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The 2024-25 Washington Capitals were the top team in the Eastern Conference, but would fall in the second round of the playoffs to the Carolina Hurricanes. The team has become accustomed to success, making the playoffs in 16 of the last 18 seasons and winning a Stanley Cup. Still, the window for this franchise is closing, and they had the opportunity to keep it open this offseason, but failed to make the major move to do so.
The Capitals were one of the best scoring teams in the NHL this past season. They scored 3.49 goals per game, which ranked them second in the league. The team was also solid on defense, sitting tied for eighth in the league, allowing 2.79 goals per game. They will run back an almost identical roster this upcoming season. They did not have any major losses, but also did not add any major players.
Further, many of the players who have led playoff runs in the past are either gone or getting older. Nicklas Backstrom will be playing back in Sweden, ending his NHL career. TJ Oshie has also officially retired. John Carlson is 35 and will be an unrestricted free agent at the end of the year. While the face of the franchise, Alex Ovechkin, may be entering his last season in the NHL.
The Capitals had limited cap space this summer. Regardless, they needed to make a major move to improve the roster to help Ovi make one more run at the Cup.
The Capitals fail to land a big free agent
The Capitals were not expected to be in on the Mitch Marner sweepstakes, but they were in the running for Nikolaj Ehlers. Ehlers would have been a perfect fit in Washington. To begin with, there is the age factor. Ehlers is just 29 years old, which would make him a nice bridge from the past, with players like Ovi and Tom Wilson, to the future. The future has young stars such as Aliaksei Protas and Ryan Leonard.
He would have been a major addition to the second line of the Capitals as well. In 2024-25, Connor McMichael was the primary left wing on the second line. He was solid, lighting the lamp 26 times while adding 31 assists. He would have been able to move down the third line and pair with Leonard, allowing the young duo to grow together. This would have placed Ehlers on the second line.
Ehlers would have been a nominal upgrade of McMichael, but also would have gotten time with Tom Wilson. Then, in 2026-27, if Ovechkin retires, Wilson and Ehlers could have led the top line with Dylan Strome, while McMichael, Protas, and Leonard would be a dominant and young second line. Still, the succession plan for Ovechkin did not join the Capitals.
To make matters worse, Ehlers signed with the Carolina Hurricanes. They are the division rival of the Capitals and the team that knocked them out of the playoffs. This move made the Hurricanes one of the favorites to win the Stanley Cup, according to the odds provided by FanDuel. The addition is a major move for the Hurricanes and a major miss for the Capitals.
Major decisions will need to be made in the summer of 2026
Any decisions on the 2026-27 season will all surround Alex Ovechkin. He has made clear his desire to play for his hometown team in Russia at the end of his career. With his contract expiring, there is a high likelihood that this is his last run in the NHL. Meanwhile, Carlson and the Caps will not be discussing an extension this summer. This could mean two more major pieces moving on from the franchise.
The front office will also need to make decisions on Trevor van Riemsdyk and Sonny Milano, two role players with the team. McMichael will be a restricted free agent as well, but he is expected to be the replacement on the top line for Ovechkin if Ovi leaves.
Without the major contracts of Ovechkin and Carlson, the Caps will have a massive amount of cap space. They are projected to have over $38 million in cap space in the summer of 2026. There lies the question. Do the Capitals believe in this new, young core enough to spend big? Or do they think they have enough that they just need role players as additions? They could also decide to trade away veterans and plan for the future. Regardless, without a clear succession plan for the Great Eight, next summer could be a major one in the future of the Capitals.
