Oilers Face Cap Issue as Holloway, Broberg Offer Sheet Targets

As the Edmonton Oilers navigate the complexities of the salary cap this offseason, they find themselves $354K over the limit with contracts still needed for restricted free agents (RFAs) Philip Broberg and Dylan Holloway. The looming threat of offer sheets for these two promising players is real, though the odds remain low. Nonetheless, the Oilers must create cap space, potentially involving demotions, trades, or placing players on Long-Term Injured Reserve (LTIR), to secure both Holloway and Broberg.

Last season saw both Holloway and Broberg earning roster spots during the final stretch of regular-season games. Holloway recorded seven points in 25 games and made some noise during the team’s playoff run. He made his presence felt with 86 hits and made it clear next season could be a campaign where he takes a big step.

Broberg, although only making appearances in the last few playoff games for the team, made a significant impact when he did. His playoff debut came in Game Four of the Western Conference Final against the Dallas Stars, where his performance suggested he could be a top-four defenseman for the Oilers in the future.

Did Broberg Get Noticed Enough to Be Offer Sheet Targets?

The potential of these two players makes them potential candidates for offer sheets from other teams. Offer sheets are rare, and can be risky for players who haven’t proven their potential yet, but they are a tool teams can use to pluck a future star from another roster.

Specifically, NHL insider Frank Seravalli has highlighted Broberg as a potential target. Appearing on Oilers Now, Seravalli outlined a scenario in which an opposing team might offer Broberg a six-year contract worth $4.5 to $5 million annually, aiming to put Edmonton in a difficult position. The Oilers might match, but then they’d have to make other arrangements on their cap and move a player or two out.

Seravalli explained:

“If I were an opposing team, I’d be targeting Philip Broberg. I think he proved with his play in the playoffs that he should have been in this lineup earlier. For whatever reason, that didn’t happen. This is a piece they need for a lot of different reasons moving forward. Not just for the youth he brings but also from a cap perspective, and his ability as we saw in the playoffs.”

It’s intriguing how the narrative has changed surrounding Broberg. It wasn’t long ago that many believed he was trade bait out of Edmonton, having not cemented himself a roster spot and with Vincent Desharnais winning a job over Broberg at camp. Has Broberg taken that big a step in just a year? Some, like Seravalli, think so, even if it was in December of 2023 that Seravalli was shooting down Broberg’s effectiveness and confidence.

Holloway Seems Less Likely a Target

Holloway, meanwhile, is finding his stride and is expected to be a key part of the team’s top nine forwards. His physical play and potential make him another attractive offer sheet target, though the Oilers are keen to retain him. He’s a bigger risk that a team isn’t probably willing to make a big pitch for. He’s yet to prove he is a forward who can play his way into a big contract and anything remotely fair, the Oilers would simply match.

The threat of an offer sheet to either or both players is potentially just that, a threat. Edmonton may get both signed prior to there really ever being a concern. But, to keep both players, the Oilers will need to make strategic moves to become cap-compliant. This could involve demoting other players, executing trades, or utilizing LTIR to free up the necessary space.

Next: How Are the Oilers Getting Cap Compliant?: 4 Possible Options