The recent offer sheet drama in the NHL has caused us to take a look back just two years ago to the offer sheets that shook up the Edmonton Oilers. It is an interesting issue that still to this day causes debate amongst Oilers fans and is something that will surely be debated until the players involved retire.
Shortly after the Oilers named Stan Bowman as the new general manager of their hockey club, the St. Louis Blues opted to take advantage of the fact that the Oilers had two restricted free agents left unsigned and submitted offer sheets on both Dylan Holloway and Philip Broberg.
Holloway's contract was signed for two years, carrying a $2.29 million cap hit, while Broberg also signed a two year contract worth $4.58 million. The Oilers chose not to match either contract and were rewarded a second and third round draft pick, along with a 2028 third round draft pick and prospect Paul Fischer as extra compensation.
The decision has blown up in the Oilers face
Two years out, this looks like the wrong decision as Broberg quickly blossomed into a top-four puck moving defenceman, logging well over 20 minutes per game most nights, averaging 23:21 this past season. Hollway has found plenty of success as well, scoring 48 goals and 66 assists for 114 points in 136 games since joining the Blues, playing like a first line power forward winger.
These are two players that every team could use and especially the Oilers, who could have refrained from spending even more assets on a player like Jake Walman had they kept Broberg. They also could have slotted Holloway alongside one of Connor McDavid or Leon Draisaitl and found a high end top six winger.
There was some logic behind Bowman's decision however, especially with Broberg who signed for over $4.5 million and had been unable to crack a consistent spot in their lineup. Holloway as well, had struggled to produce and was kept lower in the lineup and the club found a way to get compensation for them. If you can get assets for players who clearly are not valued enough by your organization, you may as well.
On the other hand, this argument does not hold up well under very little scrutiny and if anything is a further indictment on the Oilers' decision making. The team not only invested high draft picks in these players, selecting Broberg eighth overall and Holloway 14th, they also invested years of development. They should have known what they had and it is a bad look that this blew up so quickly in their face and pushes the narrative that the team needs to prioritize young players.
So, what if the Oilers chose to match the Holloway offer sheet? It is understandable that they may let Broberg walk, especially given the high salary cap compensation but the Holloway one is a lot less defensible because of the very modest salary.
What if Holloway remained with the Oilers?
It is very possible that Holloway's production looks different had he stayed in Edmonton. They had just went to the Stanley Cup Finals in 2024 and he played a bottom-six role, throwing his body around and scoring at a respectable but not eye-popping rate.
Especially with already established players such as Evander Kane and Zach Hyman occupying spots in the top-six and playing a physical style with scoring ability, Holloway may have been seen as redundant. However, it is also very likely that Bowman does not acquire Vasily Podkolzin if he chooses to keep Holloway and if that is the case, he could have taken that spot alongside Draisaitl.
If he does, he could have found chemistry and found a way to breakout offensively. He may have not scored at the same clip he has now but with him being a proven 20 goal scorer and nearing point-per-game this past year, it feels hard to believe that he would not have found a way. It is hard not to imagine if things may have went differently had the Oilers had a productive young player to give them a boost during their 2025 Stanley Cup Finals run. Especially with Hyman going down in the Western Conference Finals series.
As of now, the team would be entering into the 2026-27 season with the possibility of having three players under 25 in their top-nine with Holloway, Matt Savoie, and Isaac Howard. Unfortunately, the Oilers also would not have their prospect, Tommy Lafreniere. To add insult to injury, had the Oilers matched Broberg, they would have not had the second round pick that was used to acquire Trent Frederic. Especially given the physicality and scoring that Holloway brings, it is likely he never gets brought into the fold. Something that many Oilers fans are sure to love to hear.
There is also always the possibility that Holloway never earns the trust of former bench boss Kris Knoblauch and he becomes a trade chip or never breaks through. It is impossible to truly know but one can always wonder what could have been.
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