Expert Ranks 2 Oilers Deals Among NHL’s Worst — But Are They?

The Edmonton Oilers are notorious for giving out contracts that, at the time, are looked at with a scrunched-up face. Back in 2008, we all saw Shawn Horcoff get his six-year, $5.5 million AAV deal that ended up being mocked. We watched as Nikita Nikitin got $4.5 million AAV in 2014 when Craig MacTavish was going “bold”. We were all there when Ken Holland signed Darnell Nurse to the eight-year, $9.25 million AAV monstrosity that likely was the reason the Oilers didn’t win the Cup the last few years.

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Lately, the times appear to be changing. Connor McDavid is signed to the best deal in the league at $12.5 million AAV, not taking a single cent raise. Zach Hyman is a steal at $5.5 million AAV. Evan Bouchard getting $10.5 million AAV and posting a 95-point season is insane value, especially as more deals get signed. Leon Draisaitl at $14 million AAV is looking more and more like an absolute steal. The list goes on throughout the lineup, with Vasily Podkolzin, Frederik Andersen, Ryan Nugent-Hopkins, and Mattias Ekholm.

All in all, the Oilers do not have a lot of bad contracts on the books for the first time in a long while.

Expert Says Oilers Have Two of the Worst Contracts

Analytics expert Dom Luszczyszyn recently came out with his annual top 10 list of the NHL’s worst contracts. Nurse used to be a mainstay on lists such as this, and there is no argument from Oilers fans. However, the narrative seems to change quickly when the player is not on the Oilers.

On Luszczyszyn’s list are two names which have become very polarizing figures around Edmonton.

Trent Frederic

Trent Frederic was acquired at the 2025 trade deadline, was hurt on arrival, and continued to play partially hurt all the way to the Cup Finals. He didn’t provide much punch, whether scoring or literal punches, and did not contribute a whole lot overall. The player is better than what he showed, and Stan Bowman committed heavily, giving him an eight-year, $3.85 million AAV contract in the offseason.

Frederic would end up only scoring four goals and ending the 2025-26 season with seven points in 74 games. Signing bottom-six forwards to long-term commitments has always been a risky bet, and this contract ends up 6th on the list.

Jake Walman

Jake Walman was acquired on the same day as Frederic. The defenseman came in and immediately impacted the blue line, providing strong puck-moving skills and excellent analytics. He changed the look of the backend, pairing up with John Klingberg to form an extremely effective duo through the end of the season and into the playoffs.

Walman was awarded a seven-year, $7 million AAV deal, which was looked at mostly positively. After a tumultuous and injury-riddled 2025-26 season, where Walman only played 53 games and struggled mightily, this contract is raising eyebrows and ended up 7th on the list.

Are They Actually Bad?

The real question is whether the contracts are actually that bad.

On paper, the Frederic deal looks damning. Too long a term. Too much money. Just too much. When you take a step back, however, $3.85 million AAV is not as salary cap-breaking as it feels. With the cap rising, a lot of bottom-six forwards are and will be getting deals in the $4-6 million AAV range. While playing on a line with Colton Dach and Josh Samanski, Frederic did show flashes last season. He was the type of player the Oilers could heavily use. He was hitting, sticking up for his teammates, and contributing the odd point here or there. I also think with a new coaching staff, Frederic is one of the top Oilers to watch this upcoming season and could be a strong bounce-back candidate. He will be heavily motivated to prove he still has what it takes and try to force his way up the lineup. If he doesn’t, Mike Babcock might ensure he doesn’t see much ice.

Walman’s deal is actually quite solid, especially if he can play anywhere near the level he did after being acquired in 2025. He was dealt a tough hand last year, being forced to play his off-side to try and help out the $9.25 million Nurse. Ex-coach Kris Knoblauch continually bounced him from his off-hand to his strong side, which Walman has admitted in the past he did not want. ‘Tell me where I’m playing, and play me on that side,’ he indicated. Knoblauch, however, did not oblige.

Walman also began the season sidelined after suffering an undisclosed injury in the first preseason game. Initially labeled day-to-day, the issue ultimately kept him out for a month. He returned and played 17 games but struggled to find consistency before blocking a shot that resulted in a deep bone bruise, sidelining him for another six weeks.

Between the injuries and frequently shifting partners on both sides, Walman never fully settled into his game. With the salary cap rising, a $7 million AAV for a strong second-pairing defenseman is becoming the new normal. Given better health and stability, Jake Walman looks like a strong bounce-back candidate for the upcoming season.

Luszczyszyn’s list isn’t entirely wrong. Frederic might end up falling down the lineup and ending up in healthy scratch territory. Walman, oft-injured, might continue to struggle through the injury bug and never quite get up to speed. However, I do believe these contracts are not worthy of this list given Frederic’s lower AAV and the down season Walman is coming off of.

Next: In Hindsight: The Quiet Trade Costing the Oilers a Top Defender