Alex Ovechkin was pleased by the Washington Capitals’ aggressive offseason moves, which appeared to immediately turn the team into a Stanley Cup contender. But there was also one unintended consequence: Ovechkin became concerned the Capitals could no longer afford him.
Ovechkin made comments about his contract-related anxiety while being interviewed on FONBET’s “FONtour 2026 World Cup”, as translated by Google Translate.
Alex Ovechkin: I was worried. What if they didn’t give me [the contract]?
Andrey Arshavin: Because of the amount?
Alex Ovechkin: No, I was worried that there wouldn’t be enough cap space to sign me.
Andrey Arshavin: You were a free agent. Someone had to call first. How did that happen?
Alex Ovechkin: We talked with the general manager after the season and decided to postpone the decision until free agency. They signed Tuch and Kyrou.
Andrey Arshavin: What did you agree on when you returned to Russia?
Alex Ovechkin: That the next conversation will be after July 1.
Andrey Arshavin: July 1 is coming, who called whom?
Alex Ovechkin: I was texting the general manager, and he said, “Let’s do a video call tomorrow.” We talked for 10 minutes.
Andrey Arshavin: They just said we want you for a year and named the amount?
Alex Ovechkin: Yes.
During the offseason, the Capitals added Alex Tuch ($10.5M), Jordan Kyrou ($8.125M), Boone Jenner ($5.75M), and Vincent Desharnais ($4.2M) through trade or free agency, taking on $28.575 million of new salary.
Heading into negotiations with Ovechkin, the Capitals had $5.225 million left in cap space after inking Jenner to his new deal. [Editor’s note: At the time, PuckPedia had the number at $3.5 million with several likely minor leaguers on the Capitals active roster.] General manager Chris Patrick also had more wiggle room than it appeared, as Rasmus Sandin’s $4.6 million cap hit is eligible to start the season on long-term injured reserve. The Swedish defenseman underwent offseason surgery on his right knee, and his timeline to return is anywhere between late October and late January.
Ultimately, after that 10-minute call, Ovechkin signed a one-year contract with a $4.25 million cap hit next season. Ovechkin is eligible to earn $9 million total under the new deal, where he can achieve a $4.75 million performance bonus if he plays in at least 10 games. Ovechkin’s bonus, as well as potential performance bonuses from Ryan Leonard, Ilya Protas, and Cole Hutson, will all be applied to the 2027-28 salary cap.
The Capitals now head into the 2026-27 season with $975k in remaining available cap space. Patrick has said the only remaining move the team might make is sending a player out to create roster space before the regular season starts.
