Edmonton Oilers sign defenseman John Klingberg. On Friday, defenseman John Klingberg and the Edmonton Oilers reached an agreement on a one-year deal. The contract has a prorated $1 million value and comes with a $350,000 signing bonus.
The 6-foot-2, 185-pound veteran of 11 NHL seasons has accumulated 412 points (81 goals, 331 assists) over 633 games and most recently secured a $4.15 million free agent deal with the Toronto Maple Leafs.
Before missing the entire season in November 2023 due to hip surgery, he only participated in 14 games and recorded five assists. For the last six months, he has been skating with a junior team.
Despite missing 14 months of action, Klingberg was the Dallas Stars’ top defenseman in the 2020 COVID-19 bubble playoffs in Edmonton, where he finished second on the team with 21 playoff points (four goals, 17 assists) and advanced to the Stanley Cup Final.
The 32-year-old defenseman from Gothenburg, Sweden, known for his puck-moving abilities as a right-shot on the blue line, provides the Oilers with an additional option. He could potentially replace Troy Stecher on the second pairing alongside Darnell Nurse.
Even though there are undoubtedly concerns about his health, the Oilers made a wise investment in Klingberg because they didn’t have to give up any assets to acquire him. Additionally, they have until the March trade deadline to assess his suitability. If not, they can always look for a defenseman who is more defensive.
The Oilers’ Salary Cap Strategy and Their Next Step Following Klingberg’s Contract
On Friday, defenseman John Klingberg signed a one-year contract worth $1.35 million with the Edmonton Oilers, which includes a $350,000 signing bonus. However, stating that his cap impact is $1.35 million in relation to the team’s overall cap for this season is not enough. His cap hit is actually $1.74 million, or even $1.75 million. Klingberg’s contract was not recorded today, according to PuckPedia. Tomorrow’s registration will result in a $1.75M cap hit.
Edmonton Oilers sign defenseman John Klingberg. How is that possible?
A $350,000 signing bonus, which NHL regulations compute at full value for cap purposes even on midseason deals, is the cause of this disparity. The remaining amount depends on whether the Oilers are on LTIR or not, as well as the value determined at the time Klingberg was signed for the season.
How Does the Cap Hit by Klingberg Operate?
The cap dynamics operate as follows: Klingberg’s cap hit is prorated according to the number of days left in the season if the Oilers are subject to the cap. This implies that, in comparison to the $1.74 million cap hit, the organization would only need to set aside roughly $824,000 in cap space for his contract.
For this to be applicable, the oilers must remain below the cap ceiling. This will include sending a contract or two off the roster and shifting some players down to the AHL.
The Oilers will have to pay Klingberg’s whole $1.74 million salary charge if they continue to use LTIR (Long-Term Injured Reserve), as they have done this season.
With Klingberg’s contract registered, the Oilers will have $3.15 million in leftover cap space under LTIR, assuming they don’t make any further roster moves, which they probably will.
Edmonton Oilers Sign Defenseman, What More Could the Oilers Expect?
The Oilers’ current strategy is to make sure they are under the cap if the goal is to spend more and have the most flexibility.
“Klingberg with a $1.7 million cap hit means one thing to me,” writes David Staples. Evander Kane’s absence from the regular season has been confirmed. which was already clear.
“He will be tested for six weeks to see if he can play,” says Jason Gregor of Sports 1440. If not, they can still sign another RD, who could be #7 or even go to AHL (which would cost about $600K on cap). “There is some risk, but not a major one,” he continues. A huge bonus if he performs well, but even in that case, I would still add another depth D.
On NHL Network, Kevin Weekes stated that he believes the Oilers want to add a defenseman. Klingberg may be a good pickup, but he doesn’t match the Oilers’ needs, which are for a more durable shutdown defensive end. Edmonton, in his opinion, will make sure they have the cap room required to acquire another player.
