Recently, rumors have been circulating that star forward Mikko Rantanen could land with the Edmonton Oilers in free agency if he does not re-sign with the Carolina Hurricanes. Andy Strickland, speaking on the Cam and Strick Podcast, claimed he has been hearing that “there’s a belief they can make it happen” from a salary cap perspective. Adding fuel to the speculation, Rantanen shares the same agent as Leon Draisaitl, leading some to believe a deal could materialize.
Andy Strickland has been hearing that if not re-signed by Carolina, Mikko Rantanen may be headed to the Edmonton Oilers in the offseason saying there’s “a belief they can make it happen” cap wise. Rantanen also shares the same agent as Leon Draisaitl.#letsgooilers #raiseup pic.twitter.com/6w40qi1g0H
— John Puck (@johnpuck1992) January 28, 2025
However, despite how enticing the thought of Rantanen in an Oilers jersey may be, this scenario remains highly unlikely. Even with the projected salary cap increase, Edmonton simply will not have the financial flexibility to offer Rantanen anything close to what he could command on the open market.
The Cap Reality
Rantanen, 28, is currently in the final year of his $9.25 million AAV contract and is poised for a massive payday. Given his consistent offensive production, which includes multiple 40+ goal seasons, he could easily demand a contract in the $12-14 million per year range, if not more. The Oilers, who already have Connor McDavid and Leon Draisaitl’s massive deals on the books, would need to clear significant cap space to even entertain the possibility of signing Rantanen.
To do so, they would likely have to move on from multiple key players, potentially including core pieces like Ryan Nugent-Hopkins, Evander Kane, or even Evan Bouchard—moves that are simply not realistic if Edmonton wants to maintain a competitive roster. Unlike teams with cap flexibility, the Oilers cannot afford to make an all-in splash like this without gutting their depth.
The Rantanen Trade and His Value
Adding to the complexity of this rumor is the fact that Rantanen was just traded to the Hurricanes in a blockbuster deal. The full trade details saw Carolina acquire both Rantanen and Taylor Hall, while Colorado received Martin Necas, Jack Drury, a 2025 second-round pick, and a 2026 fourth-round pick. The Chicago Blackhawks facilitated the deal by retaining 50% of Rantanen’s salary in exchange for a 2025 third-round pick.
Trade call underway now. Full deal:
— Frank Seravalli (@frank_seravalli) January 25, 2025
To #RaiseUp: Mikko Rantanen, Taylor Hall
To #GoAvsGo: Martin Necas, Jack Drury, 2025 2nd Round Pick, 2026 4th Round Pick (all from Carolina)
To #Blackhawks: 2025 3rd Round Pick (their own returned from Carolina), 50% of Rantanen’s salary
This trade not only demonstrated Rantanen’s value but also showed that Carolina is serious about contending. It is entirely possible that the Hurricanes will make every effort to extend Rantanen rather than risk losing him for nothing in free agency. If they don’t, there will be multiple teams with better cap situations than Edmonton ready to offer him top dollar.
While it’s fun to dream about elite players joining the Oilers, Rantanen-to-Edmonton is one rumor that Oilers fans should not put too much stock into. The financial logistics simply do not add up, and unless the Oilers undergo a major roster overhaul, there is little chance they could afford him. So, while the idea of adding another top-10 player in the NHL to McDavid and Draisaitl is exciting, the reality is that it is not a logical move. Fans should temper their expectations and focus on more realistic ways the Oilers can improve their roster.