Source: Ken Holland agrees to terms as Oilers GM, contract not signed

HC analyst John Shannon gives the latest update on Ken Holland becoming the next GM of the Edmonton Oilers, and speculates on what his first move will be, and what personnel he’ll be bringing over from the Red Wings organization.

Ken Holland has agreed to terms with the Edmonton Oilers to become their next general manager, according to Sportsnet’s John Shannon.

Shannon reported on Sportsnet Central that a contract has not been signed, but both sides hope to have the process completed on Monday. The longtime Red Wings executive is expected to recieve $5 million for five years, according to Shannon.

Those involved in the GM search, including serious candidates for the job, were notified Holland will be the team’s next GM, sources told Sportsnet on Sunday.

Holland was expected to meet with Detroit’s ownership Sunday and an announcement of a move to the Oilers will follow at some point, reports Sportsnet’s Elliotte Friedman.

The 63-year-old spent 36 years in Detroit, including 22 as the club’s GM. While manning the position, Holland guided the franchise to three Stanley Cups, four Presidents’ Trophies and 13 seasons with at least 100 regular-season points.

However, the Red Wings have fallen on hard times of late, missing the playoffs the past three seasons. In 2018-19, the club was the highest-spending team in the NHL, but could only muster a 74-point campaign, good for 28th in the league.

Detroit’s hiring of Red Wings legend Steve Yzerman as GM last month shifted Holland to the role of senior vice-president, for which he was given a new, multi-year contract.

The Oilers have been on the hunt for a GM since Peter Chiarelli was fired on Jan. 23, and CEO Bob Nicholson gave Keith Gretzky the keys to the team in the interim.

Despite another spectacular season from two-time Art Ross Trophy winner Connor McDavid, Edmonton missed the playoffs for the second year in a row in 2018-19.

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