Edmonton Oilers Set to Buy Out Jack Campbell's Contract? Here's How Much It Will Cost

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Ryan Hall
November 13, 2023 (9:56)

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The signing of Jack Campbell by the Edmonton Oilers has been nothing short of a disaster. The hype surrounding his signing two offseasons ago suggested that he would be a player to help the Oilers take the next step in their quest to lift their 6th Stanley Cup.

General manager Ken Holland reviewed the evidence from Campbell's time with the Toronto Maple Leafs and felt that he was the right choice to become their new number-one goaltender. With Mike Smith constantly hindered by injuries and over 40 years old, the Oilers needed a new face to guide them.

Now entering his second year of a five-year $25 million contract, Campbell's numbers were abysmal, leading to his recent demotion to the Bakersfield Condors in the AHL to find his game.

This demotion imposed a cap penalty of $3.85 million on the Oilers for the next three seasons according to Capfriendly.com

This raises the question: Are the Oilers exploring the idea of buying out Jack Campbell's contract?

The Oilers would be eligible to buy him out on June 15th, 2024. The rule stipulates that a buyout would consist of 2/3 of the player's contract at his age. For Campbell, this means the Oilers would be on the hook for six more seasons with costs ranging between $1.1 million and $2.6 million throughout those six years.

The Oilers have several players, especially two of the highest-paid in the league, due for a contract extension during this time. Holland and his staff would have to juggle the idea of buying out Campbell for instant cost savings; however, it could have implications later.

On the other side of the argument is that the salary cap is expected to rise quickly over the next several years as the NHL and the NHLPA emerge from their post-COVID flat cap era. A $4 million jump is anticipated after this season is completed.

So, it's an intriguing idea. If the Oilers have no interest in retaining him and bringing him back from Bakersfield, would it be wise for Holland to buy out Campbell, even if it means taking a smaller but steady cap hit for the next six seasons?