9:17 AM: The Capitals have made the signing official with a team announcement (Tweet Link). The contract will be a 2-year, $1.65MM extension, paying him $775K in 2023-24, and $875K in 2024-25.
7:51 AM: The Washington Capitals are closing in on a two-year extension with defenseman Alexander Alexeyev, Sportsnet’s Elliotte Friedman reported Monday night. PuckPedia adds the contract carries a cap hit of $825,000, paying Alexeyev $775,000 in 2023-24 and $875,000 in 2024-25.
Alexeyev, 23, was set to be a restricted free agent without arbitration rights this offseason. His new contract comes in below his $874,125 qualifying offer.
Selected with the last pick of the first round in 2018, Alexeyev made the jump to the NHL full-time this season, although he likely wouldn’t have if not for significant injuries to the Washington blue line. Playing in 32 games with the Capitals, Alexeyev registered five assists and a -2 rating.
The hulking 6-foot-4, 210-pound defenseman was on a decent development track up until the past two seasons, even if the first-round selection was a tad bit of a reach. But his offensive production in the minors last season took a nosedive, posting 19 points in 68 games with the AHL’s Hershey Bears, and didn’t showcase a ton in the NHL this year.
That’s not to say Alexeyev is a bust. Defensemen do traditionally take longer to develop, and he still has plenty of ground left to cover at 23. Unless Washington signs a significant upgrade on pending unrestricted free agent Matt Irwin, Alexeyev is destined for a spot on Washington’s roster out of camp next year, where he’ll get another chance to show what he’s capable of at the NHL level, especially in his transition game.