The Edmonton Oilers have placed goaltender Jack Campbell on unconditional waivers prior to a buyout. Jason Gregor, who first explored a trade before taking this route, wrote, “They had talked to teams about a trade but didn't want to add assets to make it happen. The buyout will free up $3.9 million in cap space this year.”
That begs the question of how Edmonton will spend their $3.9 million in cap space. The Oilers are a team that sees itself as having a chance to win a championship right now, so they'll spend the money. The question is where and what to spend it on. I think it'll be a combination of a few factors.
Sign an in-house UFA
Jeff Jackson said the Oilers are looking to sign all of their unrestricted free agents. It may seem unlikely, but it seems inevitable that at least one or two players will leave the team. But Jackson acknowledged that he would like to bring everyone back. Edmonton will have some cap space after acquiring Campbell, so Jackson will have an easier time finding the money to make some more deals.
The priorities will likely be Connor Brown, Mattias Janmark, Corey Perry, Adam Henrique, Warren Vogel and Vincent Desharnais (in that order), with the plan being to acquire each player on the best terms possible for the team.
Calvin Pickard already has a contract extension, and an additional deal could be signed as early as Sunday afternoon. Some of these players will return to the Oilers after testing the market. Others may receive better offers than the Oilers can afford and sign elsewhere. The latter will dictate where the money goes next.
Find a good deal in free agency
The Oilers will be in the market looking for players who fit at low cost or who can sign with valuable contracts after leaving the team. Players like Jeff Skinner, Adam Boqvist, Cam Atkinson and Nate Schmidt have all had their contracts bought out. Other players were ineligible by their respective teams and became free agents. Alex Nielunder, Jake Bean and Erik Brännstrom are players who need new teams. I'm not saying any of them are destined for Edmonton, but could these players have their eye on a team like the Oilers?
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On the other hand, what about players like Connor McDavid and Leon Draisaitl, who the Oilers recognize as elite-level talents to employ? These players may look around the market and eventually find an opportunity to add value in 2025-26 on a short-term deal with a Cup-contending team. This happens every offseason, and if the Oilers look on the market for players like this, they could potentially get a deal.
Can the Oilers get at least one big shot?
The cap savings will no doubt be used to acquire as many players as possible for the team at a low cost. But will the Oilers make moves to sign or trade for higher-end targets that wouldn't be an option without the additional savings heading into next season? The cap savings will be highest in the first year, with $3.9 million to be spent. If the Oilers find a top-six forward or a top-four upgrade on the defensive line, this season would be the time to spend it.
It's unclear who the Oilers have their eye on. The team has hinted at smaller moves, but Jackson has expressed a desire to add depth, meaning he's on the lookout for difference-maker players. This doesn't include big names like Jake Guenzel, Nikita Zadorov, Elias Lindholm or Patrick Kane. But what about guys like Jake DeBrusk or Tyler Tforis?
