After taking a huge step forward in the 2024-25 season, the Washington Capitals hope that the experience gained by their younger players and a few more tweaks will help them garner another Stanley Cup from the Alex Ovechkin era.
With a few areas of need following their five-game exit in the second round of the Stanley Cup Playoffs against the Carolina Hurricanes, NoVa Caps begins their offseason coverage by looking at who is most likely to stay in Washington and move elsewhere in our annual post-season trade tiers.
** NOTE: Any player who played an NHL game this past season or served it on long-term injured reserve is included
Untouchable
This section includes only players who will not move from Washington under any circumstance.
- Ovechkin (one year, $9.5 million remaining on contract; no-movement clause) — Despite missing 17 games, Ovechkin, who will turn 40 on September 17, tied Buffalo Sabres center Tage Thompson for third in the NHL with 44 goals and led Washington with an average of 1.12 points-per-game (73 in 65). Ovechkin will almost certainly become the first player ever to score 900 career goals in October and it is awfully tough to imagine him doing it in any other jersey. The 2025-26 season will probably be Ovechkin’s last in the NHL.
- RW Tom Wilson (six, $6.5 million cap hit; 14-team no-trade clause) — The 31-year-old reaffirmed his status as a top-line winger with a career season where he notched 33 goals and 65 points in 81 games. Wilson will likely become Washington’s captain after next season and still has the ability to change a game (and postseason series) with his physicality (as we saw in Game 4 in the team’s first-round Stanley Cup Playoff series vs. the Montreal Canadiens) and offensive prowess.
- C Dylan Strome (three; $5 million) — The 28-year-old proved he could be a top-line center on a contending team after setting career-highs in goals (29) and points (82) for the third consecutive season. Strome, who tallied two goals and 11 points in 10 postseason games, could also very well have one of the best contracts in the NHL and has become a big part of Washington’s culture.
- C Aliaksei Protas (four; $3.375 million) — The 24-year-old established himself as a top-six forward after shattering his previous career highs with 30 goals, 36 assists, 66 points, and a +40 rating in 76 games. Like Strome, Protas is on a very team-friendly deal and a big piece of transitioning to the post-Ovechkin era.
- C Connor McMichael (one; $2.1 million) — The 24-year-old also blossomed into a top-six forward after setting career highs in goals (26), assists (31), points (57), and games played (82). McMichael found a home on Washington’s second-line and will be in line for a huge pay raise as he can become a restricted free agent on July 1, 2026. He will be eligible to sign a contract extension as early as this upcoming July 1.
- RW Ryan Leonard (two, $950,000) — The 20-year-old, who signed his entry-level contract on March 31 and was drafted eighth overall by Washington in 2023, tallied an empty-net goal in nine regular-season games and an assist in eight postseason games. He was scratched twice in the second round. Leonard finished the season with 30 goals and 49 points in 37 NCAA games at Boston College. He is Washington’s top prospect and a huge part of the organization’s future.
Almost Certainly Staying
This section includes players who will stick around but they do not play as big of a role as the core players do.
- LW Ivan Miroshnichenko (one, $950,000) — The 20th overall pick in 2022 and 21-year-old finished the season with 23 goals and 42 points in 53 AHL games and an empty-net goal and four points in 18 NHL contests during his sophomore season in North America. Miroshnichenko is another one of the Capitals’ highly coveted prospects and has a lot of talent but is still getting up to speed from the year he missed due to cancer. He will likely appear in more NHL games next season even if he is not up full-time.
- G Logan Thompson (six, $5.8 million; 15-team no-trade clause) — The 28-year-old, who signed a long-term extension mid season, tied for ninth league-wide with a .910 save percentage, finished seventh with a 2.49 goals-against average, and pitched two shutouts in 43 regular-season games, where he finished with a 9.46 five-on-five expected goals-save above average and career-best 31-6-6 record. Thompson, Washington’s starting goalie for the long haul, was also solid in the postseason with a .917 save percentage, 2.41 goals-against average, and 3.86 five-on-five expected goals-save above average.
- D Jakob Chychrun (eight, $9 million; no-movement clause) — The 27-year-old, who signed a max-term extension near the end of the regular-season, recorded 20 goals (third among NHL defensemen), 47 points (tied with MacKenzie Weegar of the Calgary Flames for 16th), a +17 rating, .522 five-on-five Corsi-for percentage, .4872 five-on-five expected goals-for percentage, and .5249 five-on-five scoring chances-for percentage in 74 games, where he averaged 21:04 per game, including 2:15 on the power play (both second among Washington defensemen). Chychrun, who will be relied heavily upon for offense from the backend for years to come with John Carlson’s contract set to expire after next season, added three goals and five points in the postseason.
- D Martin Fehervary (one, $2.675 million) — The 25-year-old set NHL career-highs in assists (20), points (25), plus-minus (+18), and games played (81) while also recording a .5087 five-on-five Corsi-for percentage, .5047 five-on-five expected goals-for percentage, and .5252 five-on-five scoring chances-for percentage in 81 games before undergoing a procedure on his right knee on April 22 and getting shut down for the postseason. Fehervary averaged 19:00 per game (fifth among Capitals blueliners), including a team-leading 3:02 on the penalty kill, and his absence was noticeable in the second round. With Fehervary in his prime at a reasonable cap hit, the Capitals will keep him around after realizing how important he really is.
- C Pierre-Luc Dubois (six, $8.5 million; no-movement clause) — The 26-year-old set career-highs with 46 assists, 66 points, a +27 rating, and .547 five-on-five expected goals-for percentage in 82 regular-season games during his first full season after getting traded from the Los Angeles Kings for goaltender Darcy Kuemper on June 19. Dubois was deployed against the other teams’ top lines and ultimately in the Selke Trophy conversation as the NHL’s best defensive forward towards the end of the campaign. Although, his production faded in the postseason with just three helpers, he did his job in shutting down Nick Suzuki’s line against the Montreal Canadiens in the first round. Dubois finally found his home in the NHL and it worked out beautifully for both the team and player in the first season of the arrangement.
- C Nic Dowd (two, $3 million) — The 34-year-old, Washington’s top shut down forward, tallied 14 goals, 27 points, a .499 faceoff-winning percentage, .51 five-on-five expected goals-for percentage, and played all 82 games for the first time in his nine full NHL. Dowd just signed a two-year contract extension on April 16.
- D Rasmus Sandin (four, $4.6 million) — While averaging 19:11 per game (third among Capitals defensemen), including 49 seconds on the power play and 37 on the penalty kill, the 25-year-old recorded four goals, 30 points, a +13 rating, .4961 five-on-five Corsi-for percentage, .5299 five-on-five expected goals-for percentage, and .5181 five-on-five scoring chances-for percentage in his first full 82-game campaign. The team see Sandin, who grew as a two-way defenseman over the past season, as a big part of their future as they flipped the Boston Bruins’ 2023 first-round pick for him two years ago and signed him to a five-year contract extension in March 2024.
- G Charlie Lindgren (three, $3 million) — The 30-year-old went 20-14-3 with an .896 save percentage, 2.73 goals-against average, a shutout, and 8.78 five-on-five goals-saved below average in 39 regular-season games. Lindgren, who signed a contract extension in March, appeared in one postseason game where Thompson was injured but otherwise did not see the net in the Stanley Cup Playoffs. While Thompson is the clear starter, the team values Lindgren as well and sees their goaltending tandem as one of their strengths moving forward.
- LW Brandon Duhaime (one, $1.85 million) — The 28-year-old found a home in Washington after tallying nine goals, 21 points, and a .4921 five-on-five expected goals-for percentage in 82 games. Duhaime was a mainstay with Dowd on Washington’s fourth-line and also brought intangibles. In addition to thriving on the ice, he brought a lot of energy to and fit right into the Capitals’ locker room. Duhaime, who also provided some grit and gave Washington another enforcer outside of Wilson, notched three goals and four points in 10 postseason outings. Duhaime became a big part of Washington’s culture and someone the team will want to keep around. It would not be shocking to see him sign a contract extension at some point (eligible starting on July 1).
- D Matt Roy (five, $5.75 million; 15-team no-trade clause) — The 29-year-old tallied three goals, 24 points, a +18 rating, .4877 five-on-five Corsi-for percentage, .499 five-on-five expected goals-for percentage, and .5147 five-on-five scoring chances-for percentage in 69 regular-season games, where he averaged 19:53 per game, including 1:45 (both third). Roy, who was brought in to be a steady presence on Washington’s backend, added two assists in 10 postseason games. Even if he did not have the strongest showing in the second round, the team signed Roy to a long-term extension just under 11 months ago and will likely keep him around for a while.
It Would Take An Overpayment
This section includes players who will not move baring a ridiculous trade offer from another team.
- D Dylan McIlrath (two, $800,000) — The 33-year-old played in only 17 NHL games, recording two helpers, a -3 rating, .4227 five-on-five Corsi-for percentage, .4737 five-on-five expected goals-for percentage, and .4574 five-on-five scoring chances-for percentage while averaging 11:39 per game. Washington just extended McIlrath’s contract after he led the AHL’s Hershey Bears to a Calder Cup as team captain two seasons ago. McIlrath may not be an everyday player for the Capitals but the locker room loves him, he brings some grit and physicality when called upon, and is a leader.
- RW Ethen Frank (one, $775,000) — The 27-year-old impressed at the NHL level with four goals and seven points in 24 games after opening the season with 20 goals and 28 points in 35 AHL games. However, Washington showed that they do not see Frank as an everyday player yet after acquiring Anthony Beauvillier at the trade deadline. Frank is a great option to have in the organization and his contract turns into a one-way deal for the 2025-26 season.
The Trade Would Have To Improve The Capitals
This section includes players who could be dealt in a blockbuster deal or create salary cap space for a big move.
- D John Carlson (one, $8 million; 10-team no-trade clause) — While averaging a team-leading 23:34 per game (including 3:00 on the power play, 2:51 on the penalty kill), the 35-year-old saw his offense decline further with five goals (although, he had a few overturned), 51 points, a +17 rating, .5377 five-on-five Corsi-for percentage, .5412 five-on-five expected goals-for percentage, and .5382 five-on-five scoring chances-for percentage. Carlson will be eligible to sign a contract extension on July 1 and may see his role continue to decline with the Capitals transitioning to a younger core. His contract may be hard to move out and the organization owes Carlson a lot but his role and play are both on the downturn.
- C Hendrix Lapierre (pending restricted free agent) — The 23-year-old, the 22nd overall pick in the 2020 NHL Draft, was assigned to the AHL after starting the season with eight assists in 27 NHL games and was in and out of the Capitals’ lineup. Lapierre averaged a point-per-game (7-25-32 in 32) in Hershey but may have fallen down the pecking order after McMichael and Protas’ breakout seasons and the development of other prospects such as Miroshnichenko, Andrew Cristall, and Ilya Protas. Washington traded for Lars Eller in November after Lapierre failed to grab the third-line center opening by the horns. It is possible that Washington would include the two-time Calder Cup Champion, who notched three assists in eight Calder Cup Playoff games, in a deal for a top-six forward but Lapierre also has a high ceiling, so it would be understandable if they gave him another kick at the can.
Open To Listening To Offers On
This section includes players who could move but the Capitals are not desperate to trade either.
- D Trevor Van Riemsdyk (one, $3 million) — The 33-year-old had a strong season with a goal, 21 points, +20 rating, .4891 five-on-five Corsi-for percentage, .4949 five-on-five expected goals-for percentage, and .5106 five-on-five scoring chances-for percentage while averaging 17:40 per game (sixth), including 1:34 on the penalty kill (fourth), in 82 contests. Van Riemsdyk added two assists in 10 postseason games. While Van Riemsdyk is reliable, a $3 million third-pairing defenseman who is well into his 30s is also an easy place to look to if a team wants to cut some salary cap space.
Most Likely To Get Dealt
This section includes players who are expendable based on the fact that they will most likely be on the outside looking in when it comes to cracking a full-time starting roster spot in the fall.
- LW Sonny Milano (one, $1.9 million) — The 29-year-old former 16th overall pick from 2014 was limited to just three games due to a poor start to the season and an upper-body injury suffered on November 6. Milano seems to have fallen out of favor with Frank and some of Washington’s best prospects rising but trading him right now would almost certainly not bring back fair market value. Just a year ago, Milano scored 15 goals despite playing in just 49 games and he has hit the double-digit goal total four times in his eight-season career. He also hit 30 points in consecutive seasons (34 in 66 with Anaheim Ducks in 2021-22, 33 in 64 during his first season in Washington in 2022-23). It would be understandable if the Capitals overlook Milano’s low trade value and decide to move him anyway with Leonard and others in line for more ice time but there is definitely some trade-off to weigh in this decision.
- D Alexander Alexeyev (pending restricted free agent) — The 25-year-old appeared in just eight regular-season games but played in all 10 postseason games, where he notched a -2 rating, .4461 five-on-five Corsi-for percentage, .5401 five-on-five expected goals-for percentage, and .4787 five-on-five scoring chances-for percentage. While Alexeyev was thrown into a challenging position after Fehervary underwent surgery, it is going to be tough for him to crack the opening night lineup with seven other defensemen signed on the NHL roster for next season. Like with Milano, the Capitals almost certainly would not get fair market value for Alexeyev if they traded him and are going to have to chew on the decision with what to do with him.
Pending UFAs
This section includes players who will hit the unrestricted free agent unless Washington re-signs them or trades their rights ahead of July 1 at 12 PM ET.
- LW Andrew Mangiapane — The 29-year-old played all over Washington’s lineup and ended with 14 goals, 28 points, and a .5338 five-on-five expected goals-for percentage in 81 games. Mangiapane tallied a goal and an assist in Washington’s postseason run. With the team looking for roster room to integrate a few prospects, Mangiapane will likely hit the unrestricted free agent market.
- RW Taylor Raddysh —The 27-year-old notched seven goals, 27 points, and a .5411 five-on-five expected goals-for percentage in 80 regular-season games and one assist in seven postseason games. However, Raddysh, who fit into the Capitals’ fourth-line well, found himself as a regular healthy scratch following the arrival of Leonard on March 31. He will likely become an unrestricted free agent on July 1.
- C Lars Eller — The 36-year-old tallied six goals, 15 points, a .51 faceoff-winning percentage, and .5421 five-on-five expected goals-for percentage in 63 regular-season games with Washington after getting acquired from the Pittsburgh Penguins on November 12. Eller notched an assist in nine postseason games but was scratched for Game 5 vs. Carolina with the team’s season on the line. The Capitals’ biggest offseason priority is upgrading at the third-line center position (where Eller played) and the team is also trying to get younger. Although Eller will be a legend in Washington forever for his heroics during the 2018 Stanley Cup run, it appears highly likely that the team will be looking at other options.
- LW Anthony Beauvillier — Although the 27-year-old is the most likely of Washington’s unrestricted free agents to re-sign with the Capitals, Beauvillier was healthy scratched for a regular-season game but fit in well with two goals and five points in 18 after getting acquired from Pittsburgh on March 7. He performed well in the postseason with two goals and six points and was an extremely valuable utility player, playing all over the forward lineup (including on the Capitals’ top line). While the fit is there for both the team and player, there are kids knocking on the door for a bigger role come the fall so it would be understandable if the sides part ways.
- C Michael Sgarbossa — The 32-year-old appeared in just three games for Washington and already signed with HC Lugano. Sgarbossa tallied seven goals and 31 points in 35 AHL outings.
- C Nicklas Backstrom/RW T.J. Oshie — Both players spent the 2024-25 season on injured reserve (Backstrom: hip, Oshie: back). Backstrom last suited up on October 29, 2023 while Oshie last played on April 28, 2024, when Washington got swept by the New York Rangers in the first round of the 2024 Stanley Cup Playoffs. Backstrom already signed a one-year contract with the SHL’s Brynas IF to resume his playing career back home in Sweden.
By Harrison Brown
