Forbes.com. The Katz Group has benefited from the NHL signing lucrative national broadcast deals with Sportsnet in Canada, TSN in regional markets, as well as US cable networks such as ESPN, TBS, and TNT; and internet streaming services ESPN+, Hulu, and Max. The Katz Group also negotiated a framework deal with the City of Edmonton in 2013, which resulted in the creation of Rogers Place Arena and the ICE District.
Related: Oilers History: The Day Edmonton Saved the Franchise
As financially positive as these deals have been, the Oilers franchise really benefited from the arrival of McDavid when they won the NHL Draft Lottery on April 18, 2015. In McDavid’s first season with the Oilers, the franchise was valued at $455M. Fast-forward to the 2024-25 NHL season, and seeing the $2.65B value, you can’t help but believe the popularity of McDavid has helped the Oilers grow in value. According to shop.NHL.com, McDavid’s jersey is currently the fourth leading…
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