The Edmonton Oilers have placed goaltender Jack Campbell on unconditional waivers for the purposes of buying out his contract.

The Edmonton Oilers placed Jack Campbell on unconditional waivers for the purpose of a buyout.

The team announced the decision Sunday after Campbell spent most the season in the AHL. Once he clears waivers on July 1, he will become a UFA.

Campbell, 32, was in the second year of a five-year contract worth $5 million per year. The buyout length will now last six seasons. Here's the cap hit per year, according to PuckPedia:

2024-25: $1.1 million
2025-26: $2.3 million
2026-27: $2.6 million
2027-28: $1.5 million
2028-29: $1.5 million
2029-30: $1.5 million

That means the Oilers will save $3.9 million next season, $2.7 million in 2025-26 and $2.4 million in 2026-27.

More to come.