The Edmonton Oilers have not matched the two offer sheets the St. Louis Blues presented to Philip Broberg and Dylan Holloway last Tuesday.
The Blues signed the Oilers restricted free agents Holloway and Broberg to two-year deals. Broberg’s offer is for a two-year contract at $4,580,917 per year, the maximum offer that would require a second-round draft pick as compensation. Holloway’s offer is for a two-year contract at $2,290,457 per year, the maximum offer that would require a third-round draft pick as compensation.
The Oilers had seven days to match the offer sheets that Holloway and Broberg had signed or receive compensation for those players. New general manager Stan Bowman and CEO Jeff Jackson took their time and laid out their options. On Sunday night, things appeared to align for the Edmonton Oilers to match the offer sheets.
First, the Oilers traded for Vasily Podkolzin from the Vancouver Canucks. This move was a sign that Holloway could be moving on from Edmonton. Edmonton is bringing in an in-depth piece from the forward position.
However, the more significant move came on Sunday on the East Coast when the Oilers traded maligned and criticized defenseman Cody Ceci and a third-round pick to the San Jose Sharks for defenseman Ty Emberson.
As mentioned last week on Full Press Hockey, the Oilers would have needed to move Ceci to clear the necessary cap space to keep either Holloway, Broberg or potentially both players. Again, Evander Kane will have surgery, and his salary of $5.1 million will go on LTIR (long-term injured reserve). However, that can’t happen until the start of the season. So, the Oilers are still over the cap but have options now.
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However, Bowman and the Oilers decided that cap space was a better asset than keeping two young players. Now, the Oilers can add players they need at the NHL Trade Deadline.
According to PuckPedia.com, the Oilers will submit a roster under the salary cap and can add $4.4 million at the deadline.
Meanwhile, the St. Louis Blues, according to PuckPedia.com, have $2.2 million in projected cap space.
While this is a tough decision for the Edmonton Oilers, it is the right decision financially. The biggest asset for any cup-contending team, which the Oilers are, is cap space. With Leon Draisaitl and Evan Bouchard due new contracts heading into the 2025-25, year two of Broberg at $4.5 million and Holloway at $2.2 million meant it would have been difficult for the Oilers to keep Draisaitl long-term along with Bouchard.
Not to mention, Connor McDavid is also eligible for an extension next summer. The Oilers would have been really up against the salary cap. Had the Oilers matched both offer sheets, it would not have been easy to field a contending squad. The Oilers are in win-now mode. The model they are using is to build around McDavid, Draisaitl, Bouchard, Zach Hyman, and Ryan Nugent-Hopkins, as players from around the NHL want to be a part of this group now.
Betting on potential would have been tough for the Oilers to swallow. The Blues used the offer sheet to perfection. This is precisely how it is supposed to be used. It forces a team to think about what is best for business. St. Louis gets two young players that fit in with their development timeline.
Philip Broberg has the potential to be a second pairing in the NHL. We saw what he did in 10 games in the Stanley Cup Playoffs for the Oilers. At the same time, Dylan Holloway could be a top-six forward.
Even though management wanted former general manager Ken Holland to sign Holloway and Broberg during the season, the players would see what was available on the market. Now, Broberg and Holloway are members of the Blues. Blues General Manager Doug Armstrong played his hand perfectly, putting that second year on those offer sheets.
Now, the Edmonton Oilers have insurance upfront, and Podkolzin is on the backend with a face familiar to Chris Knoblauch in Ty Emberson.
In the end, the Edmonton Oilers had to make a choice. Cap Space or young players based on a well-thought-out and executed offer sheet by the St. Louis Blues.
