Latest Connor McDavid Update Has Some Potentially Huge Implications for the Maple Leafs

Eligible to sign an extension for more than a month, Oilers captain Connor McDavid has been taking his time as he digests a second straight Stanley Cup Finals loss to the Florida Panthers.

As Oilers fans and management, as well as Leafs Nation await McDavid's decision, the Toronto native has remained busy. The 28-year-old has been seen playing in beer league games in his hometown of Newmarket, Ontario.

A couple of weeks ago, TSN's Chris Johnston revealed that neither side had engaged in dialogue towards coming to a resolution about McDavid's future, fueling speculation that he may depart after his contract expires at the end of next season.

On Tuesday, Daily Faceoff's Frank Seravalli appeared on Bleacher Report's 'The Notebook' and shared that while Johnston's previous update continues to be accurate, that the Oilers and McDavid are expected to engage in discussions at the beginning of August.

Seravalli went on to note that he expects McDavid to sign a three or four-year deal worth between $16M and $17.5M per season with the former first-overall pick being able to ask for a trade if things go South.

For the Leafs, who have positioned themselves very well to be a major player in free agency next year with a projected $24M in cap space, an extension for McDavid isn't the end of the world given the amount of talent that could be available come July 1st next off-season including Jack Eichel and Martin Necas.

Still, if McDavid opts to wait out this season and hear out teams next summer, the Leafs will have the opportunity to announce perhaps the biggest UFA signing of all time.