Oilers, Holland agree not to renew contract

The Edmonton Oilers and president of hockey operations and general manager Ken Holland mutually agreed not to renew his contract, which was set to expire Sunday, the team announced Thursday.

Oilers CEO of hockey operations Jeff Jackson will serve as acting GM, though he said he has no intention of holding the title permanently. Jackson added that there's no timeline for finding Holland's replacement, but he's already contacted some candidates.

Multiple teams are reportedly expected to approach Holland about roles he'd consider, though the 68-year-old executive will take some time before deciding his next move.

Holland said last offseason that he'd honor the final year of his contract but didn't reveal his intentions beyond 2023-24.

The news comes on the heels of the Oilers losing in the Stanley Cup Final in seven games to the Florida Panthers.

"Over the past five seasons as general manager, Ken has not only built the Edmonton Oilers into one of the NHL's best teams, he has also established a deeply rooted foundation of success and a culture of winning that will continue well into the future," Jackson said. "Thanks in large part to Ken's outstanding work, Edmonton has become a destination city for players around the National Hockey League."

Edmonton hired Holland in May 2019, and the Oilers reached the postseason in all five of his seasons. While Holland inherited most of the team's core, he drafted Philip Broberg and Dylan Holloway, traded for Mattias Ekholm, and signed Zach Hyman as a free agent during his reign.

However, Holland was criticized for other moves, such as Darnell Nurse's extension and Cody Ceci's signing.

Holland is already a member of the Hockey Hall of Fame. He famously served as the architect of the dynastic Detroit Red Wings teams that won four Stanley Cup championships under his tenure - three while he was GM and executive vice president of hockey operations and a fourth while he was still the assistant GM.

The NHL draft is set to begin Friday, while free agency opens Monday.