Erik Cole an Oiler (for Pitkanen)

He’ll make $4M and then he’s UFA.

Erik Cole is a stud, no doubt. He’s a quality NHL player and Desjardins’ suggests he played against tough opponents and with middle-to-good linemates.

It’s a lot to give up (and plenty of future) but as a straight up NHL deal it makes a ton of sense for this team at this time.

Bob Stauffer is reporting on TEAM 1260 right now that they probably won’t sign him, allowing Cole to feel out the lay of the land (and new ownership) before making a decision on him toward the deadline.

Here’s the roster updated:

  • GOAL: Mathieu Garon (1.1M), Dwayne Roloson (3.67M)
  • LEFT DEFENSE: Sheldon Souray (5.4M), Denis Grebeshkov (1.5M), Ladislav Smid (.886M)
  • RIGHT DEFENSE: Lubimor Visnovsky ($5.6M), Tom Gilbert (4M), Steve Staios (2.7M), Mathieu Roy ($.500M)
  • CENTER: Shawn Horcoff (3.6M), Sam Gagner (1.625M), Andrew Cogliano (1.133M), Kyle Brodziak (.497M)
  • LEFT WING: Dustin Penner (4.25M), Erik Cole (4M), Ethan Moreau (2M)
  • RIGHT WING: Ales Hemsky (4.1M), Robert Nilsson (1.833M), Fernando Pisani (2.5M)
TOTAL SIGNED PLAYERS: 19
TOTAL DOLLARS SPENT: $50,894,000
CAP: $56,700,000
DOLLARS AVAILABLE: $5,806,000
SPOTS AVAILABLE: 4

The 4 slots could go to Reasoner ($1M), Pouliot ($1M), Stortini ($.750M) and Schremp ($.860M) and that would put the 23-man roster at $54,504,000 and give the team a couple of million to spend somewhere during the season.

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298 Responses to "Erik Cole an Oiler (for Pitkanen)"

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  1. Jonathan says:

    Alex Auld signs a 2yr/1M dollar contract with Ottawa. That is a great signing.

  2. Aram Dellalian says:

    i’m late in getting here…but mannnnn i’m ecstatic for this trade. Sad to see Raffi go, of course…but ’09 is gonna be a blast.

  3. Jonathan says:

    Sorry, 1M/year, not 1M total. Still a nice signing.

  4. danny says:

    Heres the best description ive found through google:

    Side deals are not allowed. Teams cannot circumvent the salary cap by paying players through other means – such as gifts, reimbursements on expenses, personal deals, money redirected through related corporate entities, seperate contracts for marketing and promotion, etc.

  5. Lord Bob says:

    So, Danny, no mention on paying people who aren’t the player? Is that what you’re saying? I bet Mrs. Hossa would like a few million in pocket money… :P

  6. Coach pb9617 says:

    Coach: Work with us on this one. Best of luck to the Calgary Flames this playoff season.

    Oh. Yeah.

    I HATE YOU BROOKS ORPIK! STAY OUT OF ALBERTA!

  7. gary b says:

    the revolving door continues… Lalime to Buffalo

  8. andy grabia says:

    Side deals are not allowed. Teams cannot circumvent the salary cap by paying players through other means – such as gifts, reimbursements on expenses, personal deals, money redirected through related corporate entities, seperate contracts for marketing and promotion, etc

    You can be damn sure he’s selling him on some fancy stuff in a brand new arena/locker room, though.

  9. Coach pb9617 says:

    You can be damn sure he’s selling him on some fancy stuff in a brand new arena/locker room, though.

    Hookers and blow?

  10. spOILer says:

    A really unconfirmed rumour:

    OilFans reports someone called into Team 590 with the story that the Oil ave a deal in place with Habs: Nilsson & Roli for Halak.

    The Hossa rumours intensify…

    Is it possible we might have a top 6 like this:

    COLE HORC HOSSA
    PENNER GAGNER HEMSKY

  11. Lowetide says:

    It’s Edmonton! What else?

  12. danny says:

    Katz is going to start sending Gold Rolexes to the pro-oiler bloggers. Tyler gets a visit from the tax auditor.

    Katz just shut down HFBoards to try and get Dennis on their good side.

  13. Mike says:

    OMG! Eklund has Hossa to Edmonton as an (E4)!

    That must mean it’s already … BA HA HA AH HA HA Sorry. Couldn’t even finish that sentence.

  14. pboy says:

    Bullshit artist Eklund is reporting that Hossa is VERY close to signing with Edmonton. Shockingly, he hasn’t bothered to explain how we would fit Hossa in our budget………

  15. Lord Bob says:

    Dammit. I was looking forward to getting Hossa, too. But Eklund’s endorsement is as final as a bullet to the back of the head.

  16. danny says:

    How about signing Hossa to a ridiculously long, 12 year front loaded contract, with every intention of buying out the final 5 years of this deal?

    That would circumvent the cap no?

  17. Lord Bob says:

    Incidentally, Montreal’s right wingers are Alex Kovalev, Andrei Kostitsyn, Guillaume Latendresse, Tom Kostopoulos, and Dandenault. So where Bobby Nilsson would fit in there beats me.

    C’mon, fake rumour guy on the FAN! Do your research!

  18. PDO says:

    VAUUUUUUUUUUUUUUUUUUUUUUUUUUUUNT

  19. mc79hockey says:

    I don’t see how getting rid of Roli opens up enough money for Hossa. The Oilers need to get to $47MM to make that happen. Getting rid of Roli might save $2.5MM – that doesn’t get it done.

    I’d think Penner/Souray have to go for Hossa to come to E-town.

  20. Mike says:

    Also…quite a bit of Penner bashing here. He doesn’t fit in here? Odd man out on this squad? Square peg round hole?

    Agreed he has yet to play up to that contract but did he not lead the team in goals last year?

  21. Master Lok says:

    Seems to me that Lowe gave up the wannabe’s for the Real Deal.

    Pitkanen is the wannabe. Visnovsky is the proven real deal.

    Torres is the wannabe. Cole is the proven real deal.

    Stoll is the wannabe. Will we get a 3rd line centre real deal?

    Greene was also a project. But we have the depth on defense.

    Brule is a project.

  22. PDO says:

    MC… if getting Hossa gets us rid of Souray, it instantly becomes three times the deal.

  23. Tyler says:

    Agreed he has yet to play up to that contract but did he not lead the team in goals last year?

    Mainly because he managed not to get hurt.

  24. danny says:

    120M over 15 years contract. Average cap hit 8M. 15M per season for first 7 seasons. 25M on the final 8 seasons… They buy Hossa out when he turns 38.

    Must be illegal. too easy. Nevermind.

  25. Jonathan says:

    120M over 15 years contract. Average cap hit 8M. 15M per season for first 7 seasons. 25M on the final 8 seasons… They buy Hossa out when he turns 38.

    Can’t pay Hossa more than league maximum in any of the years. Additionally, the lowest year in the contract can’t be less than 50% of the highest year.

  26. Steve says:

    Pierre Maguire explaining how our defensemen will result in a much better power play this year:

    1. Visnovsky
    2. “Tom Gilbert’s going to be a year bigger. And better.”
    3. “Steve Staios is back for another year.”

  27. danny says:

    makes sense

  28. Lowetide says:

    Steve: It’s like poetry, isn’t it? Pierre’s wife must wear a wind sock.

  29. Devin says:

    Can’t pay Hossa more than league maximum in any of the years. Additionally, the lowest year in the contract can’t be less than 50% of the highest year.

    Close, the first part is right. However, paraphrasing Mirtle: if you take the first two years of contract, the higher salary in those two years can’t be more than double of the lower salary. After that, the salary can’t fluctuate up by more than 100% of the lower salary and can’t fluctuate downward by more than 50% of lower salary. That is, from year to year.

    An example is Danny Briere’s contract where he starts at 10M and ends at 2M. Legal.

  30. therealdeal says:

    If Eklund is reporting it as close that means it’s as far away from happening as is possible.

  31. Coach pb9617 says:

    Pierre’s wife must wear a wind sock.

    Makes sense, considering that Pierre is some other kind of sock.

  32. Jonathan says:

    Close, the first part is right. However, paraphrasing Mirtle: if you take the first two years of contract, the higher salary in those two years can’t be more than double of the lower salary. After that, the salary can’t fluctuate up by more than 100% of the lower salary and can’t fluctuate downward by more than 50% of lower salary. That is, from year to year.

    I stand corrected ;)

  33. godot10 says:

    //I seem to recall that Torres – Peca – Pisani line having quite an impact on the 05-06 playoffs. Even removing his very accomplished linemates, Torres was a major factor, just by virtue of his hits on Doug Weight and Milan Michalek.//

    Peca knew the “magic words” to make Torres go. Peca has to play within commuting distance to Buffalo.

    Without Peca, Torres is no great loss.

  34. Black Dog says:

    If they sign Hossa then they will find a way to make it work.

    Crazy.

    Going back outside. Beer beckons.

  35. godot10 says:

    //I like Cole, but would have hoped for a signed Cole in return so in that way it’s a “win this year” trade which I think we can agree is a longshot.//

    The money for Horcoff and Cole is sufficiently large that it won’t be a money decision, but a quality of life and quality of hockey decison.

  36. Lord Bob says:

    Man, Milbury and McGuire are jacked up over Lowe’s moves today.

    I guess what I’m saying is: hello, John Tavares. :(

  37. danny says:

    So… how about a 16 year deal.

    11M for 7 seasons
    5.5
    2.75
    1.5
    1.0
    1.0
    1.0
    1.0
    1.0
    1.0
    —–
    92.75M / 16 years = 5.8M cap hit

    Does that break the rules? Buyout after season 8 is 7.5M payable over 14 years… 500K cap hit for that duration.

  38. jd says:

    Who does Lowe dump to fit 9 million in payroll after adding a million today? Would be a gross oversight if he brings in Hossa….

  39. godot10 says:

    //I agree that Visnovsky is a non-trivial upgrade on Pitkanen, but he is signed for big money until he dies, which I find to be slightly concerning.//

    The Katz advantage over the EIG is that the Oilers now have the funds to buyout contracts if necessary.

    Souray becomes a very tradeable quantity after next season because of the front loading of his contract, and the buyout after next season is only $10 million.

  40. Diamond_Joe_Quimbey says:

    After hearing the conference call with Cole today, I love the trades. I’m hoping that he will want to extend, too.

    I’m not too much of a rumour monger, but I’ve heard too that some “off-ice” things with Torres/Stoll were really impacting their play.

    After seeing some of the signings today, are Roli/Souray tradeable?

  41. PDO says:

    Sounds like Campbell is a Hawk.

  42. Lowetide says:

    Best case scenario, the Oilers would trade:

    1. Roloson 3.667M (replace w/JDD approx. $550k)

    SAVING: $3.1M

    2. Souray $5.4M (replace w/Theo Peckham $600k)

    SAVING: $4.8M

    TOTAL SAVING: $7.9M

  43. Diamond_Joe_Quimby says:

    Campbell to Chicago? Bob Mackenzie just reported it.

  44. Jonathan says:

    The Katz advantage over the EIG is that the Oilers now have the funds to buyout contracts if necessary.

    I don’t like the idea of buying big contracts out- it feels too much like the Rangers of years past buying up everything without really considering the likelihood of the player living up to his contract. I’m not saying this is Visnovsky’s situation, but I don’t like the idea in general.

  45. mc79hockey says:

    $56.8MM for Campbell in Chicago over eight years according to MacKenzie. That’s a hell of a lot of money. They might slide past Nashville this year.

  46. goldenchild says:

    LT whats the worst case scenerio? I’m guessing it starts with Horcoff out, Schremp in

  47. PDO says:

    I called Chicago to be a playoff team this year a couple months ago..

    Not even a doubt any more.

    Wonder if they can move Khabibulan though? They’re over the cap right now…

  48. Lowetide says:

    I guess you COULD find another way, like dealing Penner off for a role player but bottom line is that at least two positions will be heavily affected and I don’t think they can get around keeping Hossa AND the ROloson and Souray contracts.

    One of them has to go, even if it’s Roloson and the 2009 1st rd pick for a 2009 2nd rd pick or some such.

  49. Jonathan says:

    $56.8MM for Campbell in Chicago over eight years according to MacKenzie. That’s a hell of a lot of money. They might slide past Nashville this year.

    Well at least they dont have 12 million tied up in goalies next season- oh wait…

  50. PDO says:

    How desperate did SJS just become for a D?

  51. godot10 says:

    //The bad – Cole’s contract and the fact that we are relying on Moreau to play in the top nine by the looks of it. That won’t work out.//

    How so?
    Penner, Horc, Hemsky
    Nilson, Cogliano, Gagner
    Cole, Brodziak, Pisani
    (Flip Cole and Penner if you wish.)
    The kid line gets soft minutes. The other two handle the hard. And Moreau, Pouliot, and Stortini is a pretty good 4th line in the NHL.

  52. Lowetide says:

    One-Half Finger desperate.

  53. Promethian says:

    I was perusing http://www.nhlnumbers.com and saw that Dustin Penner was listed as a centre. This is a mistake of course as we all know that Penner has always played LW but got some action as a C last year.

    But what if Penner played C? Does he have the footspeed? Can he check or pass effectively enough to play up the middle? Not sure, maybe if he arrived to camp in great shape.

    Hmmm…still, imagine a 6’4″ 245lbs. centre in our smallish forward group.

    How about a soft minute:
    Nilsson – Penner – Gagner

    Or perhaps even a checking:
    Moreau – Penner – Pisani

    ???

  54. Jonathan says:

    How so?
    Penner, Horc, Hemsky
    Nilson, Cogliano, Gagner
    Cole, Brodziak, Pisani
    (Flip Cole and Penner if you wish.)
    The kid line gets soft minutes. The other two handle the hard. And Moreau, Pouliot, and Stortini is a pretty good 4th line in the NHL.

    I can’t see either Cole/Penner on the checking line given what kind of money they’re getting paid and the assets used to acquire them. Besides, the thing about putting Penner on the Gagner line is that he can take draws for Sam, which is fairly important.

    Plus, given Broziak’s even-strength numbers last year, I’m not sure how much I like him as the third line guy, although he’d certainly be at least OK between Cole and Pisani.

  55. goldenchild says:

    This Jeff Finger thing amazes me, I mean is there any chance he went to sleep last night thinking “Man I am going to get paid tomorrow”? I doubt he even knew he was a FA, there is no doubt he thought one of his buddies was punking him today when that offer came, no way he thought it was real.

  56. Ribs says:

    Promethian – Penner has played at center before and it’s maybe where he should play. He played the position with Anaheim for a lot of his time there.

    His footspeed is what keeps him away from the dots. You’ll notice he does take some draws when the pucks in the offensive zone or on the powerplay. I think he’s going to be stuck doing that unless he magically finds another gear.

  57. Lord Bob says:

    Ossi Vaananen goes to the Flyers for a million per. There’s a deal I wouldn’t have minded the Oilers taking.

  58. PDO says:

    Rolston at 20MM/4 years is risky as shit.

    I don’t mind Commodore’s deal for CBJ.

  59. Ribs says:

    Just cause he’s old? A 30 goal man for 5M/yr sounds pretty decent.

  60. Promethian says:

    Thanks, Ribs.

    So with Stauffer actually complimenting MacT on his ability to develop centres, should we then expect Penner to be a C for sure next season? :-)

  61. Lowetide says:

    Boston had a conference call for media at 4PM our time, it’s been delayed 17 minutes and counting.

    Might be Hossa.

    http://hfboards.com/showthread.php?t=530825

  62. Jonathan says:

    Ossi Vaananen goes to the Flyers for a million per. There’s a deal I wouldn’t have minded the Oilers taking.

    Rolston at 20MM/4 years is risky as shit.

    Seconded.

  63. CM says:

    think we could trade roli to chicago. they seem to be colecting over priced goalies

  64. gary b says:

    Team 1260 guys need a holiday. now they’re talking about how we need a Boogaard. and Anson Carter…

  65. Lowetide says:

    Looks like it might be Boston.

  66. Jonathan says:

    Not sure if it was Stauffer or Spector, but someone on 1260 just said “You can’t roll 4 lines anymore”.

    Tell that to Detroit, who had 12 forwards averaging more than 9 minutes a night at even strength, and 12 averaging more than 10 minutes a night.

  67. Coach pb9617 says:

    TFP says Oilers are talking to Huselius.

    Ehhhhh.

    ORPIK

  68. Jonathan says:

    Vancouver signed Hordichuk, so maybe we can stop hearing about him coming to “play 55 games a year while understanding his role”.

  69. Deans says:

    If the Oilers somehow sign Hossa are they instantly a cup contender? If the Oilers sign Hossa abd Garon plays well then I think they belong as one of the cup contenders.

  70. mc79hockey says:

    TFP says Oilers are talking to Huselius.

    Fucking Lowe if this is true. If he lost out on Hossa, he lost out on Hossa. Let’s not repeat last year’s mistakes.

  71. Devin says:

    LT- BOS needs to re-up Wideman, who will get 4M at least. That would put them at close to 55M. So they are in worse cap trouble than we are. Not sure how they could offer Hossa 11.3, let alone 8.

  72. Deans says:

    I really dont get the logic behind the Finger deal. In my mind Finger is a good 4-6 D-Man but his contract is absurd. What was the point of buying out all these stupid contracts only to create new dumb contracts?

  73. Lord Bob says:

    Duthie says that the Oilers are still the leaders in the Hossa sweepstakes.

    Best of luck to the Calgary Flames this playoff season.

  74. Tyler says:

    Well, according to TSN, as passed on by Stauffer: EDM, NYR, MTL and PIT, in that order. Then Stauffer and Spector bickered about whether or not they should phone or text Winter to figure out if this is serious.

    Hockey has such a delightful small time air to it.

  75. CM says:

    If boston signs hossa should the oilers make an offer to Wideman?

  76. DeBakey says:

    Forget Hossa
    Yashin
    Alexei Yashin
    $4.85 per
    Comes with Carol Alt
    She’s gotta be tired of Siberia

  77. honkey says:

    Hagman to leafs on a 4 year deal.

  78. Coach pb9617 says:

    Hagman is gone.

    *sniffs*

    Three mil per. Same as Vrbata.

  79. Lowetide says:

    If they don’t sign Hossa Lowe should just get on with acquiring someone with hair on his butt who has a mean spirited attitude.

    Huselius has neither.

  80. Coach pb9617 says:

    If they don’t sign Hossa Lowe should just get on with acquiring someone with hair on his butt who has a mean spirited attitude.

    You mean not that girl Orpik. That guy is such a girl. No one wants that girl.

  81. Jonathan says:

    A guy like Steve Begin could be a good fit on the third line, if the Oilers could pull him out of Montreal.

  82. Coach pb9617 says:

    7:00pm ET – Nothing new on Sundin… Bobby Holik receiving interest, but nothing close as of yet…

    TFP must be Eklund light. Holik signed with NJD at 6:41. Oops

  83. honkey says:

    Maybe Devils can bring Claude out of retirement or somehow turn back time to 1995.

  84. andy grabia says:

    VAUUUUUUUUUUUUUUUUUUUUUUUUUUUUNT

    God bless you, PDO.

  85. Lowetide says:

    Hossa’s going to bed.

  86. Jonathan says:

    Apparently Tampa Bay is shopping Mike Smith. This must be a prelude to acquiring Khabibulin ;)

  87. Coach pb9617 says:

    A guy like Steve Begin could be a good fit on the third line, if the Oilers could pull him out of Montreal.

    No room on that Cole – Brodziak – Pisani line.

    No more forwards. There is only room for one ugly d.

  88. danny says:

    Ive been looking through the buyout thing a little… and the actual calculation is a little more complicated.

    In my example the Oilers would have over $5M in cap space levied against them for almost all of the 8-9 years remaining after the 7 year buyout.

    They wouldn’t be paying that in real dollars, but the cap-hit would remain.

    Could still be worth taking on and easy to move considering it would be a free contract to raise lower spending teams to the cap floor?

  89. Black Dog says:

    Way late replying but Brodziak centring the shutdown line, godot?

    They still have a hole in the top nine.

    I’m not complaining, they’re ahead of last year but still a hole.

  90. DBO says:

    6 years $6.5 million for redden to the Rangers as per TSN on the TV

  91. DBO says:

    Lowe on TSn and team 1260

  92. honkey says:

    That’s alot of money for Redden if he continues his downward spiral the coming years.

  93. Jonathan says:

    6 years $6.5 million for redden to the Rangers as per TSN on the TV

    And I thought that the Jeff Finger contract was going to be the worst one signed today.

  94. Devin says:

    Just an atrocious signing by the Rangers. I thought they’d be a bit more cautious after giving Drury and Gomez 7 apiece last summer. Who is going to play forward on that team anyway?

  95. Doogie says:

    Who is the last guy that sounded this excited to be an Oiler? Craig Simpson?

    Jordan Eberle. But point well-taken.

    Sweet Jesus, I hate the Rome Show.

    He might be the only man in radio with more pregnant pauses than Bob McCown. And he carries every rant and joke about four steps longer than would be optimally effective.

    Getting rid of Roli might save $2.5MM – that doesn’t get it done.

    I thought his cap hit was $3.67M. $11M/3 two years ago, no?

    Does that break the rules? Buyout after season 8 is 7.5M payable over 14 years… 500K cap hit for that duration.

    I’m pretty sure the cap hit isn’t quite that simple, because that would make circumvention painfully easy, but I can’t think of what the actual calculation is for weird front-loaded deals like that offhand.

    Then Stauffer and Spector bickered about whether or not they should phone or text Winter to figure out if this is serious.

    Hockey has such a delightful small time air to it.

    You sure that’s not just Edmonton sports radio?

    6 years $6.5 million for redden to the Rangers as per TSN on the TV

    Oh, Slats, you crazy bastard. Don’t ever change.

  96. Oilman says:

    Ryder got $4mil per from the Bruins…have they backed off from Hossa a little…$4mil for Ryder?

  97. uni says:

    I still can’t believe Theodore managed to land himself a huge payday not just once, but twice! Are GMs hypnotized by this guy or something?

    It’s all that Propecia enhanced hair…that wonderful, lustrous, free-flowing, dark, Propecia fortified hair cascading over his shoulders. GMs just can’t look away…or so no.

  98. uni says:

    “Oh. Yeah.

    I HATE YOU BROOKS ORPIK! STAY OUT OF ALBERTA!”

    Bloody hell coach! You meant to stay STAY OUT OF EDMONTON! EDMONTON! Are you trying to get a D trifecta in Cowtown to manhandle Hemsky?

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