McDavid contract time? Oilers to host ‘major news’ press conference today

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The Edmonton Oilers will host a “major news” press conference at 3 p.m ET today at Rogers Place. The speculation is that they’ll announce Connor McDavid has signed a contract extension.

McDavid, 20, still has a year left on his entry-level deal, but he became eligible to sign an extension on July 1.

The cap hit on his new deal could reportedly approach $13 million, which would make it the highest in the NHL by a fair margin.

McDavid won the Hart Trophy and Art Ross Trophy in 2016-17 after piling up 100 points (30G, 70A) in 82 games and leading the Oilers back to the playoffs for the first time since 2006.

The Oilers also need to sign Leon Draisaitl. The 21-year-old center is currently a restricted free agent, after his entry-level contract expired June 30.

GM Peter Chiarelli has vowed that the Oilers will match any offer sheet for Draisaitl.

Related: For Oilers, trading Jordan Eberle was about ‘long-term thinking’