With Stanley Cup Just Out of Reach, Where Does the Edmonton Oilers’ Roster Stand Heading Into a Critical Offseason?
The Edmonton Oilers fell just short of achieving the ultimate goal in the 2024-25 NHL season, losing in a seven-game Stanley Cup Final thriller to the Florida Panthers. While the disappointment of coming so close yet falling short is still fresh, attention quickly turns to the offseason and the state of the roster as management faces several tough decisions. The Oilers, led by the transcendent talents of Connor McDavid and Leon Draisaitl, remain one of the league’s premier teams. However, salary cap concerns, expiring contracts, and the need to retool rather than rebuild will shape an offseason full of tension and potential transformation.
Heading into the 2025 offseason, Edmonton’s top priority is to maintain the core that brought them within one win of hockey’s greatest prize. Connor McDavid, who had an otherworldly playoff run and claimed the Conn Smythe Trophy despite the loss, is under contract through the 2025-26 season. However, Leon Draisaitl, his partner-in-dominance, is entering the final year of his contract. That alone casts a long shadow over everything else the Oilers hope to achieve this summer.
Draisaitl’s contract situation could define the entire offseason narrative. Reports have circulated that the Oilers are eager to lock him up with a long-term extension, but the superstar German forward will command a raise on his current team-friendly $8.5 million annual average value. It’s expected his next deal will push into the $12 million range annually, reflecting his elite status and consistent production. Edmonton general manager Ken Holland—or his eventual successor, as Holland’s own future remains uncertain—will have to determine how to structure a deal that keeps Draisaitl happy while maintaining enough flexibility to build a competitive roster around him and McDavid.
Beyond Draisaitl, several key pieces are set to hit free agency. The most prominent among them is defenseman Evan Bouchard, who is a restricted free agent and due a major raise after blossoming into one of the NHL’s premier offensive blueliners. Bouchard’s power play quarterbacking, composure with the puck, and breakout passing were crucial to Edmonton’s deep playoff run. He’ll likely command a long-term deal that carries an annual cap hit north of $7 million, which could challenge the Oilers’ cap structure unless they shed salary elsewhere.
Other pending free agents include veteran forwards such as Adam Henrique and Corey Perry, both of whom were acquired midseason and contributed in various roles during the playoffs. While Henrique was a valuable middle-six center with faceoff prowess and defensive responsibility, Perry provided leadership and playoff experience. At this stage in their careers, neither will command significant term or dollars, but decisions will be made based on whether Edmonton prioritizes youth or keeps veteran stability.
The Oilers also face decisions on bottom-six contributors like Warren Foegele and Mattias Janmark. Foegele had a career year in terms of scoring and speed-driven forechecking, while Janmark proved to be an effective penalty killer and versatile depth forward. Whether either returns will depend on price and role expectations, especially with younger players like Dylan Holloway pushing for full-time NHL roles.
On defense, alongside Bouchard’s RFA status, questions remain about the futures of Brett Kulak and Cody Ceci. Kulak, a reliable third-pair option, remains under contract, but Ceci could be a trade candidate. Ceci’s inconsistencies and $3.25 million cap hit make him expendable if Edmonton believes they can replace his minutes internally or through cheaper free agent options. Vincent Desharnais is another blueliner up for renewal. His size and physicality give the Oilers a unique edge, and he’s likely to be retained on a modest deal.
The goaltending situation is also complex. Stuart Skinner carried the bulk of the load throughout the regular season and playoffs. While he had moments of brilliance, his inconsistency raised questions about whether he can be the long-term answer in net. Jack Campbell, who was buried in the minors for most of the year due to poor play, remains a financial albatross with a $5 million cap hit for two more years. A buyout or trade with salary retention could be in the cards, though that would require cap creativity and perhaps sweeteners in the form of draft picks or prospects.
A wildcard in net is Olivier Rodrigue, who had a strong season with Bakersfield in the AHL. The 24-year-old netminder might push for an NHL backup role depending on how the goaltending picture shakes out. Edmonton may also explore the trade or free-agent markets for a veteran goalie who can either push Skinner or share the load more evenly.
Cap management will be crucial in all of this. The Oilers have a projected $16 to $18 million in cap space, depending on how the final number is set by the league, but that can evaporate quickly if extensions for Bouchard and Draisaitl are prioritized. Moving out a contract like Ceci’s or finding a taker for Campbell would open additional room and allow for some mid-tier free-agent signings.
Among potential external targets, Edmonton could look for inexpensive veterans on short-term deals—players who can contribute in the bottom six or stabilize the blue line. Names like Erik Johnson, Radko Gudas (if bought out), or forwards like Victor Olofsson or Tyler Johnson could be fits depending on how the market evolves. The Oilers also need to keep an eye on their own prospect pool. Holloway is expected to take on a larger role, and Raphael Lavoie may finally get an extended look at the NHL level.
Organizational depth is another area Edmonton must address. Injuries played a role in their playoff fatigue, and quality depth separates Cup winners from near-miss teams. The Oilers might explore AHL veterans or players returning from overseas to bolster Bakersfield and provide spot-duty coverage in Edmonton. The 2024 NHL Draft did not yield many immediate answers, but future depth pieces may emerge from that class down the road.
As for leadership and intangibles, the Oilers remain in good hands. McDavid and Draisaitl have matured not just as generational talents but as leaders capable of setting the tone for an entire organization. Zach Hyman, who had a 50-goal regular season and tireless playoff performances, is one of the league’s best complementary players and locker room presences. Ryan Nugent-Hopkins continues to be the team’s Swiss army knife, and defensemen like Mattias Ekholm provide poise and guidance on the back end.
Yet the clock is ticking. McDavid is only under contract for two more seasons, and the urgency to win now has never been higher. Another year without a Cup, especially after coming so close, would only increase pressure on management and the players. That makes the 2025 offseason one of the most pivotal in franchise history.
If Draisaitl signs an extension, Bouchard is locked up, and key depth is retained or upgraded, the Oilers can enter the 2025-26 season as Stanley Cup favorites once again. If the front office fails to manage the cap or misfires on roster tweaks, the team risks regression. Even a slight dip could prove disastrous in a Western Conference that remains brutally competitive.
Ultimately, the Oilers don’t need to reinvent the wheel this offseason. Their window remains wide open with McDavid and Draisaitl at the peak of their powers. But prudent, creative cap management, smart depth acquisitions, and a long-term vision will be required to stay on track. Every decision this summer will be scrutinized—not only because of what just happened in the Final, but because the future of this era of Oilers hockey may hinge on what happens in the coming months.
