Washington Capitals were free agency’s biggest spenders

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Now that free agency has, for the most part, settled down it’s time to step back and see who did the most damage.

No, we don’t mean who improved themselves the most — we’re talking about raw dollars spent. This year’s winner? The Washington Capitals.

Sure there are more players left to be signed, but the big crush is over. Considering no one has been officially signed since July 4, we’ll say it’s pretty much done for now.

As Alex Prewitt of The Washington Post shared and CapGeek.com tabulated, the Capitals spent the most money on new contracts this summer spending $69.65 million on 14 years worth of deals to Brooks Orpik, Matt Niskanen, and Justin Peters.

The Tampa Bay Lightning were next on the list with $64.85 million spent over 15 years worth of contracts. Adding Anton Stralman, Brian Boyle, and Evgeni Nabokov didn’t really make the numbers pop but re-signing Ryan Callahan to a six-year, $34.8 million deal sure did.

Rounding out the top three are the Florida Panthers were the next biggest spenders with $60.4 million spent on 18 years worth of deals to Willie Mitchell, Jussi Jokinen, Dave Bolland, Derek MacKenzie, Shawn Thornton, and Al Montoya. While the Panthers broke the bank on Bolland, their total shows every little bit adds up.

The spending of the former Southeast Division foes helped keep the New York Islanders ($57.95 million) and Buffalo Sabres ($46.375 million) out of the top three of the list, but did go to show that making sure to get above the salary floor takes a bit of work.

The Isles added $15.587 million to their cap total for next season while the Sabres added $14.875 million. Those two are distant runners-up to the New Jersey Devils ($18.262 million) and Florida ($17.3 million) to boosting their cap number.

It’s like what Sabres GM Tim Murray has been saying whenever he was asked about whether his team will hit the cap floor or not: “Spending money is easy.” As for the cap floor, only the Calgary Flames have yet to reach the $51 million mark according to Cap Geek and they’re under that by just $563,333.