Oilers CEO Jeff Jackson will NOT become the team's new GM

UPDATE 2: Oilers CEO Jeff Jackson has confirmed that he will not be the new GM of the Edmonton Oilers, following the departure of Ken Holland. Jackson will, however, take on the role in an interim basis until he can make a new hire.

Read below for our earlier reports on all the Oilers' news today.

 UPDATE: The Oilers have officially released a statement announcing GM Ken Holland's departure from the team.

Check it out:

Oilers President and CEO Jeff Jackson has released the following statement:

"The Edmonton Oilers and Ken Holland have mutually agreed that his contract will not be extended beyond the end of its current term. Over the past five seasons as General Manager, Ken has not only built the Edmonton Oilers into one of the NHL's best teams, he has also established a deeply rooted foundation of success and a culture of winning that will continue well into the future. Thanks in large part to Ken's outstanding work, Edmonton has become a destination city for players around the National Hockey League. We wish Ken, Cindi and his entire family the very best and thank him for his leadership and contributions to the Oilers organization and the City of Edmonton."

Read below for our earlier report on Dreger's status with the team as reported by TSN insider Darren Dreger.

This just in, according to a report from TSN insider Darren Dreger, Edmonton Oilers GM Ken Holland has informed the team that he won't be staying with the franchise after his contract expires on July 1st.

Dreger reported earlier this week that Holland was expected to take on a different role with the team, but that plan is apparently now out the window. Dreger reports that Holland has other options around the NHL and will take his time before deciding what to do in the future.

From Dreger:

Once Holland's GM contract expires on July 1st there's a sense that new President Jeff Jackson will move into the GM role, but that hasn't been confirmed just yet. 

It has also been reported that Jackson will run the Oilers' Draft table on Friday at the 2024 NHL Entry Draft.

More to come on this developing story.