Salary Cap Deep Dive: Washington Capitals
Navigating the salary cap is one of the most important tasks for a front office. Teams that can avoid 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 often 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 2024-25 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 PuckPedia. We’re currently covering the Metropolitan Division, next up is the Capitals.
Washington Capitals
Current Cap Hit: $98,665,965 (above the $88MM Upper Limit)
Entry-Level Contracts
F Hendrix Lapierre (one year, $863K)
Potential Bonuses
Lapierre: $445K
Lapierre spent the bulk of last season with Washington with some short stints with AHL Hershey mixed in. Most of that time was in a bottom-six role, one he’s likely to have this season as well which means his bonuses are unlikely to be met, aside from possibly any games-played ones. A bridge agreement should be the outcome for Lapierre who, if he stays in the bottom six for most of this season, could possibly double his current price tag next summer.
Signed Through 2024-25, Non-Entry-Level
D Alexander Alexeyev ($825K, RFA)
F Nicklas Backstrom ($9.2MM, UFA)
D Ethan Bear ($2.0625MM, UFA)
D Jakob Chychrun ($4.6MM, UFA)
F Nic Dowd ($1.3MM, UFA)
G Charlie Lindgren ($1.1MM, UFA)
F Andrew Mangiapane ($5.8MM, UFA)
D Dylan McIlrath ($775K, UFA)
F T.J. Oshie ($5.75MM, UFA)
F Taylor Raddysh ($1MM, UFA)
G Logan Thompson ($766.7K, UFA)
F Jakub Vrana ($775K, UFA)
Let’s get Backstrom and Oshie out of the way together as they’re in the same situation. Backstrom remains on LTIR where he was for most of last season while it’s unlikely that Oshie will be able to suit up this season either. GM Chris Patrick’s early-offseason spending was a strong indicator that the team doesn’t believe Oshie will be cleared to play.
Mangiapane was one of the additions through that early spending. After scoring 35 goals in 2021-22 (yielding this contract), he has just 31 in the two years since then although he has reached at least 40 points each time. At this point, a small pay cut could be coming but if he can even get back to 30 goals with his new team, Mangiapane could push past $6MM next summer.
Dowd has gone from being a regular fourth liner a few years ago to a regular third liner, pushing past 20 points in three straight years now. A center who can kill penalties, he’s in line to potentially add another million per season or so to that number, albeit on a short-term deal as he’ll be 35 next summer. Raddysh was non-tendered this summer, resulting in him looking for a short-term rebound deal. Only a year removed from a 20-goal campaign, he could double this next summer if he can get back to the 15-goal mark or so. Vrana had to earn a deal the hard way through a PTO but landed one earlier this week. After bouncing around a bit in recent years, it’s hard to see him commanding much more than the minimum unless he has a big season offensively.
Chychrun was brought in via an early July trade to help bolster the back end. He doesn’t produce enough to be a high-end threat offensively but he has reached the double-digit goal mark in three of the last five years and reached the 40-point plateau last season as well. If he stays in that range while continuing to play heavy minutes, his next deal could surpass $7MM on a long-term agreement.
Bear was a midseason signing last year that hasn’t panned out yet. After exiting the Player Assistance Program over the offseason, he wound up not making the team and cleared waivers earlier this month. He’ll carry a pro-rated $912.5K cap charge while with AHL Hershey and if he’s there all season, he’ll be looking at something closer to the minimum next summer. Alexeyev has had a limited role so far in his NHL action, primarily playing part-time on the third pairing. His qualifying offer checks in just below $920K with arbitration rights next summer but Washington won’t be able to afford that roster spot costing much more than that. McIlrath, meanwhile, has primarily been in the minors in recent years and accordingly, his next deal should come in at or near the minimum salary again.
Lindgren was a late bloomer but since joining Washington two years ago, he has established himself as at least a capable NHL netminder. Last season, he wrestled away the number one job from Darcy Kuemper which will only help his cause in negotiations. Still, with a limited track record (just 110 career NHL appearances heading into the season), an early extension isn’t likely – both sides probably want to wait and see what happens – but if he has a similar year to this one, he should earn at least $3MM on a multi-year agreement next summer. If it’s another year as a true starter, the recent five-year, $25MM contract given to Joey Daccord could come up in talks.
Thompson also has somewhat of a limited track record in terms of experience but is also a few years younger with better career numbers after three strong seasons in Vegas. Accordingly, it wouldn’t be shocking if his camp is already eyeing something close to Daccord’s new deal if and when extension talks get underway. The cheapest goalie in the NHL, Thompson’s next deal will certainly change that soon enough.
Signed Through 2025-26
D John Carlson ($8MM, UFA)
F Brandon Duhaime ($1.85MM, UFA)
D Martin Fehervary ($2.675MM, RFA)
F Connor McMichael ($2.1MM, RFA)
F Sonny Milano ($1.9MM, UFA)
F Alex Ovechkin ($9.5MM, UFA)
D Trevor van Riemsdyk ($3MM, UFA)
Ovechkin is one of the top scorers in NHL history and even with a very high AAV for most of his career, he has lived up to it. That might be ending soon strictly from a bang-for-buck perspective. The 39-year-old had the lowest full-season production of his career and players generally don’t have a resurgent year at that age. That said, with all he has done for them and the chase for the all-time record, the Capitals won’t be too concerned if they’re not getting top value here.
McMichael received a bridge deal which was a pretty obvious outcome considering he spent most of 2022-23 in the minors. But if he can stay in the top six regularly, he could double that next time out with arbitration eligibility and if it looks like he’s a core piece for the future by then, a long-term deal could push past $5MM. Milano managed 15 goals in 49 games last season which isn’t bad production for that price tag but the book on him in recent years is that he can be effective only in a limited role. That has hindered his market before and probably will next time out unless something changes over the next couple of years. Duhaime is a crash-and-bang winger who only managed five goals last season, making this price tag seemingly a bit high for that role but perhaps a change of scenery will allow him to contribute a bit more offensively which would set him up to pass $2MM next time out.
While Carlson didn’t light up the scoresheet as much as he has in the past, he did reach the double-digit goal mark for the sixth time in the last seven years last season and logged a career high in ice time at nearly 26 minutes a night. That type of playing time is unsustainable for a 34-year-old but he doesn’t need to play that much to justify this deal. He remains an all-situations type of player which should give this contract a good chance to hold up value-wise over the final two seasons. It’s not inconceivable that he lands a small raise next time out although the likelier outcome is more of a medium-term agreement that would allow the AAV to be a bit lower.
As for van Riemsdyk, he has found a home in Washington, going from being a player toward the end of the depth chart to spending a lot of time on the second pairing. This price tag for someone in that role is good value. He’ll be entering his age-35 year on his next contract so he might be hard-pressed to get much more than this in 2026. Fehervary, meanwhile, is on his bridge deal and has similarly played a lot on the second pairing. Given that he’s still 25, he could push past the $4MM mark if things go well, perhaps $5MM on a long-term pact. His current deal is front-loaded, carrying just a $1.075MM qualifying offer two years from now.
Signed Through 2026-27
None
East Notes: Kapanen, Grimaldi, Thompson
After a strong training camp, Canadiens center prospect Oliver Kapanen was a surprise inclusion on the opening night roster. The 21-year-old pivot sat in the press box for their season opener against the Maple Leafs but made his NHL debut in last night’s loss to the Bruins, recording an assist and a shot on goal in 10:22 of ice time.
The 2021 second-round pick is demonstrating he has a decently high offensive ceiling. After all, he did show up in a big way for Liiga’s KalPa last year, posting 34 points (14 G, 20 A) in 51 games. That’s strong production for a youngster in a European pro league, and tacking on his six goals in eight games for the Finns at the 2024 World Championship, it’s clear he’s knocking on the door of full-time NHL minutes.
But there isn’t an extremely clear path to them yet, with Nick Suzuki, Kirby Dach, Jake Evans, and Christian Dvorak down the middle. It’s foreseeable that Kapanen won’t spend the whole year on the NHL roster. While they would typically be required to first offer him back to his European team (now Timrå IK of the Swedish Hockey League) due to transfer regulations for some international non-first-round picks, that may not be the case. He could spend the rest of the season on assignment to AHL Laval if he spends at least 60 days on Montreal’s roster to open the campaign, as Marco D’Amico of Responsible Gambler pointed out. That’s a decently likely scenario with Rafaël Harvey-Pinard and Patrik Laine facing long-term injuries. Kapanen would likely play out the rest of the year in the minors once one is ready to return.
Elsewhere in the Eastern Conference:
- The Blue Jackets’ AHL affiliate, the Cleveland Monsters, have landed minor-league scoring star Rocco Grimaldi on a 25-game tryout, per Aaron Portzline of The Athletic. He’ll suit up with the Monsters to start the year while he continues his quest to land a two-way NHL contract. The undersized 31-year-old last saw NHL minutes with the Predators in the 2021-22 campaign, but he’s been an adequate depth offensive presence when given the chance, with 30 goals and 37 assists in 203 career NHL appearances. The former second-round pick of the Panthers has posted over a point per game in three straight AHL campaigns, including 73 in 72 games last year with the AHL’s Chicago Wolves.
- Capitals netminder Logan Thompson has returned to the team today after missing a few days while on personal leave, reports Sammi Silber of The Hockey News. The Caps don’t open their season until tomorrow, so it’s unclear if their offseason trade pickup from Vegas will get the opening-night start over resident No. 1 Charlie Lindgren. Thompson made a career-high 42 starts for the Golden Knights last year, posting a 25-14-5 record with a .908 SV%, 2.70 GAA, one shutout, and 6.5 GSAA.
Logan Thompson Should Return Tomorrow
The Washington Capitals won’t start their regular season until this Saturday giving their new goaltender plenty of time to return. Tom Gulitti of the NHL relayed a note from head coach Spencer Carbery that goaltender Logan Thompson is expected back at practice tomorrow after being away from the team for personal reasons.
The Capitals acquired Thompson this past offseason from the Vegas Golden Knights for a pair of third-round picks. It was an odd move at the time given how close Vegas’ is to the cap for the 2024-25 season. Thompson is on the last year of a three-year, $2.3MM contract signed with the Golden Knights in 2022 with a $767K cap hit. Still, it makes some sense for Vegas to get something for a netminder who surely would have left in unrestricted free agency next summer.
Capitals Activate, Waive Spencer Smallman
The Capitals have placed right winger Spencer Smallman on waivers for the purpose of assignment to AHL Hershey, PuckPedia reports. That signals he’s been activated from season-opening injured reserve and is cleared to return from the undisclosed injury that kept him out of training camp.
Smallman, 28, has never cracked an NHL roster. His career began as a fifth-round pick of the Hurricanes in 2015. He spent his first five professional seasons playing for the organization’s AHL and ECHL affiliates before becoming a Group VI UFA in 2022 and signing with the Avalanche.
His time with the AHL’s Colorado Eagles didn’t yield him any NHL call-ups, but he did post a career-best 13 goals in 61 AHL games in 2022-23. The 6’1″, 198-lb winger is a decent skater but hasn’t posted the point totals at the minor-league level to even receive outside consideration for a call-up at this stage. The Prince Edward Island native has 95 points (38 G, 57 A) in 244 career appearances at the AHL level.
Washington inked Smallman to a two-way deal ($775K/$350K) this summer, bringing him in to join the Hershey Bears as they try for their third straight Calder Cup championship.
Capitals Sign Jakub Vrana
Oct. 8: The Capitals have made Vrana’s signing official. It’s a league-minimum deal, as reported.
Oct. 7: The Washington Capitals are bringing back a familiar face on a guaranteed contract. PuckPedia reported earlier today that the organization will sign forward Jakub Vrana to a one-year, $775K contract after playing on a professional tryout agreement for the preseason.
Vrana’s contract won’t be registered until tomorrow when the Capitals are expected to make the signing official. He will start the season on Washington’s opening night roster and play his first game with the organization in over three years.
He was originally drafted by the Capitals with the 13th overall pick of the 2014 NHL Draft and debuted with the club in 2016-17. It wasn’t an encouraging start to his NHL career, with three goals and six points in his first 21 games.
His play picked up over the next three years, with 62 goals and 126 points for the Capitals in 224 games from 2018-2020. He played a part in Washington’s run to their first Stanley Cup championship in the 2018 Stanley Cup playoffs, scoring three goals and eight points in 23 games, including the first goal of the clincher.
Although Vrana was an emerging member of the Capitals’ top six, the team traded him to the Detroit Red Wings during the 2020-21 season for Anthony Mantha. He got off to an electric start on a poor Red Wings team with eight goals and 11 points in 11 games.
His time in the Motor City was shortlived thanks to injuries and a stint in the NHL/NHLPA Player Assistance Program. He finished his tenure in Detroit with 22 goals and 32 points in 42 games before being traded to the St. Louis Blues in 2022-23.
Vrana finished the 2023-24 season with two goals and six points in 21 games while being demoted to their AHL affiliate for much of the year. He’s far removed from earning the three-year, $15.75MM contract the Red Wings gave him in 2021, but Vrana and the Capitals hope he can turn his career around in a familiar environment.
Capitals Reassign Ivan Miroshnichenko, Andrew Cristall
The Capitals have sent left-winger Ivan Miroshnichenko to AHL Hershey and returned left-winger Andrew Cristall to the WHL’s Kelowna Rockets, the team announced. Both were hoping to crack Washington’s opening night roster on the backs of solid training camp performances but will need to wait another year.
Miroshnichenko, 20, made his NHL debut last season and was shuttled between leagues for most of the 2024 calendar year. He’s still waiver-exempt with 138 games played and two professional seasons remaining until he loses that status.
He was drafted by the Capitals in the first round of the 2022 draft while dealing with a Hodgkin’s lymphoma diagnosis that he’s since beaten. After returning to health during the 2022-23 season, he signed his entry-level pact with Washington and came to North America for the 2023-24 campaign. He started the year in Hershey, totaling nine goals and 25 points in 47 games. He was much-improved in playoff action, contributing 12 points in 20 contests to help Hershey to its second straight Calder Cup championship.
The sharp-shooting winger didn’t look entirely out of place in NHL action last year, either. He made 21 regular-season appearances, totaling two goals and six points – a 23-point pace over 82 games, averaging 12:08 a night. He posted a -4 rating with a subpar 42.4 xGF% at even strength but did manage to control 47.6% of shot attempts, 2.7% more than the Caps controlled without him on the ice in his appearances. The 6’1″, 185-lb Russian flashed some physical play, too, recording 50 hits for an average of 2.38 per game.
While neither move is surprising, Cristall’s return to Kelowna is wholly expected. He made it much further in camp than most expected him to one year after being selected 40th overall in the 2023 draft, a testament to the dynamic offensive upside many teams let slip through the cracks. The 19-year-old Vancouver native has produced over a point per game in three straight WHL seasons and finished fifth in the league in scoring last season with 111 points (40 G, 71 A) in 62 games.
However, Cristall still needs to round out his defensive game before he’s ready for NHL ice. While Washington likely would have preferred to send him to Hershey to do that this year, he’s too young for a full-time AHL assignment and needed to be returned to the Rockets. As such, his entry-level contract will slide to the 2025-26 season, and he won’t count against Washington’s 50-contract limit this season.
The moves strongly indicate that Jakub Vrána, who attended Capitals camp on a professional tryout, has landed a contract. They’re likely waiting to make some minor moves to make an official announcement, but they have just 11 healthy forwards on their roster after sending down Cristall and Miroshnichenko.
Waiver Wire: 10/6/24
Today is the major day for the waiver wire as most teams in the NHL are preparing the 23-man rosters for the 2024-25 NHL season. Sportsnet’s Elliotte Friedman confirmed that all players on waivers from yesterday have cleared. The following list is each player placed on waivers this afternoon as reported by PuckPedia.
Boston Bruins
F Patrick Brown
G Brandon Bussi
G Jiri Patera
D Billy Sweezey
F Jeffrey Viel
Buffalo Sabres
D Kale Clague
G James Reimer
F Lukas Rousek
Calgary Flames
G Devin Cooley
F Jakob Pelletier
F Cole Schwindt
Carolina Hurricanes
F Josiah Slavin
D Ty Smith
F Ryan Suzuki
Chicago Blackhawks
Detroit Red Wings
F Sheldon Dries
D Justin Holl
D William Lagesson
D Brogan Rafferty
F Joe Snively
Edmonton Oilers
D Josh Brown
F Drake Caggiula
F Raphael Lavoie
G Olivier Rodrigue
Los Angeles Kings
G Pheonix Copley
F Samuel Fagemo
F Jack Studnicka
Nashville Predators
New Jersey Devils
F Shane Bowers
D Nick DeSimone
F Nolan Foote
D Colton White
New York Islanders
D Samuel Bolduc
F Pierre Engvall
F Hudson Fasching
F Liam Foudy
G Marcus Hogberg
D Grant Hutton
F Fredrik Karlstrom
G Jakub Skarek
New York Rangers
Ottawa Senators
Pittsburgh Penguins
D Sebastian Aho
F Bokondji Imama
St. Louis Blues
D Corey Schueneman
D Tyler Tucker
Tampa Bay Lightning
F Gage Goncalves
D Steven Santini
F Jesse Ylonen
Toronto Maple Leafs
G Matt Murray
D Marshall Rifai
Utah Hockey Club
Vancouver Canucks
Vegas Golden Knights
F Zach Aston-Reese
F Tanner Laczynski
F Jonas Rondbjerg
Washington Capitals
Winnipeg Jets
Training Camp Cuts: 10/5/24
With the preseason winding up this weekend, final roster cuts will be made across the NHL over the next couple of days. We’ll keep tabs on today’s cut-downs here.
Last Updated: 4:45 PM
Anaheim Ducks (per team announcement)
F Jansen Harkins (to AHL San Diego after clearing waivers)
Columbus Blue Jackets (per team announcement)
D Cole Clayton (to AHL Cleveland)
F Luca Del Bel Belluz (to AHL Cleveland)
F Trey Fix-Wolansky (to AHL Cleveland)
G Jet Greaves (to AHL Cleveland)
F Hunter McKown (to AHL Cleveland)
F Owen Sillinger (to AHL Cleveland)
D Stanislav Svozil (to AHL Cleveland)
Dallas Stars (per team announcement)
D Lian Bichsel (to AHL Texas)
F Matej Blumel (to AHL Texas)
F Arttu Hyry (to AHL Texas)
Detroit Red Wings (per team announcement)
F Alexandre Doucet (to AHL Grand Rapids)
F Amadeus Lombardi (to AHL Grand Rapids)
F Jakub Rychlovsky (to AHL Grand Rapids)
G Gage Alexander (to ECHL Toledo)
F Ondrej Becher (to AHL Grand Rapids)
F Hunter Johannes (released from PTO to AHL Grand Rapids)
D Josiah Didier (released from PTO to AHL Grand Rapids)
F Carson Bantle (to ECHL Toledo)
F Gabriel Seger (to ECHL Toledo)
D Chaz Reddekopp (to ECHL Toledo)
G Jan Bednar (to ECHL Toledo)
F Tim Gettinger (to injured non-roster list)
D Shai Buium (to injured non-roster list)
Minnesota Wild (per team announcement)
D Daemon Hunt (to AHL Iowa)
New York Rangers (per team announcement)
F Ryder Korczak (to AHL Hartford)
F Brennan Othmann (to AHL Hartford)
Ottawa Senators (per team announcement)
D Calen Addison (released from PTO)
Pittsburgh Penguins (per team announcement)
F Emil Bemstrom (to AHL Wilkes-Barre/Scranton after clearing waivers)
D Nate Clurman (to AHL Wilkes-Barre/Scranton after clearing waivers)
F Jonathan Gruden (to AHL Wilkes-Barre/Scranton after clearing waivers)
F Joona Koppanen (to AHL Wilkes-Barre/Scranton after clearing waivers)
D Filip Kral (to AHL Wilkes-Barre/Scranton after clearing waivers)
G Filip Larsson (to AHL Wilkes-Barre/Scranton)
D John Ludvig (to AHL Wilkes-Barre/Scranton after clearing waivers)
F Samuel Poulin (to AHL Wilkes-Barre/Scranton after clearing waivers)
Vancouver Canucks (per team announcement)
D Akito Hirose (to AHL Abbotsford)
Washington Capitals (per team announcement)
D Ethan Bear (to AHL Hershey after clearing waivers)
F Luke Philp (to AHL Hershey after clearing waivers)
F Michael Sgarbossa (to AHL Hershey after clearing waivers)
Waiver Wire: 10/4/24
According to Sportsnet’s Elliotte Friedman all 17 players on waivers yesterday have cleared. There are again several players to hit the wire today as reported by Friedman:
Anaheim Ducks
Boston Bruins
G Michael DiPietro
F Vinni Lettieri
D Jordan Oesterle
Florida Panthers
Los Angeles Kings
New Jersey Devils
F Justin Dowling
F Mike Hardman
F Samuel Laberge
F Nathan Légaré
F Maxwell Willman
Philadelphia Flyers
F Olle Lycksell
F Anthony Richard
Pittsburgh Penguins
F Emil Bemström
D Nate Clurman
F Jonathan Gruden
F Joona Koppanen
D Filip Král
D John Ludvig
F Samuel Poulin
Tampa Bay Lightning
Toronto Maple Leafs
Washington Capitals
Snapshots: Leafs, Kinkaid, Cristall, Brunicke
The Toronto Maple Leafs welcomed both John Tavares and Calle Jarnkrok back to the practice rink today shares David Alter of The Hockey News. Both players have been bearing through day-to-day lower-body injuries. Tavares notably suffered his on a hit from Montreal’s Michael Pezzetta in Toronto’s Thursday night preseason action. Both he and Jarnkrok will now have two preseason games remaining before the Leafs kick off their season against Montreal on October 9th.
Both Tavares and Jarnkrok could both be headed for Toronto’s third-line amid William Nylander‘s move to center and the growing presence of young prospects Matthew Knies and Nicholas Robertson. The diminishing role lines up with Tavares’ decreasing scoring, with 65 points last season falling 15 short of his 2022-23 totals. He’s finally been knocked off his streak of routine point-per-game scoring, even as his ice time saw a small uptick last year. Meanwhile, Jarnkrok has proven a utility tool in Toronto’s bottom six, recording 21 points and 65 faceoff wins in 52 games last season. Both players are pulling into their 30s and will work to bring gut-punch offense down the depth of Toronto’s lineup this year.
Alter adds that the Leafs were also joined by Jani Hakanpaa at today’s skate – the defender’s first appearance in a Maple Leaf after prolonged contract discussions this summer.
Other notes from around the league:
- Veteran goaltender Keith Kinkaid will play in his 14th pro season this year, as he’s signed a one-year contract with the AHL’s Charlotte Checkers. Kinkaid spent last season as the backup for the independent Chicago Wolves, recording eight wings and a .880 save percentage in 24 appearances. He’s been a depth option for the last three seasons, spending them split between the Rangers, Bruins, and Avalanche organizations. Kinkaid, 35, has managed 250 career AHL games and 169 career NHL games. He’s totaled a 70-58-21 record and .905 save percentage at the top flight, though he hasn’t played in multiple NHL games since the 2020-21 campaign.
- The Washington Capitals are open to starting top prospect Andrew Cristall in the NHL, head coach Spencer Carbery told Sammi Silber of The Hockey News. Cristall has been perhaps the top standout in Washington’s camp, and will be eligible to play in nine NHL games before he burns the first year of his entry-level contract. He’s been among the hottest scorers across the CHL for years now, totaling a dazzling 280 points across 191 career WHL games. That scoring has translated into the preseason, with Cristall boasting two goals and three points in three games so far – tied for the team-lead in Washington.
- Not to be outdone by their rivals, the Pittsburgh Penguins are also considering promoting a rookie – with head coach Mike Sullivan telling Kelsey Surmacz of The Hockey News that defender Harrison Brunicke could also receive a nine-game trial. Brunicke has been among the best defenders in Pittsburgh this preseason, forming strong connections with the team’s star scorers in the early going. It’s a blazing return-to-form for the WHL defender, who had his 2023-24 season ended by an upper-body injury in February.