Because no way in hell was Treliving going to buy out Neal's contract one year after signing him to a $5.25M AAV contract for 5 years.
And Neal HAD TO GO! Bill Peters hated him and last I heard its the coach who does the game day lineup. Buying him out wasn't an option and having him sit 82 games in the press box wasn't an option either.
Now... I may be wrong and Holland may buy him out next summer if Neal doesn't perform. I think, however, that he won't do that. 6 years of $2M cap space is a lot to swallow.. particularly on a team that is struggling as much as the Oilers are right now.
Edit: If Treliving had bought out Neal's contract this summer the Flames would be on the hook for EIGHT years of $2M dead cap space.
This makes no sense at allllll.
If he sucks and doesn't gel with the team of course he would be bought out. Why would any sane GM keep him at almost 6M per year for three years as dead weight?
If he sucks next year, he could be bought out and this would be the savings for the Oilers:
2020-2021 - $3.8M
2021-2022 - $3.8M
2022-2023 - $3.8M
2023-2024 - negative $1.9M
2024-2025 - negative $1.9M
2025-2026 - negative $1.9M
So basically almost 4M of savings for three years (thats a decent defensemen or depth forward you can sign for that while Draisaitl and McDavid are still signed and in their prime). I'm pretty sure would definitely want to use the savings to get a USEFUL player to replace Neal rather than just keep him on the roster.
That's worth the negative 2M in dead weight for the following three years which will be less of an impact because the cap will go up by then anyway.