The Washington Capitals made a shrewd move in trading away Matt Niskanen for Radko Gudas, as the deal made Washington younger, cheaper, and possibly even better on defense. They used some of that newfound cap space to re-sign Carl Hagelin on Sunday, but the deal makes you wonder who might get lost in the salary cap shuffle.
First, the deal: the Capitals signed Hagelin, 30, to a four-year contract worth $11 million, which clocks in at a $2.75M cap hit.
The Capitals acquired Hagelin in a trade from the Los Angeles Kings that costs Washington its 2019 third-rounder (89th overall, via Cap Friendly). There was a conditional sixth-rounder, but the conditions were not met.
Hagelin’s speed and possession game proved to be a very nice fit for the Capitals, although his already declining offense may only sag more if the Swede hits the aging curve hard.
Hagelin went from the Penguins to the Kings, and then the Kings to the Capitals this season. He generated five goals and 19 points over 58 regular-season games, with his best work coming in Washington (three goals, 11 points in 20 games). Hagelin only managed an assist during Washington’s seven-game Round 1 series against the Hurricanes.
At this point in his career, it’s not as much about the points. Instead, it’s about Hagelin’s foot speed and overall play, two factors that are clearly very appealing to the Caps.
Overall, this is a reasonable deal, albeit with some concern over term.
The other concern, again, is who might this push out of Washington? Even with the considerable money savings from getting rid of Niskanen’s $5.75M for Gudas ($2.345M after Philly retained some salary), the Capitals have some decisions to make.
According to Cap Friendly, the Capitals have about $10.736M in cap space remaining, at least if the ceiling ends up being $83M. (Sportsnet’s Elliotte Friedman reports that there are at least some rumblings about it being closer to $82M, depending upon how escrow works out.)
The Capitals’ $72.264M in spending goes to 17 roster spots, and there are some substantial players who need new deals, or will hit the free agent market.
Things have been tumultuous with Burakovsky, but the 24-year-old is a nice talent. Would the Capitals lean toward moving his rights, or try to find a bridge deal?
The Capitals at least have Burakovsky as an RFA, although he is arbitration-eligible. The tougher situation might be with Connolly, who would be a UFA at 27. Connolly’s shown why he was a first-rounder (sixth overall by the Lightning in 2010), as he scored 22 goals and 46 points in 51 games last season. Those numbers are strong out of context, but they’re remarkable when you realize that Connolly only averaged 13:20 TOI per game in 2018-19.
For some context, Connolly generated 2.66 points per 60 minutes at even-strength this season, according to Natural Stat Trick. Connolly’s points-per-minute rate was the 18th-best in the NHL this past season for players who logged at least 100 minutes, better than Evgeny Kuznetsov (2.47) and Alex Ovechkin (2.39).
(Interestingly, Hagelin is the only Capitals player who generated a better rate, at least if you limit it to the 20 games he played with the Capitals, as Hagelin scored 2.72 points-per-60.)
So, more than worries about Hagelin aging – which will happen, but we’ll see how detrimental that process will be – the real misgiving would be wondering who can’t stay because Hagelin stayed put.
To be clear, this doesn’t mean that Hagelin means no Connolly, or no Burakovsky. It’s plausible that Connolly, in particular, was going to be a luxury Washington would need to say goodbye to, no matter what. Sometimes that’s just the painful reality of the salary cap era.
Still, Hagelin’s taking up $2.75M from 2019-20 through 2022-23, so it does cost Washington that much space.
Overall, the Capitals’ situation remains challenging, and it really solidifies the thought that they really needed to part ways with Niskanen. Not only did they go cheaper for 2019-20, but Gudas’ contract runs out after next season, while Washington would have been on the hook for Niskanen at $5.75M through 2020-21.
Unless the Capitals have something bold planned, such as a rather severe leap from goalie prospect Ilya Samsonov, you’d think both Holtby and Backstrom would be getting big raises.
So that makes a difficult situation even more complicated, as the Capitals don’t want to tie up too much money when those bargain contracts are coming up. Heck, even Alex Ovechkin’s situation will be something to watch, as the 33-year-old’s seemingly eternal $9.54M cap hit runs out after 2020-21.
In other words, the Capitals provided an answer by re-signing Hagelin, but they have plenty of other, tougher questions lingering, and by opening that window, they might have closed a door for another would-be player.