Edmonton Oilers re-sign Evander Kane to $5.125 million four-year AAV deal

Evander Kane is back.

He took to Twitter Tuesday night, just before the clock struck midnight, to announce that he was re-signing with the Edmonton Oilers.

The four-year deal will net a $5.125 million AAV and will keep him in Edmonton as the team looks set to compete for a Stanley Cup.

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“A big part of my decision to stay in Edmonton was because of the opportunity that was presented to me seven months ago, but also because of the opportunity to be part of a championship team,” Kane wrote. “I want to win and I believe that after signing this deal we will be able to add the right pieces together with myself to achieve that goal, a championship.

“See you in the fall.”

In recent days, reports have surfaced that Kane may be seeking a deal that would pay him more than $40-$50 million in total compensation. On Monday, meanwhile, the Oilers allowed Kane and his agent, Dan Milstein, to speak with other teams ahead of the free desk opening Wednesday.

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Edmonton remained steadfast in their desire not to lock up Kane on a long-term deal and have struck a team-friendly deal for the player who quickly became an important member of the team.

Kane’s contract is heavily fraught with signing bonus’ early in the deal, puckpedia reported Tuesday evening. Here’s how the deal falls apart, according to them:

Year One – $750,000 Salary + $5.5 Million Signing Bonus
Year Two – $1.5 Million Salary + $4 Million Signing Bonus
Year Three – $2.75 Million Salary + $2 Million Signing Bonus
Year Four – $4 Million Salary

Kane has a no-move clause until February 28, 2025 – just before the trading deadline in the third year of his contract. At that point, Kane will submit a trading list of 16 teams. The deal is structured to protect the Oilers as well. Should things get worse by the latter part of the contract, the Oilers could close the final two years of his deal at an annual cost of $1.25 million, or the final year at an annual cost of $1.33 million. .

But no one is focused on that.

Now the sights are shifting to winning a cup in Edmonton as soon as possible. Kane joined the Oilers in late January of this year on a pro-rata, one-year deal. He had his contract with San Jose Sharks terminated due to a breach of contract. A termination complaint awaits consideration by an arbitrator.

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Kane didn’t settle in right away, bouncing between linemates before finally finding a home alongside Connor McDavid and Jesse Puljujarvi. By the end of the season, Kane had played in 43 games for the Oilers, scoring 22 goals and 39 points. Come the playoffs, his game has been taken to another level. In 15 playoff games, he scored 13 goals and 17 points as the Oilers deepened into the Western Conference Finals.

All in all, this is a fine piece of work by Ken Holland and co. As mentioned above, they held up over the life of the contract and reduced the dollar value to a friendly amount. In addition, the contract is also structured towards a team-friendly country house.

Let’s see what he can do in year two with the Oilers.

Zach Laing is the Nation Network’s news director and senior columnist. He can be followed on Twitter at @zjlaingor can be reached by email at [email protected]

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