Think they will have to walk away from Holloway too.
If you match even on Holloway it puts the team over the cap when Kane comes off the LTIR.
You can say "well then trade Kane", but that's going to be difficult at that point, he's going be looked at as damaged goods and teams are going to know the Oilers have to dump cap and will ask for the moon (probably a 1st round pick at least) because we have no choice. That and he has a NTC too, so he may not agree to even waive that.
Kulak or Ceci you could dump to accomodate Holloway's pay raise but since you've also walked from Klefbom that thins out the D considerably, I don't think that's an option.
Team will be fine next year, but this is an embarrassing kick in the ass to the front office, this level of management is not good enough, everyone in that front office needs to look in the mirror and be better. Basically the only thing they have to show for 9 years of drafting past McDavid is Bouchard and Skinner now, lucky for them Bouchard looks like a star.
The amount of cap mismanagement and wasted draft capital is really piss poor.