5 takeaways from the beginning of free agency for the Oilers

2 of 3

We're essentially just a week removed from the Edmonton Oilers having their hearts ripped out, falling just short of the comeback to end all comebacks in the Stanley Cup Final. However, as per the oft-repeated saying, the show must go on.

In this respect, the Oilers -- like the rest of the NHL -- have been extremely busy since their season concluded. There's been a draft where they moved into position to select in the first round, making qualifying offers to their restricted free agents, and buying out Jack Campbell.

On top of this, there was the not so small matter of free agency, which began in earnest on Monday. As per Stephen Whyno and John Wawrow of the Associated Press, this resulted in a furry of activity that saw teams combine to commit to a record $1.12 billion in contracts.

As for the Oilers specifically, as we've already written, their marquee signing was arguably Viktor Arvidsson at a bargain price of two years and $8 million. However, let's now break down day one of free agency overall for the organisation, with our five takeaways:

1) A sneaky good signing

Of all the signings the Oilers have completed so far, we would contend Jeff Skinner is the most underrated one. In fact, at just $3 million for one season, we'd even argue he's one of the top underrated signings of NHL free agency full stop.

While Skinner hasn't always been the most consistent of players, overall he's still produced well enough during his 14 seasons in the NHL. He's an excellent skater with a terrific shot; he's good for around 30 goals per season, something which should easily be achievable given who he'll be playing alongside in Edmonton.

In this respect, it was only last season when the 32-year-old had a career year. He set single season highs of 47 assists, 82 total points and a +15 rating, along with a 60.5 Corsi For % in All Situations.

Skinner won the Calder Memorial Trophy in 2010-11 and is the youngest ever player to appear in the NHL All-Star Game. He does also hold the distinction of the most games in NHL history without a playoff appearance, but you'd like to think this drought will end in 2024-25.

2) Expected to leave but still a shame

As the season wound down, there was the reality that not everyone set to become a free agent -- unrestricted or restricted -- was guaranteed to return to the Oilers next season. Chief among these, were Warren Foegele and Vincent Dersharnais.

This came to pass on Monday, with Foegele agreeing to a three-year, $10.5 million deal with the Los Angeles Kings, and Desharnais signing for two years and $4 million with the Vancouver Canucks. Obviously it's a shame for Oilers fans, that neither player will be back in Edmonton next season.

Of the two though, we would contend that Foegele was the bigger loss, with 2023-24 easily representing his best season yet. He set a host of career highs including 41 points and 13:59 of average ice time, along with a 55.6 Corsi For % and 55.6 Fenwick For % in All Situations; he would go on to continue excelling during the playoffs, particularly during the Stanley Cup Final, where he produced five points in seven games.

In respect of Desharnais, we recently wrote about how he wasn't prepared to take a team-friendly deal to remain in Edmonton, and would likely test free agency. However, with his diminishing production versus Philip Broberg's growing contributions as the playoffs progressed, it became slightly easier for the Oilers to let the physical blue-liner move on to pastures news.

3) Putting the team ahead of personal gain

When speaking to the media at Wednesday's end of season presser, Adam Henrique talked about how there has been a shift in his priorities. How he was at a point where money was no longer number one, with him finally being so close to winning it all.

Henrique said he had enjoyed his time in Edmonton and everything seemed to allude to him taking less money to remain on a contender. On Monday, he proved he was a man of his word.

As per TSN's Ryan Rishaugh, Henrique agreed a two-year, $6 million deal to re-sign with the Oilers. With an average annual value of $3 million, it represented a drop of almost 50 percent from the $5.825 million he received per season on his last contract.

Another player willing to put the team ahead of any personal gain was fellow forward Corey Perry, who agreed a one-year deal worth $1.4 million, one season after signing a contract worth $4 million with the Chicago Blackhawks. Both Perry and Henrique proved their worth to the Oilers, particularly during the playoffs, and will once again help the team contend with their vast respective veteran savvy and experience.

4) From disappointment to positive re-signing

Harsh or not, there was a point last season when Connor Brown was almost considered enemy number one in Edmonton. Through 24 games he had produced just one point and after 54 games he had only five points -- all assists -- with a goal drought of 82 games dating back to March 2022.

it didn't help that Brown received a $3.225 million bonus after reaching 10 games, albeit this was the fault of the Oilers rather than him. In March he was named one of the 10 biggest disappointments of the 2023-24 season, by The Athletic.

However, throughout it all the 30-year-old remained one of the most popular players in the Oilers locker room and his teammates continued to offer their unwavering support. In one of the best redemption story arcs of the season, he turned it around towards the end of the regular season and particularly shone during the playoffs.

As a result, Brown went from being a certainty to not return to Edmonton next season, to being signed to a one-year, $1 million extension on Monday. It's more than deserved and if he can continue to play like he did in the final few months of the 2023-24 campaign, he will prove to be even more of a bargain deal for the Oilers.

5) Some financial manoeuvring to do

Ahead of the NHL entry draft and free agency, the Oilers appeared to be in an unenviable position. With 10 unrestricted and two restricted free agents to contend with and a projected cap space of just $10,033,333, it wasn't mission impossible per se, but it was sure as hell close.

Despite this precarious position, Jeff Jackson and the rest of the front office have managed to work wonders. They've so far been able to negotiate nine signings (as well as agreeing terms with another six non-roster players).

However, despite this miracle of sorts, as per Cap Friendly, the Oilers do now have a projected cap space of -$2,454,167 for next season. And this is still with two qualifying offers sitting on the table waiting to (hopefully) be accepted by Broberg and Dylan Holloway.

As such the Oilers still have work to do, which would explain why they're aiming to trade Evander Kane and get rid of his annual $5.125 million cap hit for the next two seasons. Along these lines Cody Ceci may also be another player the organisation try to move, with one season and $3.25 million remaining on his current contract.

Next. What could have been with Jack Campbell in Edmonton. What could have been with Jack Campbell in Edmonton. dark

Overall, it's tough not to be anything but impressed with how day one of free agency went for the Oilers, especially without a general manager running the show. While nothing can ever be taken for granted or assumed, the roster is already shaping up to be one which will once more contend for the Stanley Cup next season.