Money changes everything—sometimes more than anticipated.
Among the Vegas Golden Knights’ foremost objectives this season is securing a contract extension for Jack Eichel. But achieving that goal could be anything but straightforward.
The Draisaitl Deal Changed The Landscape
Just over a year ago, Leon Draisaitl finalized an eight-year, $112 million extension with the Edmonton Oilers, carrying a $14 million average annual value. Before that deal materialized, the Colorado Avalanche were confident they could secure Mikko Rantanen to a long-term extension. Draisaitl’s landmark agreement, however, reset the market: Rantanen now sought compensation in a similar range.
Constrained by payroll limitations, Colorado was unable to meet his demands, and negotiations dragged on for months until GM Craig MacFarland, exasperated by the impasse, ultimately traded his star winger to the Carolina Hurricanes in exchange for Martin Nečas, Jack Drury, and two draft picks. Rantanen, of course, exacted a measure of postseason retribution after being dealt once more—this time to the Dallas Stars—where he single-handedly eliminated his former team in a decisive Game 7.
Eichel, selected second overall behind Connor McDavid in the 2015 NHL Entry Draft, shares a parallel career trajectory with the Oilers superstar: both are entering pivotal contract years as pending unrestricted free agents. For Golden Knights general manager Kelly McCrimmon, the imperative is clear—if the organization intends to retain Eichel, securing his signature promptly should be a top priority.
The broader financial landscape of the NHL adds an additional layer of urgency. The salary cap is projected to rise from $95.5 million in 2025–26 to $113.5 million by 2027–28, positioning elite talents like McDavid to command significantly higher compensation in their next negotiations. Consider a scenario in which McDavid opts for a short-term deal in the range of a four-year, $76 million deal ($19 million AAV). Such a contract could establish a benchmark that influences Eichel's expectations. If McDavid signs before Eichel does, it is conceivable that Eichel might use it as leverage to secure a more favorable deal.
Of course, every player approaches negotiations differently. Eichel might very well prioritize factors beyond monetary compensation—placing greater value on competing for another Stanley Cup in the vibrant city of Las Vegas. While he is unlikely to voice such sentiments publicly, history offers examples of athletes willing to accept team-friendly terms.
Perhaps the most prominent is Tom Brady, minority owner of the Las Vegas Raiders and widely regarded as the greatest quarterback in NFL history, who frequently agreed to below-market contracts during his tenure with the New England Patriots. Such concessions, however, have become increasingly rare in today’s professional sports landscape.
The Mitch Marner Angle
Another factor shaping Eichel’s potential next contract is the precedent set by Mitch Marner. The Toronto Maple Leafs inked Marner to an eight-year, $96 million extension before promptly trading the 28-year-old to the Vegas Golden Knights in exchange for Nicolas Roy. Marner, who tallied 102 points (27 goals, 75 assists) over 81 regular-season games last year, secured a $12 million AAV.
By comparison, Eichel recorded a career-high 94 points (28 goals, 66 assists) in 77 games and played a pivotal role in the Golden Knights’ 2023 Stanley Cup championship run—an achievement that arguably enhances his market value, particularly given his demonstrated playoff impact, which Marner has yet to replicate.
While Eichel’s raw production slightly trails Marner’s, the broader context—including a rising salary cap and the historical reality that compensation often eclipses statistics—suggests it may have little effect on negotiations. For reference, Auston Matthews currently earns more than Nathan MacKinnon despite a somewhat profound production gap over recent seasons.
Projections indicate that Eichel could command as much as $15 million per season. However, should McDavid approach a $19 million annual figure, it would not be surprising for Eichel to seek a contract in the $17 to $18.25 million range if negotiations extend further into the offseason.
McCrimmon must tread carefully in timing these discussions. Prolonged delays risk escalating Eichel’s demands beyond the Golden Knights’ comfort zone. Speaking with TSN Hockey Insider Pierre LeBrun of The Athletic, McCrimmon emphasized the urgency of securing Eichel’s services.
"That’s a priority," McCrimmon said. "It remains a priority. He’s been a great player for our organization. I think our organization has been great for him. So, lots of interest, obviously, I think from both sides to make something work."
Let’s see who makes the first move.