Oilers place Jack Campbell on unconditional waivers for purpose of a buyout

Jack Campbell‘s time with the Edmonton Oilers is coming to an end.

The Oilers placed the goaltender on unconditional waivers for the purpose of a buyout, the team announced Sunday.

The buyout will save the Oilers $3.9 million in cap space for next season. Campbell had three more years remaining on his contract at a AAV of $5 million. The buyout will double the length and cost the Oilers $1.5 million each year, according to CapFriendly.com. The cap hit for next season will be $1.1 million, before rising to $2.3 million in 2025-26 and then again to $2.6 million in 2026-27. It will then drop to $1.5 million for the final three seasons.

Campbell was sent down to the minors after a brutal start to the 2023-24 season with the Oilers. In five starts, he finished with a 1-4 record and a .873 save percentage. His last start with the Oilers came on Nov. 4 against the Nashville Predators.

He recaptured some of his form with AHL Bakersfield, playing 33 games for the Condors last season season while finishing with a .918 save percentage and 2.63 goals-against average.