Connor McDavid signs $100M contract with the Oilers

Most 20-year-olds are ecstatic if they look at their bank account and see $100 sitting there.

Connor McDavid is definitely not one of those 20-year-olds.

The Ontario native signed his first contract extension on Wednesday and it’ll be the last one he signs for a long while.

The deal is worth $100 million over eight years, making it the third biggest contract in league history and the largest cap hit the NHL has ever seen at $12.5 million a year.

OFFICIAL! @cmcdavid97 signs an eight-year extension.

👉 https://t.co/sERBXDxhmX pic.twitter.com/lQS43Qqy7W

— NHL (@NHL) July 5, 2017

"I'm so excited to wear the Oilers' jersey for the next nine years," McDavid told the media on Wednesday. "I'm in it for the long haul. I want to win here."

The only two bigger deals were the 13-year, $124 million deal that Alexander Ovechkin signed in 2008 and the 14-year, $110 million deal that Shea Weber signed in 2012.

The previous highest cap hits were from a pair of teammates in Patrick Kane and Jonathan Toews who signed matching eight year, $84 million deals in 2014.

McDavid’s contract doesn’t come into effect until the 2018-2019 season, but when it does it’ll count for more than 15% of his team’s salary cap space.

It’s hard to argue against the deal, however, as McDavid has already established himself as a generational talent.

He led the league in scoring this season, posting 30 goals and 70 assists for 100 points, winning the Art Ross Trophy, the Hart Trophy and the Ted Lindsay Award.b

The Oilers will now look into locking up former Kelowna Rocket, Leon Draisaitl, to a long term deal as well.