Ken Holland’s time as general manager of the Edmonton Oilers has come to an end.
Three days after losing in Game 7 of the Stanley Cup Finals, the Oilers confirmed the long-held belief that they would not renew the Hall of Fame executive’s contract, which was in its final month.
Oilers CEO of hockey operations Jeff Jackson said the decision not to extend Holland’s contract was mutual.
“Over the past five seasons as general manager, Kane has not only built the Edmonton Oilers into one of the best teams in the NHL, he has also established a deep foundation of success and a winning culture that will continue into the future.” Jackson said in a statement Thursday. “Thanks in large part to Ken’s outstanding work, Edmonton has become a destination city for players from around the National Hockey League.”
Holland’s future with the Oilers had been in question for several months, but speculation intensified during the team’s playoff run.
Before joining the Oilers in May 2019, Holland, 68, had been with the Detroit Red Wings for 34 seasons in several roles, including general manager since the 1997–98 season. The team would win three Stanley Cups with Holland, who was inducted into the Hockey Hall of Fame as a builder in 2020.
He left the Red Wings after being promoted to senior vice president, allowing Detroit to hire then-Tampa Bay Lightning GM and former captain Steve Yzerman as their GM.
With a pair of 100-point scoring generational talents in Leon Draisaitl and Connor McDavid, the Oilers hired Holland with the purpose of building a roster that would allow them to win their first Stanley Cup since 1990.
He gradually complemented the Oilers’ roster by adding forwards such as Warren Foegele, Zach Hyman, and Evander Kane. Hyman became the first player to score 54 goals this season, while injury-plagued Kane scored 24 goals for his ninth 20-goal campaign this season. Foegele scored a career-high 20 goals and 41 points this season.
The Oilers strengthened their defense by adding Cody Ceci, Mattias Ekholm and Brett Kulak to provide stability to a group that was in a constant state of flux.
This is a group that would also include homegrown talents of the time such as Evan Bouchard, Vincent Desharnais, Ryan McLeod and Stuart Skinner.
Even though the Oilers reached the playoffs in all four of Holland’s seasons, he still faced questions about reaching his ultimate goal of winning the Stanley Cup.
Holland’s second season in charge created optimism and hope that the Oilers were closer. They reached the Western Conference Finals but lost to the eventual Stanley Cup champion Colorado Avalanche.
A year later, they lost to the eventual champion Vegas Golden Knights in the Western Conference Semifinal round.
The Oilers faced even more questions early this season when they started out with a 2–9–1 record. This led them to fire coach Jay Woodcroft and hire Chris Knoblauch. The decision to hire Knoblauch and his staff – which included Hall of Fame defenseman Paul Coffey – led the Oilers to go 46–18–5 in their final 69 games.
It was the NHL’s best record since November 12, 2023, the day Knoblauch was hired.
Holland added forwards Sam Carrick and Adam Henrique at the trade deadline with the intent being that those acquisitions could help the Oilers emerge in a challenging Western Conference landscape.
They began with a five-game first round series win over the Los Angeles Kings before defeating the Vancouver Canucks in a seven-game series in the second round. The Oilers lost 2–1 against the Dallas Stars and advanced to the Western Conference Finals, where they reached their first Stanley Cup Final since the 2005–06 season.
The Oilers were on the verge of defeat only to win the next three games to set up a dramatic winner-take-all Game 7, which would have made them the second team in NHL history to come back from a 3–0 deficit. In a cup final.
Ultimately, the Oilers lost 2–1 after Sam Reinhart scored with less than five minutes left in the second period, giving the Panthers a lead they would not relinquish.
The Stanley Cup Final loss raised questions about their future and whether Holland would be a part of it.
Whoever the Oilers hire to take over from Holland will inherit a roster that is still within its championship window. But there are several issues to consider as free agency begins Monday.
CapFriendly estimates the Oilers will have $10.033 million in cap space at a time when they have 10 unrestricted free agents. It’s a free agent class that includes seven forwards like Foegele. They have two pending restricted free agents in forward Dylan Holloway and defenseman Filip Broberg, both of whom made significant contributions in the latter stages of the Oilers’ Cup run.
This leaves the Oilers with only seven forwards, five defensemen and two goaltenders currently under contract.
How the Oilers approach free agency also comes with the understanding that this could be the most sensitive year of the Draisaitl-McDavid era. The 28-year-old Draisaitl is entering the final season of his contract, which could force him to hit the open market if he doesn’t re-sign.
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