The NHL is on their Olympic break, but once they return to action, the trade deadline is shortly after. The Edmonton Oilers have just four games remaining before the March 6 deadline, and they have a few areas that must be addressed. They need a third-line centre, a good third-pairing defenceman, and a scoring winger to help out the big guns.
While they can’t address all these needs before the deadline, general manager Stan Bowman must decide what to prioritize and make a decision. He needs to consider their potential impact, the salary cap, and the acquisition cost.
The Oilers are clear buyers at the trade deadline, but should they go all-in? They have limited cap space available, so they can’t add a high-end player. Forwards that the organization could be looking to add include Bobby McMann from the Toronto Maple Leafs and Ryan O’Reilly from the Nashville Predators. McMann is a pending unrestricted free agent (UFA) with an affordable $1.35 million cap hit, while O’Reilly has one more season with a $4.5 million cap hit. Both of these players will likely cost a first-round pick and more, especially if there’s salary retention.
Related: Maple Leafs Drawing Deadline Interest From Oilers Outside of McMann
Should the Oilers be willing to spend meaningful assets and potentially overpay for these players? That’s a risky proposition and could have negative long-term effects. They already overpaid when they acquired Tristan Jarry from the Pittsburgh Penguins for Stuart Skinner, Brett Kulak, and a 2029 second-round pick. That was a panic move, and they can’t afford to do that again. Therefore, the Oilers should acquire cheaper options at this trade deadline.
The organization has a lot more wiggle room in the offseason to make moves, so they should keep their valuable assets and make a huge splash this summer. The offseason is more important than the trade deadline, and they should act accordingly.
Connor McDavid’s Contract Extension Begins
Connor McDavid shocked the hockey world when he inked a two-year extension with the Oilers, with the same $12.5 million cap hit as his previous deal. He left millions of dollars on the table and signed a huge hometown discount to stay in Edmonton in pursuit of winning the Stanley Cup. The Oilers’ captain did management a massive favour, and now it’s up to them to make the most of it, and it starts next season.
McDavid wants to win, and he did a selfless thing by providing flexibility and giving Bowman a chance to make moves with the cap space to do so. While every season is crucial for the Oilers, 2026-27 is arguably the most important season in the McDavid era. If things don’t go well, the captain will likely leave after this contract, and that can’t happen. The team might be handcuffed this season, but it’s time to go all-in and make a massive deal in the summer with the savings from the McDavid extension.
Oilers Can Trade for a Big Fish
The salary cap is projected to be at $104 million for the 2026-27 season, meaning that the Oilers would have roughly $13 million in projected cap space. That includes Andrew Mangiapane, but he should be gone, leaving the team with $16.6 million in cap space. That’s with eight forwards, six defencemen, and one goalie on the roster.
Spencer Stastney is a restricted free agent (RFA), but he shouldn’t cost much to re-sign. The Oilers would also need to sign a backup goalie and four forwards to complete the roster, assuming that Isaac Howard fills out that last spot. Three of those forwards should be cheap bottom-sixers or promotions from the American Hockey League (AHL), leaving one spot available for an impactful top-six scoring winger with term.
The Oilers should explore the trade route rather than going through free agency. Recently, free agent signings haven’t worked out, so they should avoid that unless they’re adding fourth-line players on cheap deals. It’s time to go big fish hunting, and they will have the cap space to do so. Now it’s about having the right assets and pitching an enticing trade proposal to make that happen.
This is why management shouldn’t trade their valuable assets at the trade deadline. The Oilers could use their 2027 first-round pick in a package to acquire a legitimate top-six winger to play with Leon Draisaitl. They wouldn’t be able to do that if they burned those assets in March for lesser options.
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