Oilers Enter Free Agency Means Roster Move Coming – Hockey Writers – Edmonton Oilers

The Edmonton Oilers made significant progress on the first day of NHL free agency, but their best move has created a problem that could force the team to make tough decisions, possibly leading to a trade to remove someone from the active roster.

Jeff Jackson, CEO of the Oilers, acting as de facto general manager, has made a series of bold moves that have delighted fans. The Oilers re-signed key players Adam Henrique, Mattias Janmark, and Connor Brown while adding Viktor Arvidsson and Jeff Skinner (the latter two for $7 million). The team also made a smart draft pick, moving back into the first round without help. Jackson has done a great job and few would be upset if he keeps the GM job if these are the types of moves he is capable of making.

Henrique and others Return

Adam Henrique's return to Edmonton is particularly notable. Henrique signed a two-year contract worth $3 million per season, despite receiving offers from other teams. This commitment to winning is a testament to the culture the Oilers are building under Jackson's leadership. Henrique is probably not the only one who has left money on the table to join a club with championship ambitions.

With these additions, the Oilers have greatly strengthened their forward team. Henrique, Janmark, Brown, Arvidsson, and Skinner provide depth and scoring power that should get Edmonton back into the Stanley Cup conversation. Jonathan Willis of The Athletic praised the years, saying, “I'm not sure what other shoe is going to drop to make room for salary, but right now I don't care. The Oilers had a great day.”

Salary Cap Crunch

As good as this free agency move was, the Oilers' cap situation is now critical. The team is currently expected to have $2.5 million over the cap and 22 active players (13 forwards, 7 defensemen, and two goalies). This does not include restricted free agents Philip Broberg and Dylan Holloway, who have yet to sign new contracts. If both players were to accept their qualifying offers, the cap hit would be more than $4 million. They have to find a way to balance the books before the season starts.

Related: Oilers Sign Jeff Skinner and Viktor Arvidsson Bolsters Offensive Depth

Possible Solutions

To deal with this cap decrease, the Oilers have a few options:

1. Send Players Down: The team could send players like Derek Ryan, Troy Stecher, or Connor Brown to the minors. However, this may not free up enough space to accept the necessary contracts.
2. Trade: The most likely scenario involves trading a player to clear cap space. There has been speculation about the Oilers possibly asking Evander Kane to waive his no-trade clause, but Ryan Rishaug confirmed that this has not happened yet.
3. Long Term Injury Irreversible (LTIR): If a player starts the season on LTIR, his cap hit will not count against the cap. This may provide temporary relief but is not a long-term solution. Also, Kane's name has appeared in the rumor mill here in light of his spleen injury.

What Will the Oilers Do Moving Forward?

Although the Oilers are allowed to go 10% over the cap during the summer, they must comply with the rules set at the beginning of the season. This means they have time to go, but the pressure is still on to find a solution. Willis remains optimistic despite the challenges: “The Oilers had a good day. Their worst contracts were passing; their best to improve the team significantly or they are stuck in the profit achieved in a fixed period of time.”

In conclusion, while Jeff Jackson and the Oilers have made some impressive strides to strengthen their roster, the numbers don't currently work in terms of salary cap space. Something has to give, and it probably means a trade is imminent. The next few weeks will be crucial as the Oilers work to balance their books.

The good news is, the way things have played out so far, no one should be shocked if Jackson pulls off a move to open up space, and then adds another strong bet for less money.