Assessing the Washington Capitals' free-agency situation

Free agency is less than a month away, and teams are looking ahead to when it opens. There will be several impact players set to hit the open market in July, while many teams have key restricted free agents to re-sign as well. We continue our look around the NHL with an overview of the free-agent situation for the Washington Capitals. 

Key restricted free agents

D Martin Fehervary – Besides missing some time due to an injury in December of this season, Fehervary still had a decent year with the Capitals. Primarily focused on the defensive side of the puck, Fehervary scored six goals and 10 assists in 67 games for Washington this season.

He repeated his physical campaign from last year, blocking 128 shots and throwing 217 hits from the back end. Even though the Capitals are likely to re-tool their team this upcoming offseason, Fehervary still factors into Washington’s blue-line top six.

Fehervary is likely to factor more into the penalty-kill during the 2023-24 season, after already averaging 20 minutes a night with the Capitals this past year. For a player who does not accrue very many penalty minutes himself, Fehervary is turning himself into a stable defensive defenseman for Washington.

Other RFAs: F Kody Clark, F Henrik Borgstrom, F Riley Sutter, D Gabriel Carlsson

Key unrestricted free agents

F Conor Sheary  – During the 2020-21 offseason, Sheary surprisingly was unable to find a guaranteed contract. It wasn’t until December 2020 that the Capitals were one of the only teams to give Sheary another shot at NHL minutes. Sheary rewarded them in kind and was able to sign a two-year, $3M contract extension with Washington before his first season with the team was even finished.

For the last two years, Sheary has become one of the better depth scorers in the NHL, scoring 43 points during the 2021-22 campaign, and he followed that up with 37 points this season. Seemingly destined for the third line on most competitive teams, Sheary could become a sneaky buy-low candidate this summer.

Throughout his career, Sheary has always been a plus forward when it comes to puck possession and has always shown flashes of being a 20-goal scorer. He is in a good position to secure a multiyear deal this offseason, but his playing time over the next few years will likely finish below 15 minutes a game.

F Connor Brown – Acquired last summer from the Ottawa Senators for a second-round pick in the 2024 NHL Draft, Brown was set to factor into Washington’s top-six forward group. Unfortunately, due to an ACL injury early on in the season, Brown was only able to play four games.

In the past, both with the Toronto Maple Leafs and Senators, Brown has shown the ability to score 20 goals a season, doing so during the 2016-17 and 2020-21 seasons. However, he has been wholly unable to play a complete season since his time with the Maple Leafs.

Benefiting tremendously from playing on the same line as Connor McDavid during his time in the OHL for the Erie Otters, Brown has not been the difference-maker that he was expected to be. Fortunately for the Capitals, who are, when healthy, one of the better offensive teams, should have the talent around Brown to aid in his success if they wish to give him another shot.

Other UFAs:  F Craig Smith, D Matt Irwin, F Carl Hagelin, F Garrett Pilon, F Mike Vecchione, D Dylan McIlrath, D Bobby Nardella, G Zachary Fucale, G Hunter Shepard

Projected cap space

Given recent reporting, the Capitals’ cap space is more than likely to expand before the beginning of the 2023-24 offseason. As of right now, Washington has only around $7.3M to work with, quite a low number for a team in need of big changes.

Longtime Capital forward Evgeny Kuznetsov and his $7.8M cap hit are likely to be moved this summer as well as forward Anthony Mantha along with the one-year, $5.7M remaining on his deal.

Being a bona fide 2C in the NHL, Kuznetsov will surely be easier to move for Washington, but both players will likely find their exit in some form or another this offseason. Given that Alex Ovechkin, Nicklas Backstrom and John Carlson are all in the back half of 30 years old, Washington will have quite the task ahead to get younger this summer.

Contract information courtesy of CapFriendly.