The Edmonton Oilers used up some of their cap space on Wednesday, signing winger Alex Formenton to a one-year, $850,000 contract.

The deal, according to PuckPedia, will be paid in full salary, with no clauses or conditions attached. The signing brings the Oilers to their 47th contract, three short of the 50-contract limit teams carry.

Edmonton is left with $1.073 million in cap space after the signing, according to PuckPedia, with Mattias Janmark, Matt Savoie, Alec Regula, and Frederik Andersen on the injured reserve. All four are expected to miss training camp and the pre-season with various injuries. Savoie and Andersen are expected to return in late October, though Savoie is believed to be able to return sooner than Andersen. Janmark and Regula remain unknowns, however.

The injuries have opened up the possibility for the Oilers to carry all eight defencemen they have on one-way contracts that would require waivers to be sent down, and for them to carry an extra forward, too. It, of course, punts the Oilers’ need to address the logjam down the road.

As it stands, however, the organization have given itself some flexibility when it comes to contracts. In the last number of years, the Oilers have been one of the most active teams in terms of signing free agents out of Europe and the college ranks. Keeping three roster spots open will allow them to be active in that market once again when next spring rolls around.

The Oilers will have two notable contract negotiations next summer, as Savoie and goaltender Devon Levi will become restricted free agents. Josh Samanski will also be an RFA. Edmonton will have eight NHLers become unrestricted free agents: Kasperi Kapanen, Janmark, Mathieu Joseph, Formenton, Spencer Stastney, Ty Emberson, Regula, and Andersen.

Zach Laing is Daily Faceoff Edmonton’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.

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