Our analysts have no idea what the Oilers are doing so this makes the situation just as confusing. So they aren't accuring cap anymore?
We are accruing cap space. LTIR only tanks that if you exceed the cap with it. Ira Cooper explains it quite well here
The Kane LTIR thing combined with the other cap hits is just more shenanigans to set the cap before the season. If I heard correctly it helps us perhaps with LTIR later. So first we have to spend the accrued space, and then we can spend Kane's
Edit: and the setting the LTIR is really dumb. It seems like to set the amount of LTIR we get from Kane we need to use all our cap space. That's because if we have 1 million in space then we would only have 4.125 million from Kane's LTIR because we'd have to use up the 1 million first. Using up the space sets Kane's LTIR hit at his full 5.125 aav. Then we send everyone down and have Kane's LTIR while having cap space that can start accruing