Kane, an unrestricted free agent, signed a four-year, $20.5 million contract with an average annual value of $5.125 million.
"I just had a strong belief in this group, and I wanted to be a part of a team that has a real chance to win," Kane said July 13. "With Edmonton, this is the first real chance where I've been free to choose where I want to play. The guys with the team and the organization, they just seem to fit really well together. I've been a winning player my entire career up until I got to the NHL, and I want to make sure I accomplish that goal, and I believe I can do that in Edmonton."
The Oilers were buoyed by the arrival of Kane and coach Jay Woodcroft, and they helped change the projection last season.
Kane signed as a free agent Jan. 27, and Woodcroft was promoted from Bakersfield of the American Hockey League to replace the fired Dave Tippett on Feb. 10. Woodcroft signed a three-year contract June 21.
Defenseman Duncan Keith, who won the Stanley Cup three times with the Chicago Blackhawks, retired after one season with the Oilers. Keith was a valuable asset mentoring young defenseman Evan Bouchard, who along with defenseman Philip Broberg is expected to take on an even bigger role this season.
The Oilers re-signed defenseman Brett Kulak to a four-year, $11 million contract ($2.75 million AAV). He was acquired in a trade with the Montreal Canadiens prior to the NHL Trade Deadline last season.
"We made a decision to pay a second-round pick for Brett and we thought he came in and did everything we asked, and more," general manager Ken Holland said July 13. "He's an easy skater and a good defender and a very good person. He's in the gym every day. He's very respected in the locker room. It's hard to find defensemen. I think he can anchor the third pair and he's going to get an opportunity to play in the second pair. He was important to get back."
The Oilers will start the season with the goalie tandem of Campbell and rookie Stuart Skinner, who played 13 NHL games last season.