Oilers sign Mike Smith

The Edmonton Oilers and Mike Smith have agreed to terms on a new contract worth $2 million for one year.

The #Oilers have agreed to terms with goaltender Mike Smith on a one-year, $2 million contract.@Rogers | #LetsGoOilers pic.twitter.com/2x9IQc1DsE— Edmonton Oilers (@EdmontonOilers) October 10, 2020

The veteran goalie posted a 19-12-6 record with a .902 SV% and 2.95 GAA, which was his highest since the 2014-15 season.

The 38-year-old returning to the Oilers is a bit of a surprise considering that GM Ken Holland talked about seeing what other options were available on the market. Goalies have been disappearing fast, so he had to pull the trigger on finding a cheap goalie for next season, as they also recently signed free agent defenseman Tyson Barrie to a 1-year, $3.75 million deal.

The Oilers could have looked for a trade partner for a goalie, but Smith still is a viable backup option even at his age. It seems that the Oilers wanted to stay with someone that was still familiar with the team.

Mikko Koskinen had a better season last season than Smith, posting an 18-13-3 record with a 2.75 GAA and .917 SV%. Therefore, it would not be surprising if his role is expanded more this upcoming season.

The Oilers are in a very tough cap space situation, as now they only have a little over $200K left, and they still need to sign defenseman Ethan Bear to a new deal.

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