News came out this morning on social media that the Edmonton Oilers have placed defenceman Andrej Sekera on unconditional waivers for the purpose of a buyout.
The #Oilers buy out 33 y/o LD Sekera, had 2 Yrs $5.5M Cap Hit Remaining.
Buyout Cap Hit:
Yr 1: $2.5M
Yr 2: $2.5M
Yr 3: $1.5M
Yr 4: $1.5M
Saves $3M Cap Hit/year for next 2 years.https://t.co/nYmOJemQgr pic.twitter.com/omXBn4UdoY
— PuckPedia (@PuckPedia) June 30, 2019
Sekera is signed for two more seasons at a $5.5-million cap hit. A buyout will carry a cap penalty over the next four seasons.
Buying out Sekera immediately opens $3 million in cap space. The Oilers must have plans in free agency as they now have a little over $12 million to play with according to PuckPedia. Sekera is coming off another injury-plagued season after two significant injuries in back-to-back seasons.
Sekera was one of the Oilers’ best defencemen in 2015-16 and 2016-17. Unfortunately, an injury in the playoffs against Anaheim held him to just 60 games over the past two seasons. The Oilers have a somewhat crowded left side on defence with Oscar Klefbom and Darnell Nurse. A younger player like Caleb Jones now has a clearer path to an NHL spot.
The Oilers already have money dedicated to the buyouts of Benoit Pouliot and Eric Gryba, making another buyout less than ideal, however, it does afford Ken Holland and co more freedom to address the roster this summer. Gryba’s buyout ends after next season, while Pouliot’s extends to 2021.
SEKERA AS AN OILER