The Edmonton Oilers took a major step this season toward being an annual Stanley Cup contender, defying even the most optimistic preseason predictions by coming within one win of the Western Conference finals.
It was an important season for the Oilers, who are now in a key window; they’re capable of winning it all, and have the flexibility that comes with stacking a roster while Connor McDavid and Leon Draisaitl earn entry-level money. That won’t last long.
Here is where GM Peter Chiarelli should focus to keep this Oilers team on track to win a championship:
1. Get Connor McDavid's extension done early
It’s crazy to think that it’s already time for McDavid’s camp and the Oilers to talk about his second contract, since it seems that he just entered the league. But starting on July 1, McDavid can sign an extension; his entry-level deal expires after next season, and there’s no reason to mess around with this. Chiarelli has had this extension in the back of his mind with just about every roster decision he’s made since joining the Oilers. For example, part of the appeal in trading for Adam Larsson was his reasonable salary-cap hit of $4.167 million annually that will look really good when it comes time for McDavid’s raise.
The challenge is figuring out the right number. McDavid and Jack Eichel will be the first franchise centers to sign contracts out of their entry-level deal in years. There’s not a great comparable, but it doesn’t seem unreasonable to suggest that McDavid will get an eight-year deal with an annual salary of at least $10 million. That’s assuming he wants to go that long right away. He might prefer a deal that cuts out fewer unrestricted free agent years.
2. Re-sign Kris Russell
Kris Russell is certainly a lightning rod in the hockey community, but he has proved to be an important part of the Oilers' defense, and if he’s willing to return for the right price, the Oilers should do it.
The expansion draft complicates the timing of the deal -- and the Oilers don’t need to do anything that gives them additional exposure issues -- so it might be a contract best signed after the expansion draft. But Russell averaged 22-plus minutes per game in the playoffs. His possession numbers in the playoffs leave something to be desired, as is usually the case for him, but the Oilers averaged just 1.56 goals against per 60 minutes of even-strength ice time when he was on the ice in the playoffs (per Corsica Hockey), the best ratio among Oilers defensemen.
3. Convince Vegas to take Benoit Pouliot
The Oilers will be in full-on, win-it-all mode the next few seasons, and there’s just no room for bad contracts. Pouliot has two more years remaining on a deal that averages $4 million per season. The expansion draft is the one opportunity to get that contract off the books without having to pick up any of it.
The trick is making it worth Las Vegas GM George McPhee’s time and money. The Oilers have extra picks in the third and fifth rounds; I'm not sure whether packaging them together would be enough to convince Vegas to grab Pouliot, but it’s a conversation the two teams need to have.