How Can The Edmonton Oilers Clear Cap Space This Summer?

The Edmonton Oilers are going to need some cap space in order to make the roster moves necessary to make the club a contender by next season.

Edmonton Oilers: Doing so won’t be an easy task for whoever ends up being apart of the new management team and is going to take a unique strategy to be successful.

The Edmonton Oilers have reportedly shortened their GM search to under ten names. There is no doubt that every single one of these candidates will be presenting their proposed ‘blueprint’ of how to create cap space to be able to add that much needed top 6 wingers into this Oilers lineup.

Obviously, there will be a plethora of other questions thrown the potential GM candidate’s way. But with the cap trouble faced by the Oilers, while still having a massive need to still add to the roster, this ‘blueprint’ proposed by potential GM’s may prove to be the most important in them landing employment.

So let’s take a look at some of the (limited) options the Oilers have to open up some much-needed cap space this summer.

The Options

First, I believe the Edmonton Oilers will have to decide to move one of Kris Russel or Andrej Sekera EVEN IF the team has to retain cap to make it happen. The team has been 6-1-2 since Sekera has returned to the lineup so if he continues to look solid for the last 16 games of the season, Russel might be the one to go.

Now, I love Russel and everything he emulates as a hockey player, but 4 million is just too much for this team to stomach right now. And I believe Caleb Jones will be ready to take on a full-time 3rd pairing spot on the left side next season.

Considering Russel will only have two years remaining after this summer, I think the Oilers should be able to move him without having to retain, and might even be able to get an asset in return from the right team. But if they do have to maintain, it’s only on the books for two years.

Next, I would be looking to move Matt Benning. There were reportedly a few deals that came close at the trade deadline but ultimately fell apart. However, after this summer Benning is only going to have one-year remaining, making him a much easier asset to move.

At the deadline, we saw Buffalo move Nathan Beaulieu, who plays in a very similar role as Benning and has a slightly higher cap hit at 2,400,000. But since Beaulieu only had one year remaining on his contract before becoming an RFA he was easier to move since teams felt less committed to the asset.

Looking Closer at Matt Benning

I think Benning has a ton of upside to selling other teams on and should be a smooth move to make this offseason.

Just a side note: If there is any traction behind the Oilers and Toronto making a deal with Connor Brown and Benning as the centerpieces, I’d be all over it.

Now the easy parts, which is watching Alex Petrovic and Tobias Rieder walk in free agency, an automatic close to 4 million cleared without having to do anything. I’d still look into maybe bringing Rieder back at a smaller cap hit, he is a useful penalty killer and wouldn’t hurt to have on the fourth line. That’s if he’s even open to that.

Then apparently the team has to look into moving Brandon Manning. Maybe you can dangle a late round pick to a team like the Ottawa Senators who are desperate to fill roster spots anyways.

Honestly, the team is projected to have well below the cap floor committed in salary next season, so it might even take anything for them to take Manning from us. Nonetheless, if a trade isn’t available, burying his contract in the minors might be the best option.

The Name Not Mentioned

You may have noticed I didn’t mention one name, in particular, Milan Lucic.

The reason is that at a 6 million dollar cap hit and five years remaining on his massive contract; I feel the price to move him this summer will be too much to swallow for a team that needs to be using its assets to bring in players to its roster.

I feel the best time to move Lucic will be to package him with a first round pick at the 2021 Seattle Expansion Draft. By this time Lucic will only have two years remaining on his contract, and the Oilers should be competitive enough that the pick will be later in the first round.

Also, having Seattle take Lucic might also help protect a valuable asset on the team from being exposed and received in the draft. Seattle is close to Lucic’s hometown, and it’s clear he’d like to move on so I believe he would waive his no-trade clause for the Oilers to expose him.