Edmonton Oilers sign Ryan McLeod to one year, $798k contract

The Edmonton Oilers have signed center Ryan McLeod to a one year contract with a $798,000 cap hit.

McLeod was a restricted free agent after finishing up his three year entry-level contract at a cap hit of $834,167 with the Oilers, meaning he also had zero arbitration rights during the negotiations for his new deal. His new contract will still leave him as an RFA, however he will have arbitration rights at the end of this deal. His $798k cap hit is also less than the qualifying offer from his previous contract, showcasing the crunch the Oilers have to do with every contract to get under the salary cap.

McLeod was a second round pick for the Oilers in 2018, and is coming off his first full season in the NHL. He impressed in his 72 games, with nine goals, 12 assists, and 21 points on the year, all career highs for him, although he had just one assist in 10 games in what was his only previous NHL experience last season.

McLeod proved to be even more valuable on the defensive side of the ice, establishing himself as a strong defensive forward in his minutes, which isn’t something you see from a rookie. He finished the season with a 53.57% shot attempt share and 47.44% expected goal share at even strength, although his expected goal numbers are weighed down from his time alongside Leon Draisaitl, who despite elite point totals has struggled in that regard throughout his career.

With this signing, the Oilers have taken care of their final RFA of the offseason, as they also had to sign Kailer Yamamoto and Jesse Puljujarvi to new contracts as well. They also had to re-sign Evander Kane and Brett Kulak, and notably brought in Jack Campbell on a five year deal in free agency, along with Mattias Janmark, Ryan Murray, and Devin Shore, and also have Jason Demers and, more controversially, Jake Virtanen with them during training camp on professional tryouts.

The Oilers will still need to find a way to make cap space, as they are over the salary cap, even with both Oscar Klefbom and Mike Smith on long-term injured reserve for the season. Both Puljujarvi and Tyson Barrie has been in trade rumours as a solution to make space.