Salary Cap Deep Dive: Washington Capitals
Navigating the salary cap is one of the more important tasks for any GM. Teams that can avert total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful. Those that don’t see struggles and front office changes.
PHR will look at every NHL team and give a thorough look at their cap situation heading into the 2020-21 season. This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL. All cap figures are courtesy of CapFriendly.
Washington Capitals
Current Cap Hit: $82,524,877 (over the $81.5MM Upper Limit)
Entry-Level Contracts
G Ilya Samsonov (one year, $925K)
Potential Bonuses
Samsonov: $600K
Samsonov lived up to the hype relatively well in his rookie season although injuries and the early shutdown limited him to 26 games and he was unable to participate in the playoffs. A lot will be riding on him for the upcoming season where he stands as the likely starter despite the inexperience. With 2020-21 being another shortened year, he probably won’t have a long enough track record to command a long-term contract and given Washington’s salary cap situation anyway, a two-or-three-year second deal may be better for both sides.
One Year Remaining, Non-Entry-Level
G Henrik Lundqvist ($1.5MM, UFA)
F Alex Ovechkin ($9.538MM, UFA)
D Jonas Siegenthaler ($800K, UFA)
D Trevor van Riemsdyk ($800K, UFA)
F Jakub Vrana ($3.35MM, RFA)
Ovechkin’s situation is well-known at this point. He isn’t hiding the fact that he intends to stay with Washington and basically, the only questions are for how many years and how much? His next deal will have a 35-plus classification but that shouldn’t be much concern. While there is an expectation that his production will eventually decline, he still should be able to command a similar price tag to what he’s making now. Vrana continues to improve each season and has firmly established himself as a top-six fixture. He will have two RFA-eligible years remaining after 2020-21 and with his bridge deal expiring, he’ll be looking for a long-term pact. In a normal market, something in the $6MM range would make sense and there are enough comparables to make that case in arbitration.
Siegenthaler played a limited role last season but figures to be a part of their longer-term plans. However, he’ll still be line for third-pairing minutes so while he’ll be arbitration-eligible next offseason (something that wasn’t the case this time around), he still is only going to be able to command a small raise. As for van Riemsdyk, he’s looking to restore some value after taking a $1.7MM pay cut from his 2019-20 salary. If he can lock down a regular spot, this could be a nice situation for him to earn closer to double that amount next offseason.
As for Lundqvist, he was signed to be a veteran mentor to Samsonov but that is off the table now following today’s news that he will miss all of 2020-21 due to a heart condition. He will be eligible to be placed on LTIR as a result but with his low base salary, they won’t have much extra flexibility left by the time they replace him on the roster.
Two Years Remaining
G Pheonix Copley ($1.1MM, UFA)
F Nic Dowd ($750K, UFA)
D Michal Kempny ($2.5MM, UFA)
D Justin Schultz ($4MM, UFA)
G Vitek Vanecek ($717K, RFA)
Dowd saw his output dip slightly last season but for a player making close to the league minimum, expectations weren’t particularly high anyway. He’s a serviceable fourth center in a roster spot that will need to be kept at that minimum price point for the foreseeable future.
Kempny had emerged as a capable top-four option on the back end but it’s unlikely he’ll play this season after suffering a torn Achilles tendon while training in the days leading up to free agency. That injury carries a six-to-eight-month recovery timeline which means a lot will be riding on his 2021-22 performance to show that he can still play in that role and be worth a raise that offseason. His absence helped opened up a spot for Schultz who still landed a strong contract despite a tough season with Pittsburgh. Clearly, the expectation is that he will be able to get back to his previous offensive levels. If that doesn’t happen, he won’t be able to command this deal next time around.
Copley and Vanecek will now battle for the number two job behind Samsonov. The former has limited NHL experience as a backup in Washington and will carry a $25K cap hit if demoted to the AHL. Vanecek, meanwhile, was Braden Holtby’s backup in the bubble with Samsonov out and may be the early favorite for the role. Unless one gets into a platoon situation, neither will be able to command top backup money, especially if Samsonov winds up on a bridge deal of his own.
Three Years Remaining
F Lars Eller ($3.5MM, UFA)
F Carl Hagelin ($2.75MM, UFA)
F Garnet Hathaway ($1.5MM, UFA)
D Nick Jensen ($2.5MM, UFA)
D Dmitry Orlov ($5.1MM, UFA)
F Richard Panik ($2.75MM, UFA)
Eller has fit in quite well as Washington’s third center, one that can play up the lineup when need be. While bottom-six players could see their earnings upside limited due to the pandemic, this should still hold up as a decent value contract in the current marketplace. Hagelin isn’t able to put up consistent secondary production at this point of his career so while he’s an effective penalty killer and a speedster still, it’s a bit of an expensive deal for his role. Panik logged just 11 minutes a game last season as he didn’t fit in as well as anyone would have hoped in his first season with the Caps and it’s a deal that they’d probably like to get out of. Hathaway is a pure fourth liner most nights and this contract is an overpayment as well for someone in that role, though not as significant of one as Panik who was often his linemate down the stretch.
At one point, it looked like Orlov’s offensive production was going to find another level and that, coupled with his all-around play, would make his deal a major bargain. However, his goal total has dipped from ten goals in 2017-18 to just three and four over the past two years. But having said that, he’s still a big part of their back end and while the contract may not be the big bargain they had hoped for, they’ve still had a good return on it. That can’t be said for Jensen though. His extension that he signed upon being acquired hasn’t panned out well and is a contract they would certainly like to get out of, especially with a capable replacement in van Riemsdyk making a third of that amount. But with so many teams against the cap ceiling, moving him will be easier said than done.
Zach Fucale Loaned To ECHL
When the Washington Capitals signed Zach Fucale to a one-year, two-way contract this summer it made for quite the crowded crease in Hershey, the team’s AHL affiliate. With Henrik Lundqvist taking the other spot in the NHL, Pheonix Copley and Vitek Vanecek were penciled into the third and fourth-string spots. Fucale seemed likely to be headed back to the ECHL and today that’s exactly what happened. The Capitals have loaned Fucale to the South Carolina Stingrays.
Fucale, who is still only 25 despite his draft seeming like decades ago, was selected 36th overall by the Montreal Canadiens in 2013. An elite prospect who dominated at the junior level, winning the Memorial Cup and a gold medal with Canada at the WJC, he was never quite able to replicate that success at the next level.
Still, Fucale is a decorated goaltender on the international stage, winning two Spengler Cups with Canada over the years. For a fifth-string option in Washington, he’s hard to top.
South Carolina starts their season tomorrow with a match against the Greenville Swamp Rabbits to kick off the ECHL schedule.
Capitals Winger Beck Malenstyn Out Six To Eight Months
With the Capitals needing to keep some low-priced players at the end of their roster, winger Beck Malenstyn was expected to push for a spot with Washington in training camp. That won’t be the case now as the team announced (Twitter link) over the weekend that he will miss the next six-to-eight months after undergoing surgery to repair a torn Achilles tendon. The injury was sustained during offseason training.
The 22-year-old made his NHL debut last season, getting into three games with the Caps. He was held off the scoresheet while collecting five hits but was invited back as part of their reserves for the postseason this past summer. Malenstyn spent most of the season with AHL Hershey, putting up seven goals and eight assists in 46 games while playing an energy and penalty killing role which is what Washington will need from their depth options. However, this timeline basically takes out his entire 2020-21 campaign before it even gets started.
Even with defenseman Michal Kempny out long-term after undergoing Achilles tendon surgery of his own which makes him LTIR-eligible, the Capitals will still have very limited cap space to work with to round out their roster. As things stand, wingers Daniel Sprong, Shane Gersich, and Daniel Carr plus center Michael Sgarbossa are all likely in the mix for the 12th and 13th forward positions due to their low price tag and the fact they’ve had some NHL experience although GM Brian MacLellan could opt to add a veteran free agent to that mix as well.
Extension Talks For Alex Ovechkin Tabled Until Training Camp
While we know that Capitals winger Alex Ovechkin will eventually re-sign with Washington, that won’t happen for a while yet. NBC Sports Washington’s J.J. Regan relays that GM Brian MacLellan has tabled extension talks until the start of training camp, whenever that may be. The 35-year-old will be entering the final season of his 13-year, $124MM contract and while his prime years may have passed, he still should be a dynamic goal scorer in the NHL for several years to come. Ovechkin plans to represent himself in discussions with MacLellan, similar to what teammate Nicklas Backstrom did in his contract talks last season, one that led to a five-year, $46MM deal.
Metropolitan Notes: Konecny, Capitals, Blue Jackets
After two 24-goal seasons in Philadelphia, there were many that were concerned that Philadelphia Flyers forward Travis Konecny was at a crossroads in 2019-20 where his career would either take that next step or fall back. Konecny took that next step, scoring 24 goals for a third straight year, but also seeing a points increase of 12 in a pandemic-shortened season. Much of those offensive statistics can be credited to his improved defense, according to The Athletic’s Charlie O’Connor (subscription required).
With a new coach coming in last year in Alain Vigneault, Konecny put more of his offseason focus into developing his two-way game, which impressed the new coach, giving him more on-ice access during games, including playing late in games, something that he rarely saw under former head coach Dave Hakstol and then interim coach Scott Gordon. Vigneault’s confidence in Konecny led to an increase of minutes where he saw a 1:32 ATOI of more ice time.
While his regular season was a success, his playoffs was far from it with zero goals and seven assists in 16 games, including a big drop-off in his defensive ratings. The key to his future as a potential Flyers’ star is whether he can prove his two-way game is for real.
- While there is hope that the Washington Capitals drafted a pair of steals in the past two drafts in Connor McMichael and Hendrix Lapierre, The Athletic’s Tarik El-Bashir (subscription required) writes that it’s highly unlikely that either player will have much of a shot to crack Washington’s opening lineup this coming season. The scribe writes that the team has no interest in rushing one of their top prospects in the first place as well as the fact that both are centers and would have to beat out either Evgeny Kuznetsov, Nicklas Backstrom or Lars Eller, which isn’t going to happen.
- With Gustav Nyquist expected to miss the next five to six months due to shoulder surgery, the Columbus Blue Jackets could look to the free-agent market to add another forward. However, The Athletic’s Aaron Portzline (subscription required) writes that general manager Jarmo Kekalainen, not a fan of free agency, will wait and could just choose to promote player from within. Nyquist, who was likely going to play on the second line alongside Max Domi and Cam Atkinson, could be replaced by veterans Nick Foligno or Boone Jenner or even see what rookie Liam Foudy could do in a top-six role.
Alex Ovechkin Discusses His Playing Future
Capitals winger Alex Ovechkin still has several playing years left in him but the veteran is already thinking about the end of his playing career, one that doesn’t end in a Washington uniform. In an interview with RTVI’s Tina Kandelaki, Ovechkin stated that he sees himself winding up his career back home with Dynamo Moscow of the KHL, a team he suited up with before coming to the NHL while he also spent some time with them during the lockout before the 2012-13 season got underway.
Having said that, Washington fans shouldn’t be worrying that their franchise player will soon be leaving. In a follow-up question, he stated that he only wants to play for two teams in his career, Dynamo back home and with the Capitals in the NHL. The 35-year-old didn’t specify how long he sees himself staying in North America, theorizing it could be as long as five more years or as little as two.
Regardless of how long his next deal may be, Ovechkin basically publicly committing to another contract with Washington is the key takeaway here. He’s entering the final year of his 13-year, $124MM deal and acting as his own agent in negotiations by choosing to negotiate directly with GM Brian MacLellan but it’s clear he doesn’t have any plans to hit the open market.
The future first-ballot Hall of Famer sits eighth all-time with 706 goals and while he’s still 190 short of Wayne Gretzky’s record, he still should be a top goal-scorer for a while yet should he choose to stick around in the NHL for a medium-term deal. It’s quite possible that the length of his next contract will ultimately determine whether or not he gets that top spot.
Even with the pandemic levelling out the salary cap for the foreseeable future, there’s a good chance that Ovechkin’s AAV on his next contract will come in close to the $9.538MM mark on his current contract. It will be subject to 35-plus restrictions (unless the deal is uniform in salary each year, a new wrinkle in the CBA) which makes it less likely that a cheaper year or two is added on to try to lower the cap hit. At any rate, while Ovechkin’s heart may be set on finishing his playing career back home, his time with the Capitals isn’t ending anytime soon.
Photo courtesy of USA Today Sports Images.
Hendrix Lapierre Signs Entry-Level Contract
The Washington Capitals have signed their first-round selection, inking Hendrix Lapierre to a three-year, entry-level contract.
A few years ago, if someone had said that Lapierre would be available with the 22nd overall pick in the 2020 draft, they would have been laughed out of the building. Selected first overall in the 2018 QMJHL Entry Draft, Lapierre was considered a candidate to go in one of the very first few spots by the time he was 18. His rookie season went well, with Lapierre winning the Michel Bergeron Trophy as offensive rookie of the year, scoring 45 points in 48 games.
Unfortunately, during that first season for Chicoutimi, Lapierre suffered a concussion that forced him to miss several games. He would return and play well in the playoffs, before suiting up for Team Canada at the Hlinka-Gretzky (dominating the tournament competition). The next season, Lapierre suffered multiple head injuries over a short time period and he suffered endless symptoms. He had played just 19 games in the 2019-20 season.
It wasn’t until February that it was discovered that the injuries were not actually concussions, but related to a previous vertebrae injury. He was on track to return for Chicoutimi when the season was shut down due to COVID-19. The lack of in-person medical testing because of the lockdown only lessened teams’ comfort with selecting the talented youngster, which allowed him to drop all the way to the back half of the first round.
Washington, apparently unwilling to wait any longer, used the 80th overall pick to trade up two spots and take Lapierre at 22. Now, presumably after putting him through their own medical testing, they’ve given him his first pro contract.
Lapierre was back playing for Chicoutimi this season before the QMJHL instituted another temporary shutdown. He has eight points in four games.
Washington Capitals Re-Sign Jonas Siegenthaler
The Washington Capitals have finally come to terms with their last unsigned restricted free agent, and a bargain rate no less. The team has announced that defenseman Jonas Siegenthaler has signed a one-year contract extension. The deal carries a mere $800K salary. Siegenthaler will be an RFA again at the conclusion of the 2020-21 season.
Siegenthaler, 22, just wrapped up his first full season in the NHL, skating in 64 games for the Capitals. Siegenthaler was impressive for a rookie defenseman, recording nine points and a +11 rating, leading all regular defenseman in defensive zone start percentage, and finishing just shy of the team lead in blocked shots with 105. For a player of his age, Siegenthaler looked like a very effective defensive player and a future top-four shutdown option. The Swiss product has never been one to score many points, but he makes up for his lack of offense with his reliability on the back end.
While defensive defenseman are some of the more difficult players to valuate, few would have guessed that Siegenthaler’s new AAV would come in under $1MM, nevertheless $800K. The young defenseman was simply too good defensively in his rookie season. However, the Capitals are in a difficult spot with the salary cap, currently above the upper limit, even accounting for Siegenthaler’s minimal deal, and still need at least one more forward added to that calculation. Washington was going to need to make a move regardless, but Siegenthaler settling for a low salary number this year will make for an easier salary dump. However, the trade-off for help in the present is cost in the future. If Siegenthaler even duplicates his rookie season, he will have that much more leverage next off-season when it comes to finally negotiating a long-term deal, not to mention salary arbitration eligibility. Siegenthaler took a team-friendly deal this year and will likely cash in next summer.
Snapshots: Bedard, Seattle, McCarthy
Move over Alexis, a new Canadian prospect is here. Connor Bedard, the first player to be granted exceptional status in the WHL, suited up for HV71 in the Swedish under-20 league today. Bedard only turned 15 a few months ago and was picked by the Regina Pats first overall in the 2020 WHL Bantam Draft, but is getting his first taste of play this season overseas.
The incredibly shifty, talented forward from Vancouver is eligible for the 2023 NHL draft but is already wowing scouts all over the world. His development is obviously extremely important, but a move like this to play overseas only highlights how difficult this season could be for many other prospects that are waiting on their WHL and OHL schedules to begin. Not everyone is Bedard, receiving a prime opportunity to play with a strong European organization.
- The Seattle Kraken have hired seven new people for their organization, including former NHL forward Gary Roberts, who will receive the title of sports science and performance consultant. The other names, which include Michael Booi, Nate Brookreson, Jeff Camelio, and Tim Ohashi all seem to be strong hires with long successful resumes of their own. Roberts though will get the headlines, thanks to his yearly offseason strength and conditioning work with players like Steven Stamkos and Connor McDavid. Roberts of course is a former teammate of Kraken GM Ron Francis in both Carolina and Toronto.
- The Washington Capitals have hired Kevin McCarthy as an assistant coach, joining Peter Laviolette‘s new staff. McCarthy will work with the team’s defensemen and has worked with Laviolette for years, in Nashville, Philadelphia and Carolina. He joins a staff that also includes Scott Arniel, Blaine Forsythe and Scott Murray.
Washington Capitals Re-Sign Shane Gersich
The Washington Capitals are down to just one restricted free agent remaining after re-signing Shane Gersich to a one-year, two-way contract worth $700K at the NHL level. Gersich and Jonas Siegenthaler were the last two RFAs to get under contract, neither of whom have arbitration rights.
The 24-year-old Gersich has played just three games at the NHL level, all of which came at the end of the 2017-18 season after signing out of the University of North Dakota. The two following seasons have been spent entirely at the minor league level, where Gersich has 42 points in 120 regular season games.
A fifth-round pick in 2014, he shouldn’t be expected to become the next impact player for the Capitals but is a worthwhile minor league depth player to keep around. He’ll still be a restricted free agent next offseason, barely missing the age threshold for Group VI unrestricted free agency.