Campbell was placed on unconditional waivers by the Oilers on Sunday for the purpose of buying out his contract.
Campbell had three more seasons left on his five-year, $25 million deal. He will become an unrestricted free agent once the buyout process is completed. The 32-year-old netminder posted a 1-4-0 record with a 4.50 GAA and an .873 save percentage in five regular-season appearances with Edmonton in 2023-24. He went 18-13-1 with a 2.63 GAA and a .918 save percentage across 33 regular-season contests for AHL Bakersfield after being waived and demoted to the minors in November.