Making Sense of Oilers’ Decision to Bring Back Corey Perry for $1.4 Million – The Hockey Writers Oilers Transactions Latest News, Analysis & More

The Edmonton Oilers were exceptionally busy on the opening day of free agency on Monday (July 1), inking contracts with no less than 13 players, including those on two-way deals. Some of the highlights included signing Viktor Arvidsson, Josh Brown, Connor Carrick and Jeff Skinner, along with re-signing Connor Brown, Adam Henrique, Mattias Janmark, and Troy Stetcher.

Almost every one of the moves made by Oilers interim general manager Jeff Jackson was met with excitement from fans while being praised by analysts. But there was one transaction on Monday afternoon that left some scratching their head.

Related: Edmonton Oilers Re-Sign Corey Perry to 1-Year Deal

Around 1:30 p.m. Mountain Time, sometime between Edmonton bringing back defenceman Noel Hoefenmayer and bringing in goaltender Collin Delia, reports came out that the Oilers had re-signed 39-year-old forward Corey Perry to a one-year contract with an average annual value (AAV) of $1.4 million including bonus incentives.

Perry Joined Oilers to Provide Experience

Perry originally joined the Oilers back in January, signing with Edmonton as a free agent for the league minimum after having his contract terminated by his previous team, the Chicago Blackhawks, who said that Perry acted in violation of his NHL Standard Player Contract and club policies. With the Oilers, Perry contributed eight goals and five assists in 38 regular season games, then recorded one goal and two assists in 19 playoff contests during Edmonton’s run to Game 7 of the Stanley Cup Final.

Edmonton brought Perry in for his experience, which included nearly 200 postseason games, one Stanley Cup championship (2007 with the Anaheim Ducks) and three other trips to the Stanley Cup Final (2020 with the Dallas Stars, 2021 with the Montreal Canadiens, and 2022 with the Tampa Bay Lightning). In that respect, Perry’s Oilers tenure can be considered a success: he was part of the first Edmonton team to reach the championship round in 18 years.

But as the 2024 NHL Playoffs wore on, Perry was a healthy scratch on several occasions. Despite his incredible postseason experience, which is the prime reason Edmonton signed him, he wasn’t providing enough for Oilers coach Kris Knoblauch to use him in the biggest games of the year.

Perry Might Not Have Much Mileage Left

Perry, who turns 40 next May, is at the age now when the inevitable drop-off in his performance could come any day, and when it happens it will be quick and steep. For that matter, it may have already begun.

The value that Perry could bring to Edmonton’s lineup in 2024-25 doesn’t seem like a lot. And while his experience was a huge addition to this team a few months ago, there is now a roster full of Oilers who know what it takes to get to and play in the Stanley Cup Final.

Perry Positively Impacts Team Culture

But while Perry did join the Oilers under a cloud of controversy, because of the circumstances surrounding his Chicago exit, he was nothing but a model citizen and teammate during his time in Edmonton. And that might be exactly why he got a new contract on Monday. As Dan Tencer, director of scouting for the Saskatoon Blades, wrote on X, “I assume the Oilers vets pushed for Perry. Doesn’t make a ton of sense based on what we saw on the ice.”

Team culture is clearly strong with this Oilers group, and key to their success. Without it, they don’t rally from deficits of 1-0, 2-1, and 3-2 against the Vancouver Canucks in Round 2. Without it, they don’t come back from trailing 2-1 in the Western Conference Final against Dallas. And without it, they don’t manage to force Game 7 against the Florida Panthers after falling behind 3-0 in the championship series. Perhaps that team culture isn’t what it is without Perry.

“Even in the games he didn’t play, he was still contributing to our team,” Knoblauch said during the Western Conference Final. “He’s a great mentor for our younger guys, even our older guys, just settling things down and being positive. He’s great to have on your team, whether he’s dressed or not …”

Perry’s Contract Is Worth $1.4 Million

The $1.4 million amount of Perry’s contract also raised a few eyebrows on Monday, particularly in relation to the $1 million that the Oilers will be paying next season to Connor Brown, who is going to be a big part of their bottom six. Sports 1440 radio host Jason Gregor posted that he expected Perry’s contract to be close to the league minimum of $775,000.

On one hand, $1.4 million isn’t much. On the other hand, it can be a lot on a team that’s as tight up against the salary cap as the Oilers are.

How much should Edmonton pay a player that might be watching as many games from the pressbox as from the bench next season? If it helps maintain the chemistry that has been so pivotal in Edmonton getting to the cusp of a Cup, $1.4 million might be the answer.