“Signs, signs, everywhere a sign.” That classic song from the Five Man Electrical Band could be the theme for the Edmonton Oilers and their fans going into the 2023-24 season. Everywhere you look there’s a sign that they are inching closer to becoming Stanley Cup champions for the sixth time in franchise history. The most recent (although bitter) sign was when the Vegas Golden Knights won their first Stanley Cup beating out the Florida Panthers in five games.
Losing to the eventual champs in Round 2 this season and to the Colorado Avalanche in the Western Conference Final last June reveals just how close the Oilers are. Elliotte Friedman from Sportsnet/Hockey Night in Canada mentioned recently on Oilers Now that they gave the Golden Knights the toughest series on their road to the Stanley Cup. A series that could’ve gone either way.
Oilers Management Have Their Work Cut Out for Them
All eyes are on Oilers general manager Ken Holland this summer. His team doesn’t have a lot of wiggle room with just over $5 million in cap space, and he has to re-sign players such as Evan Bouchard, Ryan Mcleod and Klim Kostin who are all restricted free agents. There’s not much money left to sign unrestricted free agents that include Nick Bjugstad, Mattias Janmark, and Devin Shore. You have to wonder if forwards Kailer Yamamoto and Warren Foegele aren’t being shopped, as their combined salaries add up to $5.85 million.
Creative Cap Management Will Be Key
Jonathan Willis of The Athletic put out an interesting tweet that I would be all for in terms of a move that could put the Oilers over the top. He mentioned that if they were to buy out goaltender Jack Campbell and trade for the Winnipeg Jets Connor Hellebuyck (at 50 percent retention) that it would actually save the Oilers approximately $400,000 in cap space next year. He did preface it by saying that it will never, ever happen (and it probably shouldn’t), but stranger things have happened.
In 2019 Holland managed to unload the Milan Lucic contract when he traded him and a conditional third-round pick to the Calgary Flames for James Neal. (Some fans don’t think this was a great deal for the Oilers, but it helped them get unhandcuffed from a really bad contract signed by Holland’s predecessor Peter Chiarelli.) Holland also got the Carolina Hurricanes to retain Jesse Puljujärvi’s full salary at the 2023 NHL Trade Deadline, so you can never say never.
The veteran Oilers GM did engineer the best deal of the 2023 NHL Trade Deadline by bringing in defenceman Mattias Ekholm from the Nashville Predators, so if you’re an Oilers fan, you have to believe another major trade can be done to build an even stronger team.
The Oilers Need To Improve Their Overall Team Game
In a recent interview with Sportsnet’s Mark Spector, Holland mentioned, “We need to get more people involved.” That quote is in reference to helping balance out the roster, and not relying so much on Connor McDavid and Leon Draisaitl. Getting more people involved is the formula that took the Golden Knights all the way to their first Stanley Cup championship. They rolled four lines and were committed to team defense.
The Golden Knights appeared to be the fresher, more rested team in all four series in the playoffs this spring, and if the Oilers were to copy anything from that formula, having four legitimate lines and a focus on team defense would be a good way to start. But having a balanced lineup with quality NHLers takes cap space and that’s something they are a bit short on.
Holland Needs To Come Up Aces
This offseason is one of the most important in the history of the Oilers franchise. You have two future Hall of Famers in McDavid and Draisaitl that are at the absolute peak of their power. And, you have one of the best overall teams in the last 20 years in Edmonton. Everyone knows their time is now, especially Holland.
Related: Oilers’ Upcoming Offseason One of the Most Vital in Team History
He’s in the final year of his contract, and with rumours swirling about possible replacements, you know he wants to finish the job that he started. That means he has to perform some cap magic this offseason and possibly pull another rabbit out of his hat by the 2024 NHL Trade Deadline. He’s done it before, and he seems determined to do it again. Oilers fans are hoping that Holland and his management group have a bit more magic to build the Oilers into Stanley Cup winners. They appear that they’re closer. They’re hovering. Only time will tell if they can get the job done.
