Oilers buy out veteran goaltender

The Edmonton Oilers have bought out the final three years of goaltender Jack Campbell’s contract, the team announced. Campbell will need to clear unconditional waivers before the buy out goes through. If it does, it will save the Oilers $3.9M in cap hit next season, and a cumulative $9M over the next three seasons, though they will then carry an empty $1.5M cap hit for three more years.

This move was one of the most anticipated as the buyout window rolled around, bringing a sudden end to the five-year, $25M contract Campbell signed in Edmonton just two years ago. It was the first high-value contract of his career, earned after he posted 31 wins and a .914 save percentage in 49 games with the Toronto Maple Leafs. That was Campbell’s first season as a full-time NHL starter, though he entered the year with a .918 save percentage in 86 career games through the previous five seasons – giving the Oilers a bit of solace as they looked to find their next starting goaltender.

That’s the position Campbell earned out of the gates, though he quickly began to show holes. Campbell posted a .876 save percentage through his first 15 games with the club – ultimately struggling enough to lose the starter’s role to rookie backup Stuart Skinner. Skinner held a tight grip on the role through the rest of the year, posting a .913 save percentage in 50 games and ranking second in 2023 Calder Trophy voting behind Matthew Beniers.

Skinner’s rise quickly ousted Campbell from the role he was being paid $5M to fill. The Oilers gave Campbell five games this season, but his .873 save percentage forced their hand – and he would go on to spend nearly all year buried in the minor leagues. 

Campbell did rediscover his groove in the AHL – posting 18 wins and a .918 in 33 games with the Bakersfield Condors. But that’s still far from the role Edmonton was hoping he’d fill, and Campbell will now find himself back on the open market. It will be interesting to see what roles team prescribe to Campbell as he looks to find a new home on the back of a career that’s seen him competently fill both starting and backup roles at every level.