Oilers Sign Mike Smith To One-Year Deal

The Edmonton Oilers have made official the rumored one-year contract with free agent goaltender Mike Smith. Smith, who played the last two seasons in Calgary, is reunited with Dave Tippett. Edmonton’s new bench boss coached Smith in both Dallas and Arizona.

Smith will make $2,000,000 in base salary on the one-year deal, but could earn another $2,000,000 in incentives. The deal is expected to carry an AAV of $2,000,000, giving Edmonton a little flexibility should Smith hit his bonuses.

The veteran netminder is coming off of the worst season of his professional career. After a strong 2017-18, Smith struggled with the Flames in 2018-19. He lost his starting job to David Rittich and failed to hit the .900 mark in terms of save percentage for just the second time in his career. His .898 save percentage was the worst mark of his long career.

Interestingly enough, Smith is trying to repeat history. After a horrible 2010-11 with Tampa Bay, in which Smith posted a save percentage of .899, he signed with Arizona and coach Tippett. Smith rebounded with the Coyotes, posting a career-high .930 save percentage and leading Arizona to the Western Conference Final.

Up until this past season, Smith was a good NHL goaltender.

Normally, betting on a player with a consistent track record after a rare bad season is smart. Outside of 2010-11, Smith was always a solid NHL’er. The issue here is age and physical ability. The 37-year-old Smith will be 38 during the 2019-20 season and isn’t getting healthier. He was strong until a late season injury knocked him out in 2017-18, and hasn’t been the same since.

The positive spins here? Smith’s contract is only for one season. If it doesn’t work out, you simply walk away form him a year from now. Smith was Calgary’s best player in an otherwise pitiful postseason showing against the Colorado Avalanche, finishing a bad season on a high. Smith’s save percentage also rebounded in the second half, and he stabilized his game a bit.

Edmonton is taking a big risk. Mikko Koskinen has not proven to be worth the $4,500,000 AAV he carries. Can the 37-year-old Smith be the guy that pushes him and even takes the reigns? It’s a lot to ask.

Ken Holland is betting that Tippett can get Smith back to what he was in Arizona and that Smith’s second half of 2018-19 is a sign that he’ll rebound in 2019-20.