The theme of Free Agency Day for the Edmonton Oilers has been “don’t worry, be happy.’ With the vibes being down all throughout June, General Manager Stan Bowman responded with smart, strong moves for July 1. And now, the motto has shifted to “don’t worry, be Kappy,” as the team announced a new contract for free-agent forward Kasperi Kapanen. Kapanen has signed for the 2026–27 season with a $2.6M cap hit.
Keeping Kapanen is worth it for the secondary scoring he provides
This contract is nothing short of a coup for the Oilers. We’ll get into the prestige aspect of why Kapanen could have made bank on the open market shortly, but that aside, he can score. Kapanen, since coming to Edmonton, has been a passable depth scorer, and crushed it after he returned from injury last season.
Kapanen posted 10 points in the 13 games between his return and the Olympic break, including having multiple multi-point games. He finished with 41 games played, eight goals and nine assists for 17 points. And when given the option, you’ll gladly pay $2.6M for a 16-goal, 35-point pace. Especially with all the woes that Edmonton’s depth scoring dealt with last season.
Kapanen is also a playoff warrior. Not only did he score the overtime goal in 2025 that eliminated the Vegas Golden Knights, but he helped the Oilers take Game 1 of their series against Anaheim this past season with a pair of goals. Across the entire series, he was only held scoreless in Game 5, where his scoring was needed the least, and he posted four goals and six points in six games.
That’s worth $2.6M as well. All told, Kapanen probably could have gotten three million on the open market by a desperate team. So locking him up for less than that is tidy work by Bowman.
No need to guess where he’ll likely slot in on the Oilers’ roster
Then, there’s the prestige aspect to consider. Not only is he a proven clutch scorer, and a solid third-line presence. But he quite often moves up in the lineup. He’s found chemistry with linemates Vasily Podkolzin and Leon Draisaitl on the second line, and that line started together for the 2026 playoffs. Towards the end of the series, Kapanen was even put together with Draisaitl and Connor McDavid.
The Podkolzin-Draisaitl-Kapanen line chips in frequently offensively, but has also been cited for their defensive work before. Last year, before injuries struck, the trio being together was discussed as potentially helping Draisaitl garner Selke Trophy votes. Obviously, that did not come to fruition, but that line is still very responsible in their own end.
To have that versatility is huge for this roster. If one, two, or all three of them get in a slump, there’s an instant solution available. That adds extra value to this signing that you just can’t put a dollar value on.
Stan Bowman won this year’s opening day of Free Agency
This will likely need its own story, but the reality is Stan Bowman walks away from today victorious. He not only got the Darnell Nurse trade done, but he got intriguing young defenceman Shakir Mukhamadullin as part of the return. He then signed Stanley Cup-winning goalie Frederik Andersen to mentor traded-for goalie Devon Levi.
And Bowman wasn’t done there. Buy-low deals for Mathieu Joseph and Max Jones, along with this, bolster the forward depth. The only major gamble Bowman took was signing Ryan Shea away from Pittsburgh, but at that, Shea is still just 29, and can be good for another few years.
No wild overpays, only one significant risk, and getting out from under Nurse’s contract without any retention. All of that adds up to a win, which Bowman desperately needed. This is a big offseason for a team coming off a first-round exit and controversial swap of coaches. And so far, Bowman’s batting close to 1.000 in July, which makes him a winner on this day.
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