Grading Oilers’ 1-Year Deal for Frederik Andersen

The Edmonton Oilers have been looking for a starting goaltender that can help them win a Stanley Cup for a long time since they drafted Connor McDavid. While they have had some solid goalies in Mike Smith, Cam Talbot, and Connor Ingram between the pipes over the years, nobody has been able to bring them their first Stanley Cup since 1990.

In a bit of a surprise move, the Oilers announced they had signed reigning Stanley Cup winning goaltender Frederik Andersen to a one-year deal. That move was announced just hours after they had acquired Devon Levi from the Buffalo Sabres. Presumably, they will run a three goalie system of Andersen, Levi, and Tristan Jarry next season.

This move proved the Oilers are trying to do whatever it takes to finally help their current core win a Stanley Cup. After McDavid took a pay cut to remain with the Oilers, it became clear they had to spend their money wisely, and it seems as though they have done exactly that this offseason, so far.

Oilers Finally Have Goaltending Stability

At first, my reaction to the Andersen signing was that it seemed like a rough signing, especially if the term or cap hit were too high. However, his cap hit comes in at a very cheap $1 million, with a $2.8 million average annual value which comes from potential bonuses.

The #LetsGoOilers signed 36 y/o G Freddie Andersen to 1 year deal

Salary $1M
Perf Bonuses $1.8M: $600K @ 10GP, 400K @ 20GP, $200K for each playoff round won where he plays 50% of games)

Cap Hit $1M, AAV $2.8M

No Move Clause with 15 Team No Trade List

Rep'd by @4sportshockey…

— PuckPedia (@PuckPedia) July 2, 2026

In the 2025-26 regular season, Andersen had a -3.3 goals-saved-above-expected (GSAX) according to MoneyPuck, and while the team in front of him played extremely well in the playoffs, he did struggle at times.

Frederik Andersen, signed 1x$1M by EDM, is a veteran goalie. pic.twitter.com/MizbQcngTk

— JFresh (@JFreshHockey) July 2, 2026

Andersen dealt with tragedy heading into the Stanley Cup Final, and was also reportedly battling an injury, so I think his struggles against the Vegas Golden Knights aren’t something to look too deep into.

Despite those issues, and a rough 2025-26 campaign, I think taking the risk on Andersen heading into a “must win” type of season for the Oilers is a smart gamble.

The nice thing for the Oilers is that they have set themselves up to be successful, even if they run into some injury issues, or Jarry doesn’t bounce back. The fact that they have three goaltenders to choose from at any point allows the Oilers to take the pressure off of both Jarry and Andersen, so they likely avoid the risk of injuries because of overuse, and it gives them stability if either of them are struggling, since you could pivot to a promising youngster in Levi.

At first, I was terrified about his deal, angry even. I was under the impression that Andersen could be looking for some extra term and a raise on his previous contract, but that wasn’t the case at all. A short-term deal with a low cap hit is a low-risk, high-reward deal for the Oilers, and I think it’s the best move they have made between the pipes in a long time.

There are obviously injury concerns with both Andersen and Jarry, but now that they have three competent goaltenders who can share the load, they don’t have to worry about finding a goalie, for now.

Contract Grade: B+

The other really nice thing about this contract not breaking the bank for the Oilers is the fact they still have some cap space to try and improve their top-six forward group this offseason.

Stan Bowman has done a great job this summer, and it doesn’t seem like the Oilers are finished yet.

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