One of the worst-kept secrets in hockey is over, as it was officially confirmed on Thursday (June 27) that Ken Holland will not be returning as the general manager (GM) of the Edmonton Oilers in 2024-25. He was in the final year of a five-year contract signed back in 2019, resulting in plenty of rumours swirling regarding his future in Edmonton.
This decision wasn’t a firing, but more so a mutual agreement to part ways. At 68, Holland sounds like he is contemplating retirement, which he has certainly earned after a fantastic and lengthy tenure as both a player and GM at the NHL level.
Despite some detractors, Holland did a solid job in Edmonton. He inherited a 25th-placed team in 2019 and wound up leading them to the playoffs in all five seasons he was in charge. There were some playoff failures along the way, but this year showed just how close he has this team to winning it all. Given the news of his retirement, here’s a look at some of the best and worst moves he made during his time in Edmonton. We’ll kick it off with the bad so that this piece ends on a positive note like he deserves.
The Bad
Campbell Contract was a Disaster
Following the 2021-22 season, it was painfully obvious that the Oilers needed an upgrade between the pipes. They had tried the following summer to sign Jacob Markstrom, but wound up losing out on that bid to the Calgary Flames, and instead ran it back with a duo of Mike Smith and Mikko Koskinen.
That duo simply wasn’t able to get it done for the Oilers, particularly in the postseason, and Holland knew he had to act. He attempted to fix the issue by signing Jack Campbell to a five-year, $25 million deal. The move had plenty of detractors at the time it was announced, but not even Holland’s biggest haters could have imagined it going as poorly as it has.
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Campbell became a backup to then-rookie goaltender Stuart Skinner in his first year of the deal, and made just five appearances this season before being sent down to the American Hockey League (AHL). The Oilers will try and find a team willing to take on his contract, but should they fail to do so, a buyout will be coming.
Nurse Extension Hurts and Will Continue To
Holland made some big mistakes when it came to Darnell Nurse. He first chose to sign him to a two-year bridge deal, his second such contract from the Oilers. This allowed him to reach unrestricted free agent (UFA) status, which bound Holland’s hands. Either he gave Nurse the money he wanted, or risked losing him for nothing in free agency.
Holland chose to give into Nurse’s demands, signing him to an eight-year, $74 million deal. The $9.25 million cap hit makes him the NHL’s eighth highest-paid defenceman, when in reality he isn’t even a top-two blueliner on the Oilers. This contract has already caused headaches and will cause even more when it comes time to negotiate deals for Connor McDavid and Evan Bouchard.
Kassian Debacle
In the final season of a three-year deal, Zack Kassian was having his best season with the Oilers. It was clear that he was going to get a raise from his then $1.95 million salary, but many in Edmonton felt it may be better to let someone else be the team to risk overpaying him. Holland thought differently, however, and signed him to a four-year, $12.8 million extension.
Kassian’s play took an immediate nosedive following the signing, as he managed just five points in 27 games in 2020-21, and 19 points in 58 games in 2021-22. Realizing that his best days were well behind him, Holland shipped Kassian to the Arizona Coyotes, but in order to get them to take on the contract, he also had to send a first-round pick in 2022, a second-round pick in 2024, and a third-round pick in 2025, while receiving only the 32nd overall pick in 2022 in return.
The Good
Hyman One of NHL’s Best Free-Agent Signings
It’s hard to believe now, but there were many questioning Holland’s decision to sign Zach Hyman to a seven-year, $38.5 million contract ahead of the 2021-22 season. Prior to the deal, he had 86 goals and 185 points in 345 games. Since joining the Oilers, he’s managed 117 goals and 214 points in 235 games.
Hyman isn’t just a success now, but is being looked at as one of the best free-agent signings in NHL history. Not even Holland would have envisioned it going as well as it has, but the fact he decided to pursue him as hard as he did needs to be recognized and applauded by Oilers fans.
Ekholm Trade Has Solidified the Blue Line
At last year’s trade deadline, Holland made a very bold move by trading Tyson Barrie, prospect Reid Schaefer, and a 2023 first-round pick in exchange for Mattias Ekholm. At the time, Barrie was the man running the Oilers’ top power play unit, and many were nervous about how it would fare in his absence.
It turns out Holland knew what he was doing all along. Not only has Ekholm been absolutely outstanding, but Bouchard took over power play duties and just put up a career-high 81 points. This trade was a massive win for the Oilers, and played a huge part as to why they were able to advance to the Stanley Cup Final this year.
RNH on a Bargain Deal
Though there were some ugly signings in the bad category, Holland has made his fair share of good ones as well. Hyman’s was undoubtedly the best, but one that often flies under the radar was the extension given to Ryan Nugent-Hopkins prior to the 2021-22 season.
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Holland was able to lock Nugent-Hopkins up to an eight-year deal, with a very team-friendly $5.125 million cap hit. Since signing it, he has registered 221 points in 225 games. If he were hitting the free-agent market this summer, he would have no problem securing a deal north of $7 million, proving just how good of a deal this was by Holland.
Oilers Are in a Great Spot
When Holland was brought into Edmonton, the organization and its fans hoped he had what it took to make the team a Stanley Cup contender. Despite some disappointments along the way, he has been able to do just that. Though there continue to be some naysayers, when looking back, it’s reasonable to say he was a pretty good GM for the Oilers.
