The Athletic Hockey Show – Emergency Episode Summary

Episode: “Connor McDavid signs two-year Oilers extension | Instant Reaction”

Date: October 6, 2025
Panel: Max Bultman (Host), Mark Lazarus, Daniel Nugent-Bowman

Episode Overview

This emergency episode of The Athletic Hockey Show offers instant reaction and in-depth analysis following news that Connor McDavid has signed a two-year contract extension with the Edmonton Oilers, keeping his annual average value (AAV) at $12.5 million. The hosts break down why McDavid opted for a short-term and (by superstar standards) below-market deal, the implications for the Oilers, and the message this sends to the rest of the NHL.

Key Discussion Points

1. Details of the McDavid Extension

• Contract Terms: Two years, $12.5M AAV (same as current deal).

• Context: In an era where top-tier players like Kirill Kaprizov are signing for $17M/year, McDavid’s choice to re-sign for less is notable.

• Strategic Window: By signing for two more years, McDavid defines a clear competitive window for Edmonton.

  “He has said, been very clear, he wants to win in Edmonton… these guys are now 30 plus. And the clock is really ticking here… So it really puts the onus on management… to get over the hump.”
  — Mark Lazarus (02:30)

2. McDavid’s Sacrifice and Legacy

• Below Market Value: Estimated $7-8M under potential open market value.

• Legacy Focus: Following in the footsteps of legends (Gretzky, Crosby, Ovechkin) by attempting to win where he was drafted.

  “He probably took seven and a half million dollars under market value here. Just a staggering number.”
  — Host (Athletic Hockey Show) (03:28)

  “Let’s be clear, [McDavid] is not the reason the Oilers have not won a Stanley cup. But he wants to… get it done in the place where he was drafted, where he grew up.”
  — Mark Lazarus (03:54)

3. Impact on Stakeholders: Fans, Teammates, NHLPA

• Threading the Needle: McDavid manages to please (or at least not alienate) all parties—fans get more McDavid, the team gets a shot, and the NHLPA sees contract expiry aligned with a new U.S. TV deal.

• Possible Dissatisfaction: No one is truly “thrilled”; fans are anxious about the short term, PA wanted a bigger contract for market-setting, teammates nervous about future departures.

  “In a strange way, I don’t think any single stakeholder can be mad at Connor McDavid for this deal now, because this is what he’s done, right?”
  — Max Bultman (05:16)

  “You can’t be mad at him, but nobody’s thrilled… he kind of just kind of threaded that needle.”
  — Host (Athletic Hockey Show) (06:27)

4. Influence on League-Wide Contract Trends

• Financial Sacrifices: Like Florida’s star players, McDavid’s choice may influence others, but every case is unique to the particular team’s situation.

• Other Superstars: The panel speculates how upcoming free agents will respond, noting not everyone is positioned like McDavid (i.e., a perennial contender).

• Rise of Capology: Players now factor cap and team-building into their decisions (becoming “capologists”).

  “This is just another example of these players feeling the pressure to participate in their team’s building… You have to take that sacrifice… if you want to win.”
  — Host (Athletic Hockey Show) (07:14)

  “Players have become capologists, too. Like, Connor McDavid looks at Leon Draisaitl making 14, Evan Bouchard making …10.5, Darnell Nurse making 9.25 and says, oh my God, if I take… what I’m really worth… is this team really gonna have a chance to win?”
  — Mark Lazarus (08:13)

5. Edmonton’s Local Reaction

• Short-Term Optimism: Fans are thankful the competitive window is extended for at least two more years.

• Lingering Dread: Some fear what happens after this window if the cup isn’t won.

  “It’s definitely like the thrill of, of extending this window for another two years… If the team can’t get it done in this period, again, this isn’t McDavid’s fault, but it is, it’s his problem… he’ll want to get it done and he’s got this time to get it done.”
  — Mark Lazarus (10:18)

6. The Case for Short-Term Superstar Contracts

• Control and Flexibility: Short-term deals allow top players to align contracts with cap jumps and provide more career control.

• Comparisons to NBA: Reference to NBA superstars’ tendency for short-term deals to retain leverage.

• Advice for Players: Don’t lock in for long periods if you want flexibility, especially with a rising salary cap.

  “Guys should be signing two or three year deals so that they can maneuver… and it gives these players the power, and the players should have the power in a league like this.”
  — Host (Athletic Hockey Show) (11:22)

  “The superstars should be signing, like they do in basketball, these short-term deals that allow them to hit the market more consistently and… make more money.”
  — Mark Lazarus (12:09)

7. Front Office Pressure and Team-Building

• All-In Mentality: GM Stan Bowman, faced with a ticking clock, is all-in for a Cup in this three-year window.

• Asset Management: The Oilers are running bare on prospects and draft picks, making the window critical.

• Goaltending Question: Goalie remains a focus for potential upgrades if needed.

  “The clock is ticking… I’m trying to do everything I can to win a Stanley cup in these next three years. Let the future be damned.”
  — Mark Lazarus (13:17)

  “Eventually… this is going to turn into a Chicago-Pittsburgh situation and they need to get a cup while the going is still good.”
  — Mark Lazarus (14:32)

Notable Quotes & Memorable Moments

• On McDavid’s Sacrifice:

  “If three years have gone by, including this one, and he has not won a Stanley Cup… getting a cup somewhere is more important than anything else.”
  — Mark Lazarus (04:57)

• On The Unique Nature of McDavid’s Choice:

  “No one else is in Connor McDavid’s situation. No one else is on a team that’s been to the Stanley Cup each of the last [two] years.”
  — Max Bultman (07:50)

• On The Financial Landscape:

  “The PA wants them [players] to try to get as much money as they can, but they have to look at the team, too. And I think… in a couple years when that contract’s up, he’s really going to secure the bag as you guys refer to it.”
  — Mark Lazarus (09:30)

Timestamps for Key Segments

• 01:49 — Emergency episode open & overview of McDavid’s deal
• 03:28 — Analysis of McDavid’s market value & “throwing down the gauntlet”
• 04:57 — Discussion of legacy and why winning in Edmonton matters
• 06:27 — How McDavid’s deal impacts all stakeholders
• 07:50 — League-wide impacts and “capologist” mentality in NHL players
• 10:18 — Edmonton’s local perspective and fan reaction
• 11:22 — Push for short-term superstar contracts & NBA parallels
• 13:17 — Front office reaction and the need to “push the chips in”
• 15:52 — Host jokes about 2028 trade deadline
• 15:58 — Closing thoughts and wrap-up

Conclusion

This episode captures the seismic impact and strategic nuance of Connor McDavid’s two-year extension with Edmonton. The panel explores the ripple effects for the Oilers, McDavid’s legacy, league contract dynamics, team-building strategy, and what it all means for NHL stars and franchises going forward. The consensus: Edmonton’s window to win is now, and the pressure is on management to capitalize before McDavid—and possibly this core—move on.