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Oilers sign Bailey to two-way deal, place him on waivers

Justin Bailey Justin Bailey - The Canadian Press

Edmonton Oilers signed forward Justin Bailey to a one-year, two-way contract worth $750,000 in the NHL on Friday.

The team then placed Bailey on waivers for purpose of assignment to the AHL's Bakersfield Condors.

Bailey has four goals and 10 points in 16 games with the Condors this season.

The 27-year-old first signed with the AHL club on September 8 on a one-year deal.

Selected in the second round, 52nd overall, by the Buffalo Sabres in 2013, Bailey has played 82 career NHL games with five goals and four assists.