As Connor McDavid enters the final year of his current contract, the Edmonton Oilers are undoubtedly eager to secure a contract extension with their captain and arguably the best player in the world. While the negotiation details remain confidential, trusted Oilers pundits are suggesting creative approaches to ensure McDavid remains in Edmonton for the long haul.

McDavid's current contract carries an average annual value (AAV) of $12.5 million. However, with the NHL's salary cap expected to rise, his next contract is projected to be significantly higher. Some speculate that McDavid could command a minimum of $16 million per year, potentially setting a new league record. His teammate, Leon Draisaitl, currently holds the title of the league's highest-paid player at $14 million per year. Some believe McDavid may even take a "haircut" to allow the Oilers to sign other players.

One potential creative contract structure involves a shorter-term deal. Instead of the maximum eight-year extension, McDavid might opt for a three- or four-year agreement. This would provide him with greater flexibility and the opportunity to re-evaluate his situation as the league evolves. According to hockey insider Frank Seravalli, McDavid may be considering a shorter-term deal, at around $16-17.5 million AAV. While the Oilers would ideally prefer an eight-year commitment to lock McDavid in through 2034, they may be willing to compromise to secure his services for the foreseeable future.

Another creative approach could involve performance-based incentives or clauses that allow McDavid to have more control over the team's direction. Given his importance to the organization, McDavid has significant leverage in negotiations. If McDavid feels that the Oilers have a good chance to win consistently, then signing an extension should not be a problem. It's been speculated that before McDavid gets to the last year of an Oilers extension, if unhappy, he will let the Oilers know, so they can trade him for a bundle.

The Oilers have been strategically managing their salary cap to accommodate McDavid's future contract. Next offseason, they are projected to have $45 million available in cap space. This financial flexibility allows them to offer McDavid a competitive salary while also building a strong supporting cast around him.

Ultimately, the decision rests with McDavid. Factors such as his desire to win a Stanley Cup in Edmonton, his comfort level with the team's management and direction, and his long-term financial goals will all play a role in his decision. The Oilers are keen to avoid McDavid hitting the open market next July.

As the negotiations progress, Oilers fans can expect ongoing speculation and rumors. However, one thing remains clear: securing McDavid's future in Edmonton is the organization's top priority.