According to NHL Insider Bob Stauffer, it appears that Draisaitl's representation are close to hammering out a deal, with Stan Bowman at the helm now.
On Edmonton's 630 CHED Radio station, Stauffer commented he'd been in touch with Draisaitl's agent former NHL goalie Mike Liut and the two sides have found term they agree on:
"a 7 or 8-year deal. It's probably going to be an 8-year deal realistically.»
There's been nothing official confirmed between the Oilers and Draisaitl but considering Bob Stauffer is a well-connected Oilers information resource, he wouldn't report misinformation.
For now, we will report more when this deal gains traction. If Draisaitl stays in Edmonton long-term, it bodes well for the team and Connor McDavid's future in Edmonton as well.