Contract Negotiations Between Oilers and Mike Smith Hit Potential Snag

While most insiders believe Mike Smith will be back with the Edmonton Oilers for at least one more season, there are a few updates this weekend that make a contract extension anything but a slam dunk. A couple of reports specifically mention there might be some hold up in a new deal and money and term could be a potential problem hurdle.

First, David Pagnotta of The Fourth Period notes, “Contract negotiations between the Oilers and G Mike Smith are ongoing. I believe an offer has been tabled by the Oilers, but Smith’s camp will likely counter.” He adds, “Also hearing EDM has been exploring the goalie trade market, which may have more to do with a possible Koskinen buyout.”

From the sounds of what Pagnotta is reporting, the Oilers are talking to Smith, but aren’t putting all their eggs in his basket. A guaranteed deal at a certain price point certainly doesn’t sound like a given. While the two sides chat about an extension, the team is looking around the league and considering all of their options. This could include Mikko Koskinen going elsewhere and it might not.

Meanwhile, Elliotte Friedman reported in his 31 Thoughts article (there were actually 33) from Friday evening: “It sounds like they are juggling multiple balls, from Mike Smith to someone younger.” Could this be the Oilers taking a look at a couple of their own prospects? Stuart Skinner had a strong season in the AHL. Ilya Konovalov was is a KHL netminder coming over to North America that should get a long look. Or, is this a sign that Edmonton is looking to address their goaltending needs via trade or free agency? There may be a few goalies out there the Oilers have an eye on.

Smith Returning Is Not a Given

There is a lot of assumption that a deal between Smith and the Oilers will just get done. It certainly might. But, to assume Smith will walk into any offer the Oilers make is probably a mistake. He had a whale of a 2020-21 NHL season and he’s 39 years old. There aren’t going to be a ton of opportunities to make good money on the open market for this player. This summer might be one of them.

If there’s a sticking point, it’s probably the money. Smith carried an AAV of $2,000,000 in 2020-21, but had his best season in a decade. Smith went 21-6-2 with a .923 save percentage and a 2.31 GAA. Those numbers suggest he’s worth a good chunk more than that. He could potentially make earn a one-year contract worth $3,000,000. and be offered guaranteed money and less bonuses on his next deal by another team.

Meanwhile, the Oilers understand that Smith is not a long-term solution for Edmonton. It’s even questionable that he can reproduce the same kind of season he did last year. Fans in Edmonton have learned not to bet against him, but that’s a far cry from the Oilers ruling out other options.

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