The Edmonton Oilers are in the midst of another great season and looking for that elusive Stanley Cup. After losing in Game 7 of the Cup Final last year, they are looking to keep this core together to get them over the hump. They signed Leon Draisaitl to a record-breaking extension that kicks in this offseason. Connor McDavid’s contract is expiring soon and his extension would set another record considering the rising salary cap. If the Oilers have to make a trade to facilitate a McDavid deal, they cannot trade defenseman Evan Bouchard.
Bouchard is a restricted free agent after this season, ending a two-year deal paying him $3.9 million per season. The Oilers have other contracts expiring after this season and the cap rise will help sign Bouchard as well. At just 25 years old, Bouchard is the top offensive defenseman in Edmonton and runs their top power play. Without a great power play, the Oilers would not be as successful as they are now.
The argument for trading Bouchard is the horrendous contract former GM Ken Holland gave Darnell Nurse. He has not been great on a $9.25 million payday that runs through 2030. Even with the rising cap, it will be hard to have a balanced roster with two $9 million defensemen and two $14 million forwards. But Bouchard and the Oilers cannot be burdened by the mistakes of the prior regime.
Nurse was also given a no-trade clause as part of his contract. So trading him is not an option unless he waives that clause. But considering the amount of money coming off the books this year and the rising cap, the Oilers do not have to trade anyone. The salary cap is increasing from $88 million this year to $92.4 million next year and $113.5 million by 2027-28.
How can the Oilers manage their cap?
With the rise in cap and money coming off the books, Spotrac estimates that the Oilers will have over $16 million in cap space this offseason. All of that money won’t go to Bouchard but he has earned a lot of it. If he signs a long-term deal, a $9 million cap hit would be market value. But a bridge deal could be in the cards to help free up cap space for McDavid.
If Bouchard signs a two or three-year deal at about $7 million per season, money will be available for McDavid. Mattias Ekholm’s contract is expiring after the 2026 season which will free up the necessary money to pay McDavid. Between his $12.5 million salary, Ekholm’s $6 million, and the $8.5 million cap rise, that is enough to give McDavid a max deal.
The Athletic’s Dom Luszczyszyn ran the numbers and declared that McDavid could be the first $20 million player. The max deal in the NHL is 20% of the salary cap, which would be $20.8 million for the 2026-27 season. That would be far and away the biggest contract in league history and an eight-year value of $166.4 million.
It will be difficult for the Oilers to maintain competitiveness with a $20.8 million player on their books. At the beginning of McDavid and Draisaitl’s current deals, they struggled to build strong depth because of the cap. But as the cap has risen, they have built that depth and improved their goaltending.
Bouchard, however, is not depth. He is the Oilers’ top defenseman and at 25 years old, a cornerstone they must keep around. If a trade needs to happen to facilitate a McDavid deal, Bouchard should be among the last players on the move. How would you handle this Oilers cap situation?
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