Lightning Return Sam O’Reilly To Juniors
Center Sam O’Reilly, the Lightning’s No. 1 prospect, is among the training camp cuts announced by the club today. He’ll return to the OHL’s London Knights for a third full season in the major junior ranks.
While there were some who believed O’Reilly could challenge for a nine-game trial with a strong training camp, an early return to juniors isn’t a huge surprise. The 19-year-old pivot was the last selection of the first round by the Oilers in last year’s draft, but Edmonton traded him to the Bolts in July in exchange for the signing rights to reigning Hobey Baker Award winner Isaac Howard.
Howard was previously Tampa’s top prospect, but a disagreement over the role he would play in 2025-26 led him to decide not to sign with the club – essentially forcing a trade unless they wanted to lose him for nothing in free agency next summer. O’Reilly was a shrewd consolation prize, albeit a younger one who needs a little more runway before he’s ready to make an NHL impact. The 6’1″, 190-lb pivot projects squarely as a bottom-six piece long-term. He’s a strong playmaker, registering 79 assists in 130 games for the Knights over the past few years, but his top calling cards are his physical involvement and defensive acumen.
That boosts his opportunities for making an NHL transition – unlike some young first-round talents, a fourth-line workload wouldn’t be detrimental to his development if that’s where he first lands upon cracking the Bolts’ roster. Nonetheless, more junior development isn’t the worst thing in the world to see if he can improve his offensive skillset as well and gain the tools necessary to push for a more sound middle-six role in Tampa long-term.
O’Reilly will be turning pro in 2026-27. Whether that’s because he cracks the NHL roster out of camp next fall or starts in AHL Syracuse remains to be seen. Assuming O’Reilly does not reach 10 NHL games this season – an overwhelmingly likely scenario given the early nature of today’s cut – his entry-level contract will slide for a second consecutive campaign. Tampa Bay will still owe him his $96K signing bonus. As a result, his ELC will carry a decreased cap hit of $900,333 when it does go into effect for 2026-27, down from its initial cap hit of $964K had O’Reilly been in the NHL since signing the deal with Edmonton back in October 2024. He’ll be a restricted free agent at age 23 in the 2029 offseason.
Lightning Acquire Sam O’Reilly From Oilers For Isaac Howard
In a late-night deal, the Tampa Bay Lightning and Edmonton Oilers are swapping recent first-round picks, as forward Sam O’Reilly is heading to the Lightning in exchange for forward Isaac Howard. Both teams have announced the deal. The Oilers also announced Howard has signed a three-year, entry-level contract beginning in 2025-26.
O’Reilly was selected 32nd overall by the Oilers in the 2024 NHL Draft and posted 28 goals, 71 points, and a plus-56 rating in 62 games for the OHL’s London Knights this past season. He added 22 points in 17 playoff games. In 135 career regular-season games with London, O’Reilly, 19, has scored 127 points to go along with 74 penalty minutes. A two-time OHL champion, the 6’1″, 190 center has added 34 playoff points through 33 games. More than just an offensive threat, O’Reilly has the potential, size, and physicality to also be a shutdown center.
Howard, selected 31st overall in the 2023 draft, spent the last two seasons at Michigan State University after transferring from the University of Minnesota-Duluth. Howard, a 5’11”, 190-pound left wing, took his game to the next level during the 2024-25 season, posting 26 goals and 52 points in 37 games. On a team that featured eight other players either drafted or signed by NHL clubs, he led the Spartans in scoring by 21 points and went on to win the Hobey Baker Award. In two seasons with Michigan State, Howard has produced 88 points and a plus-22 rating.
While O’Reilly may have the higher ceiling as a two-way player, Howard, 21, is closer to being NHL-ready. When Howard does make the jump to professional hockey, his sharp shooting ability and quick skating could make him an immediate fit in the Oilers’ already dangerous top six. Insider Frank Seravalli notes that the Oilers plan to have Howard in their opening night lineup this October.
Oilers Sign Sam O’Reilly To Entry-Level Deal
The Oilers have signed 2024 first-round pick Sam O’Reilly to a three-year, entry-level contract, per a team release. Financial terms weren’t disclosed.
A likely signing bonus in the deal this season will be a nice gift for O’Reilly, who stuck around on the training camp roster longer than most anticipated. The Oilers, who had traded away their first-round pick to the Ducks in last season’s Adam Henrique trade, swung a deal with the Flyers on draft day to move back into the first round at No. 32 overall.
Edmonton then proceeded to make O’Reilly, who doesn’t turn 19 until March, the last pick of the round. The 6’1″ center’s offensive totals didn’t jump off the page in his draft year on a stacked OHL London team, and they’re also not expected to if he cracks the NHL. He projects as a physical depth piece with strong defensive instincts, making him extremely projectable as the Oilers’ No. 3 or No. 4 center in a few years.
A Toronto native, O’Reilly has been slightly underwhelming out of the gate with London this season – as have most of his teammates. However, his two goals and three assists for five points in seven games are only tied for ninth on the team, and his -3 rating is tied for third-worst. It’s still far too early in his post-draft campaign to write him off, though. Allan Mitchell of The Athletic ranked O’Reilly as the No. 2 prospect in the Edmonton pipeline and their best up-and-coming forward piece over the summer. However, he’s been unseated from that role after they acquired 2022 ninth-overall pick Matthew Savoie from the Sabres.
O’Reilly is unlikely to play 10 NHL games this season, so expect his ELC to slide to the 2025-26 season. If he fails to hit 10 NHL GP next year, too, it’s eligible to slide again to 2026-27.