Oilers Discussing Extension With Key Defenseman

The Edmonton Oilers are discussing an extension with one of their key defenseman.

Apr 7, 2025; Anaheim, California, USA; Edmonton Oilers defenseman Jake Walman (96) shoots against the Anaheim Ducks during the third period at Honda Center. Mandatory Credit: Gary A. Vasquez-Imagn Images / Gary A. Vasquez-Imagn Images

The Edmonton Oilers and captain Connor McDavid are the biggest contract domino yet to fall in the NHL. It's expected to be the richest contract signed in league history, a befitting deal for the world's best player.

Until that happens, however, the Oilers are stuck in limbo regarding their salary cap and financial overview. McDavid is not the only Edmonton player in the final year of his current contract, and the dragging negotiations are now impacting his teammates' ability to sign extensions. The latest one to be affected is key defenseman Jake Walman, who is reportedly not close to a new contract with the Oilers.

Walman is entering the final year of his three-year contract that he signed with the Detroit Red Wings, but there's a desire to stick in Edmonton after such a successful start to his tenure there. Walman's agent, Wade Arnott, recently met with the Oilers management to discuss an extension. The belief, however, is that no deals will be done until McDavid signs his extension. Sportsnet's Mark Spector shared the latest on their negotiations via his X account.

"Jake Walman’s agent, Wade Arnott, was in EDM yesterday to speak with the Oilers on an extension," he wrote. "We suspect that no contract gets done before the McDavid extension is announced. But things can change."

Jake Walman’s agent, Wade Arnott, was in EDM yesterday to speak with the Oilers on an extension.
We suspect that no contract gets done before the McDavid extension is announced. But things can change.

— Mark Spector🇨🇦🇺🇦 (@SportsnetSpec) September 13, 2025

The Oilers acquired Walman before the 2025 NHL Trade Deadline from the San Jose Sharks, and he's been a strong fit in Edmonton. He recorded 40 points during the regular season split between the Oilers and Sharks, and added 10 points in 22 postseason contests and 20 minutes of ice time.

The 29-year-old puck-mover could hit the open market next summer, meaning he and his representatives can take their time on signing an extension. Walman is likely seeking a significant raise from his last deal. His current salary cap hit is $3.4 million, and that number will surely rise when he puts pen to paper on his next contract.

May 25, 2025; Edmonton, Alberta, CAN; Edmonton Oilers defenseman Jake Walman (96) keeps the puck away from Dallas Stars right wing Evgenii Dadonov (63) in game three of the Western Conference Final of the 2025 Stanley Cup Playoffs at Rogers Place. Mandatory Credit: Perry Nelson-Imagn Images / Perry Nelson-Imagn Images

How high will that number be? That's the key question for the Oilers. Two of their defensemen, Evan Bouchard and Darnell Nurse, make $9.5 million or higher, while veteran Mattias Ekholm makes $6 million. Ekholm is also entering the final season of his contract and has previously expressed a desire to stay in Edmonton.

Walman will turn 30 during the season. He's a left-shot defender who can play both the left and right side with success. Strong on the puck and with possession, he's a very solid middle-pairing defenseman in today's NHL. He could easily command a salary north of $5 million on the open market, and if the Oilers match that, they could be looking at over $20 million in annual cap space devoted to their top three defenders. It's not a bad cap number, but when you compare them to the rest of the bluelines in the NHL, it doesn't hold that same value.

It's a dangerous game the Oilers find themselves playing. Delaying any of these pending deals is only costing them salary cap space in the future. If Spector's update is any indication, Walman may be waiting a while to sign a new contract in Edmonton, and by the time they are ready, he might be convinced to test free agency.

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