The Edmonton Oilers have something this offseason they haven’t really had before: Cap space. The club has a little over $4.7 million and has seemingly decided to sit on it. GM Stan Bowman has even made it clear that the team isn’t keen on spending it now.
So, the question begs: What are they waiting for?
$4.7 million isn’t nearly enough to bring in a superstar player. But it could be enough to bring in a solid depth player. In fact, with some of the options out there, that cap space could be enough to sign two depth players.
For example, Edmonton could target a couple of the remaining UFAs via Professional Tryout (PTO). Even a guy like Patrik Laine might be willing to sign a one-year, $4 million contract just to get another shot at the NHL.
A scoring winger like Laine may see his career reinvigorated by playing with an elite center like Connor McDavid or Leon Draisaitl.
Of course, there are other routes the Oilers could take. $4.7 million in cap space is not nothing. And that’s why it’s perplexing that the organization is just sitting on it right now.
Could Oilers Be Waiting for Something Big?
Overall, the most glaring weakness for the Oilers is goaltending. The team will likely end up with three goalies this season. While Frederik Andersen is finally a Stanley Cup winner, he’s not really the solution The Oil is looking for.
With that in mind, could it be that the Oilers are waiting for something else? Could it be that, hypothetically, Tristan Jarry’s $5.38 million cap hit plus the $4.7 million in space could be enough to fit in Connor Hellebuyck’s cap hit?
While there’s no solid lead to link Hellebuyck to Edmonton, the conspicuous lack of use of the available cap space signals that the team could be waiting for something to happen. It’s almost as if the Oilers are just biding their time for something to happen.
If a trade is indeed afoot, Edmonton could combine its cap space with another player moving out to fit in a new contract.
What to read next:
Is This Strategy About Deadline Cap Space?
One of the unusual features of the NHL’s cap system is accruing deadline cap space. Teams accumulate cap space based on the amount of available daily cap space. PuckPedia currently projects that the Oilers would have over $21 million in deadline cap space.
Could that be the angle here? Is Bowman thinking 25 billion moves ahead? Instead of maxing out his cap space now, he wants to maintain flexibility in case something comes up during the season.
And the strategy would also help the club have enough free space to make a splash at the deadline.
Ultimately, cap flexibility is something that not many fans think about. The knee-jerk reaction is to spend at the top of the cap, even if it means shackling in-season moves. Perhaps that’s what this is all about.
The Oilers have not had this sort of flexibility in quite a while. That’s why the organization wants to enjoy it while it lasts.
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