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Connor McDavid signs contract extension with Edmonton Oilers worth $100M

Connor McDavid happy to stay in Edmonton Oilers jersey: ‘I want to win here’
WATCH ABOVE: Connor McDavid said he's looking forward to wearing an Oilers jersey for the next nine years and is excited to win in Edmonton.

The Edmonton Oilers and Connor McDavid have come to a contract extension agreement.

McDavid has signed a contract extension with the team worth $100 million over eight years. It’ll kick in for the 2018-19 season and run through 2025-26.

WATCH: Edmonton Oilers sign Connor McDavid: ‘Not a bad way to start the next 9 years’

Edmonton Oilers sign Connor McDavid: ‘Not a bad way to start the next 9 years’
Edmonton Oilers sign Connor McDavid: ‘Not a bad way to start the next 9 years’

His new contract translates to $12.5 million per season. That’s the highest annual average value for a contract in league history.

“This may be one of the largest contracts ever given in the NHL, but I can assure you it easily could have been a lot higher in value and shorter in term,” president of hockey operations and general manager Peter Chiarelli said.

“Building a team to win the Stanley Cup was a constant discussion point in this negotiation.”

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WATCH: How did the Oilers come to $12.5M per season for Connor McDavid?

How did the Oilers come to $12.5M per season for Connor McDavid?
How did the Oilers come to $12.5M per season for Connor McDavid?

McDavid was drafted first overall by the Oilers in 2015. He has 148 points in 127 career regular season games and nine points in 13 playoff games.

“Being here for the next nine years is something that was important to me,” McDavid said after the announcement. “I wanted to show my commitment to the Oilers organization, the fans, the city — show that I’m in it for the long haul.”

McDavid, 20, won the Hart Trophy as NHL MVP this past season while leading the league in scoring with 100 points. The Oilers captain also took home the Ted Lindsay Award and was named to the NHL’s First All-Star Team.

LISTEN: Connor McDavid joins Bob Stauffer on Oilers Now! after signing contract extension

“I want to win here,” McDavid said of his future in Edmonton. “This is a city with such a rich history and it’s so important that we bring that back.

“We got a taste of it last year but we certainly have some unfinished business.”

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The Edmonton Oilers will be back in action when the pre-season starts in September with split-squad games in Edmonton and Calgary against the Flames Sept. 18.

The regular season starts Oct. 4 when the team hosts Calgary. 630 CHED will once again carry all the action live all season.

Connor McDavid inks contract extension with Edmonton Oilers on July 5, 2017.
Connor McDavid inks contract extension with Edmonton Oilers on July 5, 2017. Jack Haskins, Global News
Oilers captain Connor McDavid speaks with media after the Edmonton Oilers announced the superstar had signed an eight-year contract extension with the team.
Oilers captain Connor McDavid speaks with media after the Edmonton Oilers announced the superstar had signed an eight-year contract extension with the team. Cliff Harris/Global News
Oilers captain Connor McDavid shakes hands with vice-chair and CEO of the Oilers Entertainment Group Bob Nicholson after it was announced the superstar signed an eight-year contract extension with the team.
Oilers captain Connor McDavid shakes hands with vice-chair and CEO of the Oilers Entertainment Group Bob Nicholson after it was announced the superstar signed an eight-year contract extension with the team. Reid Wilkins/630 CHED