The Edmonton Oilers face a crucial offseason as they look to retool and make another run at the Stanley Cup in 2026, following a second consecutive defeat in the Final. General Manager Stan Bowman has acknowledged that changes are coming to the roster, sparking speculation and analysis about what the Oilers' lineup might look like when the puck drops in October.

One of the biggest questions revolves around Connor McDavid's contract. He is entering the final year of his current deal, and securing a long-term extension is the team's top priority. While most expect McDavid to remain in Edmonton, rumors have circulated about him potentially seeking a change of scenery after years of falling short of the ultimate goal. The Oilers also need to re-sign Evan Bouchard, a restricted free agent, who is in line for a significant raise after his impressive offensive performance in the postseason.

Bowman has indicated that the forward group is likely to see the most changes. The team is reportedly exploring trade options for Evander Kane and Viktor Arvidsson to create much-needed salary cap relief. Both players have one year remaining on their contracts, but Kane possesses a 16-team no-trade list, while Arvidsson has a full no-move clause, which could complicate potential deals. The Oilers are also working on new contracts for depth forwards Corey Perry and Connor Brown, both of whom contributed to the team's offense. Several other players are set to become unrestricted free agents, including Jeff Skinner, Kasperi Kapanen, and John Klingberg. Trent Frederic is reportedly nearing an eight-year contract with the Oilers, and the team hopes to re-sign him.

Goaltending is another area of concern for the Oilers. Stuart Skinner's performance in the Stanley Cup Final was inconsistent, and the team may look to bring in a more reliable option. Anaheim Ducks goaltender John Gibson has been mentioned as a potential target, as the Ducks are reportedly motivated to move his salary off their books. Other potential goaltending targets include Jeremy Swayman.

The Oilers have limited draft capital heading into the 2025 NHL Draft, with only three selections. They traded their first-round pick to the Philadelphia Flyers at the 2024 draft to acquire Sam O'Reilly and have already moved their first and fourth-round picks in 2026. This makes it unlikely that Edmonton will trade up in the draft.

Despite the recent setbacks, the Oilers are still considered a top contender for the Stanley Cup in 2026. According to DraftKings, they have the best odds to win the Cup at +650. With McDavid and Leon Draisaitl leading the way, the Oilers have the star power to compete with any team in the league. However, they need to address their depth, goaltending, and salary cap issues to maximize their chances of success. Bowman faces a challenging offseason as he looks to make the necessary changes to get the Oilers over the hump and deliver a Stanley Cup to Edmonton.