Updated May 3

The mighty Michigan Wolverines hockey team lost a little bit more of its power today (May 2) when rising junior forward Andrew Cogliano signed a contract with the National Hockey League's Edmonton Oilers, forgoing his final two years of college eligibility.

The Oilers and Michigan announced the signing with press releases around noon eastern time.

"This is an opportunity that only comes once in a lifetime," Cogliano said in a phone interview. "I'm really excited to be a pro hockey player."

The speedy Cogliano is coming off an outstanding sophomore season in which he scored 24 goals and totaled 50 points.

The Woodbridge, Ontario native centered the Wolverines' second line and played the point on Michigan's power play for much of the season.

Many expected Cogliano to return for his junior year, looking forward to even better output.

"I just don't know if this is the right time for Andrew to leave, but he's made that decision," said Michigan coach Red Berenson who found out about Cogliano's intentions yesterday.

Others see it differently.

"We felt strongly that he should stay (at Michigan) after last year," Oilers assistant general manager Scott Howson said. "We saw enough growth in his game. We think that he's ready to play the pro game now."

Had he returned, Cogliano likely would have centered Michigan's top line next season, with seniors Kevin Porter and Chad Kolarik lining up on the wings.

Cogliano was named an alternate captain at the team's season ending banquet April 14. Berenson said he was in no rush to fill the vacancy in a phone interview with the Daily.

Cogliano is not the first Canadian Wolverine to forego part of his eligibility to pursue professional careers.

Most recently Mike Cammallleri, who was once Cogliano's neighbor in Woodbridge, signed a pro contract after his junior year in 2002.

Cogliano bucked the trend for Canadian hockey players by choosing to play at Michigan. While most of his friends were preparing for careers at the junior level in the Ontario Hockey League, Cogliano stood by, solidly committed to Michigan.

But Berenson knew Cogliano might not be able to withstand the lure of the NHL for too long.

"I think these Canadian kids have a hard time saying no to the first NHL team that comes calling," Berenson said.

The Oilers drafted Cogliano with their first round pick (25th overall) in the 2005 NHL Entry Draft. Last season, Cogliano was one of four Michigan first-round draft picks - all underclassmen. With Cogliano and classmate Jack Johnson signing pro contracts this spring, that number now stands at two.

Berenson said he was most concerned Cogliano would end up in the minor leagues and would be unable to complete work toward his degree.

"If he's playing in the American League, I don't suspect he'll play there very long, quite frankly," Oilers general manager Kevin Lowe said. "But if he does, he'll gain all of the experience playing against stronger guys. So as a result, he'll develop."

Now Michigan will have to fill another void on top of the ones left by the departure of last year's seniors and Jack Johnson's early flight to the NHL.

The coaches won't look for a quick fix, but would bring in another recruit if it's someone who could play on one of the top two lines, Berenson said.

For a complete transcript of the Daily's interview with Andrew Cogliano check out our blog, "The Game".