Formenton to Edmonton: A Low-Risk Depth Gamble With Playoff Penalty-Kill Upside

The Edmonton Oilers are doing internal homework on Alex Formenton, the 26-year-old winger freshly cleared by Hockey Canada after his August 12 reinstatement. Per reporting from Oilers Now host Bob Stauffer, the conversation has surfaced repeatedly in Edmonton circles—enough that David Staples at the Edmonton Journal has publicly endorsed the fit. Stauffer's track record of flagging front-office intentions before they materialize (he presaged Mike Babcock's hiring months before it happened) gives the speculation weight. But this is still preliminary vetting, not an imminent signing.

The clearest connector is D.J. Smith, hired as associate coach in June. Smith coached Formenton in Ottawa from 2019 to 2023 and watched him log 79 games in 2021-22, scoring 18 goals and 32 points on 15:27 of ice time—with an unusually high five shorthanded goals. That penalty-killing production matters. Formenton is not a top-six option; his value proposition is speed, transition forechecking, and special-teams versatility. At 6-foot-3 and 194 pounds, he combines size with mobility in a way that fits the modern transition game. Smith's familiarity with Formenton's on-ice tendencies and work ethic removes some of the risk from a low-commitment signing.

From an organizational standpoint, Edmonton needs depth after losing Evander Kane and facing cap constraints. Formenton would arrive on a veteran minimum or near-minimum deal—a bet the Oilers can afford to lose. If Smith vouches for his character and work capacity post-suspension, the upside on a bottom-six winger with proven penalty-kill credentials outweighs the downside. The market hasn't yet overvalued him because the reinstatement is too recent; teams are still assessing reputational and performance risk.

For prop purposes, the angle hinges on deployment. If Formenton signs and plays regular minutes in Edmonton's penalty-kill rotation, his shorthanded-goal upside and shot volume in transition could offer value in low-sample-size props early in the season. His historical rate of shorthanded scoring (27% of his 18-goal 2021-22 season came on the PK) is rare for a bottom-six forward; if Smith puts him in that role and the Oilers face above-average penalty trouble early, Formenton's anytime-goal odds could be priced without accounting for his special-teams leverage. The edge isn't permanent—it fades as sample size grows—but in October, before the market recalibrates his penalty-kill deployment, early-season props on Formenton's goal involvement carry exploitable underpricing. The bet requires confirmation of the signing first; until then, monitoring Oilers beat writers and official roster moves is the only actionable play.