When it comes to the Edmonton Oilers’ pending contract extensions, the order of operations matters. All signs point to superstar and captain Connor McDavid’s new deal being the trigger for a series of moves that will set up several deals to follow. 

From there, we have some idea of who will be announced and when. From Jake Walman to Mattias Ekholm, Vasily Podkolzin, and Brett Kulak, the Oilers have several key players in line for new contracts.

But the dominoes won’t fall until the McDavid situation is resolved.

McDavid: The Centerpiece of It All

Speculation around McDavid’s next contract has hit a fever pitch, but according to Sportsnet’s Elliotte Friedman, much of it is noise. Even Friedman admits he doesn’t know exactly where things stand—a rare admission from one of hockey’s most connected insiders.

That lack of clarity has fueled wild theories, from McDavid leaving Edmonton to him signing a record-setting deal. The truth is that only four people—GM Stan Bowman, Oilers CEO Jeff Jackson, McDavid himself, and agent Judd Moldaver—know the reality. Everyone else is guessing.

Until McDavid makes his decision, no other major extensions will be announced. His deal will set the tone for the team’s salary structure and, in many ways, define the Oilers’ competitive window.

Walman: Extension Ready, Waiting on McDavid

Mark Spector of Sportsnet reported that Walman and the Oilers are hashing out the makings of an extension. That means the defenseman is likely next in line.

His agent, Wade Arnott, recently met with Oilers management, and talks are said to be progressing well. Multiple insiders, including Bob Stauffer, have hinted at a long-term agreement, possibly six years at around $6 million annually.

Walman, 29, played a huge role last spring when Mattias Ekholm was injured, showing he can handle top-four responsibilities. The Oilers view him as a long-term fit, but the official announcement of his extension appears to be paused until after McDavid’s deal is finalized.

Oilers Begin Contract Talks With Key D-Man, But Extension Not Imminent The <a href="https://thehockeynews.com/nhl/edmonton-oilers">Edmonton Oilers</a> have opened discussions with defenceman Jake Walman on a potential contract extension, though sources suggest a deal is not expected in the immediate future.

Ekholm: Veteran Leadership on Hold

Mattias Ekholm, entering the final year of his deal, has been clear that he wants to remain in Edmonton. The 35-year-old defenseman is an essential leader on the team and has been arguably one of the team's best trade deadline acquisitions in years.

'Absolutely I Want To Stay In Edmonton': Veteran D-Man On Possible Extension

The challenge for the Oilers is determining the right term.

Ekholm is still highly effective, but age and recent injuries raise questions about what kind of term is best for both sides. Ekholm probably knows he'll need to take a team-friendly deal, but he's still worth something on the open market.

A two or three-year extension at a manageable cap hit might be the sweet spot.

Podkolzin: A Bridge Deal Likely

Vasily Podkolzin has quietly carved out a role as a tenacious two-way winger. At 24, he’s earned the nickname “Podzilla” for his aggressive forecheck and physical play. He's often the first to arrive and the last to leave at practices and games, taking great pride in learning and soaking up everything he can like a sponge to improve.

If he takes a massive step this season, he could put himself in line for a surprising bump in salary. Insiders project a three-year bridge deal, giving Edmonton flexibility while allowing Podkolzin to cash in and continue to work on his game. 

Given recent comparable contracts around the league, the Oilers will want to avoid overpaying but also ensure they keep a player who complements their core stars.

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Kulak: The Odd Man Out?

It's tricky to predict what will happen next summer with Brett Kulak. While he’s delivered solid value at just $2.75 million per season, his future in Edmonton is murky. With Darnell Nurse, Walman, and Ekholm all occupying left-defense slots, Kulak may be squeezed out. If the Oilers sign Walman and Ekholm, they might have to wait to sign Kulak after the season, especially if they pick up a piece or two with term at the trade deadline. 

Kulak has proven he can handle more than a third-pairing role, but opportunity might be limited in Edmonton. He could find a better fit—and potentially a bigger paycheck—elsewhere. Stauffer recently hinted that Kulak “will have a decision to make,” suggesting he may not be part of the Oilers’ long-term plans.

The Domino Effect

The sequence is clear: McDavid signs, and then the rest follows. Walman’s extension is likely the first to be announced once the captain is locked in, with Ekholm and Podkolzin shortly after. Kulak’s situation, however, may linger, hinging on both roster balance and his own career priorities.

As for the goaltenders, I don't expect either to be inked to new deals unless someone like Stuart Skinner gets off to an incredibly hot start. Even then, the Oilers probably want to see if he can keep it up in the playoffs. His consistency in the post-season has been the big question mark for the organization.

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