According to Daniel Nugent-Bowman of the Athletic, Draisaitl's contract value will undoubtedly take a steep increase well above Nylander's contract. Nugent-Bowman spoke to an agent who doesn't represent either player, who said the floor for Draisaitl's contract will be $13M for 8 years.
Obviously, Draisaitl is a much more valuable player than Nylander. Aside from his much greater offensive production, he also plays a more premium position in center, while Nylander plays the wing. Although Draisaitl is one year older, he'll still command the full term and much higher AAV than Nylander, according to Nugent-Bowman and the anonymous agent.
Needless to say, the Oilers want to retain their second generational talent in Draisaitl, no matter the cost. However, giving him a near $5M raise along with another more expensive McDavid contract may cause the Oilers problems in trying to build around the team. Considering the existing contracts of Nurse, Kane, Ekholm, and Campbell, as well as considering new ones for McDavid and Bouchard - things could get real tight for Edmonton. Hopefully, the front office will be able to navigate the tight situation while still competing for the Stanley Cup.