Penner an Oiler - Burke declines to match Lowe’s offer sheet

After waiting until the final moments of the deadline, Brian Burke declined to match Edmonton’s 21.5 million dollar offer to youngster Dustin Penner. Anaheim won’t lose Penner for nothing though; due to the amount of the offer, the Ducks obtained the Oilers’ 1st, 2nd and 3rd round draft picks in 2008.

If the Oilers tank, that has the potential to translate into three quality picks and a potential first overall. Reportedly, Burke was presented with several trade offers which would have allowed him to match the contract, however he failed to justify any of the moves and paying what he considers a ridiculous overpayment.

On an interesting note, Penner had been living in the same Newport home that had also belonged to former Duck Joffrey Lupul. Lupul was traded to Edmonton last season in the Chris Pronger deal (he was subsequently moved to Philadelphia this summer).

Penner is a risk for the Oilers, as if he follows in Lupul’s footsteps, he will definitely be over-priced. However if he improves on an impressive late season and playoffs with the Duck, he could become the power forward Lowe hopes for and become a long-term bargain.

Varius’ Note: While I am disappointed to see Penner go, I am glad Burke declined to match. I am also interested to see how Dustin does in Edmonton as well as what Burke does with the picks.