The Edmonton Oilers thought they had solved their goaltending situation by acquiring Tristan Jarry. For the first couple of games, the deal looked like a big win. Then, Jarry landed on IR and subsequently struggled upon his return.
Since then, Connor Ingram has been the guy for the Oilers. Coach Kris Knoblauch anointed him as the starter earlier this week, calling Jarry’s role with the team into question.
All that’s fair and fine, but the broader issue is that the Oil will be paying over $5 million for a backup goalie. Needless to say, that’s not a situation conducive to good business practices.
Rumors suggested that the Oilers could trade for another goalie at the NHL trade deadline. However, no deal materialized. The club instead opted to bolster the lineup in front of Jarry. That seemed like a more sensible move, though it hasn’t really worked out quite as expected.
Regardless of where Edmonton ends up this season, the team will have a bigger decision to make in the offseason. Management will need to determine if Jarry remains a part of the organization moving forward. If the team is unable to trade Jarry, a buyout may become the only way out.
Buying out Jarry might not be the worst idea in the world. His current $5.35 cap hit weighs heavily on the Oilers’ cap structure, especially if he can’t deliver up to expectations. That said, buying out Jarry would offer some limited relief in the short-run.
According to PuckPedia’s calculations, buying out Jarry would save Edmonton $667K in the first year and $1.6 million in the second. Since the 30-year-old netminder has two years left on his current deal, the Oil would be on the hook for two more seasons of dead cap space at $458K.
Limited Cap Savings Offset by Clearing Jarry Off Roster
While cap savings would be limited for the Edmonton Oilers, the biggest benefit would be clearing Jarry off the roster. It opens up another spot for an incoming goalie. Of course, having $4.7 million in dead cap space significantly reduces what the team can do in terms of adding another goalie in the offseason.
That’s why buying out Jarry might not be the most palatable move for the organization. But if the Oilers can’t find a trade partner for Jarry, or if they’re unwilling to just stick with Jarry for the remainder of his contract, the solution may be to buy out his contract and bite the bullet with the dead cap space for four more seasons.
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The biggest reason why the Oilers may not want to buy out Jarry is that Jack Campbell’s dead cap space remains on the books.
Edmonton signed Campbell to a five-year deal during the 2022 offseason. Things didn’t go well, with the team cutting the former first-round pick after one year and change. The buyout remains on the books until 2030.
Ouch.
That situation might make the Oil wary of buying out Jarry. But if no other alternative emerges, a buyout may be the only way to go.
Ideally, the club would like to see Jarry take over the role as its No. 1 goalie. But then again, the team may have no choice but to suck up the mistake it made this season.
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