The Edmonton Oilers will have tough decisions after the 2023-24 season when all is said and done. They are focused on clinching a playoff spot and making a deep postseason run right now, but they will have to shift their focus soon to re-signing several players on expiring contracts. With two games in hand on the red-hot Vancouver Canucks and only six points behind, the Oilers still have a shot at winning the Pacific Division. One player who requires a new deal is forward Warren Foegele, who has played exceptionally well this season and has found himself a consistent role in the top six with a strong offensive performance. Despite the Oilers’ rough start to their 2023-24 campaign, they have dug themselves out of a hole and are in a solid position with just 11 games left this season.
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Foegele was brought into the Oilers’ organization before the 2021-22 season when they acquired him from the Carolina Hurricanes in exchange for defenceman Ethan Bear. While Bear has gone on to be a solid depth defender with the Washington Capitals where he recently signed, the Oilers got the better end of that one-for-one deal. Since joining the Oilers, Foegele has maintained a strong two-way game and has produced well offensively. Through 220 games as an Oiler, Foegele has scored 41 goals and added 49 assists for 90 points, which is a 0.41 points-per-game average.
For the Oilers, who were struggling to find depth scoring for several seasons, Foegele was a breath of fresh air. They immediately re-signed him to a three-year deal when they acquired him, and he has been worth every penny. Some fans, including myself, were hesitant at first since it seemed as though he couldn’t find the confidence to expand his game offensively, but his 2023-24 campaign has silenced every doubter as he pushes toward the 40-point mark for the first time in his career. At only 27 years old (he turns 28 on April 1), Foegele is in his prime and could be looking for a pay raise on his next deal, which the Oilers may not be able to afford.
Foegele’s Could Be Luxury Oilers Can’t Afford
When the Oilers re-signed Foegele to that three-year extension, they paid him a price of $2.75 million per season, which, at the time, was a very fair deal. As his two-way game continues to improve and his offensive production skyrockets alongside superstar Leon Draisaitl, he could be looking for a new deal in the $4 million – $4.5 million range. With the Oilers looking at multiple options this offseason, including a new backup goaltender, depth defenders, and more depth scoring, Foegele may price himself out of Edmonton.
The Oilers will have just under $13.3 million to spend during free agency. That money will have to go toward either Calvin Pickard or a new backup goalie, and then the consideration of re-signing Mattias Janmark, Adam Henrique, Sam Carrick, Connor Brown, Sam Gagner, Corey Perry, Troy Stecher, and Vincent Desharnais. While there might be some other options available on the open market for cheap and some young guns ready to make the jump to the NHL, it still seems like it will be tough to bring back Foegele.
If he plays it right on the open market, Foegele could earn some stability and a hefty payday. It wouldn’t be surprising to see him earn a three or four-year contract around that $4 million per season. But, it would be nice if the Oilers could bring him back, knowing the fit has been great, and considering his proven track record offensively, he would be a welcomed re-signing. Unfortunately, the Oilers may have to part with someone like Cody Ceci or Evander Kane to pay Foegele what he deserves, which could be tricky.
There haven’t been any reports claiming Foegele wants to test the open market. Still, there also haven’t been any updates from anybody stating that Foegele and the Oilers have engaged in extension discussions. This will likely be something the Oilers would prefer to get finished up and re-signed, considering they need to shift their focus to signing Draisaitl to a massive extension soon, as he is an unrestricted free agent after the 2024-25 season. Hopefully, the Oilers can bring back Foegele on a solid contract and have enough money left over to fill out their lineup and have a chance at contending again in the 2024-25 season.
