Edmonton Oilers defenseman Mattias Ekholm, 35, has signed a three-year, $12 million contract extension with the team. The Oilers officially announced the deal Wednesday, October 8, 2025.
However, reports surrounding the specifics of the deal had been mixed leading up to the announcement. While it was widely reported that Ekholm desired to remain in Edmonton, the term and money involved were subject to speculation. Some suggested a shorter-term deal, while others proposed a contract structured similarly to Chris Tanev's deal with Toronto, which spread out the cap hit over a longer term.
Prior to the agreement, Ekholm had one year remaining on his current contract, carrying a $6 million average annual value (AAV). With the new extension, Ekholm will earn significantly less annually. Some reports speculated a potential two-year, $4 million AAV deal. The final agreement reflects a $4 million AAV over three years.
Ekholm has proven to be a valuable asset for the Oilers, solidifying their top-four defensemen alongside Evan Bouchard and Darnell Nurse. Last season, he averaged over 22 minutes of ice time per game and contributed significantly on the penalty kill. His continued presence is expected to provide stability and experience to the Oilers' defensive core.
The Oilers have been active in securing key players, with recent extensions for Connor McDavid and Jake Walman. With approximately $20 million in projected cap space next summer, the Oilers are aiming to bolster their roster with a top-six winger and improved goaltending, while also retaining important players like Ekholm.
By signing this extension, Ekholm, who is currently 35 years old, is betting on himself to continue playing at a high level into his late 30s. Some argue that a longer-term deal with a lower AAV would have been a more strategic move for the Oilers, potentially mitigating the cap hit in later years. However, the team may be accounting for potential decline in Ekholm's performance as he ages, opting for a shorter commitment.
The new contract ensures that Ekholm will remain with the Oilers through the 2027-28 season. This move signifies the Oilers' commitment to contending for the Stanley Cup in the immediate future, with Ekholm playing a key role on their blue line.
