Edmonton Oilers waive goaltender Jack Campbell for purposes of buyout

The Edmonton Oilers have placed goaltender Jack Campbell on waivers for the purposes of a buyout, the team announced Sunday morning.

Campbell, 32, had three years remaining on his contract, which carried a $5 million annual cap hit through the end of the 2026-27 season. The veteran goaltender appeared in just five games with the Oilers in 2023-24 before being demoted to the American Hockey League’s Bakersfield Condors.

Buying out Campbell will result in a charge against the Oilers’ salary cap ceiling each year until the end of the 2029-30 season. The buyout costs $1.1 million in 2024-25, $2.3 million in 2025-26, $2.6 million in 2026-27, and $1.5 million in each of the three years after that.

The #Oilers have placed goaltender Jack Campbell on unconditional waivers for the purpose of a buyout. pic.twitter.com/lXb1UmGTi3

— Edmonton Oilers (@EdmontonOilers) June 30, 2024

The Oilers originally signed Campbell to a five-year, $25 million contract as an unrestricted free agent from the Toronto Maple Leafs in 2022. In his first year with the Oilers, Campbell posted a 21-9-4 record with one shutout and an .888 save percentage.

After starting the 2023-24 season with a 1-4-0 record and an .873 save percentage in five games with the Oilers, Campbell was demoted to AHL Bakersfield, where he went 18-13-1 with a .918 save percentage the rest of the way. He rejoined the Oilers as their No. 3 goaltender during the 2024 Stanley Cup Playoffs but did not feature in any games.

Before joining the Oilers, Campbell cemented himself as an NHL goaltender over parts of three seasons with the Maple Leafs, with whom he posted a sparkling 31-9-6 record and a .914 save percentage in 49 games during the 2021-22 campaign.

The Dallas Stars originally selected Campbell in the first round (No. 11 overall) of the 2010 NHL Draft. The Port Huron, Michigan product made just one appearance with the Stars to begin his career before being relegated to the ECHL, where he spent parts of two seasons rebuilding his game.

Campbell joined the Los Angeles Kings organization in 2016 and was given a second chance in the NHL, eventually emerging as a high-end backup with the Kings in the 2018-19 season. At the 2020 trade deadline, the Kings sent Campbell and Kyle Clifford to the Maple Leafs in exchange for Trevor Moore and a third-round pick.

Through 176 career games over parts of nine NHL seasons with the Stars, Kings, Maple Leafs, and Oilers, Campbell has put together a 93-52-18 record with 10 shutouts and a .909 save percentage. On July 1, he will become an unrestricted free agent eligible to sign a new contract with any team.