The Edmonton Oilers have over $46 million tied up in just four players for the 2025-26 season. That’s not far from 50 percent of the total cap number allowed for 23 roster players each season. The four men (Connor McDavid, Leon Draisaitl, Evan Bouchard and Darnell Nurse) are vital cogs, so management must find a way to make things work.

How does the team get it done? Value contracts, both for current roster players and acquisitions at the deadline.

Here’s how.

Current value deals

If we make a list of value deals (under $3 million), there’s a solid value base already on the 2025-26 roster (all numbers via PuckPedia):

PlayerCapRole

$2.75M

Top-five defenceman

$2.6M

Starting goalie

$1.887m

Skill winger

$1.616M

Skill winger

$1M

Middle-six winger

The only absolute lock for a feature role in that group is Stuart Skinner. His hold on the top job is dependent on performance, and there’s a non-zero chance the club makes a move at the deadline for a more proven (and expensive) option.

Brett Kulak and Vasily Podkolzin should have periods during the season when they are employed in feature roles. Kulak often slides up to the second pairing, and Podkolzin is likely to occupy the left side on Leon Draisaitl’s wing (second line) for portions of games in 2025-26.

The key value deals could be rookie skill wingers Matt Savoie and Ike Howard. It’s not certain they will play on one of the top lines all year, but at least one of them needs to spike and establish himself as an NHL player.

If the Oilers hit the deadline with Skinner firmly ensconced as the de facto No. 1 goalie for another playoff run, with two of Podkolzin, Savoie and Howard on one of the top two lines, that’s three value contracts in feature roles at a cap hit under $5 million (depending on bonuses for the rookies). That would allow general manager Stan Bowman to wheel at the deadline.

Secondary value deals

Beyond the five names mentioned above, there’s a chance the club gets unexpected contributions from several veterans and roster hopefuls.

Calvin Pickard doesn’t occupy a feature role, but at just a $1 million average annual value, he has delivered more than a fair return for two seasons in a row. Defencemen Ty Emberson and Troy Stecher are inexpensive and have a chance to step up in the coming year. The same can be said for several depth forwards with contracts under $1.5 million: Mattias Janmark, Curtis Lazar, Kasperi Kapanen and David Tomasek.

Tomasek is a complete wild card, and Janmark looks to be fading, but both could surprise. Lazar is healthy again, and Kapanen provided a spark and could slide into a more prominent role if one of the rookie wingers fails.

Down on the farm

If the secondary group is populated by players who are longshots, and they are, then the farmhands who will play for the Bakersfield Condors this season can be described as distant bells. If anyone from this list emerges as a value contract with the Oilers in 2025-26, Edmonton might be a team of destiny.

PlayerPossible role on recall

Roby Jarventie

Skill forward with size and utility

Noah Philp

Right-handed centre who can kill penalties

Alex Regula

Right-handed defenceman who could surprise

Atro Leppanen

Left-handed defenceman with high-octane offence

No one ever doubted Roby Jarventie’s skill, but his ability to stay healthy has been a real issue. He’s reportedly ready to go, and with his hands and size (6-foot-3), he could pass several established players if he can deliver strong numbers in the minors. He can play any forward position and is a fine passer and shooter.

Noah Philp may not make the big club, and he is waiver eligible, but there’s plenty of range on his resume. He’s right-handed, plays centre and can kill penalties. Lazar’s signing probably blocks Philp, but if he gets a chance, he might emerge as a useful player and a value contract.

Alec Regula is also waiver eligible and is coming off an injury-riddled season like Jarventie. Edmonton’s right-handed defence depth chart isn’t as concrete as the left side, and Regula can move the puck and make plays. If he shows well in camp, he has a chance.

Atro Leppanen is an exceptional offensive presence, but he is untested in North America and spiked as a player late. At age 26, he is a “trust, but verify” impact defenceman who should be considered the ultimate wild card.

At the deadline

Perhaps the best option for Bowman to get creative will come at the deadline.

For a top-heavy team like Edmonton, choosing to pursue a deadline acquisition who can have his contract extended may be the best plan. But Bowman could copy the Vegas Golden Knights, who often spend the deadline picking up younger talent heading for free agency and then sign that talent before July 1. The deal for Noah Hanifin at the 2024 deadline is an example. He was 27 at the time, meaning the Golden Knights bought some years in his 20s and have a better chance of getting optimal production.

If Bowman runs a 22-man roster (one short of the maximum allowed), the cap savings should be enough to acquire a big-ticket item at the deadline. However, the team will need to be innovative. As James Mirtle mentioned in a recent article, it seems many teams have the same idea and (quoting Mirtle), “The challenge in this environment right now is that if everyone has cap space, it becomes a less valuable asset.”

The Oilers can still take advantage of the opportunity. If a team like the Minnesota Wild sees a change in the nature of its goaltending tandem (Jesper Wallstedt is an emerging talent and should get a full shot at the backup job this season), it’s possible the club would be willing to move current starter Filip Gustavsson. The Wild goalie is a free agent at the end of the season, is 27 and has delivered quality results in two of the past three seasons. He might be a worthwhile target if Skinner struggles next season.

Bottom line

If the Oilers get to the deadline with cap room and a clear trade target, there’s every chance there will be competition from other interested teams. The best way to avoid expensive deadlines? Grow your own players. Bowman appears to be giving Skinner, on the final year of his value contract, a “stand and deliver” opportunity.

Value deals await at the deadline for a team that can identify inexpensive talent. The best inexpensive goaltender available is Michael DiPietro of the Boston Bruins (more about him here). The deadline may or may not change anything on the goaltender front, and a value deal may not be available.

Bowman might be wise to try to deal for DiPietro now and use the deadline to acquire a player in a situation similar to Hanifin in 2024. The cap goes up a year from now, but value contracts will never go out of style.

(Photo: Steph Chambers / Getty Images)