Connor McDavid may still be the NHL’s standard-bearer, but when the 2026-27 season opens, he won’t be the league’s top earner.
That’s the odd reality created by McDavid’s decision to sign a two-year extension with the Edmonton Oilers last October at a $12.5 million cap hit. It’s the same number attached to his previous eight-year deal from the 2018-19 through 2025-26 seasons, and it means the 29-year-old will once again be taking less than several of the game’s biggest names.
McDavid’s choice was a clear sign of how badly he wants to win with Edmonton. He could have pushed for a record-setting payday. Instead, he stayed at a number that leaves him behind seven players next season, including one teammate.
At the top of the list is Leo Carlsson, whose 2026-27 cap hit jumps to $18 million after an offer-sheet situation with the Philadelphia Flyers forced the Anaheim Ducks to match. The 21-year-old is suddenly carrying the league’s biggest price tag, and the pressure that comes with it.
Kirill Kaprizov sits next at $17 million. The Minnesota Wild locked him in with a September 2025 signing, and he held the title of NHL’s highest-paid player until Carlsson’s deal changed the picture.
Connor Bedard is right behind him at $15 million. The Chicago Blackhawks moved to keep him out of offer-sheet territory this summer, and even after some underwhelming seasons following all that draft-year hype, he’s still landing superstar money on his first contract after his entry-level deal.
Then comes Leon Draisaitl at $14 million. Signed in September 2024, the Oilers star was the league’s highest-paid player when he put pen to paper, and nobody in Edmonton is upset about his cap hit. He’s also the one teammate making more than McDavid.
Jack Eichel checks in at $13.5 million after his October 2025 deal with the Vegas Golden Knights. McDavid may be the better player, but Eichel has the Stanley Cup and the bigger cap number.
Auston Matthews follows at $13.25 million. His August 2023 contract drew plenty of noise at the time because it was only four years long, and the questions around his future in Toronto have already started to swirl again after a disappointing season in Leafsland.
Nathan MacKinnon rounds out the group at $12.604 million. His September 2022 deal edges past McDavid’s number, and given the long-running rivalry between the two stars, that tiny gap feels fitting. MacKinnon wanted that slight advantage, and he’s earned it so far.
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