Washington Capitals retain salary cap space to re-sign Alex Ovechkin
Washington Capitals general manager Chris Patrick has confirmed the franchise retains enough salary cap and roster space to re-sign captain Alex Ovechkin for a 22nd NHL season.
The NHL’s all-time leading goalscorer, who turns 41 in September, is currently an unrestricted free agent and has yet to decide on his playing future.
His primary concerns reportedly centre around his physical health and whether the franchise has upgraded its roster enough to contend for a Stanley Cup after missing the playoffs last term.
“He hasn’t made a decision yet,” Patrick told ESPN.
“I think part of it was seeing where we are after today and that we’re trying to do as much as we can to improve the team.”
Aggressive offseason rebuild
The Eastern Conference side have been one of the league’s most active teams during the offseason trading period.
They acquired star winger Jordan Kyrou from the St Louis Blues, before executing a sign-and-trade deal with the Buffalo Sabres for highly-rated forward Alex Tuch.
Further depth was added as free agency opened, bringing in forwards Boone Jenner and Jonny Brodzinski alongside defensemen Justin Holl and Vincent Desharnais.
Those acquisitions leave the organisation with 14 forwards under contract and approximately $4.37m (£3.45m) in available salary space.
Structuring a potential deal
Despite the signing spree prompting speculation that their long-time captain would not return, Patrick insists the necessary financial mechanisms remain in place.
“I think we can do something that would work for Alex based on conversations we had with him prior to him leaving,” Patrick explained.
“There are ways to get him the money that he needs because of his age and the kind of contracts you can do.”
Under collective bargaining rules, the veteran is eligible for a heavily incentivised one-year contract permitted for players aged 35 or older.
Patrick cited Evgeni Malkin’s recent extension with the Pittsburgh Penguins as a viable blueprint to manage the salary cap implications.
Malkin’s deal features a low base salary heavily supplemented by signing and performance bonuses, yielding a smaller official cap hit next season.
Life left in the tank
The Russian forward proved he remains a potent offensive threat last season, leading the team with 32 goals and 64 points.
He sits on 929 career regular-season goals, further extending his own NHL record.
While Patrick has not spoken directly to the legendary forward during the recent flurry of roster moves, head coach Spencer Carbery has remained in contact.
The player himself previously suggested that he was “pretty sure” last season’s finale was not the end of his illustrious career.