Are the Oilers making progress in Nugent-Hopkins’ contract talks? Will they trade or buy out Mikko Koskinen or James Neal? Could Oscar Klefbom be exposed in the expansion draft? Check out the latest in today’s NHL rumor mill.

EDMONTON JOURNAL: Jim Matheson believes Oilers general manager Jim Matheson faces a long to-do list this summer. Topping that list is signing Ryan Nugent-Hopkins to a new contract before he becomes an unrestricted free agent on July 28.

Edmonton Oilers forward Ryan Nugent-Hopkins (NHL Images).

Nugent-Hopkins wants to stay but Matheson wondered if Holland will go higher than $6 million per season or $5.5 million and over five years. He also feels the Oilers see him now as a top-six left-winger rather than a center and want to pay him as such.

SPECTOR’S NOTE: Matheson’s colleague David Staples cited Sportsnet’s Elliotte Friedman claiming Nugent-Hopkins contract talks haven’t gone well and his status remains uncertain. They were apparently close to a deal before the season began but things fell apart at the last minute.

Plenty of time for the two sides to work things out. I’d get concerned, however, if they haven’t gotten any closer when the calendar flips to July. Nugent-Hopkins will draw plenty of interest around the league if he goes to market on July 28. Someone will pay him what he wants.

The Oilers intend to bring back 39-year-old goaltender Mike Smith. As for Mikko Koskinen, Matheson believes his return is less than 50-50. They might not buy out Koskinen but Matheson wondered if they’d absorb part of the goalie’s $4.5 million cap hit to facilitate a trade or include a player or draft pick to get a deal done.

SPECTOR’S NOTE: Staples noted Friedman said buying out Koskinen was a possibility. He also cited NHL insider Brian Lawton telling Oilers Now show host Bob Stauffer the Oilers shouldn’t bring Koskinen back. However, Staples suggests finding a suitable replacement this summer won’t be easy.

Koskinen, 32, struggled at times this season and wasn’t a reliable backup for Smith. He has just one year left on his contract. I think Holland will try to trade him, even if it means eating some of his salary. Failing that, he’ll probably go the buyout route at a cap hit of $1.5 million for 2021-22 and 2022-23 as per Cap Friendly.

Turning to the blueline, Matheson wondered if Holland will leave Oscar Klefbom unprotected in the expansion draft. He’d be taking a chance on the Kraken being scared off by the defenseman’s season-long absence with a shoulder injury.

Pending UFA blueliner Tyson Barrie is looking at a long-term deal and will see what’s out there. Matheson expected Holland will re-sign Adam Larsson, perhaps around the same $4.1 million range of his current deal. The question is whether it’s three or four years.

SPECTOR’S NOTE: Holland must also ensure he’ll have sufficient long-term cap space to sign Darnell Nurse to a contract extension. He’s slated to become a UFA next summer but contact talks can begin this summer. If Klefbom is selected by the Kraken in the expansion draft it’ll free up $4.1 million from their cap payroll, giving Holland extra room to sign Nurse or make other moves.

Matheson considers it likely Holland will buy out veteran winger James Neal. Doing so would free up $3.83 million in each of the next two seasons to target an unrestricted free agent winger such as Tampa Bay’s Blake Coleman or Toronto’s Zach Hyman. If Neal is bought out, Matheson sees him returning to Pittsburgh where he had his best seasons.

SPECTOR’S NOTE: Sportsnet’s Mark Spector believes Holland should buy out Neal, considering him dead cap space already at $5.75 million annually and barely playing. It would count as $1.92 million over the next four years against the Oilers cap.

He also suggests Holland should explore trading Neal, absorbing half his salary for the final two years of his contract to make it work. However, he feels there would have to be something else included in the deal.

A trade is possible. A buyout is more likely. And no, he won’t be returning to Pittsburgh even if Sidney Crosby and Evgeni Malkin like him. He’s a fading star who won’t address the Penguins’ need for a better starting goalie and more skilled toughness in their lineup.

Matheson also suggested St. Louis Blues winger Jaden Schwartz, Vegas Golden Knights versatile forward Mattias Janmark and Colorado Avalanche defenseman Patrik Nemeth as possible free-agent targets.

SPECTOR’S NOTE: Holland would have better luck landing Janmark and/or Nemeth than Schwartz. The Blues hope to re-sign him. Failing that, he’ll draw considerable interest in the free-agent market. The Oilers might not win a bidding war for his services.