The Edmonton Oilers declined to match the St. Louis Blues' offer sheets for forward Dylan Holloway and defenseman Philip Broberg, the teams announced Tuesday.
The Blues signed Holloway to a two-year pact worth $2.29 million annually and Broberg to a two-year contract with a $4.58-million cap hit last Tuesday. The Oilers had seven days to match.
"It's really not reflective of the players at all," Oilers general manager Stan Bowman said of the decision to let Broberg and Holloway walk, per TSN. "I want to be clear on that. ... This came down to a business decision relative to our short-term as well as long-term viability for our roster with the salary cap."
Edmonton receives a second-round pick and a third-rounder in 2025 as compensation for Broberg and Holloway, respectively.
The Oilers acquired winger Vasily Podkolzin from the Vancouver Canucks and sent rearguard Cody Ceci to the San Jose Sharks in exchange for blue-liner Ty Emberson in the lead-up to Tuesday's 9:30 a.m. ET deadline.
Edmonton is believed to have offered Broberg a two-year contract with an average annual value of $1.1 million, while the deal on the table for Holloway was for three years with an approximate cap hit of $1.05 million, according to Bally Sports Midwest's Andy Strickland.
The Oilers selected Broberg with the eighth overall pick at the 2019 NHL Draft and scooped up Holloway at 14th overall one year later.
Broberg appeared in 12 regular-season games with Edmonton in 2023-24, totaling two assists while averaging 11:37 minutes of ice time per contest. He then suited up for 10 playoff contests during the Oilers' run to the Stanley Cup Final, adding two goals and three points while playing just under 16 minutes a night.
Though the Swede is a left-handed shot, he predominantly played alongside Darnell Nurse on the second pair for the last five games of the final against the Florida Panthers, prying the spot away from the right-handed Ceci.
Broberg, 23, played in a career-high 46 matchups in 2022-23 and owns 13 points in 81 games spread across three seasons. The Oilers reportedly granted him permission to seek a trade in December after he frequently watched games from the press box as a healthy scratch.
Holloway, meanwhile, amassed six goals and nine points in 38 games this past regular season. He appeared in all 25 of the Oilers' playoff clashes in the spring, registering five tallies and seven points.
The 22-year-old made his NHL debut during the 2022 Stanley Cup Playoffs. He slotted into the lineup for 51 games the following season, chipping in with three goals and nine points.
Both Broberg and Holloway spent time with the AHL's Bakersfield Condors in 2023-24, with the former notching 38 points (five goals, 33 assists) in 49 games, and the latter racking up 16 points (10 goals, six assists) in 18 appearances.
The Blues also traded a 2028 third-round pick and the rights to defenseman Paul Fischer to Edmonton for future considerations on Tuesday.
St. Louis selected Fischer in the fifth round of the 2023 NHL Draft. The 19-year-old spent last season at the University of Notre Dame.
The Oilers currently have just under $950,000 in cap space, per PuckPedia, but forward Evander Kane and his $5.125-million cap hit may start the year on long-term injured reserve.
The Blues, meanwhile, have a tad over $465,000 in cap space.
