Edmonton Oilers closing in on long term contract extension

Reports surfaced earlier this week from NHL insider Elliotte Friedman that the two parties were close to a new long term deal, and now it seems to be closer with further reports.

Dan Powers of the Empty Netters Podcast is now the latest NHL insider to report Frederic is nearing a long contract with the Edmonton Oilers.

The 27 year old forward has been playing through a suspected high ankle sprain since being acquired by the Boston Bruins, and it's seriously restricted how effective he can be during this playoffs. If Edmonton is offering a 7 year contract, they're doubling down that he can be much better next year when healthy.

They could be employing a new strategy of contract to keep salaries low by extending the term of a deal. Frederic could potentially earn up to $4M on a short term contract, but extending to 7 or 8 years could bring the AAV down to under $3.5M. Tampa Bay has done this with Nick Paul and Yanni Gourde's recent contracts.

With the rising salary cap, having a cheap third line center locked down for the foreseeable future could be a great move for the Oilers.

Hopefully the Oilers are able to get the deal done, and they're right that Frederic will be able to bounce back next season fully healthy and be a key piece of this team for the long term.