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Evander Kane Signs Four-Year Extension

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Why sleep when you can sign contract extensions! The Edmonton Oilers and Evander Kane reached a late-night agreement on a new four-year contract, that will bring the winger back before he reaches unrestricted free agency. Kane himself announced the deal, which carries a cap hit of $5.125MM. PuckPedia has the full breakdown:

  • 2022-23: $750K salary + $5.5MM signing bonus
  • 2023-24: $1.5MM salary + $4.0MM signing bonus
  • 2024-25: $2.75MM salary + 2.0MM signing bonus
  • 2025-26: $4.0MM salary

It also includes a full no-movement clause until February 28, 2025, at which point it will change to a 16-team trade list. While the team hasn’t actually announced the deal, they did amplify Kane’s tweet about it, which included the following message.

A big part of my decision to stay in Edmonton was because of the opportunity given to me only 7 months ago but also the chance to be a part of a championship team. I want to win, and I believe after signing this deal we will be able to add the right pieces along with myself to accomplish that goal, a championship.

There’s no doubting Kane’s ability on the ice. He scored 35 goals in just 58 games between the regular season and playoffs, finding instant chemistry with Connor McDavid and finally offering the kind of high-impact scoring talent that the Oilers have been looking for. It is all the off-ice stuff that has limited his market, as seen by this new contract, which comes in well below what a player of his production level would have earned normally on the open market.

There is also still some uncertainty around his future because of a grievance with the San Jose Sharks over wrongful termination, though it should be noted that this new contract is worth almost exactly the same amount as what was left on his previous deal. Perhaps there is a path to settlement, which would clear up any potential issues with this new deal.

The Oilers, who are also expected to make a big splash in the goaltending market today, get better by bringing Kane back. The team has said goodbye to some of its older players, including Duncan Keith and Zack Kassian, and appears poised to take another run at the Pacific Division crown in 2022-23. For Kane in particular, the risk was always in a long-term deal. Keeping it to four years at least someone protects the Oilers from that risk.

Photo courtesy of USA Today Sports Images

Free Agency Notes: Hague, Marchment, Kulak

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We haven’t heard a whole lot of offer sheet talk yet this offseason, but there is one young defenseman who could come into play. The Athletic’s Jesse Granger notes that he believes Vegas Golden Knights defenseman Nicolas Hague is “a real possibility” as an offer sheet candidate from general managers league-wide. Hague is an important defenseman on the rise in the Golden Knights organization, and while he doesn’t have a lot of leverage on his next contract as he’s not arbitration-eligible, another team could indeed force Vegas’ hand. A second-round pick from their first 2017 draft class, Hague’s notched a solid 42 points in 142 NHL games over the past three years. While he’s been limited to third-pairing minutes on a deep Vegas team, he’s shown really solid play-driving ability as an up-and-coming two-way defenseman. With the Golden Knights’ tight salary cap situation, it’s a reasonable bet that they couldn’t match a healthy offer for Hague.

  • TSN’s Pierre LeBrun expects the Montreal Canadiens to make an offer to bring back defenseman Brett Kulak when free agency opens tomorrow. They won’t be alone, though, as LeBrun notes that six other teams could be interested as well. Dealt to the Edmonton Oilers in exchange for a package that included William Lagesson and a second-round pick at the trade deadline, Kulak is an underrated defensive commodity who’s extremely valuable in a bottom-four role. He’d spent the last three seasons prior to this year in a Habs uniform, and he was a steadying presence in 2021-22 on a struggling team.
  • If the Tampa Bay Lightning can’t come to terms with pending UFA Ondrej Palat, The Athletic’s Joe Smith lists Mason Marchment as someone the team could make an offer to in free agency. He’d certainly add a strong checking element to the team’s middle six, and while he likely wouldn’t replace Palat’s value entirely, he’d be a strong value option with a breakout year last season and great underlying metrics. Marchment finished 2021-22 with 47 points in just 54 games.

Snapshots: Kane, Bowman, Malkin

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Forward Evander Kane is nothing if not the most polarizing and interesting free agent on the market this offseason. The 30-year-old power forward has had his fair share of off-ice controversies in his career, including a pending arbitration hearing that may award him back to the San Jose Sharks after the team terminated his contract during the 2021-22 season. Yet Kane was still spectacular on the ice after signing a one-year deal with the Edmonton Oilers for the remainder of the season, notching 39 points in 43 regular-season games and leading the NHL in scoring during the playoffs with 13 goals in just 15 games.

Yet, reports surfaced earlier this week that Kane and the Oilers weren’t close on an extension. Today, The Fourth Period’s David Pagnotta adds that there haven’t been any conversations yet today between Kane’s camp and the Oilers, adding to the likelihood Kane hits the open market tomorrow. It doesn’t limit Edmonton’s ability to re-sign him, and quite frankly, it’s still the most likely destination for him. Kane’s risk factor is only increased by the pending arbitration decision, and other teams will be hesitant to commit term to Kane without either having a deal in place with San Jose to trade back for him or having clarity on his future.

  • Legendary coach and executive Scott Bowman is moving on from the Chicago Blackhawks organization this summer, per the man himself. Now 88, Bowman had been a senior advisor for the Blackhawks since 2008. A winner of 12 Stanley Cups, Bowman will likely have any job he wants if he wants to continue his management career in the NHL.
  • Pittsburgh Penguins president of hockey operations Brian Burke spoke today, denying rumors that the team didn’t offer Evgeni Malkin his desired term of four years. He did say that giving a six-year contract extension to Rickard Rakell yesterday didn’t rule out Malkin’s return, and said that “the window is still open” for Malkin. However, with all the varying reports of Malkin’s unhappiness with the situation, his moving on in free agency is likely still a done deal.

Duncan Keith Announces Retirement

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The Edmonton Oilers have cleared even more cap space. Duncan Keith has decided to retire, which will not only open cap space for the Oilers but also means a significant cap recapture penalty for the Chicago Blackhawks:

  • 2022-23: $5.54MM
  • 2023-24: $1.94MM

Cap recapture is a function of the CBA that penalizes teams for previously signing extremely front-loaded contracts. When Keith signed his 13-year, $72MM deal in 2009, the last few years included a very low salary in order to drop the overall average.

For instance, he would have only earned $1.5MM this season in actual salary. The Blackhawks then must repay the savings they received in the early part of the contract–Keith was earning $8MM per season at the start of the deal while carrying a cap hit of just $5.54MM.

On the other end of that coin, the Oilers should actually receive a cap credit, as they paid the elevated cap hit this season despite Keith only making $2.1MM. Unfortunately, that credit is apparently being removed by the NHL–though a grievance process is possible through the NHLPA. For now, they will only receive the benefit of clearing the $5.54MM cap hit off the books for 2022-23.

While the cap implications will cloud Keith’s retirement, nothing should overshadow the fact that one of the best players of his generation is calling it quits.

The 38-year-old played 1,256 regular season games, 151 playoff contests, and won three Stanley Cups with the Chicago Blackhawks. An elite two-way player, Keith racked up offensive numbers while also playing a quiet, effective defensive game.

During his 16 years with Chicago, he averaged nearly 25 minutes a night, won the Norris Trophy twice and the Conn Smythe in 2015. He sits 34th all-time in points from a defenseman, and 26th in games played.

When he is eligible, Keith will have a great case for Hall of Fame induction, as a player who was legitimately at (or at least near) the top of his position for a long stretch in his prime.

Photo courtesy of USA Today Sports Images

Latest On Evander Kane

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The Edmonton Oilers and Evander Kane remain split in contract negotiations, according to Frank Seravalli of Daily Faceoff, who notes that the two sides met yesterday and made little progress. The separation appears to be in the length of the deal, with the Oilers looking to go short-term with the pending free agent forward. In fact, following the meeting, Kane has been granted permission to start speaking with other teams, according to Pierre LeBrun of The Athletic, though agent Dan Milstein notes that there is still hope a deal can be worked out in Edmonton.

Of course, there is also the fact that Kane is currently involved in a grievance over what he claims was a wrongful termination by the San Jose Sharks, a process that does not appear to be headed toward a resolution before free agency opens on Wednesday. That certainly clouds things for the Oilers and any other team that wants to sign Kane, as there is the potential–however remote–that a new deal could be voided if the arbitrator re-instates his contract with the Sharks. By then, a team would be left out in the cold, with cap space in hand and no premier free agents left to sign. While a settlement between the Sharks and Kane would appear to be the most likely outcome, it is not decided yet.

There is also an apparent belief from Kane’s camp that he will be able to land a deal worth somewhere between $40MM and $50MM on the open market, after showing just how dominant he can be down the stretch. After joining the Oilers in January, Kane scored 22 goals in 43 regular season games and another 13 in 15 playoff contests. That is a 49-goal pace over a full 82-game season, obviously making him one of the most dangerous offensive weapons in the league.

While some of that was obviously driven by the opportunity to play with Connor McDavid, it’s exactly that chemistry that makes Kane such an appealing asset for the Oilers. Not every player can keep up with a superstar but the Oilers finally found a perfect match for McDavid in Kane, potentially making him even more valuable to them than any other team.

The fact that he appeared to stay out of trouble off the ice during his time in Edmonton will only help his case, and the Oilers’ newfound cap space should only make it easier to work out a deal. Still, if the two sides remain far apart just days before free agency, it might seem prudent for the Kane camp to at least wait to see what else is out there before circling back.

Photo courtesy of USA Today Sports Images

Oilers Qualify Four, Non-Tender Three

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West Notes: Puljujarvi, Gaudreau, Nichushkin

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The Edmonton Oilers have cap space in hand and, after a strong run to the Western Conference Final, a clear desire to add difference-making players to their roster. One player they’re likely to subtract from their lineup is forward Jesse Puljujarvi. Puljujarvi, 24, will become an arbitration-eligible restricted free agent on Wednesday and is expected by many to be moved before next season. After a promising season in Edmonton, the Oilers faithful could not be faulted for expecting to return at least something of reasonable quality as part of the compensation package in any summer Puljujarvi trade. It seems, though, that that’s unlikely to happen. According to TSN’s Darren Dreger, the Oilers are “frustrated” by “how little interest there is” in Puljujarvi.

Dreger clarifies that there are about three or four teams that are “nibbling” at the prospect of acquiring Puljujarvi and that the Oilers front office is bracing for a reality where they are forced to “sell low” on Puljujarvi and accept a return they deem to be sub-par. Puljujarvi, the fourth overall pick at the 2016 draft, scored 14 goals and 36 points in 65 games in 2021-22, which is a career-high in points production, although his playoff scoring (just three points in 16 games) left much to be desired. There is a general belief that Puljujarvi could “pop” on another team and score with a level of consistency and frequency he never could in Edmonton, and the Oilers may be left with a sort of trade return that is not commensurate with the value they believe Puljujarvi holds.

Now, for some other notes regarding the league’s Western Conference teams:

  • With Filip Forsberg now off the market, Calgary Flames forward Johnny Gaudreau has solidified his spot as the undisputed top free agent scorer set to be available on next week’s open market. The Calgary Flames, though, are hoping his contract situation ends in a similar way to Forsberg’s. Flames GM Brad Treliving, as relayed by TSN’s Salim Valji, remains “optimistic” about the prospect of re-signing Gaudreau, and part of the reason for that optimism has been because he and Gaudreau’s agent, Lewis Gross, have been “genuinely working towards a deal.” There has long been speculation on a Gaudreau return to his native East Coast, perhaps to the Philadelphia Flyers or New Jersey Devils, but it seems as though the Flames are fully intent on keeping that from happening and have every confidence that they’ll be successful.
  • With a spectacular performance in the playoffs, capped off by an impactful Stanley Cup Final series against the Tampa Bay Lightning, winger Valeri Nichushkin could enter the market next week on extremely strong ground. The Colorado Avalanche and GM Joe Sakic are going to try to keep that from happening. The team bid farewell to goalie Darcy Kuemper, helping them save cap space, and will likely use a solid chunk of that space in their attempt to retain Nichushkin. ESPN’s Kevin Weekes pegs a Nichushkin extension in Colorado at the $5MM-$6MM average annual value, which seems more than reasonable for a strong defensive player who scored 52 points in 62 games. It’s still an open question as to whether the Avalanche will commit to the full eight-year term they are permitted to offer Nichushkin, but their ability to offer one more year than any teams on the open market could be a factor in deciding if Nichushkin stays in Colorado. If he doesn’t, he can expect a multitude of suitors once the market opens.

Offseason Checklist: Edmonton Oilers

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With the offseason in full swing, it’s time to examine what each squad will need to accomplish over the coming weeks.  Next up is a look at the Oilers.

This past season was a good one for the Oilers as they were able to make it to the Western Conference Final for the first time since 2006 before being taken out by the eventual Cup-winning Avalanche.  Now, GM Ken Holland has some work to do to keep as much of the core intact while trying to add a piece or two to bolster their chances for next year.

New Deals For RFA Wingers

Let’s start with the free agent front.  Thanks to their cap situation, they were forced to give low-cost bridge contracts to wingers Kailer Yamamoto and Jesse Puljujarvi.  It worked in the sense that it allowed them to have enough flexibility to add some other pieces to their roster for 2021-22 and clearly, some of those additions helped propel them to the third round.  But now, those young wingers are about to cost more.

Yamamoto will be owed a $1.175MM qualifying offer but should more than double that on his next contract.  After a tough showing in 2020-21, the 23-year-old bounced back nicely, hitting the 20-goal mark for the first time while setting new career bests in assists (21) and points (41) as well.  He didn’t produce at the same point-per-game rate that he did in his rookie campaign but he spent most of the year in Edmonton’s top six, logging nearly 17 minutes a game.  Yamamoto is now arbitration-eligible and with the year he had, he’ll have a strong case to push for something in the high-$2MM range if it gets to a hearing.  Another short-term contract is likely to keep the cost down but it will cost a fair bit more this time around.

As for Puljujarvi, the 24-year-old has had more success in his second stint in the NHL and is coming off a career year of his own with 36 points in 65 games with impressive possession stats as well.  His playoff performance ended things on a sour note but with him being arbitration-eligible as well, he’s in line to earn considerably more than his $1.41MM qualifying offer.  At this point, a trade appears to be likely but that was the expected outcome a few years ago when he first wanted out.  If he sticks around, they’ll need to pay up to keep him.  If he goes, they’ll need to find a pretty good player to replace him, one that won’t come all that cheap.

Add A Goalie

Now, onto the obvious one.  Goaltending has been an issue for the Oilers for several years now and while Holland has tried to get in on the bidding for some of the notable free agents (such as Jacob Markstrom), he hasn’t been able to land an impact starter.  Keeping Mike Smith around was supposed to give them some stability but the combination of him and Mikko Koskinen was highly volatile.  Now, Koskinen is off to Switzerland while there has been plenty of speculation that Smith, who has one more year left on his contract, is expected to spend 2022-23 on LTIR after playing through several injuries during Edmonton’s playoff run.  That leaves a pair of openings to fill.

One of those can be covered internally by Stuart Skinner who didn’t look out of place in a dozen starts this past season.  He’s under contract for the league minimum for 2022-23 which will give Holland a little extra flexibility to work with.  However, the 23-year-old isn’t ready to be an NHL starter yet and hasn’t played 50 regular season games in a full professional year.  He’s someone that could be leaned on for 25-30 starts but anything more than that would be risky.  Accordingly, the Oilers will need a true starter or at least someone that’s capable of playing the strong side of a platoon.

Looking into free agency, there aren’t a lot of those available with some of the more prominent names coming off the board over the last 48 hours.  Darcy Kuemper will hit the open market with Colorado opting to go in a different direction and Jack Campbell remains unsigned.  Those are the only two goalies that made more than 35 starts in 2021-22.  Unless there’s a trade out there for an affordable goaltender to materialize, their options are limited and Edmonton will need to make sure one of those two is in their lineup on opening night.

Re-Sign Or Replace Kane

A few days ago, it looked like it would be quite difficult for Edmonton to have a chance at keeping Evander Kane in the fold.  The power forward fit in quite well after joining the team midseason and is well-positioned to land a sizable contract.  It probably won’t be as high as the one that San Jose terminated but he will land one of the bigger deals on the open market next week.  But with them offloading Zack Kassian’s contract to Arizona and Duncan Keith set to retire, more than $8.5MM in cap room is opened up.  Smith being LTIR-bound would give them another $2.2MM to work with although they’ll need that and more to fill the goalie vacancy.

All of a sudden, there’s at least a pathway towards Holland being able to take a legitimate run at keeping Kane around and ensuring a key part of their attack – he had 22 goals in just 43 games – sticks around.  If not, they’ll need to put that money to good use to bring in another top-six forward to replace him.  If they have to go the latter route, it wouldn’t be surprising to see Edmonton prefer a shorter-term option – someone like Claude Giroux – whose contract would expire by the time Draisaitl’s contract wraps up in 2025.  Keith’s retirement has given Holland a chance to bring back or bring in another key piece and they’ll need to take advantage of it.

Add Defensive Depth

Keith’s retirement also opens up a spot on the back end to fill as the soon-to-be 39-year-old logged nearly 20 minutes a night on Edmonton’s blueline.  While Evan Bouchard can conceivably cover a couple more than what he logged in 2021-22, the Oilers will need to find a replacement that’s at least capable of playing 16-18 minutes per contest.

On top of that, Brett Kulak and Kris Russell are pending unrestricted free agents, opening up a pair of slots at the end of their roster.  While Kulak is a candidate to be brought back – more so following the Keith news – a depth defender or two would go a long way towards giving them a bit of stability on the third pairing.  Philip Broberg has some upside but limited NHL experience so far while their current depth options like Slater Koekkoek and Dmitri Samorukov aren’t players they should be comfortable using on an every-game basis.

What they are or aren’t able to do here will largely be determined by what happens with their goalie situation and Kane but is something that Holland will be looking to address in the coming weeks.

Photo courtesy of USA Today Sports Images.  Contract information courtesy of CapFriendly.

Arizona Coyotes Acquire Zack Kassian

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We have another trade. The Coyotes, who earlier tonight cashed in some of their draft capital to move up to the 11th overall pick, are making another move. They have acquired forward Zack Kassian, the 29th overall pick, a 2025 second-rounder, and a 2024 third-rounder from the Edmonton Oilers in exchange for pick 32. To put it more simply, the Oilers are moving down two spots and trading two future mid-round picks in order to clear Zack Kassian’s contract off their books.

The Oilers, desperate to improve their team after an encouraging run to the Western Conference Final, want to be active this offseason in making improvements to their roster. They have been interested in a variety of goalies, but with cap space at an absolute premium, they have now decided they’ll need some more wiggle room in order to get a deal done. Trading Kassian’s cap hit gives GM Ken Holland more room to work with as he chases free agent goalies, such as Jack Campbell, or other established players in free agency.

For the Coyotes, this move adds a few more picks to GM Bill Armstrong’s stockpile. The Coyotes add two decently valuable picks as well as the right to move up a few spots in tonight’s draft in exchange for taking on Kassian, who had six goals and 19 points in 58 games this year. If Kassian can perform well in Arizona, it’s possible that the Coyotes will have the option to retain salary on his deal in order to flip him to another club. For now, though, the main priority will be the draft picks acquired in the deal.

We knew going into this summer that teams such as Chicago and Arizona would be active in weaponizing their cap space in order to acquire future assets. Now, on the night of the draft, both teams have made moves to do exactly that.

Sportsnet’s Elliotte Friedman was first on the details.

Edmonton Oilers Promote Brad Holland

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The Edmonton Oilers have updated the status of several members of the front office and coaching staff, confirming that Glen Gulutzan, Dave Manson, Dustin Schwartz, Jeremy Coupal, and Keith Gretzky will all be returning to their current positions. Changes include Noah Segall being promoted to video coordinator from the AHL club, and Brad Holland being named assistant general manager.

Holland’s promotion is the headline, not only because of his obvious ties to Oilers general manager Ken Holland (his father) but also the fact that he had been chased by other organizations this summer. Chris Johnston of TSN and Frank Seravalli of Daily Faceoff both tweeted that there was significant interest from other teams.

The 41-year-old AGM joined the Oilers in 2019 as a pro scout and has a history that includes stops with the NHL’s hockey operations department and Toronto Maple Leafs.

Retaining Gulutzan and Manson is also an important distinction, as Jay Woodcroft enters his first full season with the club after seeing the interim tag removed this summer. The assistant coaches can help the rookie head coach navigate the waters as the Oilers attempt to go on another deep playoff run. Manson, who came up with Woodcroft from the AHL, will also be in his first full season behind an NHL bench, though he sat on it for more than 1,100 games as a player.

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