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Mikko Koskinen

Salary Cap Deep Dive: Edmonton Oilers

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Navigating the salary cap is one of the more important tasks for any GM. Teams that can avert total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful. Those that don’t see struggles and front office changes.

PHR will look at every NHL team and give a thorough look at their cap situation heading into the 2019-20 season. This will focus more on those players who are integral parts of the roster versus those who may find themselves shuttling between the AHL and NHL. All cap figures are courtesy of CapFriendly.

Edmonton Oilers

Current Cap Hit: $79,066,999 (under the $81.5MM Upper Limit)

Entry-Level Contracts

F Joakim Nygard (one year, $925K)
F Cooper Marody (two years, $925K)
F Kailer Yamamoto (two years, $894K)
D Evan Bouchard (three years, $894K)
F Tyler Benson (two years, $808K)
D Caleb Jones (one year, $720K)
D Ethan Bear (one year, $720K)

Potential Bonuses

Bouchard: $850K
Yamamoto: $230K
Marody: $75K
Jones: $70K
Bear: $20K

The team have a number of young players on entry-level deals, but so far while there is a ton of potential here, not one player has stepped up and established themselves as a full-time player on the Oilers roster. Yamamoto, the team’s 2017 first-rounder, was expected to provide the speed that the team needed to develop a fast-paced offense, but after 26 NHL games, he’s provided just one goal and four assists. Marody has appeared in six games with no points, while Benson, despite quite a bit of success in the AHL, hasn’t gotten a chance at the NHL level, although that’s likely to change this season. The team also has high hopes in Nygard, who is a speedy winger, who is coming off a 21-goal campaign in the SHL, but remains a mystery.

On defense, the team might get their 2018 first-round pick, Evan Bouchard, to make the team and contribute quickly, but he also must prove to the team that he’s ready for that opportunity. However, Bouchard already has seven games of experience with the Oilers (scoring one goal), while posting three goals and eight points for the Bakersfield Condors of the AHL in eight playoff games. Other defenseman might also be ready, including Bear and Jones. Bear has played two seasons now in the AHL, while Jones got 17 games with the Oilers last season and might be the most NHL-ready.

One Year Remaining, Non-Entry-Level

D Darnell Nurse ($3.2MM, RFA)
F Sam Gagner ($3.15MM, UFA)
D Brandon Manning ($2.25MM, UFA)
G Mike Smith ($1MM, UFA)
F Zack Kassian ($1.95MM, UFA)
D Matt Benning (1.9MM, RFA)
F Markus Granlund ($1.3MM, UFA)
F Kyle Brodziak ($1.15MM, UFA)
F Josh Archibald ($1MM, UFA)
D Joel Persson ($1MM, RFA)
F Tomas Jurco ($750K, UFA)
F Colby Cave ($675K, RFA)

The bulk of the Oilers contracts seem to be one-year deals, which means that many players will have to prove to the Edmonton front office that they deserve a new contract. The team will likely unload the contracts of both Gagner and Manning after this season, which should free up $5.4MM of cap space. The Oilers traded for the veteran Gagner near the trade deadline and he contributed five goals and 10 points in 25 games for Edmonton, but he likely will take a bottom-line role with Oilers this season, while Manning has never been a good fit after being acquired from the Blackhawks in December last season. Smith is another veteran the Oilers have high hopes for, but the team will reassess its goaltending situation at the end of the year and whether to bring the then 38-year-old back for another season. The same can be said for players like Archibald, Granlund and Jurco.

The team will have pay up next season for Nurse, a restricted free agent, who put up career-high numbers last season with the Oilers. The 24-year-old put up 10 goals and 41 points and averaged 23:49 of time on the ice. He also blocked 146 shots, while adding 162 hits as well, making him a solid all-around player despite seeing his plus-minus drop from a plus-15 in 2017-18 to a minus-five last year. The team must decide whether to keep Benning, who will also be a restricted free agent. Benning saw his playing time drop by almost three minutes since the previous year and might lose his job to some of the team’s young defensive prospects.

The team also have a number of veteran players, who will hit unrestricted free agency, including Kassian, who saw career highs in ATOI (14:48) and goals (15) and also put up 191 hits as a bottom-line forward for the team. At 28, he could be considered an important keeper for the Oilers. Unfortunately, Brodziak’s success in Edmonton wasn’t as impressive as the veteran center averaged just 11:42 of ATOI, while scoring career low six goals and nine points.

Two Years Remaining

F Ryan Nugent-Hopkins ($6MM, UFA)
D Adam Larsson ($4.17MM, UFA)
D Kris Russell ($4MM, UFA)
F Alex Chiasson ($2.15MM, UFA)
F Jujhar Khaira ($1.2MM, RFA)

This could be an interesting year for Nugent-Hopkins, who has always been an excellent defensive player, but now has established himself as a solid offensive player as well with a career-high 28 goals and 69 points. However with his contract coming up in two years, the Oilers might want to decide whether he is worth handing a long-term, expensive deal to. If they aren’t ready to lock him up, the Oilers might get the most value for Nugent-Hopkins at the trade deadlines. After all, top-six centers rarely come available and considering that any team that trades for him automatically gets another full season out of him, he might become quite a valuable trade chip.

The Oilers must also decide what they want to do with two of their highly-paid defensemen in Larsson and Russell. Both blueliners receive more than 20 minutes a night, but neither provides much offensive talent and haven’t been that helpful lately on defense either and between the two of them, the Oilers are giving them $8.17MM. Larsson put up comparable offensive numbers last year, but saw his defensive numbers drop as his minus-28 plus-minus was his lowest in his career by far. Russell also had comparable numbers from the last couple of years and kept his plus-minus in the positive, but the team may look to find a taker for either of them at the trade deadline.

Chiasson earned his two-year deal after posting a career-high 22 goals last season after winning a job in training camp on a PTO. The team hopes that the 28-year-old can duplicate that season. Khaira scored just three goals last season and will have to prove that he belongs on the roster next season.

Three Years Remaining

G Mikko Koskinen ($4.5MM, UFA)

Edmonton surprised many when former general manager Peter Chiarelli signed Koskinen to a three-year, $13.5MM extension last season despite a small sample size as an NHL goaltender. Koskinen didn’t fare that well in the second half of the season after signing the extension, putting up a 3.07 GAA and a .902 save percentage, which could make this a rocky relationship if Koskinen can’t prove to Edmonton that he is a No. 1 goaltender. The 31-year-old goaltender has spent most of his career in the KHL and may not be the answer that the Oilers were hoping for.

Four Or More Years Remaining

F Connor McDavid ($12.5MM through 2025-26)
F Leon Draisaitl ($8.5MM through 2024-25)
F James Neal ($5.75MM through 2022-23)
D Oscar Klefbom ($4.17MM through 2022-23)

The team has a couple of stud players in McDavid and Draisaitl and most would suggest that they are worth their contracts and they might even be bargains considering how well they were playing. Both have proven to be top-line players and they both broke the 100-point barrier last season and combining for 91 goals. The fact that both are locked up for at least another six years (seven for McDavid) shows that Edmonton already has a base of two franchise players and just need to fill out the rest of their roster with solid players who can fill out the rest of the team.

Neal is an interesting gamble by new general manager Ken Holland. The team was looking for a way to unload the untradeable contract of Milan Lucic, but managed to get the long-term deal of Neal, who is coming off 10 straight seasons of 20 goals or more, before his seven-goal performance last year in Calgary. The team hopes that the 31-year-old can prove that last year’s egg was just a fluke and the veteran can bounce back and provide some scoring on the wing for a team that really needs it.

Klefbom is another interesting defenseman, who the team hopes can improve, especially offensively. The 26-year-old managed 38 points back in the 2016-17 season, but has hasn’t been able to break 30 points since then. While his minutes are impressive, Edmonton needs to get more from one of their defensemen, who they signed assuming he would develop into a top-line defender.

Buyouts

D Andrej Sekera ($2.5MM in 2019-20 & 2020-21; $1.5MM in 2021-22 and 2022-23)
F Benoit Pouliot ($1.33MM per year through 2020-21)
D Eric Gryba ($300K in 2019-20)

Retained Salary Transactions

F Milan Lucic ($750K per year through 2022-23)

Still To Sign

F Jesse Puljujarvi

Much has already been written about the impasse between the Oilers and Puljujarvi, who has demanded to be traded because he believes he can’t become a top forward in Edmonton. Holland has received no viable offers from other NHL teams and it looks likely that Puljujarvi might have to stay overseas for a season and hope that he can develop his game overseas with Karpat of the Finnish League and come back in a year with a new sense of purpose. However, nothing has happened yet and there’s always a possibility that he opts to come back to Edmonton and tries it again. The only problem: he’s not waiver exempt anymore, meaning he must stay on Edmonton’s roster or be placed on waivers and undoubtedly would be claimed by another team.

Best Value: Draisaitl
Worst Value: Koskinen

Looking Ahead

The team has its franchise players and with plenty of cap space freeing up next season, the team might have a way to add even more talent. However, what Edmonton needs more than anything is to see some of their young talent take that next step and begin making some major improvements. The Oilers have a dearth of talent on defense that should slowly be trickling in over the next few years, but more than anything Edmonton needs scoring. While McDavid and Draisaitl cost the franchise a great deal, the team must find the wingers that can get the team back into the playoffs.

Photo courtesy of USA Today Sports Images.

Oilers Notes: Offseason Plans, Nugent-Hopkins, Koskinen, Petrovic

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Despite quite a bit of struggles over the past couple of years, the Edmonton Oilers didn’t make a significant amount of changes this offseason. Sure, the team did acquire James Neal in a swap of bad contracts, sending off Milan Lucic, but little else was done. Much of that could be due to new general manager Ken Holland who wants to see more of his team before trading pieces away carelessly.

The Athletic’s Allan Mitchell (subscription required) writes that Holland should be quite busy over the next seven months as there are plenty of opportunities to upgrade. One obvious option is to pick up a free agent or two before training camp begins. The team already signed forward Josh Archibald a few weeks ago, but could add even more talent to their bottom-six. There are several significant names still available, including Derick Brassard, Thomas Vanek, Riley Sheahan, Magnus Paajarvi and Oscar Lindberg all as possibilities.

Mitchell also points out the Oilers could look to signing some players to PTO’s as well. The team got lucky last year when it signed Alex Chiasson to a PTO and eventually signed him as he scored 22 goals last season in a breakout campaign. There are a number of interesting players out there as well that might be willing to sign a PTO, including Valeri Nichushkin, Dmitrij Jaskin and Nicolas Kerdiles.

  • In the same article, Mitchell also notes that the team could find itself shopping a pair of their own players at the trade deadline as both Ryan Nugent-Hopkins and Adam Larsson will be free agents after the 2020-21 season. If the team has little interest in handing either of them long-term deals, Holland might be better served trading them in February if the team is out of the playoff race, giving a buyer a chance to get a player who can help for their playoff run, but also a full year next season. The 26-year-old Nugent-Hopkins is coming off a career-high 28 goals and 69 points last season and could generate a solid return if the Oilers opted to move him at the trade deadline. Larsson, also 26, struggled last season with a minus-28 rating, but could still prove to be a solid defensive depth addition to a playoff team.
  • While Mikko Koskinen is being paid more than twice the amount of veteran backup Mike Smith, new head coach Dave Tippett says that he intends to split the minutes up between his two goaltenders equally, according to Edmonton Journal’s Derek Van Diest. The 31-year-old Koskinen was originally signed to take over full-time duties last season and will begin the first year of a three-year, $13.5MM deal, but still hasn’t proven to the team, fans or coaching that he deserves to be the team’s No. 1. “I hope they both play a similar amount of games and they’re both really good every one of them,” Tippett said at the Sixth Annual Mark Spector Golf Classic at the Quarry Golf Course on Wednesday. “Last year, I thought Koskinen looked tired. If you watch the last 20 games, he played a lot and mentally and physically, he looked tired.”
  • Former Edmonton Oilers defenseman Alexander Petrovic remains unsigned, but the Edmonton Journal’s Jim Matheson writes that he’s heard that there is interest from the rival Calgary Flames for the blue liner. The team could look to add a veteran depth defenseman like Petrovic, who just bought out Michael Stone. Petrovic, acquired in December from Florida for Chris Wideman and a 2019 third-round pick, played just nine games for the Oilers, posting a minus-seven in that time.

Mike Smith Signs With Edmonton Oilers

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The Edmonton Oilers have signed veteran goaltender Mike Smith on the first day of free agency. Smith will earn $2MM on a one-year contract

With Mikko Koskinen under contract as their 1A, the Oilers have been looking for a 1B option in goal, but with little money to spend and quite a few holes to fill, the team didn’t have the option of signing one of the high-priced goalies on the market. While Smith has been a solid goaltender in previous years and was even an all-star in the 2017-18 season, the 37-year-old has declined more recently. He appeared in 42 games last season, but saw his save percentage drop below .900 for the first time since the 2010-11 season as he finished the year with at .898. However, the team hopes that Smith can rebound while sharing the net with Koskinen.

Smith would replace Cam Talbot, who was reported earlier today as likely to sign with Calgary, who served as the backup in Edmonton last year until the team traded him to Philadelphia. The Oilers picked up Anthony Stolarz in the deal, but didn’t show much interest in bringing him back. Smith should provide some stability next to Koskinen, who the team locked up to a three-year, $13.5MM deal earlier this year.

Goalie Notes: Binnington, Carolina, Edmonton

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Jordan Binnington has been a revelation for the St. Louis Blues this season. A 25-year-old rookie who didn’t make his first NHL start until January, Binnington somehow managed to record 24 wins, a .927 save percentage, and a league-leading 1.89 GAA this season and has led the Blues to the Western Conference Final thus far in these playoffs. Binnington will be 26 before next season and has just 33 career appearances, yet he is a Calder Trophy candidate and undeniably St. Louis’ MVP in this amazing turnaround season. So how do you compensate a season like this? The Hockey News’ Matt Larkin wondered the same thing and explored three comparable contracts that the Blues may explore this off-season. The first belongs to a player with many similarities to Binnington, NHL journeyman Andrew Hammond. Hammond’s breakout season with the Ottawa Senators in 2015 was even more impressive than Binnington’s, that is until he lost his job to a healthy Craig Anderson in the postseason. A 26-year-old “prospect” with only 24 NHL appearances to his name, Hammond received just $1.35MM per year over three years from the Senators following his big season. However, Larkin points out that Hammond was not expected to be the starter in Ottawa, whereas Binnington is undoubtedly going to begin next season ahead of Jake Allen on the Blues’ depth chart. He also notes that Binnington has arbitration rights this season and no reasonable arbitrator would be convinced that Binnington is worth an equivalent contract to Hammond’s, which would only be about a $1.5MM AAV. On the other end of the spectrum, Larkin uses Winnipeg Jets’ starter Connor Hellebuyck as an example. Hellebuyck, another older prospect out of UMass – Lowell, Hellebuyck joined the Jets in 2015-16 at age 22 as the backup, struggled the next year as the part-time starter, and then had a breakout campaign last year in the final season of his entry-level contract. Winnipeg responded with a six-year deal worth more than $6MM annually for Hellebuyck. However, by the time he signed his extension, Hellebuyck had played in 149 games over three seasons, a much larger sample size than Binnington’s. He was also younger and entered the NHL with far great expectations compared to Binnington’s relative obscurity through a long AHL career. Thus, Hellebuyck also fails to be a convincing comparison for Binnington. Larkin finally settles on the Pittsburgh Penguins’ Matt Murray. Murray also came out of nowhere as a rookie, albeit a 21-year-old rookie, to start 13 games down the stretch and then lead the Penguins to a Stanley Cup behind a stellar postseason. Despite Murray’s lack of NHL experience, the Penguins had seen enough to reward their young keeper with a three-year extension worth $3.75MM per year. While Binnington is significantly older and a less heralded prospect, he has a larger sample size and slightly better regular season numbers than Murray, making the deal a fair comparison. Under the current salary cap, which is likely to increase this summer, Murray’s deal would equate to about a $4.25MM AAV for Binnington. So what should Blues fans expect in a Binnington extension? The safe bet is somewhere between three and four years at $4-4.5MM per year, but a Stanley Cup title could still push that value even higher for the breakout keeper.

  • According to Shawn P. Roarke of NHL.com, Carolina Hurricanes head coach Rod Brind’Amour says there is a “pretty good chance” he goes back to Curtis McElhinney in net for an elimination Game Four against the Boston Bruins on Thursday. McElhinney has played well this postseason in relief of Petr Mrazek, including in Game Three. McElhinney made 29 saves and allowed just two goals on Tuesday night after Mrazek surrendered ten goals combined in Games One and Two. At this point, McElhinney does seem to give the Hurricanes the best chance to win against Boston, but is there more at stake here? Whether McElhinney or Mrazek are in net, the odds of Carolina winning Game Four are slim and the chances they win four in a row to advance are much, much worse. When the ’Canes are inevitably eliminated, they face a reality of both Mrazek and McElhinney being unrestricted free agents. If forced to choose between the two, one would certainly think that the team would prefer to bring back Mrazek, who outplayed McElhinney this season – and is nine years younger. However, they take the risk in going back to McElhinney, who lost nevertheless in Game Three, that Mrazek no longer feels like the top option in Carolina and looks for other opportunities on the open market. After a strong season, the Hurricanes can’t afford a downgrade in net, so unless they are open to spending more on a free agent upgrade to Mrazek – a Robin Lehner or Semyon Varlamov for example – they’ll need to be careful with how the approach his confidence as this playoff run winds down.
  • Is new Edmonton Oilers GM Ken Holland happy to enter next season with Mikko Koskinen and (Group 6 free agent) Anthony Stolarz in net? If not, he could have a hard time attracting free agents and might instead look to his old team for help. Steve Yzerman may also want to bring in fresh blood in Detroit, but the Red Wings are locked in to Jimmy Howard and Jonathan Bernier next season to the tune of $7MM. The ink is still drying on Howard’s extension with the team and his loyalty likely lies more with the city of Detroit than with Holland. After a nice season, it would be a surprise for Howard to be dealt away. However, Yzerman will likely be willing to move the disappointing Bernier and Holland would seemingly be interested. After all, it was Holland who signed the journeyman to a three-year, $9MM contract just last summer. He very well may feel that Bernier can still live up to that contract, even after a poor first season with the Red Wings. It would not come as much of a surprise if Bernier outperforms Koskinen next season, so if Holland can re-acquire the veteran net minder on the cheap, it could make sense for the Oilers.

Oilers Notes: Chiasson, Goaltending, Free Agent Target

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Despite their decision to hold onto him at the trade deadline, the Oilers have yet to engage in any discussions regarding a contract extension for winger Alex Chiasson, reports Sportsnet’s Elliotte Friedman.  The 28-year-old is in the midst of a career season with 20 goals and 13 assists in 64 games and has provided Edmonton with some much-needed secondary scoring.  While it’s certainly possible that the team is waiting until a new GM is hired before commencing negotiations, interim GM Keith Gretzky has the green light to make personnel decisions like this.  While a 20-goal scorer could typically stand to land a nice deal on the open market, the fact that Chiasson has bounced around as of late will lower his value somewhat and may make him more open to signing a reasonable extension if the team decides to open up discussions.

More from Edmonton:

  • Despite his recent struggles, Mikko Koskinen is expected to remain the starter moving forward, per a TSN report. While that in itself isn’t entirely noteworthy, it will, however, make it difficult for the Oilers to retain Anthony Stolarz’s rights as a restricted free agent.  He needed to play at least 30 minutes in 10 games following his acquisition from Philadelphia to avoid unrestricted free agency.  Tuesday’s relief appearance was only his third and with only nine games left, it will be difficult for the team to get Stolarz seven more games with that much playing time if they intend to keep Koskinen as the starter.
  • Postmedia’s Jim Matheson believes that Edmonton will likely take a run at signing winger Daniel Carr this summer. The Alberta native signed with Vegas last summer in the hopes of finding a more permanent NHL role but has played only six games with the big club.  Instead, he leads the AHL in scoring with 71 points in 52 games and with the Oilers in need of cheap offensive-minded wingers, it appears that Carr could be a natural fit.

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