The Edmonton Oilers have signed goaltender Frederik Andersen to a one-year contract.

Andersen’s deal will carry a $1 million cap hit with $1.8 million in performance bonuses, according to PuckPedia. 

The bonuses are tied to games played both in the regular season and in the playoffs. Andersen, 36, will receive a $600,000 bonus for playing 10 games, a $400,000 bonus for playing 20 games, while receiving $200,000 for each playoff round won where he played at least 50 per cent of the games, PuckPedia reported. The deal comes with a 15-team no-trade list.

Insider Kevin Weekes was first to report the signing.

Andersen, 36, is fresh off his first Stanley Cup championship after hoisting Lord Stanley’s mug with the Carolina Hurricanes. While he struggled in the regular season, posting a 16-14-5 record, a .874 save percentage, and a 3.05 goals-against average, he turned things around in the playoffs in a big way, posting a 13-2 record, a .910 save percentage and a 1.89 goals-against average.

The Oilers will be the 13-year veteran’s fourth NHL team, following stints with the Anaheim Ducks, Toronto Maple Leafs and the Hurricanes. Drafted by the Hurricanes in the seventh round of the 2010 draft, he went unsigned and reentered the draft in 2012, where the Ducks selected him in the third round.

The Danish netminder made his NHL debut there in the 2013-14 season, where across three years he posted a 77-26-12 record, a .918 save percentage, and a 2.33 goals-against average. He was traded to the Maple Leafs in June 2016 for a first- and second-round pick, where he grew into a workhorse for the Leafs. Across five seasons, he posted a 149-74-36 record, a .914 save percentage and a 2.79 goals-against average, and played under new Oilers head coach Mike Babcock for the first four years there. The Leafs let him walk in free agency, and on July 1, 2021, he signed with the Hurricanes, posting a 98-49-10 record, a .906 save percentage and a 2.46 goals-against average across the last five seasons.

Andersen, however, has struggled to stay healthy in the last three seasons, playing 16 games in 2023-24, 22 games in 2024-25, and 35 games last year. He dealt with blood clots in the 2023-24 season, a knee injury in the 2024-25 season, and this season was limited due to a concussion. Andersen dealt with a knee issue during Game 2 of the Stanley Cup final, paving the way for Brandon Bussi to help close out their six-game series against the Vegas Golden Knights.

Despite that, Andersen has shown to be one of the better goaltenders in the league when healthy. Since he debuted, his 122.41 goals saved above expected, according to Hockey Stats, ranks third among all goalies behind only Igor Shesterkin and Connor Hellebuyck. Among goaltenders who have played half as many minutes as him since signing in Carolina, only eight goaltenders have saved more goals above expected than him: Juuse Saros, Logan Thompson, Jake Oettinger, Linus Ullmark, Andrei Vasilevskiy, Ilya Sorokin, Hellebuyck, and Shesterkin.

The Oilers will surely hope Andersen can stay healthy for the team this season to provide the quality he had for the Hurricanes, but his acquisition will be insulated with Edmonton’s acquisition of Devon Levi earlier in the day.

Oilers Now’s Bob Stauffer reported the Oilers are expected to carry Andersen, Levi, and Tristan Jarry on the NHL roster next season.

Zach Laing is Oilersnation’s managing editor and The Nation Network’s news director. He can be followed on X at @zjlaing, or reached by email at zach.laing@bettercollective.com.