The Edmonton Oilers are in win-now mode, and a new trade rumor has the hockey world buzzing. According to NHL insider Frank Seravalli, the Oilers are paying extremely close attention to Toronto Maple Leafs blueliner Oliver Ekman-Larsson as the NHL trade deadline approaches.
If you clicked here wondering how Edmonton plans to fix their blue line, this is your answer. The Oilers have been desperately hunting for a reliable presence to play on the right-side defense, and Ekman-Larsson fits the bill perfectly. But how does a cap-strapped team like Edmonton pull off a blockbuster deal with Toronto?
The answer lies in Andrew Mangiapane. The Oilers are pressed tight against the salary cap, meaning a dollar-in, dollar-out scenario is their only realistic path forward. Moving Mangiapane is the first major domino that needs to fall. Let’s break down the cap gymnastics, the asking price, and why an Ekman-Larsson trade could be the exact move that helps bring the Stanley Cup back to Oil Country.
The Cap Gymnastics Behind Acquiring Oliver Ekman-Larsson
As someone who watches the NHL trade market closely, I can tell you that this potential deal is a masterclass in asset management. Right now, Andrew Mangiapane carries an average annual value (AAV) of $3.6 million through next season, and he holds a full no-trade clause. However, insider rumors suggest Mangiapane is highly motivated to waive that clause if it means going to a roster where he’ll secure more consistent playing time.
If Edmonton can successfully move Mangiapane, the financial floodgates open. Oliver Ekman-Larsson currently holds an AAV of $3 million through the 2027-28 season, accompanied by a 16-team no-trade list. By shedding Mangiapane’s $3.6 million, the Oilers would instantly have more than enough cap space to absorb Ekman-Larsson’s contract without breaking a sweat.
From my perspective, Ekman-Larsson offers exactly what Edmonton is missing on the right side. He brings a calm, veteran presence, excellent puck-moving abilities out of the defensive zone, and the kind of playoff composure you need when the games get tight. But while the money makes sense, the trade assets are where things get complicated.
Edmonton’s prospect pool and draft capital are undeniably thin right now. The Toronto Maple Leafs are in no rush to give away a core piece of their blue line for free, and they will likely demand a first-round pick or a top-tier prospect in return. The question for Oilers management is simple: Are you willing to mortgage the future when the cupboard is bare? If Ekman-Larsson is the final puzzle piece, the answer has to be yes.
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