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It's official.

The Edmonton Oilers have locked up their franchise centerpiece, Hart Trophy and Art Ross Trophy winner Connor McDavid, with an eight-year, $100 million contract, according to general manager Peter Chiarelli.

The news, relayed first by TSN's Bob McKenzie, comes a week after Sportsnet's Elliotte Friedman reported the 20-year-old forward was in line to average a record $13.25 million per season.

And it marks a relative bargain for Edmonton, which had to shed salary this offseason to accommodate new deals for McDavid and, perhaps soon, Leon Draisaitl. It ensures McDavid, the Oilers' 100-point man and an emerging face of the NHL, will be in town for the next nine seasons. McDavid, who also reeled in the Ted Lindsay Award in 2016-17, will average $12.5 million per year after the 2017-18 campaign.