How much is this next contract going to cost?

When the Edmonton Oilers signed Ryan Nugent-Hopkins to his new seven-year contract extension I think most fans were pretty happy with the outcome. Or at least I was pretty happy with the outcome. That deal locked a third star forward into a long-term contract giving Edmonton cost certainty with their best players over the long term while providing the team enough cap flexibility to retain the rest of the talented players on the team and perhaps add a significant player or two.

It's a deal that likely puts some pressure on Nail Yakupov to sign a similar contract which I think is great for the team. On the downside it's possible that Justin Schultz's agent uses the deal to put pressure on the Oilers in contract negotiations. Schultz is often mentioned alongside these other young players and he may want his pay to reflect it especially if he puts together another season that sees him near the top of the leaderboard in scoring by a defenseman. The temptation to make things easy and equitable is something the Oilers must try to resist.

In my article on Nugent-Hopkins I estimated that Justin Schultz could be signed to an extension worth $4.5M. This valuation was challenged by one of our commenters Chabye who suggested that Schultz would be more expensive. In order to get an idea of whether or not my estimate was reasonable I decided to take a closer look at what it might cost to sign Schultz to an extension now.