The Edmonton Oilers may be closing in on a significant long-term extension with defenseman Jake Walman, with growing signs pointing to an eight-year deal.
First floated by Tyler Yaremnuck of Oilers Nation and recently echoed by insider Bob Stauffer, the speculation is gaining credibility inside the organization.
Walman, 29, is entering the final year of his current $3.4 million contract and is coming off a strong playoff performance. Oilers GM Stan Bowman recently acknowledged preliminary talks with Walman’s camp and expressed optimism that a deal could be reached within the next six weeks.
Why An 8-Year Deal for Walman?
The logic behind an eight-year extension is straightforward. Under current NHL rules, only the Oilers can offer Walman that maximum term before he hits unrestricted free agency. A deal in the $6–6.25 million AAV range—roughly $48 to $50 million total—would provide Edmonton long-term cost certainty and prevent the risk of paying up to $8 million annually if Walman hits the open market.
Biggest Blunder: Oilers 2024 Offseason Do-Over List
The
<a href="https://www.nhl.com/oilers/">Edmonton Oilers</a> made several mistakes during the summer of 2024. Coming off a Stanley Cup Final appearance where they were one win away from being the champions, the Oilers were down because of the loss, but feeling good about the strength of their team and the chance to get back there the following season. The interim GM made several decisions that seemed like winners at the time, but wound up costing the Oilers dearly.
For Walman, the appeal is just as clear. He’s only earned about $12 million to date. Locking in eight years offers him a sense of contract security he's never had. Add to that it's with a Stanley Cup contender—while playing alongside superstars like Connor McDavid and Leon Draisaitl -- and you can understand why he might be tempted.
At some point, the Oilers might call upon Walman to step into the role currently being served by Mattias Ekholm. This is a player the Oilers like and there will be plenty of opportunity for him to continue elevating his game. However, he's not likely to get that opportunity this season. If he waits, he’s betting on another elite season and the unpredictability of free agency.
At 30 next season, Walman has plenty to consider. Signing now could secure the final major contract of his career, giving him both stability and a shot at a championship.
From Edmonton’s perspective, locking up a top-four defenseman at below market value could be a steal. If Walman maintains his current level, a $6 million AAV may look like a bargain in just a few seasons.
This is shaping up to be a classic win-win—if Bowman can close the deal.
Oilers Don't Need Another New Forward Right Now
Oilers Spunky Defender Has Earned New Deal