NHL Superstars Paving Way for More Power

The superstars of the NHL are paving the way for everyone's salaries to grow.

May 16, 2024; Vancouver, British Columbia, CAN; Edmonton Oilers forward Connor McDavid (97) and forward Leon Draisaitl (29) and defenseman Evan Bouchard (2) during a stop in play against the Vancouver Canucks during the first period in game five of the second round of the 2024 Stanley Cup Playoffs at Rogers Arena. Mandatory Credit: Bob Frid-USA TODAY Sports / bob frid-usa today sports

The Edmonton Oilers made Leon Draisaitl the highest-paid player in NHL history with his new eight-year extension. Carrying an average salary cap hit of $14 million, this is now the third time in recent memory that a new record has been set for player earnings. Teammate Connor McDavid is next up to sign another record-breaking contract, and the market will again be reset. It's a sign that the league is regaining traction following the COVID-19 pandemic and their stagnant revenue stream. More importantly, it's a sign of the power shifting from the organizations to the players in the league.

Leon Draisaitl is the latest player break the bank, joining fellow superstars like McDavid, Nathan MacKinnon, and Auston Matthews. It's a shift from the "old ways" of constructing a roster, and it's even a departure from the mindset of leading players a decade ago.

Look at the Pittsburgh Penguins and Sidney Crosby. They made a radical move agreeing to a 12-year deal that paid him $8.7 million annually. He could've asked for north of $10 at the time, but to ask for more would've been seen as taking away from the organization's ability to win. Entering the final season of his deal, the league's top players have nearly doubled the salary he signed for a decade ago.

The superstars of today are bucking the trend of taking less for the good of the team. Not because they are selfish or care less about winning, but because they are committed to their value. McDavid and Leon Draisaitl are the catalyst for the Oilers boom in popularity and revenue since their arrivals.

According to Forbes, the Oilers' organizational value in 2014 was roughly $475 million. Fast forward a decade and two superstars later, and the team is worth a reported $1.98 billion, a staggering increase in just 10 years. The Oilers ownership group has made triple their team's worth in the last decade, and rocketed them into the top-10 of most valuable franchises in the NHL.

There's no way to hide this information or to suggest other reasons for this growth, and it's why players like McDavid and Draisaitl aren't settling for good money, they're demanding their worth.

The increase in salary is hitting the best players first, but the effect it's having on the entire player population is evident. There was a time when players hitting restricted free agency meant they would sign a short-term deal that underpaid them and then they'd cash in during unrestricted free agency. That is now a thing of the past. Look at the RFA's who signed huge deals this summer alone: Martin Necas, Seth Jarvis, and Philip Broberg are just a few that are set to make $4.5 million or more with their new deals.

The power in the NHL is shifting. The league is growing, generating more revenue than ever, and it's all due to the players on the ice. That belief has turned into action, with players demanding and receiving more and more with their contracts. It's a slow process, but the superstars of today's game are paving the way for the players to keep earning more and more.

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