Hours after a 5 PM deadline for qualifying offers, Bob McKenzie is reporting that the Caps have agreed to terms with right wing Brett Connolly on a two-year deal with a cap hit of $1.5 million per season. The 25-year-old forward is coming off a career season where he scored 15 goals and was a meaningful contributor from the third line.

Brett Connolly has agreed to terms on a two-year deal with WSH. AAV of $1.5M.

— Bob McKenzie (@TSNBobMcKenzie) June 27, 2017

Earlier today the Caps declined to extend a qualifying offer to Connolly. This prevented the Caps from ending up in arbitration with Connolly and an arbitrator potentially awarding Connolly a contract that the Caps could not afford given their current salary cap situation.

Instead, Connolly likely got a little less than he would have in arbitration but gets more security in a two-year deal. This deal falls right in line with what Connolly was projected to earn by Hockey Graph’s Matt Cane, who had a $1,521,073 projected salary for Connolly this season.

Our pal Micah McCury likes the deal.

1.5m is a steal for Brett Connolly. pic.twitter.com/fWjcxx43ud

— Micah Blake McCurdy (@IneffectiveMath) June 27, 2017