The injury does not require surgery, and McDavid is expected to be ready for training camp in September, according to the source. The diagnosis was first reported Saturday by TSN.
The Oilers released a vague statement Friday, saying: "the Oilers medical staff, in collaboration with top orthopedic specialists, have determined a rehabilitation protocol for Connor McDavid, which will begin immediately."
The injury occurred in an April 6 game against the Calgary Flames. McDavid was driving toward the net when he got tangled with Flames defenseman Mark Giordano and crashed into the goalpost legs-first.
Though the team initially feared a broken leg, X-rays revealed there was no break. McDavid then went for an MRI and second opinion. McDavid will not compete for Team Canada in next month's World Championships.
The 22-year-old, a candidate for league MVP, is coming off his third-straight 100-plus point season, matching his career-high with 41 goals and setting a new high with 116 points. The Oilers, however, missed the playoffs for the 12th time in 13 seasons.