You realize you have to offersheet RFAs right? And if Edmonton decided to match, then has no choice in the matter.
Then McD can still refuse to sign if he really doesn't want to play for Edmonton. What do they do then?
Then he can either sit, which won't happen or he can ask for a trade, which the team will try to accommodate if they wish to. McDavid is Oilers property until he's 26 or 27 unless he demands a trade.
Eberle or Yakupov would be on waivers before they let McDavid walk for any package of mere draft picks.
tp71 was right from the start. If McDavid signs an offer sheet and Edmonton matches it, then he is now under contract to Edmonton. No choice in the matter.
That is how offer sheets work. If signed, the player has essentially accepted the terms of the contract, the only thing up in the air is whether it is with the new team or the old.
And since Connor already signed his ELC (meaning he can't take the Blake Wheeler off-ramp) the only ways out of Edmonton are:
1) Via trade. (practically impossible)
2) If Edmonton doesn't match an offer sheet 3 years from now (highly unlikely)
3) Signing somewhere else after he hits free agency. (at least 7 years away)