Capitals GM is okay with staying out of the free agent frenzy

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The Washington Capitals have plenty of cap space, but the Washington Post is reporting that Capitals GM George McPhee doesn’t want to spend it all on the 2012 unrestricted free agent market.

“It’s a very inflated market this summer. There aren’t very many players and there are a lot of teams pursuing the players,” McPhee said. “At some point you start inventing players, making them out to be better than they are and paying more than you should. It’s sometimes best to sit back and stay out of it.”

That’s certainly a fair point, although some of that inflation is probably due to the cap rising and not just because the market wasn’t particularly impressive to begin with.

Either way, the Capitals have parted ways with Dennis Wideman and they’re expected to watch Alexander Semin walk away. Still, they should re-sign restricted free agent defensemen Mike Green and John Carlson. On top of that, the Capitals acquired Mike Ribeiro from the Dallas Stars on June 22.

So they haven’t been sitting on their hands, even if their biggest their biggest July addition has been Joey Crabb.