Former Leafs goaltender receives heartbreaking news ahead of free agency

After struggling in his first season of his 5-year contract with the Edmonton Oilers, Campbell's second season didn't get any better. In fact, it got worse, as Campbell was placed on waivers and sent down to the AHL in November.

The hope was that he would rediscover his game and would then become an integral part of the Oilers' Stanley Cup hopes. Unfortunately, he never recovered enough, and today, the Oilers placed him on waivers for the purpose of buying him out.

According to Cap Friendly, the Oilers will save $4.5M over the 6-year term of the buyout, and it will only cost them $9M in cash instead of the $15M he had remaining. A full breakdown of the cap hit over the buyout can be found below.

Cap Hit:
24-25: $1.1M
25-26: $2.3M
26-27: $2.6M
27-28: $1.5M
28-29: $1.5M
29-30: $1.5M

It's an unfortunate development for Campbell, but given the fact that Leafs are in the market for an insurance goaltender, much like what they did with Martin Jones in 2023-24, there's always a chance that Campbell could make a return to Toronto as a 3rd string goalie. Never say never, but while Leaf fans originally wanted him to stay, the contract he wanted wasn't warranted and clearly proved to be an issue.

However, on a 1-year deal a little closer to the league minimum, Campbell might make some sense as an insurance option.

Source on Campbell salary info: PuckPedia
Jack Campbell salary information