Could the Oilers and Canucks swap Evander Kane again?

The NHL rumor mill rarely rests and when it comes to the Edmonton Oilers, speculation about roster moves always runs hot. The latest discussion was sparked by analyst David Staples who floated the idea on his latest tweet that Edmonton may look to bring back Evander Kane only a few months after sending him to the Vancouver Canucks in a salary-shedding trade.

At first glance, the notion seems odd of course. Why would the Oilers cut ties with the forward in June only to pursue him again before the ink has even dried on the trade? But perhaps, there seems to be some substance where Staples is coming from.

When Kane was dealt to Vancouver in late June, the return -- a fourth-round draft pick, struck many as underwhelming. For a player of Kane’s pedigree, even factoring in his age and injuries a fourth-rounder seemed to undervalue his impact.

The move was widely read as a cap dump by Edmonton, who needed flexibility to keep their core of Connor McDavid, Leon Draisaitl and Evan Bouchard intact.

Evander Kane was not traded away due to performance

Speaking of Injury concerns, those sure marred his 2024-25 season. Multiple surgeries sidelined him for the entire regular campaign, leaving many to wonder whether he had reached the inevitable decline that comes for most players in their mid-30s.

But his return for the playoffs suggested otherwise. In 21 postseason games, Kane tallied 12 points (6 goals, 6 assists). Those numbers may not leap off the page, but given the context, a 34-year-old returning from hip, hernia and abdominal surgeries, it was a sign that his game still had substance. He played physically, created scoring chances and surely contributed to Edmonton’s deep run.

The season prior, 2023-24, was even more telling. Kane logged 77 games and scored 24 goals, while adding 44 assists. Those totals placed him in the reliable top-six forward tier and for $5.125 million, the Oilers were arguably getting fair value.

So, the Oilers weren’t necessarily moving on from Kane because of performance. It seemed that it had more to do with his cap hit for the final year of his contract weighed heavily on a team operating with little margin for error.

A reduced cap figure would work for the Oilers

On the one hand, Edmonton needs depth scoring and a physical presence on the wing, exactly what Kane brings. On the other hand, the team is constantly maneuvering around the hard salary cap and is forced to squeeze maximum efficiency out of every dollar.

If Edmonton were to revisit a deal for Kane, it would almost certainly depend on cost.

At his current $5.125 million hit, the Oilers can’t realistically absorb him. But if Kane were willing to sign an extension closer to say $3.5 million per year, suddenly the math begins to work. A reduced cap figure would possibly do justice enough to his advancing age while still rewarding his ability to contribute meaningfully.

The question then is perhaps for how long Kane can maintain his production. By the time his current contract expires, he will be 35 years old, an age when many power forwards decline sharply. Injuries, particularly those as severe as Kane’s often accelerate that process.

The risk for Edmonton is clear. Invest in a veteran whose durability is questionable and whose best years may be behind him. The reward, however, is equally compelling. Kane’s track record with the Oilers is strong and his chemistry with top players like McDavid is proven. In high stakes playoff hockey, his style of play has tangible value that can’t always be measured in box score numbers.

The idea of bringing back Kane is less about sentimentality and more about timing. The Oilers are in a win-now window with McDavid and Draisaitl entering their peak years. Every move is weighed against the chance of finally hoisting the Stanley Cup. If Kane at $3.5 million gives them another layer of scoring depth and grit, then the gamble might be worth it.

At the same time, the Oilers must balance short-term gain with long-term stability. Reacquiring Kane could tie up cap space that might be needed for younger ascending players.

David Staples’ speculation may not come with hard details but it does poke a fascinating possibility. For now it’s all conjecture, yes. But stranger reunions have happened. Kane has shown he still has something left in the tank and for a team forever chasing its Stanley Cup moment, Edmonton may be tempted to bet on a familiar face one more time.