With the collective futures of Philip Broberg and Dylan Holloway in question, the Edmonton Oilers used Sunday to find some potential solutions.
It started when they received forward Vasili Podkolzin in a trade with the Vancouver Canucks that saw a 2025 fourth-round pick from the Ottawa Senators go in the other direction. Hours later, they traded defenseman Cody Ceci and a 2025 third-round pick to the San Jose Sharks in exchange for prospect defenseman Ty Emberson.
Everything the Oilers front office did Sunday comes days after the St. Louis Blues were aggressive by signing Broberg and Holloway to offer sheets. Broberg and Holloway, who are both restricted free agents, needed new deals for an Oilers team that was already more than $350,000 over the cap.
With the Blues signing Broberg and Holloway last Tuesday, the Oilers had until this upcoming Tuesday to clear the necessary space to retain the duo or risk losing them while receiving draft picks in the form of compensation.
Broberg, a defenseman, received a two-year contract worth $4.58 million annually while Holloway, a forward, was given a two-year deal worth $2.29 million annually. Should the Oilers decline their right of first refusal, the Blues must give the Oilers a second-round pick for Broberg and a third-round pick for Holloway.
Trading for Podkolzin, the No. 10 pick in 2019, gave the Oilers a 23-year-old forward who is under contract for two years at a team-friendly price of $1 million annually. It would also hypothetically present the Oilers with a Holloway replacement if necessary.
Whereas trading Ceci allowed the Oilers to move on from the veteran defenseman, who has one year left on his contract at $3.25 million while adding Emberson, who has a year remaining at $950,000.
It's a move that allowed the Oilers to save $2.3 million in cap space but are still projected to be $5.925 million over the cap once even if they were to match the Blues' offer sheets to Broberg and Holloway, according to PuckPedia.
Maneuvering their financial situation became an instant priority for the Oilers after they lose Game 7 of the Stanley Cup final. Less than two weeks after their season ended, the Oilers added forwards Viktor Arvidsson and Jeff Skinner while signing defenseman Josh Brown. They also brought back forwards Connor Brown, Adam Henrique, Mattias Janmark and Corey Perry in addition to defenseman Troy Stecher.
But with the Blues' offer sheets, it left the Oilers trying to figure out how they would be able to afford at least one, if not, both players whereas the Blues have more than $7 million in cap space by comparison.
Although Podkolzin hasn't quite hit the heights expected of the No. 10 pick, he would provide the Oilers with another bottom-six forward option on a team-friendly deal at $1 million annually over the next two years. He had two points in 19 games with the Canucks last season while scoring 15 goals and 28 points in 44 games with their AHL affiliate. For his career, Podkolzin has 18 goals and 35 points in 137 games.
Moving on from Ceci means the Oilers still have seven defensemen under contract with Emberson, who had 10 points in 30 games for the Sharks, earning $950,000 as he enters the final year of his contract.
As for the Sharks, acquiring Ceci gives them another veteran in an offseason that has already seen them add Carl Grundstrom, Barclay Goodrow, Tyler Toffoli, Jake Walman and Alexander Wennberg to a roster that just added the No. 1 pick in this summer's draft in former Boston University center Macklin Celebrini along with the No. 4 pick of the 2023 draft in former Boston College center Will Smith.