The Washington Capitals are strapped for cash. According to CapFriendly, with only just over $3.7 million in salary cap space, general manager Brian MacLellan needs to make big decisions to ensure the team gets better and younger before October.
On Wednesday afternoon, MacLellan pulled the trigger on acquiring 25-year-old center Pierre-Luc Dubois from the Los Angeles Kings, sending goaltender Darcy Kuemper and his $5.25 million annual salary cap hit westward. Younger? Check. Better? To be determined.
But despite offloading the struggling Kuemper's contract, Dubois' $8.5 million annual cap hit means MacLellan shrunk Washington's cap space by $3.25 million.
So, how can Washington find financial flexibility to address the rest of their offseason needs? Two fan-favorite players may have to hang up their skates or sacrifice the final year of their contracts by being placed on long-term injured reserve.
17-year veteran center Niklas Backstrom played the first eight games of Washington's 2023-24 season but spent the rest on long-term injured reserve (LTIR) with a nagging hip injury. He's expected to spend the entirety of the 2024-25 season, the final year of his contract and potentially his career, on LTIR as well, according to NHL.com's Tom Gulitti.
That would afford Washington an additional $9.2 million in cap space, bringing their total to roughly $12.9 million.
Dubois fills the hole on their second line after MacLellan dealt Evgeny Kuznetsov to the Carolina Hurricanes in March. Last season, Washington struggled up the middle of the ice, with only Dylan Strome and Nic Dowd as truly established NHL centers. 23-year-old Connor McMichael could fill the additional gap as a natural center, but last year, head coach Spencer Carbery slotted him on the left wing instead.
Washington has been connected to former Pittsburgh Penguins center Jake Guentzel, who spent the 2024 playoffs with Carolina after being traded and is now a free agent, but to afford his signature they'd need an additional cash boost.
That's where Washington fan favorite T.J. Oshie may have to make a difficult decision. He's dealt with chronic back pain and told the media after being eliminated from the 2024 playoffs that he would only return to the team if his back issues were fixed.
If Oshie, 37, decides to retire or spend the final remaining year of his contract on LTIR, like Backstrom, Washington would have an additional $5.75 million to play with. That would total their cap space at almost $18.7 million — more than enough to pursue Guentzel, 29, and potentially an additional depth piece.
Washington could also find more money in letting unrestricted free agents like Nicolas Aube-Kubel and Max Pacioretty walk. Pacioretty, recovering from an ACL injury last season, hardly made a dent with just four goals in 47 games, so he wouldn't be missed. Aube-Kubel is worth potentially keeping around as a depth piece for his work ethic despite posting only 16 points in 60 games.
If they want to invest in getting younger and spending minimally, their AHL affiliate, the Hershey Bears, is stacked with Washington signees eager to jump to the NHL and prove their worth — but that would indicate a full rebuild is on.
MacLellan does not appear ready to commit to that just yet. Washington finds itself in a situation where a retooling, sans Oshie and Backstrom, could afford them the opportunity to stay competitive in captain Alex Ovechkin's final seasons.
