Mattias Ekholm’s Next Contract: The High-Stakes Gamble the Oilers Can’t Afford to Lose

0 Sara Smith August 03, 2025

When the Edmonton Oilers acquired Mattias Ekholm, it was a clear signal they were all-in on winning a Stanley Cup. He stabilized the blue line and brought a veteran presence that was sorely needed. Now, with the 35-year-old defenseman heading into the final year of his contract, the Oilers’ front office is facing a monumental decision that could define their championship aspirations for the next several years. The latest Mattias Ekholm news isn’t about a trade, but about a crucial extension that feels both necessary and incredibly risky.

Let’s be blunt: handing out term to a player on the wrong side of 30, especially one with a recent injury history, is how GMs get fired. Ekholm’s play undeniably dipped after he was sidelined last season. That’s the red flag. But the green flag? Before that injury, he was arguably their most reliable defender. As Allan Mitchell of The Athletic correctly points out, the Oilers simply cannot ignore the glaring vulnerability on the left side of their defense.

The Price of Contention: Why a Shorter, Cheaper Deal for Ekholm is a Must

If Ekholm hits the open market next July, he’s gone. A contender will gladly give him a multi-year deal. But the Oilers aren’t the only ones with question marks; Jake Walman and Brett Kulak are also set to become UFAs, leaving a potential black hole on the back end. This is where the negotiation gets fascinating. From my sources, the belief is that the Oilers’ management understands they have no choice but to bring him back. The trick is finding the right number.

The Oilers’ Left-Side Defensive Puzzle

Ekholm currently carries a $6 million cap hit for the Oilers. He won’t get that again. The sweet spot is likely a two or three-year deal in the neighborhood of $5 million annually. This represents a pay cut for Ekholm but gives him security on a team that will be a perennial Stanley Cup favorite.

For the Oilers, it’s a calculated risk. They lock in a key defender for their current window without handcuffing their salary cap for too long. It’s a high-wire act, but if the Oilers intend to stay in the elite tier of the NHL, it’s a gamble they have to take.