McDavid says no to big extension money, Oilers have 3 years to make it count

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00:00The best player in the National Hockey League is staying in Edmonton.

00:04Now you'd think we'd be talking about record numbers and a massive payday,

00:08but that's not the case for Conor McDavid.

00:11The Oilers captain is giving the team three years to win a Stanley Cup

00:15and leaving several million dollars on the table to help out.

00:21McDavid, a three-time league MVP, signed a two-year extension worth $25 million,

00:27which, added on to the final year of his current deal,

00:31means the club has their captain for three more seasons.

00:35It also means McDavid said no to a raise from his current $12.5 million yearly salary.

00:42He's still not the highest-paid player, even on his own team.

00:46Leon Dreisaitl makes $14 million per season.

00:49Oilers general manager Stan Bowman called the contract talks unique

00:53because the terms and the dollars were never discussed.

00:57Usually when you have a negotiation, it's more about back and forth

01:02on the term or the structure of the deal, but that was never talked about.

01:08It was really just the other parts of just where we're headed

01:11and the vision for the team and how we're going to improve

01:15and all those types of discussions.

01:18The Oilers and McDavid have fallen just short of the Stanley Cup the past two seasons,

01:23losing in back-to-back finals to the Florida Panthers.

01:28Bowman said the discount McDavid is taking will help improve the team not only this season, but long-term.

01:35It's obvious what he wants, which is he wants to win, and his actions have shown that.

01:40I think that's a pretty inspiring thing for a player to see.

01:45Each player's situation is different, but if I'm a player that's thinking to come to Edmonton for next year,

01:53it gets me pretty excited knowing how committed the captain is.

01:57The inspiration and the payroll flexibility are nice,

02:01but now the pressure to win a Stanley Cup is even greater,

02:04with McDavid possibly hitting the market in 2028 as the biggest free agent in league history.

02:10It's a great situation to be in. We're optimistic for where we are right now.

02:15I like our group for this year, and getting off to a good start is important.

02:21McDavid will likely outline his reasons for taking less money and less years on his deal in the next day or two.

02:27He announced his intention to stay in Edmonton on his social media account,

02:32posting a montage of pictures with one simple line.

02:35Our journey here continues.

02:37The NHL season opens Tuesday night.

02:40The Oilers play their first game Wednesday, when they host the Calgary Flames.

02:45For Straight Arrow News, I'm Chris Francis.