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The Washington Capitals locked up forward Sonny Milano last weekend, signing him to a three-year contract extension, per CBS Sports. Milano's new deal is worth $5.7 million, carrying a $1.9 million cap hit. It will kick in for the 2023-24 season.
Below, we look at how the deal works out for the Capitals.
Capitals' Sonny Milano Overview
Milano joined the Capitals this season on a one-year, $750,000 deal.
The winger had previously played 197 NHL games across seven prior seasons, split between the Columbus Blue Jackets and Anaheim Ducks. A 16th overall pick by the Blue Jackets in 2014, Milano was up and down between the NHL and AHL with the organization before eventually being dealt to the Ducks in February of 2020.
Milano appeared to have found a home with Anaheim, putting together somewhat of a breakout season last year. He developed chemistry with Trevor Zegras and while his production slowed down as the year went along, he still managed 14 goals and 34 points in 66 games, a pace of 17 goals and 42 points per 82 games.
However, the Ducks opted not to give Milano a qualifying offer, in a rather surprising decision. As a result, the forward became an unrestricted free agent.
What was even more strange was that Milano then couldn't even find a contract for himself and ended up having to resort to taking a professional tryout with the Calgary Flames. This didn't work out either and Milano was released by the Flames, before eventually signing his deal with Washington.
After beginning the year with the AHL's Hershey Bears, Milano was quickly called up. Now, he's found himself in a good situation with the Capitals.
Milano has played 40 NHL games this season, scoring eight goals and 22 points, which averages to 45 points per 82 this season.
The Cap Hit
Milano can be a solid middle-six forward and getting him at just $1.9 million per year for the next three seasons is a win. While he may not necessarily post huge offensive numbers, he features tremendous speed. Milano can play with a ton of intensity, acting as an effective forechecker.
If Milano can continue to produce at a pace of about 15 goals and 40-45 points per 82, his cap hit is going to look great. On the flip side, it's not a huge commitment. Even if Milano's production does slow down a bit, his salary is low enough that it's relatively insignificant to Washington's cap situation.
Even if they wanted to shed the contract for whatever reason, it shouldn't be too difficult to move. In theory, they could even send Milano to the minors and bury much of the cap hit as is.
The contract is a fairly low-risk move for Washington, with the potential to provide a lot of upside.
The Term
Three years may seem like a gamble, considering Milano was just on a professional tryout only a few months ago. At the same time, there's little reason for concern with the deal.
On a three-year term, the Capitals have Milano locked up at a very reasonable price until 2026. The deal gives them a bit of cost certainty in their middle-six, which is important if you look at the team's payroll. Washington has a lot of contracts coming off the books in the coming years, so extending Milano means it will be one less piece in the top-nine to worry about in a couple years.
Milano's age also makes this a low-risk term. At just 26 years old, there isn't much reason to fear a decline for the forward during the deal. It will expire as he turns 30 years old and he should remain just as productive until then.
We also know the Capitals likely have only a few more years to contend with their current core. Their top players will start to age out fairly soon, so competing now is the main focus. Locking up Milano at a reasonable cap hit means they keep him for those runs, while retaining cap space to possibly add elsewhere too.
As another bonus, there's also no trade protection in the deal for any of the three years. As a result, if Washington did need to move the contract, they won't have any restrictions.
Final thoughts on Capitals' Milano extension
This is a deal that has the potential to work out very well for the Capitals. Milano is a quality top-nine forward and has benefitted the team thus far. He should provide solid value for his $1.9 million cap hit, acting as a cost-friendly option for a team looking to contend. The deal also gives them cost certainty for a few seasons, which will look even better as the cap rises.
Milano is still only 26 years old and there's the possibility of him growing his role in Washington. He was a good addition this season and the extension is a low-risk, high-reward move.
Grade: A
