They could have won if they hadn't absolutely facked last off season. They have no one to blame but themselves. Completely squandered fantastic opportunities to win another cup for Edmonton and their fans.
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They kept Holland around and had no plans on retaining him, and when the season ends a week before FA begins and you have an interim GM, that wasn't good. Allowed themselves to be tight to the cap with RFAs left and got taken by the Blues, losing their 2019 and 2020 1st round picks.
They now have 2 Dmen in Genzenberger and Akey, plus F O'Reilly and G Vinni that are still left from the 202X drafts from rounds 1-3 as prospects. Traded their 1st, both 2nds (the one from STL as well), and their own 3rd. So, have only the Blues 3rd in 2025. Traded 1st in 2026, still have their 2nd and 3rd.
Kane, Arvidsson, Henrique, Ekholm, Walman, Kulak, Stecher, Skinner, all have 1 year left on their contracts. Along with McDavid.
I'd say, 7/8 on that list, aren't returning on another contract for Edm in 26/27. But, where are they going to find replacements/upgrades with limited prospects, draft capital. Edm isn't no income tax state FLA, Dal, LV with sunny weather during the winter months to attract free agents. And with the cap rising sharply, even the bottom teams need to spend.