The Edmonton Oilers will need to clear cap space if they want to re-sign RFAs Dylan Holloway and Philip Broberg. Here's the speculation about how they could do that.

On July 1, The Athletic's Daniel Nugent-Bowman reported the Edmonton Oilers were perched nearly $2.5 million over the $88-million salary cap for 2024-25. He anticipated they would make a cost-cutting move or two to ensure cap compliance before their season opener in October. 

They took a step toward addressing that issue last Friday, shipping center Ryan McLeod and minor-leaguer Tyler Tullio to the Buffalo Sabres for prospect center Matt Savoie. That move cleared McLeod's $2.1-million cap hit from their books. 

The Oilers, however, aren't out of salary-cap hell just yet. PuckPedia indicates they're over $354,000 above the cap, with RFAs Dylan Holloway and Philip Broberg due for new contracts. Both are completing their entry-level contracts and lack salary arbitration leverage.

Nugent-Bowman's colleague Allan Mitchell pointed out that new deals for Holloway and Broberg could push the Oilers further over the cap by $3 million. He explored several options they'll face to get under the cap by October.

One is putting winger Evander Kane on long-term injury reserve if he requires surgery or a lengthy recovery from a suspected hip injury. Otherwise, the Oilers could end up dumping another contract via the trade market.

Trading Kane would free up $5.125 million annually from the Oilers' cap payroll through 2025-26. However, The Hockey News' Caleb Kerney pointed out he has a full no-movement clause until March 1, when it becomes a 16-team trade list. 

Kerney also noted The Fourth Period's Dave Pagnotta speculating the Oilers could shop a defenseman like Cody Ceci or Brett Kulak. Ceci, 30, has a $3.25-million cap hit this season, while the 30-year-old Kulak carries an average annual value of $2.75 million through 2025-26. 

David Staples of the Edmonton Journal cited Daily Faceoff's Frank Seravalli suggesting Ceci as the likely trade candidate, believing there's a market for him. Staples observes Ceci was among the few Oilers who elevated their game in the playoffs compared to the regular season.

Seravalli also noted a more urgent reason for the Oilers to clear cap space, suggesting the possibility of Broberg receiving an offer sheet from a rival club. He thinks a six-year offer at $4.5 million or $5 million annually would make it difficult for the Oilers to match.

Offer sheets are rarely used in the salary cap era, with only two players being successfully signed away, the last being Jesperi Kotkaniemi by the Carolina Hurricanes in 2021. Nevertheless, the possibility cannot be discounted. 

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