The Edmonton Oilers have signed forward Leon Draisaitl to an eight-year contract worth $68 million, which translates to an average annual value of $8.5 million.

The 21-year-old was a restricted free agent.

The Oilers selected him third overall in the 2014 NHL Entry Draft and he’s gone on to become a dynamic part of the young lineup, providing a nice counterpoint to Connor McDavid at the forward position. He became the highest drafted German player in league history.

In 2016-2017, Draisaitl had 29 goals and 48 assists for a total of 77 points in 82 games. He had six goals and 10 helpers in 13 playoff games.

Draisaitl finished second on the Oilers in scoring behind McDavid and was eighth among all NHL skaters in 2016-2017. He set a new points record for German players, eclipsing Marco Sturm, and he put together 27 points on the power play.

In his career with the Oilers thus far, Draisaitl has 137 points in 191 games.

Draisaitl had nine points in his rookie season and played 37 games, which allowed the Oilers to spend a season on his entry level contract. That didn’t push him toward unrestricted free agent eligibility, however, which subsequently established the basis for Edmonton’s Wednesday contract. Draisaitl will be an unrestricted free agent when his new deal expires at the conclusion of the 2024-2025 season.

“I’m really excited to be back for eight years,” Draisaitl said. “I never really thought about going anywhere else. We have something really special. We have a great group of guys. It’s something I wanted to be a part of as long as possible.”

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