The extension starts this coming season and goes through the 2024-25 campaign, running mostly concurrently with the eight-year, $100-million extension star captain Connor McDavid signed with the club in July. McDavid’s extension will come into effect after he finishes his entry-level deal this season.
With the signing, the Oilers are banking heavily on McDavid and Draisaitl providing a potent one-two punch for the club as it looks to build on last season’s return to the playoffs after a decade of futility.
Draisaitl, a 21-year-old German, had 77 points (29 goals, 48 assists) last season, his third in the NHL.
He finished eighth among NHL scorers, and second on the Oilers behind McDavid.
He also led the Oilers in scoring during the 2017 playoffs, posting 16 points (six goals, 10 assists) in 13 games.
Draisaitl was selected third overall by the Oilers at the 2015 NHL draft.