In a surprising move, the Edmonton Oilers placed goaltender Jack Campbell on unconditional waivers with the intention of buying out his contract, just two years after signing him to a lucrative five-year deal worth $5 million per season. This decision will result in the Oilers carrying dead salary cap space for the next six seasons, impacting their financial flexibility moving forward.
The buyout will have immediate consequences for the Oilers, with a cap hit of $1.1 million in 2024-25 that will gradually increase to $2.6 million in 2026-27 before decreasing in the final years of the deal. This move will leave the Oilers with limited cap space to address their roster needs as they look to compete for their first title since 1990.
Campbell’s tenure with the Oilers was marred by inconsistent play, as he struggled to find his form during his time with the team. His poor start to the season, with a 1-4 record, a 4.50 goals-against average, and an .873 save percentage, led to his demotion to the AHL affiliate and eventually to being a depth option during the playoffs. This underwhelming performance, coupled with the emergence of stronger goaltending options within the organization, made Campbell expendable.
The emergence of goaltenders Stuart Skinner and Calvin Pickard as reliable options for the Oilers further marginalized Campbell’s role on the team. Skinner, in particular, surpassed Campbell as the team’s primary goaltender, forming a successful tandem with Pickard that provided stability between the pipes. Pickard’s recent contract extension solidifies the duo’s presence through the 2025-26 season, signaling the team’s confidence in their abilities moving forward.
The financial implications of Campbell’s buyout will have a lasting impact on the Oilers’ salary cap situation, limiting their ability to make significant roster moves in the coming years. The dead cap space created by the buyout will require strategic planning and prudent decision-making by the Oilers’ front office to navigate the financial constraints imposed by this move.
The Edmonton Oilers’ decision to buy out Jack Campbell’s contract highlights the complexities of managing salary cap space in the NHL and the importance of roster decisions in building a competitive team. The fallout from this move will test the Oilers’ ability to adapt and make the necessary adjustments to remain competitive in the league.