The news most Edmonton Oilers fans were bracing for over the last few days has finally been announced.
The Oilers announced this morning that they have placed goaltender Jack Campbell on unconditional waivers for the purpose of a buyout:
After two seasons with the team, it was clear this was the only route to shed salary and move in a different direction.
Costly moves in the Campbell deal
When Campbell was signed to his five-year, $25M contract in 2022 many looked at the deal and wondered how well it would work out. Many thought negatively, and those haters were entirely correct. Campbell just never found his footing with the Oilers, and with Stuart Skinner waiting in the wings to take the crease full-time, this was always destined for a divorce.
This is what the buyout is going to cost the Oilers:
The team is going to get significant savings over the next three seasons before having a $1.5M cap hit for three seasons after the contract was supposed to end. Campbell will be on the books for the team until 2029–30 when his money will finally be gone.
With an increasing cap world, this is likely going to help the team in the short term while also not factoring in significantly to the cap when it reaches an ever higher ceiling.
Campbell is likely to draw interest from around the league to fill a backup position and is likely to thrive. This just made the most sense for both sides after a difficult few years in Edmonton.
Photo by Curtis Comeau/Icon Sportswire
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