As rivals lock up young talent with massive extensions, Edmonton resisted the pressure to overpay early, prioritizing roster flexibility and definitive proof of Matt Savoie’s long-term value. Was it the right decision?
Stan Bowman met with the media Wednesday, and part of the conversation focused on Matt Savoie. As money flew out the door of other NHL franchises in the hours leading up to the CBA deadline—both in term (eight years) and signing bonuses (the ability to front-load the payment structure)—the deadline passed with no news on Savoie.
There was no extension, and frankly, no real speculation of one.
It was a bit intriguing that no one mentioned an extension. It's clear the Oilers like Savoie, but it's been quiet.
While there’s still plenty to learn about Savoie, players with lesser resumes have already landed big-money extensions. Noah Ostlund signed an eight-year deal with the Buffalo Sabres worth $6.6 million AAV, while Justin Sourdif signed an eight-year extension with the Washington Capitals worth $6.35 million AAV. Ryan Leonard signed an eight-year extension carrying a $10.5M AAV.
All could be interesting comparables, even if the players themselves are different.
Still, Bowman didn't seem worried. Extremely confident in Savoie's ability and quick to say the Oilers will miss the forward in their lineup to start the season, Bowman noted, “As far as his contract, I’m not going to comment on that, but I’m confident that that’s going to work itself out in time."
Why wait? What's the reason the Oilers didn't jump on that same bandwagon other teams did as the clock was ticking down?
“Each team has a different puzzle than we do, so I think that’s kind of part of it, is trying to figure out what’s strategically the best move on how we approach all of our contracts,” Bowman explained. He's prepared to take a wait-and-see approach.
It might not be the worst idea, and for a few reasons.
First, there's the Savoie injury. While it isn't expected to be long-term, it creates a slight reason for pause. How long will it take Savoie to get going? Will this be an issue that lingers? Both could be reasons to hold off, knowing that a similar season gives them more confidence, but a down year means the potential chance to save a little money, even as salaries climb.
Second, a rushed negotiation can create the opportunity for an even bigger mistake. Teams appeared to be scrambling to get deals done before Tuesday’s deadline, and that kind of pressure can lead to decisions being made too quickly. There’s also the risk of teams jumping into a deal simply because the market is moving, without fully considering where it leads. Edmonton avoided that pressure. The Oilers can now take their time with Savoie and his agent, work through the details and get a deal done on their terms rather than out of urgency.
Third, salary cap flexibility for the Oilers is imperative. Bowman appeared on Oilers Now and noted that the team is in win now situation and paying Savoie could create a situation where they've allotted extra money early to a player when today's dollar might be better spent on an asset that could help immediately. He explained:
"Cap space is important to have the flexibility to add pieces to put us over the hump. So, yeah, the way that these younger players’ contracts are structured typically is, when you do the longer-term deal, you know, you’re kind of overpaying early and you’re underpaying late. And, you know, by year two, three, four or five, you’re in a great situation, but the first couple years are the inverse of that."
He added, “That might be what we want to do, I think. But you get more information over time on where your team... It’s really less about Matt Savoie than it is about our team. Our situation is different than some of the other teams that are going down that road."
Finally, what is Savoie? Teams who signed their respective guys to big contracts on Tuesday can't honestly say they know yet. The Oilers will get the chance to watch their player and make a more well-informed decision. It might cost them a few more dollars, assuming Savoie explodes offensively, but how much?
In the end, the Oilers chose to wait. They either weren't sure eight years was the right play, or they needed more intel before commiting real term and money to player they see as a big part of their future, but to what degree remains unclear.
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