Keith was entering the final season of a 13-year, $72 million contract he signed with the Blackhawks in December 2009, which carried an annual cap hit of $5,538,462. Because of the NHL's cap recapture rules, the Blackhawks will be penalized for Keith's retirement before the end of that contract.
Chicago will carry an extra $5,538,462 on its cap in 2022-23 and $1,938,456 in 2023-24. Neither penalty should dramatically impact Chicago's salary-cap situation, as the team is in a full rebuild for the foreseeable future.
The Oilers, meanwhile, clear the entirety of Keith's $5,538,462 cap hit from their books as they approach free agency. Edmonton is seeking to re-sign top-line winger
Evander Kane and bring in a goaltender through free agency or trade.