Evander Kane Re-Signs With the Oilers, A Four-Year Extension

Evander Kane posted on social media, “I’m back”. The news being that he’s re-signed with the Edmonton Oilers on a four-year, $20.5 million extension. The news comes after reports from insiders like Darren Dreger, that Kane and the Oilers were still talking about a deal hours before free agency was set to open on Wednesday night.

He's back. ✔️

The #Oilers have signed Evander Kane to a four-year contract with an AAV of $5.125 million. @evanderkane_9 | #LetsGoOilers

— Edmonton Oilers (@EdmontonOilers) July 13, 2022

The deal breaks down as follows:

• Yr 1 750K Base & 5.5M SB
• Yr 2 $1.5M & 4M SB
• Yr 3 $2.75M & 2M SB
• Yr 4 $4M Base
• No Move to Feb 28, 2025, then 16-team trade list for the remainder

This is a smart decision by the Oilers as it keeps Kane motivated to get his bigger salary at the end of the term versus most of the money upfront. The knock on Kane was that he wouldn’t be motivated once he’d signed long-term and for bigger money.

Kane talked about his reasons for re-signing with the club in a social media statement. Among the reasons, he cited a chance to win, being grateful to the Oilers and that they allowed him the change to remind people who he really is as a person.

I’m back. pic.twitter.com/aBAw0dQlNL

— Evander Kane (@evanderkane_9) July 13, 2022

Darren Dreger wrote earlier on Tuesday: “Also interesting to note the Oilers back and forth with Evander Kane continues. Kane will go to market, but there have been recent discussions between the two sides.” Former NHL official Tim Peel was the source who tweeted that the Oilers had offered Kane a four-year deal. He has now provided an update and is saying the Oilers are willing to go as high as five seasons. It didn’t take the fifth year as the Oilers and Kane worked out a deal that fans in Edmonton are going to love.

There was a sense that perhaps Kane was starting to realize the market might not be what he thought it was. He was given permission by the Oilers to seek other options ahead of free agency, but the two sides kept talking. Essentially, it probably boiled down to the fact the Oilers wanted him, he’s a great player and was a fantastic fit with Connor McDavid, but he’s got a troubled past and only has 50 points once in the last ten years. Bob Stauffer of Oilers Now did say that he was told directly by Kane that winning mattered.

Former TSN 1260 host Paul Almeida points out, “There seems to be a willingness from both sides to try to come to a deal considering Kane’s agent was given the opportunity to gauge the market in advance.” Clearly, that came to fruition. Kane said in a statement that a big part of his decision to stick with the Oilers was because they were the one team that gave him a chance to restart his NHL career 7 months ago.

Next: Evgeni Malkin Signs 4-Year Extension With Pittsburgh Penguins