Oilers sign Ryan McLeod to 1-year contract extension

The Edmonton Oilers signed center Ryan McLeod to a one-year extension worth $798,000, the team announced Thursday.

Last season, the 23-year-old tallied nine goals and 21 points through 71 games.

☁️ 𝗖𝗟𝗢𝗨𝗗𝗘𝗥 𝗖𝗢𝗡𝗧𝗥𝗔𝗖𝗧 ☁️

The #Oilers have signed forward Ryan McLeod to a one-year extension worth $798,000.

— Edmonton Oilers (@EdmontonOilers) September 22, 2022

The salary, while much lower than expected, gives the Oilers more cap flexibility. Though McLeod wanted more, ideally closer to the $975,000 salary his brother, Michael, makes with the Devils, the deal allows him to start camp on time. It’s a case of short-term pain for potentially long-term gain.

Advertisement

“I didn’t want to come back in maybe a couple weeks later with maybe a bit more money,” McLeod said. “I just don’t think it was really worth it. If we have a good year, it’s going to work out for a reason.”

This illustrates the Oilers’ cap situation quite well, too.

While the team wanted to give him a longer-term contract, which would have carried a bigger cap hit but more cost certainty in the years ahead, the two sides couldn’t make it work. The Oilers are pressed so tightly against the salary cap that they’ll likely have to start the season with a 21-man roster unless a trade is made to clear some space.

In signing McLeod to such an economical deal, the Oilers now have a tiny bit more flexibility when declaring their opening roster. But McLeod, who Edmonton views as a top-nine player now, could benefit with a big season when it’s time to negotiate another contract next summer.

Great work by @PuckPedia on the Oilers' cap situation, showing why McLeod's $798,000 salary helps.

EDM will be $165 under the cap w/ a 21-man roster w/:
– Holloway, Broberg, Malone, & Murray on the team
– Samorukov, Shore, & one of Janmark/Ryan waived

— Daniel Nugent-Bowman (@DNBsports) September 22, 2022

(Photo: Isaiah J. Downing / USA Today)