Edmonton Oilers general manager Stan Bowman has been a busy man ever since he took over at the helm of Rogers Place last year.
He quickly locked up German star and Oilers' 2014 third overall selection, Leon Draisaitl. Inking him to a record breaking eight-year contract worth $112 million, a $14 million annual average value (AAV). He also kept star defenceman Evan Bouchard, signing him to a contract before he hit the market as a Restricted Free Agent (RFA) for four years worth $10.5 million per season.
He also was able to add plenty of depth to the lineup, acquiring forwards Vasily Podkolzin, Trent Frederic, and defenceman Jake Walman via trade and snagging forward Kasperi Kapanen off waivers last year. He has since locked up the former three to contract extensions, Walman most recently earning a seven-year contract worth $7 million AAV.
All of these contracts were important pieces of business for Bowman to help project his cap situation moving forward and to build a consistent team that should be able to keep the Stanley Cup contention window open for a long time. However, no deal was more important than locking up captain Connor McDavid to a two-year contract extension on Monday.
It was a massive hometown discount but there is no denying the immense pressure that it puts on Oilers brass. They now need to continue to stay competitive and hopefully win a cup by 2028 or risk losing their generational talent to the free agent market.
Upcoming salary cap situation
Heading into this upcoming off-season, the shorter term contracts for players like Bouchard allowed his AAV to come in lower than he could have signed. As well, McDavid signing a massive hometown discount with the Oilers gives them some real salary cap flexibility.
The team has also been able to line their depth with cheap rookies on entry-level contracts (ELCs) like Matt Savoie and Ike Howard. They have also added free agents in David Tomasek, Quinn Hutson, Atro Leppanen, Josh Samanski, and others.
NHL insider Elliotte Friedman on 32 Thoughts: The Podcast spoke about the rumours that the salary cap for next year could rise from the reported $104 million to $107 million. If this is true, it makes the Oilers cap situation even brighter.
This means that as the Oilers approach July 1st, 2026, they would have roughly $25.5 million in cap space as of right now (according to Puckpedia.com). On the roster, they would have 10/12 forwards under contract, 4/6 defencemen, and 0/2 goaltenders.
It is also important to note that of the 10 forwards and four defenders, they make up nearly their entire projected top-nine forwards and three top-four defencemen. These are some of the most important positions and can be quite costly to the cap in free agency or through trades. Having over $25 million to spend in free agency and in trades, gives the Oilers quite a bit of room to play with and can add some high end pieces.
Oilers continue to build a winning culture
If the Oilers are able to sign top pair defenceman Mattias Ekholm to a discout -- as has been reported -- it would be a massive help to the club to be able to supplement their roster and remain competitive. It would also speak well to the Oilers culture and as a hockey market that for years was deemed undesirable by many.
It is the thing that many pundits point to, the star players that take hometown discounts to keep their team's competitive. We will see if it pays off for the Oilers and for McDavid as they try to win a Stanley Cup.